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Perth Mint Gold Sales Rise 58% in August

Gold News
Perth Mint Gold Sales Top U.S. Mint Gold Sales Six Months In a Row

The Perth Mint sold 23,130 ounces of gold in August 2017. This was up 58% from the Perth Mint’s August 2016 gold sales of 14,684 ounces. August Perth Mint gold sales marked the six 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 February- August 2017, the Perth Mint sold 153,722 ounces of gold, while the U.S. Mint sold just 95,000 ounces or 38% less gold. During that seven month period, the Perth Mint sold more gold than the U.S. Mint for the last six months in a row.

Perth Mint gold sales for the first seven months of 2017 are down 14% year over year from the same period in 2016, but are up 40% and 58% year over year for the months of July and August 2017 vs July and August of 2016, respectively..

In contrast, U.S. Mint American Gold Eagle are down 66% for the first seven months of 2017 vs the same period of 2016. American Gold Eagle sales are down 68% and 89% year over year for the months of July and August 2017 vs the same months in 2016.

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The following two charts show the differing sales results of the Perth and U.S. Mints over the past thirteen months:

Perth Mint Gold Sales 2016 – 2017
U.S. Mint American Gold Eagle Sales 2016 – 2017

American Gold Eagle sales 2016 - 2017 July16 -August17

2017 Perth Mint Gold Sales Projection

If gold sales at the Perth Mint in 2017 continue at a pace of an average of 32,352 ounces a month, (January – August sales of 226,467 divided by seven, the Perth Mint will sell about 390,000 ounces of gold in 2017.

Perth Mint Sold Approximately 17 Times More Silver Than Gold In August

The Perth Mint sold 392,091 ounces of silver and 23,139 ounces of gold in August 2017 for a silver to gold sales ratio of 16.95 to 1. In comparison, in August, the U.S. Mint sold 1,025,000 American Silver Eagles and 6,500 one ounce American Gold Eagle coins in August 2017 for a silver to gold sales ratio of 157 to 1.

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 –

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This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.