August Perth Mint silver sales of 376,467 ounces were down 46% from 693,447 ounces sold in July and down 69% from June sales of 1,220,817 ounces.
Silver sales at the Perth Mint in August were down 47% year over year from August 2015 sales of 707,656.
Perth Mint: lower sales in August ‘reflected the trend for lower volumes reported by precious metal businesses worldwide.’
August silver sales were the lowest since the silver Australian Kangaroo coin was introduced in September 2015.
Silver Sales at the Perth Mint in August 2016.
The Perth Mint sold 376,467 ounces of silver in August 2016 down 47% from 707,656 ounces sold in August 2015. Silver sales in August 2016 were down 46% from July 2016 sales of 693,447 ounces. August silver sales were the lowest since the Australian Silver Kangaroo coin was introduced in September 2015 and the lowest since May 2015.
Silver sales in July 2016 were also lower that July 2015 sales, a month that did not benefit from sales of the Australian Silver Kangaroo coins that had not yet been introduced.
Perth Mint vs. U.S. Mint Silver Sales
Silver sales at the U.S. Mint also fell sharply in August. The U.S. Mint sold1,280,000one ounce American Silver Eagles in August, down 74% from last August.
The Perth Mint Silver Kangaroo.
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 has 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 Over?
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 signficant decline of 47% from August 2015 sales.
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.” This month 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.”
Perth Mint Silver Sales August 2015 – August 2016
Sign Up For Smaulgld.com Updates Here!
Compare prices and shipping of Perth Mint Silver Kangaroo Coins for sale at these online bullion dealers:
Golden Eagle Coin
Money Metals Exchange
See Perth Mint July Gold Sales
If you have enjoyed this report, please consider sharing it, buying your precious metals through the Smaulgld affiliates linked to on this site* and subscribing (for free) to Smaulgld.com.