Australian bullion demand rebounded in July, according to figures from The Perth Mint of Australia, with sales of silver products the highest in five months and gold sales the best in three months.
The Mint’s bullion gains are measured against divided precious metals prices for July, with LBMA prices (in USD) surging 4.1% for gold but falling 1.1% for silver.
Perth Mint Silver Bullion Sales in July 2024
The Perth Mint reported that July sales of its minted silver coins and bars advanced by 939,473 ounces, with increases of 91% from June and 8.8% from July 2023.
"We had a particularly robust month for silver sales in the United States, which is our biggest market," said Neil Vance, The Perth Mint’s General Manager of Minted Products.
"And we saw a strong response to two key silver coin releases, the 1oz Rectangular Dragon coin, and the Next Generation Australian Emu 2oz coin."
Year to date, the Mint’s silver sales total 5,549,938 ounces, a 42.2% decline from the 10,559,616 ounces sold during the same period last year.
Perth Mint Gold Bullion Sales in July 2024
In July, the Mint’s sales of gold coins and bars increased by 25,457 ounces, showing an increase of 13% from June but a decline of 42.2% from the same month last year.
The Perth Mint’s gold sales so far for the year total 192,781 ounces, a 58.3% decrease compared to the 462,365 ounces sold during the same period last year.
Perth Mint Gold and Silver Sales by Month through July 2024
Below is a monthly summary of Perth Mint bullion sales from January 2022 to July 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 | |
| July 2024 | 939,473 | 25,457 |
| 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 July 2024
In July, as reported by The Perth Mint, the following bullion coins were released:
- Dragon 2024 1oz Silver Rectangular Bullion Coin (individual and in tube)
- Dragon 2024 1oz Gold Rectangular Bullion Coin
- Next Generation Australian Emu 2024 10oz Silver Piedfort Bullion Coin (previously mother and baby)
- Next Generation Australian Emu 2024 2oz Silver Piedfort Bullion Coin (individual and in tube)
In June, as reported by 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
Bullion Coins That Sold Out
The Mint also reported that the following bullion coins "recently sold out:"
- 2023 Australian Brumby 1oz Silver Bullion Coin
- 2024 Wedge-Tailed Eagle 1oz Silver Bullion Coin
Interesting, despite the rebound, the article states: “Year to date, the Mint’s silver sales total 5,549,938 ounces, a 42.2% decline from the 10,559,616 ounces sold during the same period last year.” US Mint YTD silver declines as well. I wonder if the same is true for RCM and TRM.
Major D,
Just as a random aside, it appears that while some folks are content to hoard plain old pennies from circulation, others prefer to make arrangements to have rather fancier one ounce silver bullion coins hoarded for them. Yet another instance of each to his own. And as can also be said in this regard, “Not that there’s anything wrong with that.”
It would be hard for me to allow someone else to hoard & hold any coins or rounds for me. I’m more of a ‘hands on’ kind of collector.
Rick,
Believe me, I couldn’t do that either. My collection has to be within reach at all times. But then, I think I didn’t make my statement as clear as I could have. I was referring to folks who require industrial size vaults to store and safeguard their much larger than ordinary treasure troves and who are vastly more concerned with the pure value of their precious metal coin hoards as opposed to the numismatic particulars of any component of them.
Well then, we might want to check in with our friend Craig right here regarding his industrial sized precious metals vault full of treasures!
＼(°o°)／
As far as being more concerned with pure value as opposed to the numi particulars we might want to check in with the relatives of folks that in some cases centuries ago buried their precious metal hoards in the English countryside, or the farms in KY and see what they had to say about that practice…
¯\_ʘ‿ʘ_/¯
Rick, I guess I must have missed any mention of Craig having Scrooge McDuck-sized treasure chambers but then that’s one of the joys of being on here; there is no end of surprises! I’m not sure what to make of people who somehow managed to have the means substantial enough to be able to accumulate gold and silver hoards but did not correspondingly have the wherewithal to find less grubby ways than burial of keeping their precious metal gains safe from theft. I don’t know how that would work, but then I can’t say I was there to monitor the… Read more »
I lot of past comments on taxpayers subsidizing US Mint products. Here’s what the Mint says: How do you price your products? – Official US Mint Store
Major D,
“We cannot use any tax dollars to fund our numismatic operations.”
Thanks for the reference, the link, and for putting this question to rest once and for all.
Interesting or perhaps somewhat ironic Major D, as over on the old Mint News Blog site, we’d talk about the tax paying, numismatic, US Mint customer, actually subsidizing the US Government.
CaliSkier,
It has always been my understanding that it is the average taxpayer – and that could of course include any one or all of us – who bears the brunt of picking up the cost of the US Government’s ongoing operating expenses. The only amount that those of us who purchase from the Mint contribute to that expense is what the Mint hands over in seigniorage to the General Fund of the US Treasury every year, and compared to what gets collected in Federal Taxes every year that’s less than a drop in the bucket.
Did you know, that the hobby of numismatics, entails the collecting or study of any of the following, such as tokens, coins, medals, as well as paper currency? These categories can be, and are often areas that numismatists specialize in, within numismatics, according to the American Numismatic Association(ANA). Additionally, to clarify, the ANA defines a numismatist as one who studies money in any of its forms and that, “there are no prerequisites to becoming a numismatist, other than a yearning for knowledge of anything to do with money in any form”. As best I’m able to discern, there are at… Read more »
CaliSkier,
“Another is “exonumia”, which consists of anything used as currency, that is not paper currency or coins. Items such as tokens, medals, wooden nickels, are examples included in exonumia.”
I’m just checking here, but is it in any way possible you instead meant to say “which consists of anything NOT used as currency”?
Thanks.
Sir Kaiser, a good question, however after again looking at the source I used(link below, US Money, (“Subfields of Numismatics”), that’s exactly how they stated it. Perhaps a slight twist or parsing of words might or may warrant a slight tweak, perhaps? Yet I do tend to agree overall with how it’s stated after reviewing multiple other sites and how they describe “exonumia”, they are all quite similar IMO. https://www.usmoneyreserve.com/news/executive-insights/what-is-numismatics/ On the Token and Medal Society(TAMS) website, they write: “What is Exonumia? Exonumia was defined by TAMS founding member, Russell Rulau in 1960. It refers to collectible items other than… Read more »
CaliSkier, “Maybe if it read like the following? “Another is “exonumia”, which consists of anything used as currency, in addition to medals, that is not paper currency or coins.” Thank you so much for taking all that time and effort to research, report, explain, clarify and last but certainly not least actually solve the problem. You are absolutely correct that it was that (one would think) minor “jumbling” of the other types of (having cash value) exonumia with the (no cash value but still exonumia) medals that was responsible, so to speak, for the entire original misunderstanding. I just hadn’t… Read more »
‘exonumia’ is defined as numismatic items other than paper currency or coins. This includes ‘good for’ tokens, badges, counterstamped coins, elongated coins, souvenir medallions, tags, wooden nickels, and other similar items. Personally, I always thought a coin was a coin regardless whether it’s elongated, curved or circular in shape. I’d say that word is destined for the trash bin!
Craig, I’ve always thought of “numismatic” as relating to currency (numbers/face values). Hence the term “exonumia” with the prefix “exo” as being outside of currency. So, any medals (even from the US Mint) are not numismatic, technically speaking, regardless of how the US Mint classifies them. But in reality, the TPGers will grade and slab coins and medals alike in similar fashion so by that standard it’s all “numismatic”. As for “elongated coins” (and “counterstamped coins” for that matter) as still being coins I guess the question is whether the degree of mutilation alters the currency aspect to render them… Read more »
Major D,
As hoped for/dreaded/predicted/feared/anticipated, the Exonumia Wars have indeed commenced. I do find that word a bit humorous, but then, I’m less thana novice in the field so I’ll sit back and let the people who know somthing about it do the commenting while I listen.
Craig, It seems a Pandora’s Box has inadvertently been opened here in regard to how the term exonumia and the items gathered within the orbit of that terminology fit in with the entire field of numismatics as such. I am a bit surprised that this word and what it refers to seems to possess such a life of its own as prior to the beginning of this discussion I knew virtually nothing about any of this. But since I’m here to participate and hopefully to learn along the way I’m up for becoming better acquainted with exonumia, bring what it… Read more »
Kaiser, you should check out Numista.com
There is literally a world of coins, medals and tokens stretching back to antiquity at your fingertips. There’s an exonumia catalog as well as a coin catalog there. I think you’d get a kick out of looking through the German coins. Coin catalog – Numista Toggle down on the All issuers until you get to Germany and German States
Kaiser, this is interesting as well:
Ethnic Groups of the United States 1820-2023 | US Population by Ancestry (youtube.com)
German #1 since 1867
Love that Civil War Token Cali! Just “shoot him” I own one myself sir.
Tony@GA,
Am I just not reading the words on this FLAG OF OUR UNION token properly or does it in fact say around the center of the reverse “SHOOT HIM ON THE SPOOT” as opposed to the correct “SHOOT HIM ON THE SPOT“?
You Sir Kaiser, have earned the “Coin News Detective” Badge! This is an “error” token! This Coin World
article mentions the error. Titled, “When the Stars and Stripes come under fire” by Brad Karolef.
https://www.coinworld.com/news/us-coins/stars-and-stripes-come-under-fire-once-again.html
PS Some of us were able to read a Mint News Blog article on the subject, prior to CDN Publishing, launching that site into a “Black Hole”. Wondered if anyone would catch the misspelling? Sure enough, “Detective Kaiser”, nailed it!
CaliSkier, I am positively thrilled to be granted this most estimable of awards, the “Coin News Detective” Badge. I hate to have to ask, but is there by any chance a monetary adjunct to this such as is customarily bestowed with the Nobel Prize, and hopefully so in the substantial six figure realm? One can dream. Thanks for the link also. That was a fascinating article about this token, how it came into existence and why it is misspelled. The Civil War; wow! By now you are likely aware that not only do I read every word of each and… Read more »
CaliSkier,
In the brief time since you so kindly gave me the Coin News Detective badge I have had the remarkably good fortune to be elevated to a yet more exalted position per new badge below:
Major D, i believe the culprit of higher prices for numismatic products is CONGRESS! If you think about the expense involved in development, production, sales, and disposal of the Commemorative and multi-year quarter programs it is fairly easy to understand. On a per coin basis the mint and proof sets are tremendously less expensive than the mandated programs because the only design changes are the dates! If there were only circulating coins and their mint and proof sets, those mint and proof sets would be MUCH cheaper. Keep in mind that the costs are spread out over the entire numismatic… Read more »
Second time’s the charm… Minus the link to the Mint’s Annual Report DaveSWFL, I was surprised to learn that in FY23 (from the Mint’s 2023 Annual Report, page 24) the Annual Core Products (Silver Proof Set, Proof Set and Uncirculated Set) had a loss of $7.9 million in Net Income & Seigniorage ($38.8 million in Sales Revenue minus $46.7 million in Gross Cost). The loss was much greater in FY22 ($18.0 million) and slightly less in FY21 ($4.5 million) but still a loss. Also, that these Annual Sets are required to be produced by Federal statute (page 22). The gold,… Read more »
Major D,
I’m so glad you’ve taken the time and trouble to provide us with these many clarifying and enlightening facts and statistics and straight from the source at that, the United States Mint. This should hopefully put an end to a lot of the ongoing speculation that in and of itself has done little in the way of getting us anywhere in respect to what the production requirements and the financial realities of the Mint in fact are. Many thanks for the extremely useful tutorial.
I can’t recall, maybe Major D, Craig, Rick had previously mentioned free American Womens Quarter Coin boards being given out by the US Mint, absolutely no charge! I thought I’d ordered some, yet couldn’t recall receiving them. I had one of those click bait type, e-mails from the Mint today saying: “Your cart still has something your collection needs…” By chance, the product showing in my e-mail was for the “American Women Quarters™ 2022 Collector Coin Board”. As I said I thought I ordered, forgot about them and now went and just completed an order for the HHL of 2… Read more »
The honor and thanks go to Kaiser. He was the one that first brought the Mint’s free complimentary AWQ boards (with free shipping) to our attention here.
Major D,
A very hearty thank you goes out to you, kind Sir, for doing me the honor of attribution regarding the information for the procurement of the Mint’s free AWQ coin boards. Much obliged indeed!
Thanks Kaiser Wilhelm and Major D for remembering that it was sir Kaiser bringing the “AWQ Free Coin Board” information up months ago. Glad you took advantage as well DaveSWFL and absolutely love your idea for your plan to gift one to your granddaughter! Brilliant! Also agree with, “finally a gift from the Mint.”
CaliSkier,
You’re most welcome. It was indeed my pleasure to share some information that resulted in our people here being able to get something useful and fun from the Mint, and free at that for a change!
Cali,
I don’t have a problem equating “coin news” with “numismatics”… They are one in the same to me and that’s how I interpret both. I like to keep things simple though. It’s a good thing to be reminded that quirks(an endearment )like myself, you, and Cag, with our diverse take on numismatics makes us true numi guys in our own unique ways.
I knew the meaning of the word before your post, and as a matter of fact I’ve always considered you to be a numismatist.
Rick,
“…our diverse take on numismatics makes us true numi guys in our own unique ways.”
If you ask me, that’s about as good a description of our site here as I’ve ever seen!
Cali,
Thanks for the AWQ boards link – just ordered mine. Finally, a gift from the mint. I’ve got uncirculated P&D for each year for my granddaughter and these boards will be a great way for me to introduce her to collecting.
DaveSWFL,
That is a very thoughtful gesture and should be well received. I can’t help but trust and believe she will enjoy this gift from her grandfather. Kudos, my friend!
@AKBob – Funny you ask about the Flowing Hair gold in the last article. I was playing with the pics yesterday and this is what I came up with based on some graded 1794 and 1795 issues of the Flowing Hair. I’ll see how many pics I can insert so it may take more than one post. Looks like I can only do one at a time.
Reverse of 2024
1795 Reverse
1794 Reverse
1795 obverse
1794 Obverse
I didn’t get them in the order I wanted with the reply buttons. Here’s a more yellow gold for the 2024 obverse.
2024 Reverse with more yellow in the gold color…
sharks2th,
This is a really great lineup of photos involving, or should I say celebrating, this unique and gorgeous old coin. Much appreciated!
Sharks2th,
Great pics! Thank you for sharing.
Sharks2th, oh my, thank you for providing these photos. I really like the coin! It’s going to be interesting what color it’ll end up being. I love the coin I must say. Now I just want it in my “hot little hands”!!! I’ve never actually held a raw one oz gold coin in my hands, they’ve always been in either a capsule or in a graded holder! I want to hold a raw, ungraded gold coin! I want to touch and feel it, not have to hold it by it’s edges. I’m going to have to risk purchasing a raw… Read more »
AKBob I mentioned before I typically don’t buy gold coins from the US Mint, because I choose to spend my money elsewhere. The only think I have bought are the 2009 UHR and the 2021 1/10th oz. ty 1 and ty 2 gold eagle. In the 2000, I wanted a 2000 dated gold coin. I was sort put off by the price premium for the gold proof eagle (yes even then). I waited to long. That forced me into getting a year 2000 bullion gold eagle from a local coin dealer. This was probably a good thing. I hold it… Read more »
Spot silver keeps pecking at that $30 an ounce barrier but can’t seem to break through.
Thanks shark for the photos,
Albeit clean and digitized, the new FH looks good. I think the real one will look better than the rendering.
It will be a more yellow color as well because of purity. An image of a 91.67% coin below..
And an image of a 99.99% coin like the FH will be. More of the ‘yellow metal’ going on there…
Rick, funny, the photo of the 2015 is the only American Liberty Gold coin I don’t have. I didn’t like it when it came out and I still don’t like it, lol! I do plan on purchasing one tho. Only one tho. I’ve got at least two of all the others and three of a couple. Can’t have too much gold, right? In really like the r3verse but the obverse not so much. It is starting to kinda grow on me tho.
Agree AKBob, I always referred to this one as the Angelina Jolie coin. Yuck. I don’t think it has appreciated much since its issue date outside of the gold value. Better off buying straight bullion.
ECG, you are right about the appreciation of the 2015 American Liberty one ounce 24-karat gold high relief coin resulting from the gold value. The coin launched on July 30, 2015 with an initial US Mint price of $1,490; today’s retail price is approximately $3,000 (in OGP).
AKBob, Gold is great! Funny thing is, is that the 2015 is the ‘only’ Liberty coin that I have lol. I picked it up from the Mint for $1490, wow those were the days?!. I wish I kept going with the Liberties from the Mint(or eBay)no doubt! I lost my way and now they ain’t cheap! (I stepped things up with AGE’s in 2020)… I pulled it out of its OGP and sent it in(both coins above) this year and I’m glad that I did.. It’s looking like that 2015 ”Grecian modern classic” look with the gown, headdress, flag and… Read more »
Rick,
This 2015 Liberty Gold Coin and the 2017 Liberty Gold version that won Best Coin in the World are my two favorite Liberty Gold Coins of the series. And you just said it best in regard to their appeal, to wit, “But hey, if they’re winning awards and everything”! Amen to that!
AKBob,
It’s funny that we agree on so much except for some of the more modern renderings of traditional tropes such as that of Ms. Liberty, for example, on this particular gold coin. This coin is a perfect example of that divergence of ours since it sports one of my all-time favorite depictions of Lady Liberty, one that extends all the way from her reassuringly confident and determined expression to the heavy-looking flaming torch she is holding with seeming ease and the beautifully waving American flag she is so obviously having no trouble proudly keeping steady in a strong breeze.
I agree Rick, the FH gold should be more yellow and not orange since it will be .9999 fine. I was curious what the gold would look like so I changed the color temperature to give the new and old ones a gold tone.
sharks2th and Rick,
Best be careful, guys, or the Mint might soon be so admiring of your work you could well be “drafted” to do your fine color adjustments right at their coin catalog facility!
Send me all your coins and I’ll turn them to gold 🙂 🙂 🙂
Your friend Midas…
Sadly, if legend prevails, Oh King of Gold, you will have starved by then. 😉