November 2017 Sales of Silver at the Perth Mint Were Over a Half a Million Ounces.
The Perth Mint sold 544,436 ounces of silver in November 2017. This was down 46% from October when the Perth Mint sold 1,084,213 ounces of silver. November 2017 silver sales at the Perth Mint were down 45% year over year from November 2016 sales of 984,622 ounces of silver.
Perth Mint sales of 544,436 ounces in November topped U.S. Mint American Silver Eagle sales of 385,000 in November.
November marked the fourth month over the past twelve months that Perth Mint silver sales were greater than those at the U.S. Mint. While Perth Mint sales are down 26% through November from 2016’s record year, the U.S. Mint silver sales are down 54% through November year over year and are at their lowest levels since 2007.
Through November 2017, the Perth Mint has sold 8,761,971 ounces of silver. The U.S. Mint has sold 17,323,600 American Silver Eagles through November 2017.
Perth Mint Silver Sales November 2016 – November 2017
Perth Mint Silver Sales 2014 – 2017
The dramatic increase in silver sales at the Perth Mint since the fall of 2015 is attributable to the introduction of the one ounce silver Australian Kangaroo coin in September 2015. This coin 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.
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.