Australian Bullion Sales Mixed in August, Perth Mint Data Shows

2

Australian bullion demand showed mixed results in August, based on data from The Perth Mint. While sales of gold products remained steady compared to July, silver sales saw a significant decline.

CoinNews photo 2024 Australian Koala 1oz Silver Bullion Coins
A CoinNews photo showing a pair of 2024 Australian Koala 1oz Silver Bullion Coins

The Mint’s bullion gains are measured against surging precious metals prices in August, with LBMA prices (in USD) rising 3.6% for gold and climbing 3.2% for silver.

Perth Mint Silver Bullion Sales in August 2024

The Perth Mint reported that August sales of its minted silver coins and bars increased by 647,382 ounces, marking declines of 31.1% from July and 18.3% from August 2023.

"Conversations with colleagues overseas in the industry reflect what we’re seeing here at The Perth Mint which is a return to the sales volumes we experienced pre-pandemic," said Neil Vance, The Perth Mint’s General Manager of Minted Products.

"Mints have always been subject to the ebbs and flows of market demand for precious metals. It was unusual to experience the volume of sales we did for the length of time we did but it does appear we are returning to the market normal we’ve seen in previous years."

Year to date, the Mint’s silver sales total 6,197,320 ounces, a 45.4% drop from the 11,352,119 ounces sold during the same period last year.

Perth Mint Gold Bullion Sales in August 2024

In August, the Mint’s sales of gold coins and bars increased by 25,884 ounces, showing a gain of 1.7% from July but a decline of 25.8% from the same month last year.

The Perth Mint’s gold sales so far for the year total 218,665 ounces, a 56% decrease compared to the 497,240 ounces sold during the same period last year.

Perth Mint Gold and Silver Sales by Month through August 2024

Below is a monthly summary of Perth Mint bullion sales from January 2022 to August 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
August 2024 647,382 25,884
July 2024 939,473 25,457
June 2024 491,946 22,520
May 2024 796,934 23,238
April 2024 684,735 33,387
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 August 2024

In August, as reported by The Perth Mint, the following bullion coin was released:

  • Australian Brumby 2024 1oz Silver Bullion Coin

In July, as reported by the Mint, the following bullion coins were released:

  • Dragon 2024 1oz Silver Rectangular Bullion Coin (individual and in tube)
  • Dragon 2024 1oz Gold Rectangular Bullion Coin
  • Next Generation Australian Emu 2024 10oz Silver Piedfort Bullion Coin (previously mother and baby)
  • Next Generation Australian Emu 2024 2oz Silver Piedfort Bullion Coin (individual and in tube)

In June, as reported by the Mint, the following bullion coins were released:

  • Australian Quokka 2024 1oz Silver Bullion Coin
  • Australian Koala 2024 1 Kilo Silver Bullion Coin

In May, as reported by the Mint, the following bullion coins were released:

  • Chinese Myths and Legends Dragon & Koi 2024 1oz Gold Bullion Coin
  • Australian Koala 2024 1oz Silver Bullion Coin

In April, as reported by the Mint, the following bullion coins were released:

  • Australian Kookaburra 2024 1/10oz Gold Bullion Coin 
  • Australian Kookaburra 2024 1/10oz Platinum Bullion Coin 
  • Australian Swan 2024 1oz Silver Bullion Coin 
  • Australian Swan 2024 1oz Gold Bullion Coin 
  • The Perth Mint’s 125th Anniversary 2024 1oz Gold Bullion Coin 
  • The Perth Mint’s 125th Anniversary 2024 1oz Silver Bullion Coin 
  • The Perth Mint’s 125th Anniversary 2024 1oz Platinum Bullion Coin 
  • Australian Kookaburra 2024 10oz Silver Bullion Coin 

In March, as reported by the 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:"

  • 2023 Australian Brumby 1oz Silver Bullion Coin
  • 2024 Wedge-Tailed Eagle 1oz Silver Bullion Coin

 

Subscribe
Notify of
guest

2 Comments
Inline Feedbacks
View all comments
Kaiser Wilhelm

The month over month sales figures of each of the two precious metals as outlined in this article make perfectly good sense. Gold is obviously much more expensive than silver but the long-term payoff for the former far exceeds that of the latter.

Last edited 18 days ago by Kaiser Wilhelm
Kaiser Wilhelm

Incidentally, the Koala “Bear” on the reverse of the coin is a marsupial, not a bear. That resides in the category of things that don’t make a difference but are fun to know.