Australian sales of bullion coins and bars tumbled in February, according to the latest round of Perth Mint figures.
The Mint’s gold sales fell to their lowest level in six months and their silver sales more than halved from January.
"In line with the worldwide trend, demand for Australian bullion coins and bars was significantly quieter in February," the Perth Mint said. "Growing confidence in the prospect of improving economic conditions has seen increased demand for alternative assets at the expense of precious metals."
February sales of Perth Mint gold coins and gold bars at 25,257 ounces registered declines of 65.3% from January and 31.9% from February 2016.
However, for the year to date, gold sales total 98,002 ounces for a 15.5% increase over the 84,822 ounces delivered in the first two months of last year.
The Perth Mint sold 502,353 ounces in silver bullion last month, marking declines of 59.2% from the previous month and 52.1% from a year earlier.
Their silver sales tally to 1,733,220 ounces for the year, down 31.3% from last year’s opening two-month total of 2,522,470 ounces.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from February 2016 to February 2017. The figures show monthly ounces of gold and silver shipped by the Minted Products division of The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| February 2017 | 502,353 | 25,257 |
| January 2017 | 1,230,867 | 72,745 |
| December 2016 | 430,009 | 63,420 |
| November 2016 | 984,622 | 54,747 |
| October 2016 | 1,084,231 | 79,048 |
| September 2016 | 1,031,858 | 58,811 |
| August 2016 | 376,461 | 14,684 |
| July 2016 | 693,447 | 16,870 |
| June 2016 | 1,220,817 | 31,368 |
| May 2016 | 974,865 | 21,035 |
| April 2016 | 1,161,766 | 47,542 |
| March 2016 | 1,756,238 | 47,948 |
| February 2016 | 1,049,062 | 37,063 |
Who do you trust and how does some of these companies that sell gold and silver even know if they are selling the fake Stuff that I’m hearing more and more about. Can Coin News.net give us heads up on any information they know about?
I normally buy US Silver Eagles an certified coins
are Perth Australian Mint coins any better than
US Mint
I’m surprised this site has not discussed the release of the 2017 silver Krugerrands.
michael angiolillo – This coin blog website devotes approximately 60 percent of articles to US Mint products, 20 percent to Royal Canadian Mint products & 20 percent to Perth Mint Australia products. It rarely covers any other Mints such as the Royal Mint of Britain (oldest in the world at over 1,000 years old & produces coins for 60 different countries on contract), the Royal Australian Mint, the 5 official state Mints of Germany, the Austrian Mint (second oldest in the world), the Casa de Moneda de Mexico (over 500 years old official Mint of Mexico & our neighbor to… Read more »
So other-wise save my
money back in my
pocket
Nels,
If you’re looking for a legitamate source, the US Mint’s website has a list of Bullion dealers purchasing in bulk from them. Most of these dealers also buy from the foreign government Mints across the globe.