Perth Mint and U.S. Mint Gold Sales in 2018.
The Perth Mint gold sales in 2018 through June were 140,288 ounces, down 28% from 179,662 ounces sold through the first six months of 2017. Perth Mint gold sales through June 2018, however, were 49% higher than the 94,000 one ounce American Gold Eagle coins sold by the U.S. Mint through the same period.
Gold reported sold by the Perth Mint excludes sales of cast bars and sales of allocated/unallocated precious metal for storage held for clients at the Perth Mint.
Perth Mint and U.S. Mint Gold Sales in 2017
The Perth Mint’s gold sales were greater than United States Mint American Gold Eagle sales for the first time in 2017 since 2014. In addition to the undisclosed amount of cast gold bars shipped to China, the Perth Mint reported selling 368,210 ounces of gold in 2017. The U.S. Mint reported selling a total of 302,000 of American Gold Eagle coins of all denominations in 2017, including 228,500 one ounce American Gold Eagles. When the 99,500 one ounce American Gold Buffalo coins are added to the American Gold Eagle sales totals, the U.S. Mint sold 402,000 ounces of gold in 2017.
The United Mint sold more than one million ounces of gold in each of 2008-2011, 2013, 2015 and 2016. Gold sales at the U.S. Mint in 2017 were the lowest since 2007. Strong Perth Mint gold sales in 2017 were more inline with other physical gold demand metrics in 2017 including, the Russian Central Bank adding a record amount of gold to reserves, Indian gold imports and Shanghai Gold Exchange withdrawals and Gold ETF inflows all rising in 2017.
Perth Mint Gold Sales Slow in 2018
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.
2018 Gold Sales Outlook
Gold prices hit their lowest point in 2018 in early July. Lower prices tend to attract buyers. Indeed, U.S. Mint sales of one ounce American Gold Eagles through July 6 were 6,500 on pace for the best month since January.
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.