Perth Mint Gold and Silver Bullion Sales Tumble in February

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

See official article from the Perth Mint

2015 Australian Wedge-Tailed Eagle 1oz Silver Bullion Coin

2015 Australian Wedge-Tailed Eagle 1oz Silver Bullion Coin from the Perth Mint

2015 Australian Wedge-Tailed Eagle 1oz Silver Bullion Coin

The Perth Mint is delighted to offer investors a new bullion coin featuring this majestic bird which is known to soar to dizzying heights.

The coin’s reverse depicts an impressive Wedge-tailed Eagle in mid-flight as it prepares to land on a tree branch. The design also includes the inscription AUSTRALIAN WEDGE-TAILED EAGLE, the 2015 year-date and The Perth Mint’s ‘P’ mintmark.

Each bullion coin is presented in an acrylic capsule, from an unlimited mintage.

2015 Australian Wedge-Tailed Eagle 1oz Silver Bullion Coin

2015 Australian Wedge-Tailed Eagle 1oz Silver Bullion Coin

 

One of our favourite silver bullion coins of 2014, indeed of modern times, the Wedge-Tailed Eagle coin designed by John Mercanti for the Perth Mint had its debut last year. First released as high-relief silver and gold coins with mintages of 10,000 and 1,000 respectively back in January 2014, they followed up with a standard silver proof and a fantastic five-ounce high relief coin last May. This year will almost certainly see new releases of most, or all of those.

The bullion coin, while not as impressive as the completely sublime High-Relief versions, remains a beautiful piece, and if last years mintage limit is repeated, a relatively rare one by bullion standards.

COIN Specifications

Metal Content (Troy oz) 1.000
Fineness (% purity) 99.90
Minimum Gross Weight (g) 31.135
Monetary Denomination (AUD) 1.00
Maximum Diameter (mm) 40.600
Maximum Thickness (mm) 4.000

 

About the Wedge-Tailed Eagle

The Wedge-tailed Eagle is Australia’s largest bird of prey and one of the biggest eagles in the world. Found throughout mainland Australia, Tasmania and southern New Guinea, the Wedge-tailed Eagle has a wingspan of up to 2.7 metres, and displays a long, wedge-shaped tail and feathered legs.

Last year, 10% of the 50,000 mintage was sold by Australian dealer Ainslie Bullion but we’re currently unsure when or if they will be the dealer selling them this year. We understand that any Australian issued coin has to have 10% of its mintage sold in Australia, thus explaining why GovMint don’t get all the coins to themselves. This would indicate that the same would be the case this year, but GovMint do not list a mintage for the 2015 release, so how many an Australian dealer would get is unclear at present. We’ll try to find out.