The Perth Mint has announced that sales of its 2016 Australian Silver Kangaroo bullion coin have reached 10 million ounces/coins.
Since this latest addition to the Australian Bullion Coin Program was introduced to the market in September 2015, the release has had financiers, asset management specialists, bullion distributors and investors on the hop, with sales of the new issue doubling the anticipated five million coins in its introductory year.
Traditionally, sales of Australia’s silver bullion issues have been particularly strong in North America and Germany, as both regions perceive the country as an exotic destination with some of the world’s most fascinating wildlife.
“With this insight, we expected that the US and Germany would generate the greatest demand,” said Perth Mint Chief Executive Officer Richard Hayes.
“Now that we can better gauge the popularity of the release, we predict sales in excess of 12 million this coming year,” Mr. Hayes continued.
Of the silver bullion coins available from the Mint, each of which showcase an animal icon, the Australian Kookaburra, Koala, and Australian Lunar Series combine to offer investors wide choice, with coins ranging from 1/2 ounce to 10 kilograms.
Yet it is the popularity of the one ounce release in each series which is most evident, as these issues sell out of their limited mintages consistently each year. With this in mind, the Silver Kangaroo was issued in a one-ounce weight only and to an unlimited mintage.
“We made sure that the new Kangaroo satisfies investors’ key aims – to secure an asset which features an Australian icon – to secure silver at an affordable price – to add 9999 fine silver to their portfolio – and to stack precious metals in convenient one ounce coins,” said Mr. Hayes.
The 2016 Silver Kangaroo and the complete suite of Australian bullion coins are available from The Perth Mint’s Bullion Trading Desk in East Perth, via the BullionLine at 1300 201 112 (Australia) or +61 8 9421 7218 (International), or at www.perthmintbullion.com.