For the second month in a row, data from The Perth Mint of Australia show mixed demand for Australian bullion in May. In contrast to April, when gold sales accelerated and silver sales slowed, May saw sales of gold products slowing and those of silver rising more quickly.
The Mint’s bullion gains are measured against rising precious metals prices for May, with LBMA prices (in USD) climbing 1.8% for gold and rallying 17.3% for silver.
Perth Mint Gold Bullion Sales in May 2024
In May, the Mint’s sales of gold coins and bars increased by 23,238 ounces, representing decreases of 30.4% from April and 68.1% from the same month last year.
The Perth Mint’s General Manager Minted Products, Neil Vance, said the May results continued the trend of volatility in both gold and silver sales.
"As we have seen in recent times, this instability is a global trend. As the USD gold price has continued to trend higher, we continue to see some resistance from investors but this is inconsistent," he said.
The Perth Mint’s gold sales for the year to date total 144,804 ounces, reflecting a 58.1% decrease compared to the 345,232 ounces sold during the same period last year.
Perth Mint Silver Bullion Sales in May 2024
The Mint reported that sales of its minted silver coins and bars advanced by 796,934 ounces, showing a 16.4% increase from April but 57.6% less than in May 2023.
"I’m pleased to see silver sales bounce back after a softer result in April," Vance added. "We are continuing to work hard to design and produce minted products with wide appeal for our global customers."
Year to date, The Perth Mint’s silver sales have totaled 4,118,519 ounces, a 50.8% drop from the 8,370,120 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month through May 2024
Below is a monthly summary of Perth Mint bullion sales from January 2022 to May 2024. 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 | |
| May 2024 | 796,934 | 23,238 |
| April 2024 | 684,735 | 33,387 |
| March 2024 | 860,672 | 16,442 |
| February 2024 | 1,006,852 | 47,086 |
| January 2024 | 769,326 | 24,651 |
| 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 | November 2022 | 1,315,293 | 114,304 |
| October 2022 | 1,995,350 | 183,102 |
| September 2022 | 2,579,941 | 88,554 |
| August 2022 | 1,655,334 | 84,976 |
| July 2022 | 2,465,513 | 79,305 |
| June 2022 | 1,523,765 | 65,281 |
| May 2022 | 2,217,582 | 98,515 |
| April 2022 | 2,119,491 | 80,941 |
| March 2022 | 1,649,634 | 121,997 |
| February 2022 | 1,632,323 | 72,651 |
| January 2022 | 2,387,165 | 66,709 |
Bullion Coins Released in May 2024
In May, as reported by The Perth Mint, the following bullion coins were released:
- Chinese Myths and Legends Dragon & Koi 2024 1oz Gold Bullion Coin
- Australian Koala 2024 1oz Silver Bullion Coin
In April, as reported by Mint, the following bullion coins were released:
- Australian Kookaburra 2024 1/10oz Gold Bullion Coin
- Australian Kookaburra 2024 1/10oz Platinum Bullion Coin
- Australian Swan 2024 1oz Silver Bullion Coin
- Australian Swan 2024 1oz Gold Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Gold Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Silver Bullion Coin
- The Perth Mint’s 125th Anniversary 2024 1oz Platinum Bullion Coin
- Australian Kookaburra 2024 10oz Silver Bullion Coin
In March, as reported by the Mint, the following bullion coins were released:
- Australian Kookaburra 2024 1 Kilo Silver Bullion Coin
- Australian Wedge-tailed Eagle 10th Anniversary 2024 1oz Silver Bullion Coin
In February, the Mint reported, the following bullion coins were released:
- Australian Kangaroo 2024 1 Kilo, 1oz, 1/2oz, 1/4oz, 1/10oz Gold Bullion Coins
- Australian Kangaroo 2024 1oz Silver Bullion Coin
- Australian Kangaroo 2024 1oz Platinum Bullion Coin
In January, the Mint reported the following bullion coins were released:
- Australian Lunar 2024 Year of the Dragon 1 Kilo, 5oz Silver Bullion Coins
- Australian Lunar 2024 Year of the Dragon 1/20oz Gold Bullion Coin
- Australian Kookaburra 2024 1oz Silver Bullion Coin
SAD , SAD , SAD day for our US Mint!
The sorry sap suckers have released Brittania again – Gold & Silver
I feel cheated! Thought I’d finally nabbed a great deal and they are pulling the rug out from under us.
Makes me sick at my stomach. Like literal hatred for them inside.
The sudden cessation of sales of this offering was the most excitement I’d experienced in years of buying.
Way to go Ventris! Booh!!!
Yes, that is truly a fast one to pull on its most ardent customers.
I saw on the site a “remind me”. Did I miss an announcement about the rerelease of the L&B?
REB, there were at least 99 available each of the gold and the silver one hour ago. That’s still the case for the silver, but the gold is back to not available for now….. There was no announcement that I’m aware of.
Tony@GA, I couldn’t agree more with You!!! I can’t tell you just how disappointed I am! I did NOT think (Dumb*** me) the US Mint would do that! After the ordering period ended, the Mint went to “SOLD OUT” and when that happened, I was very happy the Mint was doing the “right” thing!! I guess I was a bit optimistic in that way of thinking. Shame on me! “Fool me once, shame on you, Fool me twice, Shame on me”!! I too feel cheated Tony!! I can’t remember exactly what happened but back in ‘13, the Rev Proof Buffalo… Read more »
AkBob,
You need to learn how to control your anger, especially dealing with the mint. They are a government entity after all and you don’t want to give yourself a heart attack over them…Lol. Sorry to hear you returned those 5 RP Buffaloes as mine are some of my favourite gold coins in my safe. If I remember correctly, they were $1640 each, that’ll buy you a 1/2 oz AGE these days. BTW, I liked your ‘dogster’ word used in another post for your dog daughters. I guess I have two dachsons in my family.
Thx Craig! I think your right about the price on those RP Buffalos! I too love that coin. I’ll be purchasing one of them most likely in the future. I now wish I still had them, obviously, lol! My wife gets the credit for coming up with Dogters for our female dogs. I liked the Dachsons you are calling them now too if you do!! I have been miffed a few times with the Mint but that back in ‘13 they had me more than miffed. Fortunately, I have a good heart in more ways than none! Glad to see… Read more »
Tony@GA, thanks for the SAD and assuredly infuriating news from our US Mint. I am shocked that they did this to their customers.(Screwed Again!) Although they will just be exhausting inventory ordered, then returned/canceled due to a myriad of reasons, doing so risks, further alienating what’s left of the, “Old Guard”. This move even upsets me and I have “no dog” in the fight. Now, let’s see how they handle that “Flowing Hair” release? Another 30 day window and resale after, until inventory is exhausted? How, who, when, can anyone actually, “trust”, what is regurgitated from the US Mints mouth?… Read more »
May 15, 2024–USM Sales Report article; (REB says) “The L&B Gold lost 15 more coins. How low can they go?” (Rick says) REB @ L&B, “Wait until the Mint starts to ship them(on 5/25 +/- ?) Then look out. There will no doubt be Mint cancellations due to CC expiration/other CC issues…Then come the(slabber-69) returns in the 2-3 weeks following shipping…Watch that coin at the Mint site(Cali)… My next question is this; 1) Will the Mint allow the CC rejects be sold to the “notify me” customers? Yes I think so… 2) Will the Mint allow the returns/rejects to then… Read more »
Then REB says.
“Very interesting. The link is reading sold out but the price change would suggest that they’re selling/have sold/will sell them again. So much for the window?”
Yep. This move today reveals what they are all about.
I’ll bet you anything they have, or will get some serious backlash for this.
Ryder would’ve put her in the corner. With a Dunce Cap.
Conjuring up Ryder as a hero (vs V) reminds me of the day I came to realize Slick Willie wasn’t such a bad deal after all.
I pretty much gave up on the U.S. Mint when they consistently violated their return policy for the big boys and raised premiums beyond acceptable limits.
My mantra since has been “Bullion, baby, BULLION!!!!!”
Yeah, you’re probably right on that one. Ryder shook things up now and again. I mistakenly thought that the big V was giving it a go.
Slick Willie would be shunned today for what used to be common sense beliefs.
Rick, respectfully I have to ask, what backlash? There is never any backlash bc the Mint makes shiny crack and we’re all addicted.
There is some backlash, some coin addiction, some seeking opportunity. That is what makes this discussion so interesting. For me I was interested in the Liberty and Britannia design more than anything else. The gold was to expensive of a route to the L&B design and the silver was a medal and not a coin. So my plan was picking up a nice version Royal Mint bullion coin which I did. I still have the same opinion about medals, but I caved for the Bucking Bronco Liberty medal. I think I will do the same for the 230th Anniv. Flowing… Read more »
We should all be reminded that the US Mint’s objective in selling numismatic products/collectibles is to make a profit. It is not to enrich/increase its customers’ future resale values.
Absolutely, brilliantly insightful, Major D; I can’t even begin to imagine any way to possibly put it better. In fact, once I read your comment I was immediately reminded of a memorable line of dialogue from the Star Trek The Next Generation episode “Darmok” in which a superior alien race releases the Enterprise from its grip upon realizing that Captain Picard has come to understand their unique language consists entirely of metaphors, to which their response is “His eyes are open.”
“Zinda, his face black, his eyes red.” or “Shaka, when the walls fell.”
Contributions gladly received at Koynus.