September Perth Mint silver sales of 1,031,858 ounces were up 174% from 376,461 ounces sold in August and up 49% from July sales of 693,447 ounces.
Silver sales at the Perth Mint in September were down 71% year over year from September 2015 sales of 3,530,000.
Perth Mint: Higher sales in September 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 September 2016.
The Perth Mint sold 1,031,858 ounces of silver in September 2016 down 71% from 3,530,000 ounces sold in September 2015. Silver sales in September 2016 were up 174% from August 2016 sales of 376,461 ounces.
September silver sales at the Perth Mint marked a return sales over one million ounces a month 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 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 September bounced off their August lows. The U.S. Mint sold 1,675,000 one ounce American Silver Eagles in September, down 56% from last September.
The Perth Mint Silver Kangaroo.
Buy Perth Mint Silver Kangaroo coins from JM Bullion
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. 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.
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 September 2015 – September 2016
The Perth Mint sold 1,031,858 ounces of silver in September 2016, down 71% from September 2015 sales of 3,530,000.
Click to see other Perth Mint Silver Coins from the Lunar Series
Compare prices and shipping of Perth Mint Silver Kangaroo Coins for sale at these online bullion dealers:
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