Silver Sales Soar in June/July, Fall Back in August, Rise In September
The Perth Mint sold 1,167,963 ounces of silver in July 2017 down 3.9% from 1,215,071 ounces of silver sold in June 2017 and up 68.4% from 693,477 ounces sold in July 2017. August sales of silver at the Perth Mint were down from July’s sales but up year over year from August 2016 sales. September sales were up 78% from August sales.
From September 2015 through April 2016 the Perth Mint sold over a million ounces of silver for eight months in a row. The Perth Mint also sold over one million ounces of silver in June, September and October 2016. January 2017 silver sales over one million marked the first time since September and October 2016 that the Perth Mint sold over one million ounces in a month.
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.
The Australian Silver Kangaroo
Perth Mint Silver Sales January 2014 – September 2017
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