Perth Mint October Silver Sales Top One Million Ounces

October Perth Mint silver sales of 1,084,213 ounces were up 5.1% from 1,031,858 ounces sold in September and up 188% from August sales of 376,467 ounces.

Silver sales at the Perth Mint in October were down 38.1% year over year from October 2015 sales of 1,751,898 ounces.

Perth Mint: Higher sales in September and October reflect ‘significant demand for our Australian Lunar Gold and Silver Coin Series II – 2017 Year of the Rooster.’

Silver Sales at the Perth Mint in October 2016.

The Perth Mint sold 1,084,213 ounces of silver in October 2016 down 38.1% from 1,751,898 ounces sold in October 2015. Silver sales in October 2016 were up 5.1% from September 2016 sales of 1,031,858 ounces.

October silver sales at the Perth Mint marked a return of sales over one million ounces a month for the second month in a row after a string of eight months in a row of one million ounces sold from September 2015 through April 2016. The Perth Mint also sold over one million ounces of silver in June 2016.

Silver sales at the Perth Mint fell dramatically in July and August (see chart below). The Perth Mint attributed the lower sales in July and August to the “trend for lower volumes reported by precious metal businesses worldwide.” Sales of American Silver Eagle coins also fell sharply in July and August.

Something to Crow About

Silver sales rebounded in September and October in part due to strong demand for the newly released 2017 Australian Silver Rooster. The Australian Silver Rooster coin is part of the Perth Mint’s popluar Lunar Series that features lunar calendar images each year.


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Perth Mint vs. U.S. Mint Silver Sales

Silver sales at the U.S. Mint in October rebounded sharply off their summer lows. The U.S. Mint sold 3,825,000 one ounce American Silver Eagles in October, up 128% from September.

The Perth Mint Silver Kangaroo.

perth mint silver kangaroo coins

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In September 2015, the Perth Mint reacted to the silver shortages at the U.S. and Canadian Mints by introducing a new silver bullion coin that would be not be of limited mintage, but rather would be minted in such quantities to meet demand – the Silver Australian Kangaroo one ounce coin.

The new coin was an immediate hit. In ten months (September 2015- June 2016) the Perth Mint sold 15,146,753 ounces of silver, up 173.4% from the period of September 2014 – June 2015 when 5,553,261 ounces of silver were sold.

Is the Australian Silver Kangaroo Sales Bounce Back?

The Perth Mint noted after lower sales in July: “Slower summer sales in North America where distributors reported they were well stocked with product impacted Australian gold and silver minted products during July.” In August the Perth Mint noted “A decline in sales of Australian precious metal minted products for physical delivery in August reflected the trend for lower volumes reported by precious metal businesses worldwide.”

July 2016 silver sales did not reflect a boost from the the Silver Australian Kangaroo as silver sales were lower 7% than last July.. August 2016 silver sales reflected a significant decline of 47% from August 2015 sales. While September silver sales at the Perth Mint increased, the mint noted that boost in sales was due in part to the release of the Australian Silver Rooster coins. October sales probably reflected continued sales of the silver rooster and kangaroo coins.

Perth Mint Silver Sales October 2015 – October 2016


The Perth Mint sold 1,084,213 ounces of silver in October 2016, down 38% from October 2015 sales of 1,751,898 ounces.

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Perth Mint sales data: The Perth Mint Blog

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Further Reading:

2015 Silver Supply and Demand

Perth Mint Sales (monthly archive)

Canadian Mint Sales (quarterly and annual archives)

US Mint Sales (monthly archive)

Is there a silver shortage?

Gold and Silver Sales at the U.S. Mint in 2014

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