Perth Mint Silver Sales Fall 43% in July

July Perth Mint silver sales of 693,447 ounces were down 43% from June sales of 1,220,817 ounces.

Silver sales at the Perth Mint in July were down 7% year over year from July 2015.

Perth Mint: ‘distributors reported they were well stocked with product’ negatively impacting silver sales in July

July silver sales were the lowest since the silver Australian Kangaroo coin was introduced in September 2015.

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Silver Sales at the Perth Mint in July 2016.

The Perth Mint sold 693,447 ounces of silver in July 2016 down 7% from 746,700 ounces sold in July 2015. Silver sales in July 2016 were down 43% from June 2016 sales of 1,220,817 ounces. July’s silver sales were the lowest since the Australian Silver Kangaroo coin was introduced in September 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 July. The U.S. Mint sold 1,370,000 one ounce American Silver Eagles in July, down 75% from last July.

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 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.

July 2016 silver sales did not reflect a boost from the the Silver Australian Kangaroo as silver sales were lower 7% than last July.

The Perth Mint noted : “Slower summer sales in North America where distributors reported they were well stocked with product impacted Australian gold and silver minted products during July.”

Perth Mint Silver Sales July 2015 – July 2016

Perth mint silver sales July 2015 - july 2016

The Perth Mint sold over 693,447 ounces of silver in July 2016, down 43% from June.

Perth Mint silver sales from January 2014 to july 2016

Perth Mint sales of silver in July 2016 were down 7% from July 2015 and were the lowest since June 2015.

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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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