Perth Mint gold and silver bullion sales rally in November

A CoinNews photo of a 2022 Australian Kookaburra 1oz silver bullion coin (reverse shown)

Sales of Australian bars rose in November for both gold and silver, figures from The Perth Mint of Australia show. There was particularly strong demand for the Mint’s minted gold products, which posted their highest sales since March.

Coin sales registered versus shared precious metals, with LBMA prices rising 2% for gold in November while falling 4.8% for silver.

Precious metals sales in November 2021

Perth Mint sold a total of 115,872 ounces of gold coins and gold bars in November, up 93.9% from October and 37.7% from November 2020.

“Two factors underpinned the rise in gold coin sales. A general surge in appetite for physical gold coincided with the release of The Perth Mint’s Australian Kangaroo series, dated 2022. The response from our global distribution network has been excellent as demand for 1 ounce, 1 / 2oz, 1 / 4oz and 1 / 10oz face values, “said Neil Vance, general manager of Minted Products

Year-to-date gold sales are 994,651 ounces, 41.7% higher than the 701,991 ounces sold in the same period last year.

The Perth Mint sold a total of 1,530,598 ounces of silver coins and silver bars in November, posting gains of 13.2% from October and 36.8% from November 2020.

“It was another great month for silver as our factory produced as much as possible to meet demand,” added Vance.

The Mint’s silver sales for the year to date are 17,358,388 ounces, 11.9% higher than the 15,510,723 ounces sold in the same period last year.

Perth Mint Gold and Silver Sales by Month

The following is a monthly summary of the Perth Mint’s bullion sales from November 2020 through November 2021. The figures show the monthly ounces of gold and silver supplied by The Perth Mint as minted products to wholesale and retail customers worldwide. This excludes sales of cast ingots and other group activities, including sales of allocated / unallocated precious metal for storage by the Custodian.

Perth Mint Bullion Sales (in troy ounces)
silver gold
November 2021 1,530,598 115,872
October 2021 1,352,275 59,750
September 2021 1,789,926 98,753
August 2021 1,467,229 53,976
July 2021 1,302,723 70,658
June 2021 1,823,029 72,910
May 2021 1,700,807 91,146
April 2021 1,798,210 101,379
March 2021 * 1,600,000 130,000
February 2021 1,830,707 124.104
January 2021 1,162,884 76.103
December 2020 941,767 76,806
November 2020 1,119,296 84.158

* Perth Mint released approximate sales data for March. Specifically, the Mint stated that it had delivered “more than 130,000 troy ounces of gold and almost 1.6 million troy ounces of silver” in March.

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