March Australian Bullion Sales Turn Down, Perth Mint Reports


In March, demand for Australian bullion slowed down, data from The Perth Mint of Australia shows. Sales of silver products experienced a double-digit percentage downturn, while sales of gold products approached a five-year low.

2024 Australian Kangaroo 1oz Silver Bullion Coins - Obverse and Reverse
This CoinNews photo shows a pair of 2024 Australian Kangaroo 1oz Silver Bullion Coins – Obverse and Reverse

The Mint’s bullion gains compare against soaring precious metals prices for March, with LBMA prices (in USD) jumping 8.1% for gold and surging 9.8% for silver.

Perth Mint Gold Bullion Sales in March and First Quarter 2024

The Mint’s overall March sales of gold coins and gold bars slowed to 16,442 ounces, marking drops of 65.1% from February and 79.6% from March 2023. This monthly tally represents the weakest performance since May 2019 when the Mint sold only 10,790 ounces.

"We anticipated a fall in sales in March after the bump in interest in February associated with the release of our 2024 Australian Kangaroo series which featured the effigy of King Charles III for the first time," said Neil Vance, General Manager of Minted Products.

The Mint’s gold sales for the quarter, totaling 88,179 ounces, reflect a decline of 55.3% compared to the 197,177 ounces sold during the same period last year.

Perth Mint Silver Bullion Sales in March and First Quarter 2024

The Perth Mint revealed that sales of minted silver coins and bars reached 860,672 ounces, indicating decreases of 14.5% from February and 52.8% compared to March 2023.

"Our silver minted products sales have held up more strongly but the softening in demand for silver also mirrors a global trend," Vance noted. "This is typical of our industry where we, like all Mints around the world, are subject to the ebbs and flows in market demand for precious metal investment products."

The Mint’s gold sales for the quarter totaled 2,636,850 ounces, representing a 41.9% decrease from the 4,541,376 ounces sold during the same period last year.

Perth Mint Gold and Silver Sales by Month through March 2024

Below is a monthly summary of Perth Mint bullion sales from January 2022 to March 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
March 2024 860,672 16,442
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 March, as reported by The Perth Mint, the following bullion coins were released:

  • Australian Kookaburra 2024 1 Kilo Silver Bullion Coin
  • Australian Wedge-tailed Eagle 10th Anniversary 2024 1oz Silver Bullion Coin

In February, the Mint reported, 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:"

  • Swan 2024 1oz Silver Bullion Coin
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E1, Thanks for your updated report on the 2023 Extra “V” 1C Variety… Sorry for the long post everyone. However some might find something of interest later in my post–You E1, Major D, Cali, TonyGA too? We discussed Major D’s NGC Gem Proof Mint Set(see photo)–But first give me a minute… Back to the V’s..The recent uptick in the authentication & grading of these V coins is noticeable, but not entirely surprising to me. I suspect that most, if not all are from people who bought raw/secondary coins in the marketplace. Especially given that there were many in the MS-62-65… Read more »

E 1


There is something weird about that coin. Just be happy that you own it and leave it at that. The two that I have, the obverse is facing forward, and these are the only ones that I have ever seen certified that way by NGC. I suspect they were the earliest certified NGC Extra Vs and yet no ER designation. You got the Extra V “Money Coin” for sure.


It is odd. I really didn’t buy it for the label, I bought it for the V. The label was an afterthought honestly. If they can ID Major D’s NGC stickered Proof sets down to the exact number, why not this coin? I suspect it was a mistake. I’d like to hear back from them after proving(to them) that they keep track of label varieties, we’ll see.
All of the TPG’s faced them forward early. I have ANACS, and PCGS V’s from Santiago’s early submissions. There are some other early V’s for sale as we speak…


An interesting fact to note I’ve just found, and contradictory to the face forward theory is..; The NGC -67 coin linked above, with the face forward was encapsulated on 9/11/23. While my coin(linked below)-with the First Release ID, and a backward face was encapsulated on 6/27/23. So everything is bass-ackwards with these coins, and the face forward theory…..
I wonder if you can request a face forward? I doubt it, but hey?…


I compiled a list of my recent PCGS coin show submissions and the Jury is still out on most of them. AKBob thanks for sharing your recent submissions & results! It’s been fun so far! I’m authenticating/grading some of my raw coins. No more bulky OGP. Down the road, my family can easily combine these certified coins with my other graded coins. They will send them off to Ian Russell for auction if they wish, or keep some/all of them. They know nothing about coins & values but I’ll show them the basics of certification verification & recent sales. I’ll… Read more »


Here’s my latest result. This one was a re-holder(why do people treat slabs so badly?)
These Clad coins were so prone to spots/rinse/haze, etc.(thanks for the warning E1)that there are no SP-70’s and scarce SP-69’s, so I’m happy to have one, given my purchase price of $300, I thought of it as a decent buy IMO….