Pert Mint Gold Bullion Sales Hit 5-Month High in November, but Silver Sales Sluggish


Demand for Australian gold bullion reached a 5-month high in November, while sales for Australian silver bullion slowed to a 45-month low, according to figures from The Perth Mint of Australia.

2024 Australian Lunar Dragon 1oz Silver Bullion Coins - Obverse and Reverse
A CoinNews photo showing a pair of 2024 Australian Lunar Dragon 1oz Silver Bullion Coins (obverse and reverse sides)

The Mint’s bullion sales were impacted by the month’s upward movement in precious metal, with LBMA prices (USD) rising by 1.9% for gold and surging 7.8% for silver.

Perth Mint Gold Bullion Sales in November 2023

The Mint’s total November sales of gold coins and gold bars amounted to 53,520 ounces, marking the highest monthly figure since June. This indicates a substantial 26.5% increase compared to October, but it also signifies a significant 53.2% decrease from November of last year.

"Strong demand for Kangaroo Minted Gold Bars through October continued in November. Added to this was interest in the release of our annual Australian Lunar coin series for 2024 with designs celebrating the Year of the Dragon," said Neil Vance, General Manager Minted Products.

Year-to-date gold sales are at 629,592 ounces, which is 40.4% lower than the 1,056,335 ounces sold during the same time last year.

Perth Mint Silver Bullion Sales in November 2023

In November, the Mint reported sales of 672,623 ounces for minted silver coins and bars – the lowest amount since February 2020 when sales were 605,634 ounces. This represents a decline of 37.4% from October and a 48.9% decrease from November 2022.

"The main interest in silver during November came from the new Australian Lunar silver coins and their popular design theme," Vance added.

Year to date, The Perth Mint has sold 14,215,074 ounces of silver, marking a 34% decrease from the 21,541,391 ounces sold in the same period last year.

Bullion coins released in November 2023

In November, as reported by The Perth Mint, the following bullion coins were released:

  • Australian Lunar 2024 Year of the Dragon 10oz, 2oz, 1oz, 1/2oz, 1/4oz, 1/10oz Gold Bullion Coins
  • Australian Lunar 2024 Year of the Dragon 2oz, 1oz, 1/2oz Silver Bullion Coins
  • Australian Lunar 2024 Year of the Dragon 1oz Platinum Bullion Coin

The Mint also confirmed that no bullion coins were sold out during the month.

Monthly Perth Mint Gold and Silver Bullion Sales Since November 2022

Below is a monthly summary of Perth Mint bullion sales from November 2022 to November 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
November 2023 672,623 53,520
October 2023 1,073,553 42,302
September 2023 1,116,779 36,530
August 2023 792,503 34,875
July 2023 863,485 44,009
June 2023 1,326,011 73,124
May 2023 1,881,001 72,889
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
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Dazed and Coinfused

Dragon looks like a Chinese knockoff. Will be hard to tell if they are counterfeit. And celebrating her majesty 7th anniversary of her passing will release her image on this coin. May she never die and may Noone hold the last edition of the coin with her face. Yay. Also, yes I know not 7 years. Charles is probably thrilled about this.

Seth Riesling


She (EiiR) won’t die on coins like you refer to, she is back from the dead on “memorial” coins, and it won’t stop it seems. Do these dragon coins with her effigy on the obverse mean she was a Dragon Lady?? Lol.


Dazed and Coinfused

Could be a lady in drag. Depends who you ask, no matter the subject, they’ll find offense somewhere. No matter how minute the detail.