Perth Mint Gold Sales Climb 68% in August
The Perth Mint sold 38,904 ounces of gold in August, up 68.2% from 23,130 ounces sold in August 2017.
August gold sales at the Perth Mint rose 30% from July sales of 29,921 ounces.
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.
U.S. Mint and Perth Mint Gold Sales Continue to Accelerate
Perth Mint August gold sales of 38,904 ounces outstripped the United States Mint gold sales of 17,500 one ounce American Gold Eagles in August and in each of the first four months of 2018. Perth Mint gold sales were 61,568 ounces from May-July, while U.S. Mint gold sales of one ounce American Gold Eagles of 71,500 outpaced Perth Mint gold sales during that period.
Despite the pick up in U.S. Mint sales in recent months, during the first eight months of 2018, the Perth Mint has sold 209,113 ounces of gold or 53% more than the 136,500 ounces attributable to sales of one ounce American Gold Eagles coins during the same time period.
Global sales at the Perth Mint of 209,113 ounces through the end of August 2018 are down 7.7% from gold sales of 226,467 during the same period of 2017. U.S. Mint sales of one ounce American Gold Eagles through the end of August 2018 were 136,500 down 15.5% from sales of 161,500 during the same period of 2017.
While Perth and U.S. Mints sales gold sales are lower through August 2018 as compared to sales through August 2017, both mints have increased gold sales the past four months. Perth Mint gold sales were up 68.2% in August 2018 vs August 2017 and August 2018 sales of American Gold Eagle coins were up 169% from August 2017.
Perth Mint Gold Sales vs. U.S. Mint Gold Sales
American Gold Buffalo Sales Up Year Over Year
Sales of American Gold Buffalo coins in August 2018 were up 566% from 3,000 sold in August 2018.
Sales of one ounce American Gold Buffalo coins through the first eight months of 2018 were 98,000 up 30.1% from the 75,000 sold in the first eight months of 2017.
Perth Mint Gold For Sale
The bulk of the Perth Mint retail 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.