Perth Mint Gold Sales Out Pace U.S. Mint Gold Sales for Ninth Month in a Row
The Perth Mint outsold the United States Mint again in November. In addition to the undisclosed amount of cast gold bars shipped to China, the Perth Mint reported selling 23,901 ounces of gold in November 2017, down 46% from the 44,628 ounces of gold in October 2017 and down 56% Perth Mint’s November 2016 gold sales of 54,747 ounces. November Perth Mint gold sales marked the ninth month in a row that the mint sold more gold than the much larger United States Mint.
Perth Mint sales hit record highs from September 2016 to January 2017. During that period, the Perth Mint sold 328,771 ounces of gold. The U.S. Mint, however, sold 504,500 one ounce American Gold Eagles during the same time period or 35% more gold than the Perth Mint.
From January- November 2017, the Perth Mint sold 341,401 ounces of gold, while the U.S. Mint sold just 236,500 ounces or 31% less gold. During 2017, the Perth Mint has sold more gold than the U.S. Mint for the last nine months in a row.
Through the first nine months of 2017, the Perth Mint has sold 341,401 ounces of gold, down 25% from 456,875 ounces of gold sold during the same period of 2016. In contrast, U.S. Mint American Gold Eagle sales of 236,500 are down 70% for the first eleven months of 2017 vs the 794,500 ounces sold during the same period of 2016.
Perth Mint Gold Sales 2016 – 2017
Perth Mint Gold Sales vs. U.S. Mint Gold Sales
The Perth Mint’s gold sales have outpaced the U.S. Mint sales of one ounce American Gold Eagle coins for the past nine months as shown below:
The bulk of the Perth Mint gold sales are in the form of Australian Gold Kangaroo coins. The Gold Australian Kangaroo is available in 1/10 ounce ($15 face value), 1/4 ounce ($25),1/2 ounce ($50) and one ounce ($100) sizes from BGASC.com.
All Australian Gold Kangaroo coins are IRA eligible.
About the Perth Mint:
The Perth Mint, located in Western Australia, is historically known for its gold sales. Australia ranks third in global gold production and has about ten percent of the world’s known gold reserves. Many of Australia’s gold mines are located in Western Australia where the Perth Mint was founded in 1899.
As a full service government mint, the Perth Mint produces legal tender gold and silver coins that are not intended, however, for general circulation. Australia’s general circulation coins are produced by the Royal Australian Mint. The Perth Mint focuses on minting precious metal bullion and collector coins and bars.
The Perth Mint has been refining about 300 and 400 tons of gold and silver each year and also supplies gold and silver blanks to other government mints. As a major producer of silver blanks, the Perth Mint has not experienced any production halts during the past year.
Perth Mint gold sales data: The Perth Mint Blog
US Mint American Gold Eagle sales – USmint.gov
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.