Perth Mint Gold Sales Continue to Rival U.S. Mint Gold Sales
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 368,410 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 Continue at a Solid Pace in 2018
The Perth Mint reported selling 37,174 ounces of gold in January 2018, up 38% from 27,009 ounces sold in December 2017, but down 49% from the 72,745 ounces of gold sold in January 2017. The U.S. Mint sold 58,500 ounces of American Gold Eagle coins in January, including 36,000 one ounce American Gold Eagles. When the 24,000 one ounce American Gold Buffalo coins sold at the U.S. Mint in January are added to American Gold Eagle sales, the U.S. Mint sold 82,500 ounces of gold.
Perth Mint Gold Sales in 2017
Perth Mint Gold Sales 2014 – 2017
Perth Mint Gold Sales vs. U.S. Mint Gold Sales
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.