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HomeBullion & Precious MetalsFebruary Gold, Silver Bullion Sales Down at Perth Mint

February Gold, Silver Bullion Sales Down at Perth Mint

Perth Bullion Sales

By Hubert Walker for CoinWeek….
In February 2016, the Perth Mint sold 37,063 ounces of gold and 1,049,062 ounces of silver in the form of coins and minted bars.

The Mint sold 10,696 fewer ounces of gold last month compared to January, representing a 22.40% decrease from the beginning of the year’s spike in demand. It sold 28.80% less silver last month as well, with sales down a total of 424,346 ounces.

Perth Mint Gold, Silver Bullion Sales - February 2016

Perth Mint Gold and Silver Sales, March 2014 – February 2016. Source: Perth Mint blog.

This is the slowest month for silver bullion sales since August of last year, when the Perth Mint sold 707,656 ounces. And so far this year, silver sales have yet to achieve anything like the jump they saw back in September, when 3,349,557 ounces were sold.

That month saw the release of both the new .9999 fine 2016 Silver Kangaroo bullion coin and the 2016 Gold Kangaroo bullion coin. The latest Australian Kangaroo issues came out on September 21, 2015.

February Gold sales, by contrast, were at their highest levels since October 2015, when the Mint sold 66,951 ounces.

Hubert Walker
Hubert Walker
Hubert Walker has served as the Assistant Editor of CoinWeek.com since 2015. Along with co-author Charles Morgan, he has written for CoinWeek since 2012, as well as the monthly column "Market Whimsy" for The Numismatist and the book 100 Greatest Modern World Coins (2020) for Whitman Publishing.

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1 COMMENT

  1. With the almost generationally low prices we’ve seen of late and the record sales that have accompanied them, in my opinion it was inevitable that buying fatigue would set in amongst small to medium Physical Stackers, the very demographic one would imagine is the greatest supporters of sales of The Perth Mint’s limited mintage & more niche aimed products.
    Just the natural ebbs and flows of the market in my humble opinion!

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