The Perth Mint Sees Strong Silver Demand in April


Sales of Australian bullion in April diverged, according to figures from The Perth Mint of Australia. Gold products experienced a decrease, while silver products saw the highest gains in six months.

2023 Australian Kangaroo 1oz Silver Bullion Coins - Obverse and Reverse
A CoinNews photo showing both sides of 2023 Australian Kangaroo 1oz Silver Bullion Coins

The Mint’s bullion sales were set against rising precious metals in April, with LBMA prices (USD) edging up 0.1% for gold and jumping 3.7% for silver.

Perth Mint Gold Bullion Sales in April 2023

In April, The Perth Mint sold a total of 80,541 ounces of minted gold coins and bars. This represents a 6.7% decrease from the prior month, which had the highest sales since November, and a 7.1% decline from April of last year.

Year-to-date, gold sales total 272,343 ounces, which is 20.4% lower than the 342,298 ounces sold in the first four months of last year.

The Mint’s silver coins and bars sales for April totaled 1,947,743 ounces, which is the highest monthly sales figure since October. This represents an increase of 6.8% from March, but a decrease of 8.1% from April 2022.

"Wholesale customers in America remained particularly active with investor demand there fuelled by banking issues," said Neil Vance, General Manager Minted Products. "Overall sales of gold minted products declined slightly, but the silver lining was additional capacity to make silver coins in the light of booming demand."

The Mint’s year-to-date silver sales total 6,489,119 ounces, which is 16.7% lower than the 7,788,613 ounces sold during the same period last year.

Monthly Perth Mint Gold and Silver Sales

Below is a monthly summary of Perth Mint bullion sales from April 2022 to April 2023. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.

Perth Mint Bullion Sales (in troy ounces)
  Silver Gold
April 2023 1,947,743 75,166
March 2023 1,823,096 80,541
February 2023 1,484,936 52,241
January 2023 1,233,344 64,395
December 2022 1,634,751 60,634
November 2022 1,315,293 114,304
October 2022 1,995,350 183,102
September 2022 2,579,941 88,554
August 2022 1,655,334 84,976
July 2022 2,465,513 79,305
June 2022 1,523,765 65,281
May 2022 2,217,582 98,515
April 2022 2,119,491 80,941
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Dazed and Coinfused

Nope. Just a bunch of people buying thinking it will be the next babe Ruth rookie card in about 35 years. Or wanting something to remember her by. With 90 bazillion made it’ll be so common. The 2023 not so much. Just like this year’s ASE. So much for silver shortages