Perth Mint Silver Sales Leap 33% in August
August 2018 Perth Mint Silver Sales Were 520,245 ounces.
Perth Mint silver sales jumped 33% in August year over year. The Perth Mint sold 520,245 ounces of silver in August 2018 vs 392,091 ounces in August 2017. August 2018 Perth Mint silver sales were also up 6.9% over July 2018 sales when 486,821 ounces of silver were sold.
Perth Mint sales of 520,245 ounces in August were lower than U.S. Mint American Silver Eagle sales of 1,530,000 in August. Sales of American Silver Eagles in August were at their highest level since January 2018.
While silver sales at the U.S. Mint and Perth Mint increased on a year over year basis in August, American Silver Eagles sales are down 40% through August year over year and Perth Mint sales are down 18.8%
Perth Mint Silver Sales August 2017 – August 2018
Perth Mint Silver Sales 2014 – 2018
The dramatic increase in silver sales at the Perth Mint since the fall of 2015 is attributable to the introduction of the one ounce silver Australian Kangaroo coin in September 2015. This coin was released at a time when the major sovereign mints like Canadian and United States Mints were having difficulty meeting demand due to shortages in silver blanks needed to produce Canadian Silver Maple Leaf and American Silver Eagle coins.
Australia’s Perth Mint, unlike the United States Mint, produces its own silver blanks, so the Perth Mint was not reliant upon the ability of third parties to provide them with blanks and was able to ramp up production of its Australian Silver Kangaroo coins relatively quickly.
The Australian Silver Kangaroo was produced with the intention that it would not have a limited mintage like other Perth Mint silver coins like the silver Koala and silver Kookaburra.
Although the Perth Mint does not provide a break-down of monthly sales of each silver coin it mints, the bulk of silver sales at the Perth Mint now come from the Australian Silver Kangaroo.
BGASC has 2017 and 2018 Perth Mint Australian Silver Kangaroos available for sale individually, in rolls of 25 and in mini monster boxes of 250 coins.
About the Perth Mint: The Perth Mint is Australia’s only precious metals refinery and the only major government mint to also operate a refinery. The Perth Mint also sells gold coins.
Perth Mint silver sales data: The Perth Mint Blog
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.