March 2018 Sales of Silver at the Perth Mint Were Nearly One Million Ounces.
The Perth Mint sold 975,921 ounces of silver in March 2018. This was down slightly from February when the Perth Mint sold 992,954 ounces of silver. March 2018 silver sales at the Perth Mint were up 36.2% year over year from March 2017 sales of 716,283 ounces of silver.
Perth Mint sales of 975,921 ounces in March topped U.S. Mint American Silver Eagle March sales of 915,000. While Perth Mint gold sales have been consistently outselling the U.S. Mint gold sales for the past 12 months, the U.S. Mint continues to hold the edge over the Perth Mint in silver sales in 2018. Last year, the U.S. Mint sold 18,065,500 one ounce American Silver Eagles while the Perth Mint sold 9,636,408 ounces of silver
Through the first three months of 2018, the Perth Mint has sold 3,036,236 ounces of silver. The U.S. Mint sold 5,092,500 one ounce American Silver Eagles during the same time period.
Perth Mint Silver Sales March 2017 – March 2018
Lower Silver Pricing Boosting Silver Sales?
Solid silver sales appear to be benefiting from lower prices relative to gold. Gold has risen more on a relative basis than silver since both metals bottomed in late 2015. Since then the gold silver ratio has risen to over 80-1, making silver more attractive to some investors than gold.
Perth Mint Silver Sales 2014 – 2018
In September 2015, silver sales at the Perth Mint increased dramatically due to the introduction of the one ounce silver Australian Kangaroo coin. This Australian Silver Kangaroo was released at a time when the major sovereign mints like Canadian and United States Mints were having difficulty meeting demand due to shortages in silver blanks needed to produce Canadian Silver Maple Leaf and American Silver Eagle coins.
Australia’s Perth Mint, unlike the United States Mint, produces its own silver blanks, so the Perth Mint was not reliant upon the ability of third parties to provide them with blanks and was able to ramp up production of its Australian Silver Kangaroo coins relatively quickly.
The Australian Silver Kangaroo was produced with the intention that it would not have a limited mintage like other Perth Mint silver coins like the silver Koala and silver Kookaburra.
Although the Perth Mint does not provide a break-down of monthly sales of each silver coin it mints, the bulk of silver sales at the Perth Mint now come from the Australian Silver Kangaroo.
BGASC has 2017 and 2018 Perth Mint Australian Silver Kangaroos available for sale individually, in rolls of 25 and in mini monster boxes of 250 coins.
Perth Mint Australian Silver Kangaroo coins are IRA eligible.
About the Perth Mint: The Perth Mint is Australia’s only precious metals refinery and the only major government mint to also operate a refinery. The Perth Mint also sells gold coins.
Perth Mint silver sales data: The Perth Mint Blog
This article by BGASC is not, and should not be regarded as, investment advice or as a recommendation regarding any particular course of action.