In February, there was a rebound in demand for Australian bullion, as shown by data from The Perth Mint of Australia, with sales of silver products reaching a four-month peak, while sales of gold products reached a three-month high after approaching a four-year low.
The Perth Mint’s bullion gains compare against falling precious metal for February, with LBMA prices (USD) slipping 0.3% for gold and dropping 3.2% for silver.
Perth Mint Bullion Sales in February 2024
The Mint revealed that sales of minted silver coins and bars reached 1,006,852 ounces, indicating a notable increase of 30.9% from January, yet also highlighting a considerable drop of 32.2% compared to February 2023.
Silver sales at The Perth Mint for the year to date, totaling 1,776,178 ounces, have seen a decrease of 34.7% compared to the 2,718,280 ounces sold during the corresponding period last year.
During February, the Mint’s combined sales of gold coins and gold bars reached 47,086, indicating a 91% surge from January, which recorded the lowest monthly total since February 2020. Nevertheless, this figure represented a 9.9% decline compared to February 2023.
Neil Vance, General Manager of Minted Products, noted, “With retail investors taking advantage of the high gold price, our dealers are buying back plenty of stock,” while acknowledging that the overall wholesale market remained muted.
"Even in these conditions, the February release of our signature Australian Kangaroo coin series with a great design for 2024 helped physical sales move higher during the month."
The gold sales at The Perth Mint for the year to date, totaling 71,737 ounces, are 38.5% lower than the 116,636 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month through February 2024
Below is a monthly summary of Perth Mint bullion sales from January 2022 to February 2024. 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 | |
| February 2024 | 1,006,852 | 47,086 |
| January 2024 | 769,326 | 24,651 |
| December 2023 | 681,490 | 36,297 |
| 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 |
| 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 |
| March 2022 | 1,649,634 | 121,997 |
| February 2022 | 1,632,323 | 72,651 |
| January 2022 | 2,387,165 | 66,709 |
Bullion Coins Released in February 2024
In February, as reported by The Perth Mint, the following bullion coins were released:
- Australian Kangaroo 2024 1 Kilo, 1oz, 1/2oz, 1/4oz, 1/10oz Gold Bullion Coins
- Australian Kangaroo 2024 1oz Silver Bullion Coin
- Australian Kangaroo 2024 1oz Platinum Bullion Coin
In January, the Mint reported the following bullion coins were released:
- Australian Lunar 2024 Year of the Dragon 1 Kilo, 5oz Silver Bullion Coins
- Australian Lunar 2024 Year of the Dragon 1/20oz Gold Bullion Coin
- Australian Kookaburra 2024 1oz Silver Bullion Coin
Bullion Coins That Sold Out
The Mint also reported that the following bullion coins "recently sold out:"
- Dragon 2023 1oz Gold Bullion Rectangular Coin
Hello All….
Howdy Pardner!!
The Perth Mint needs to do a Cane Toad Coin.
Cane toads in Australia – Wikipedia