Perth Mint Bullion Sales Rebound Strongly in February

2024 Australian Kookaburra 1oz Silver Bullion Coin - Reverse
This CoinNews photo shows the reverse side of a 2024 Australian Kookaburra 1oz Silver Bullion Coin

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
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John Q. Coinage

Hello All….


Howdy Pardner!!

E 1

The Perth Mint needs to do a Cane Toad Coin.

Cane toads in Australia – Wikipedia