In December, Australian bullion sales showed a slight increase for silver-struck products but experienced a significant slowdown for those minted in gold, according to the latest figures from The Perth Mint of Australia.
In the course of 2023, the Mint witnessed a decrease in bullion sales for both gold and silver products in contrast to the strong performance in 2022 when they achieved annual totals not seen since CoinNews started collecting their data in 2013.
The Perth Mint’s bullion gains compare against divided precious metal for December and 2023, with LBMA prices (USD) rising 1.3% for gold and dropping 4.9% for silver in December, while for the year, they soared by 13.8% for gold but slipped 0.6% for silver.
December and Annual 2023 Perth Mint Gold Bullion Sales
The Mint’s total sales of gold coins and gold bars in December amounted to 36,297 ounces, the lowest monthly total since August. This represents a decline of 32.2% from November and a 40.1% decrease compared to December 2022.
"As well as a noticeably slowdown in demand for gold bullion products in the USA, our Coining Division closed for the year on 23 December, with a consequent reduction in ounces shipped," said Neil Vance, General Manager Minted Products.
In 2023, The Perth Mint recorded annual gold bullion sales of 665,889 ounces. Below, you can find a year-by-year comparison:
- Down 40.4% from the 1,116,969 ounces in 2022
- Down 36.6% from the 1,050,242 ounces in 2021
- Down 14.5% from the 778,797 ounces in 2020
- Up 71% from the 389,463 ounces in 2019
- Up 65.6% from the 402,049 ounces in 2018
- Up 82.2% from the 365,410 ounces in 2017
- Up 28% from the 520,295 ounces in 2016
- Up 46.1% from the 455,630 ounces in 2015
- Up 28.9% from the 516,709 ounces in 2014
- Down 11.8% from the 754,636 ounces in 2013.
December and Annual 2023 Perth Mint Silver Bullion Sales
In December, the Mint reported sales of 681,490 ounces for minted silver coins and bars, marking a modest increase of 1.3% from November when they reached a 45-month low but reflecting a significant drop of 58.3% compared to December 2022.
"With several key releases scheduled in coming months, including January’s launch of the Australian Kookaburra 2024 Silver Bullion Coin Series, we’re hopeful of a strong start to the new year," Vance said.
The Perth Mint’s annual silver bullion sales in 2023 totaled 14,896,564 ounces. Here is the year-by-year comparison:
- Down 35.7% from the 23,176,142 ounces in 2022
- Down 22% from the 19,091,681 ounces in 2021
- Down 9.5% from the 16,452,490 ounces in 2020
- Up 28.7% from the 11,573,602 ounces in 2019
- Up 61.2% from the 9,243,058 ounces in 2018
- Up 54.6% from the 9,636,408 ounces in 2017
- Up 21.7% from the 12,236,766 ounces in 2016
- Up 28.5% from the 11,595,504 ounces in 2015
- Up 96.9% from the 7,567,467 ounces in 2014
- Up 72.3% from the 8,647,862 ounces in 2013.
Monthly Perth Mint Gold and Silver Bullion Sales Since December 2022
Below is a monthly summary of Perth Mint bullion sales from December 2022 to December 2023. The figures show monthly ounces of gold and silver shipped as minted products by 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 | |
| December 2023 | 681,490 | 36,297 |
| November 2023 | 672,623 | 53,520 |
| October 2023 | 1,073,553 | 42,302 |
| September 2023 | 1,116,779 | 36,530 |
| August 2023 | 792,503 | 34,875 |
| July 2023 | 863,485 | 44,009 |
| June 2023 | 1,326,011 | 73,124 |
| May 2023 | 1,881,001 | 72,889 |
| April 2023 | 1,947,743 | 75,166 |
| March 2023 | 1,823,096 | 80,541 |
| February 2023 | 1,484,936 | 52,241 |
| January 2023 | 1,233,344 | 64,395 |
| December 2022 | 1,634,751 | 60,634 |
Gold looks like it is returning to pre pandemic numbers., the average seems close, but silver is all over the place 1 year 11 million 2 years later 19 million. And no correlation to gold. Silver is the wild erratic. I wonder why. What changed. How does it compare to other global mints? If other countries reports are accurate and not trying control market or manipulate their currency like China was doing years ago, are total sales correlative, meet world average from before. Did it even out. Did other countries have higher months because of the release dates, or available… Read more »
Hmmm. Thr kookobama coin. Has a ring to it.
That does indeed ‘have a ring to it’ Dazed, but why ruin a good thing. The kookaburra coin is one of my favourites, especially in the 1 kilo offering, and let’s just appreciate the bird, not the turd. That has a ring to it also!
Gold and silver sales are down worldwide, how can this be? Please don’t tell me that bidenomics isn’t working, because it certainly is. How do I know? Joe keeps telling me it is, and that’s good enough for me. If figures about the percentage of people living pay check to pay check are accurate, (I never take gubermint stat’s seriously), why would anyone expect Au and Ag sales to ‘shoot to the moon, Alice.’ I’m not an economist, but J. Dimon (Thanks Jamie for a wonderful JPM earnings report!) is more concerned about inflation being stickier and interest rates remaining… Read more »
So which do you prefer for the other half of the coin, Liz or Chuck? I’m guessing it must be easier to design a coin when you only need to worry about one side.
It should be Charles, but I have seen on Magic Mike’s HSN show, where a 2024 coin still had Elizabeth’s portrait on it. She was much more popular than Charles. Personally, I think mints started using ‘portraits’ on the obverse of coins because the artistic creativity pool is all but gone. See the reverse of our ASE for an example. That is one of the reasons I’m drawn to, and collect, pre-modern coinage. I still buy from the Mint but last year it was limited to the Morgans/Peace Dollars and the AGE. I’m hoping the mints price points for this… Read more »
Creativity pool is gone. Well duh. But I don’t get your point. Sounds like you say portrait is a cop out. But you collect morgan peace (bust) and ase (full body pic). Morgan and peace basically unchanged for 100 years. 25 to 40 years of production and very little detail. Same for ase. Started in 80s and even after revamp, basically the same, the eagle changed, from full body to a bust. That was artistically different. But otherwise they all look like rubbing or traced from the previous year and they etched with same tools, granted maybe with shaking hands… Read more »
Dazed, This country is becoming the new Africa. In fact, I wouldn’t be surprised if our beloved political ‘leaders’ don’t write a law to rename it ‘Afrimerica.” I better hurry and trademark that! Personally, I’m benefiting from all the chaos through certain strategies being implemented in the stock market. These have made me quite happy over these last few years. You have to be involved in the AI boom. It does make you wonder why corporations need all these illegal immigrants, millions of them, when advanced AI software is intended to eliminate a lot of workers. I think I’d rather… Read more »
More of Subject matter collector. Love the back of $2 bills. Mayflower 400. Military. Space. Not much on portraits, they should have caricature artists do them every year. I can see them now. FDR roller skating. Washington as a dentist. Lincoln in thr Hamilton play. Jackson as a banker or casino operator.
UK should do 2 face coin. Half the face QE. Other half of face is chucky