2017 gold kangaroo

Perth Mint Gold Sales Soar While U.S. Mint Gold Sales Drop

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Perth Mint Gold Sales Out Pace U.S. Mint Gold Sales for Seventh Month in a Row

The Perth Mint continued to sell healthy amounts of gold in September. In addition to the undisclosed amount of cast gold bars shipped to China, the Perth Mint reported selling 46,415 ounces of gold in September 2017, up 101% from the 23,130 ounces of gold in August 2017 and down 21% Perth Mint’s September 2016 gold sales of 58,811 ounces. September Perth Mint gold sales marked the seventh 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 January- September 2017, the Perth Mint sold 272,882 ounces of gold, while the U.S. Mint sold just 171,000 ounces or 37% less gold. During 2017, the Perth Mint has sold more gold than the U.S. Mint for the last seven months in a row.

Through the first nine months of 2017, the Perth Mint has sold 272,882 ounces of gold, down 16% from 323,080 ounces of gold sold during the sale period of 2016. In contrast, U.S. Mint American Gold Eagle sales of 171,000 are down 70% for the first nine months of 2017 vs the 565,000 ounces sold during the same period of 2016.

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Perth Mint Gold Sales 2016 – 2017

Perth Mint gold sales September 2016 September 2017

Perth Mint Gold Sales vs. U.S. Mint Gold Sales

The Perth Mint’s gold sales have outpaced the U.S. Mint sales of one ounce American Gold Eagle coins for the past seven months as shown below:

Perth Mint vs US mint gold sales July 2016 - September 2017

2017 Perth Mint Gold Sales Projection

If gold sales at the Perth Mint in 2017 continue at a pace of an average of 30,320 ounces a month, (January – September sales of 272,882 divided by nine, the Perth Mint will sell about 365,000 ounces of gold in 2017.

Perth Mint Sold Approximately 15 Times More Silver Than Gold In September

The Perth Mint sold 697,849 ounces of silver and 46,415 ounces of gold in September 2017 for a silver to gold sales ratio of 15.03 to 1. In comparison, in September, the U.S. Mint sold 325,000 American Silver Eagles and 8,000 one ounce American Gold Eagle coins in September 2017 for a silver to gold sales ratio of 40.63 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 – USmint.gov

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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.