Australian bullion sales declined in June and are significantly lower in the first half of 2024 compared to last year, according to data from The Perth Mint of Australia.
The Mint’s bullion gains are measured against falling precious metals prices for June, with LBMA prices (in USD) sliding 0.7% for gold and dropping 7.7% for silver. However, during the first six months of the year, gold prices surged by 13%, while silver prices soared by 21.4%.
Perth Mint Gold Bullion Sales in June and First Half 2024
In June, the Mint’s sales of gold coins and bars increased by 22,520 ounces, showing decreases of 3.1% from May and 69.2% from the same month last year.
"Sales of our Australia Sovereign 2024 gold proof coin, which was only released on 20 June, have exceeded our expectations. I’m thrilled collectors have loved the design as much as we do," said Neil Vance, The Perth Mint’s General Manager of Minted Products.
"We acknowledge the challenging conditions that continue to exist for all producers of precious metals minted products around the world. Our focus remains on producing high quality and highly collectable coins and bars to meet the expectations of our collectors and investors."
The Perth Mint’s gold sales through the first half of 2024 total 167,324 ounces, a 60% decrease compared to the 418,356 ounces sold during the same period last year.
Perth Mint Silver Bullion Sales in June and First Half 2024
The Mint reported that sales of its minted silver coins and bars advanced by 491,946 ounces, with drops of 38.3% from May and 62.9% from June 2023.
For the first half of 2024, The Perth Mint’s silver sales total 4,610,465 ounces, a 52.5% drop from the 9,696,131 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month through June 2024
Below is a monthly summary of Perth Mint bullion sales from January 2022 to June 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 | |
| June 2024 | 491,946 | 22,520 |
| 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 June 2024
In June, as reported by The Perth Mint, the following bullion coins were released:
- Australian Quokka 2024 1oz Silver Bullion Coin
- Australian Koala 2024 1 Kilo Silver Bullion Coin
In May, as reported by the 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
Sorry, nothing against Australia– but I need to say RIP Bob Newhart, one of the funniest our nation has produced.
Agree. Newhart will be missed. Very funny man.
East Coast Guru and Major D,
I would be honored to align myself with your joint praise of and salute to one of the funniest people to ever grace the planet. It would be difficult if not impossible to show adequate gratitude to this very amazing individual for all the joy and laughter he brought us over the many decades of his truly unique career.
“In June, the Mint’s sales of gold coins and bars increased by 22,520 ounces, showing decreases of 3.1% from May and 69.2% from the same month last year.”
Is it just my imagination or is this sentence from the Perth Mint’s sales report somewhat confusingly written? Between the statement of “increased” sales and the subsequently mentioned “decreases” it’s a bit difficult to understand exactly which or what the case is. While I think in the final analysis I do comprehend the meaning, I’m not sure that was the best way to describe it.
Kaiser, I agree, there was definitely multiple ways to note/rephrase this sales “increase” and percentage decrease from the previous year, that would have conveyed the message more clearly. “In June, the Mint’s sales of gold coins and bars increased by 22,520 ounces, showing decreases”. For instance: In June, the Mint’s sales of gold coins and bars tacked on 22,520 ounces, a decrease of 3.1% from May and 69.2% from the same month last year. At least to me this seems a bit more clear?
CaliSkier,
Thanks you so much for your extremely valuable and most definitely right on point input regarding this question of the Perth Mint’s seeming lack of clarity in their version of an explanation. Your alternate wording takes the mystery out of the original confusing presentation and creates an easily comprehensible statement instead.
Kaiser, I agree it’s confusing. Perhaps what was meant is that even though the cumulative sales increased by 22,520 oz, it represents a 3.1% decrease from the previous month’s sales and a 69.2% decrease from the previous year’s sales for the same month.
Major D,
Thank you so much for weighing in on this since I had begun to wonder if I was perhaps being either a bit dense or overly picky regarding the way the Perth Mint worded that. I see now from both your and CaliSkier’s comments that I am not alone in believing that statement could have been expressed far more clearly. In that regard, many thanks also for contributing that very clear explanation of what the Perth Mint had actually been trying to say but apparently tripped on.