Australian bullion sales in July rallied from a month earlier, the latest figures from The Perth Mint of Australia show. Of particular note, the Mint’s silver sales surged to the second highest monthly level on record.
The Perth Mint’s July bullion gains measured against a fourth straight month of declining precious metals with LBMA prices dropping 3.5% for gold and 1.7% for silver.
Perth Mint Gold Bullion Sales in July 2022
July sales of the Mint’s gold coins and gold bars reached 79,305 ounces, scoring gains of 21.5% from June and 12.2% from July 2021.
"Rebounding demand was especially noticeable out of North America, which compensated for the slowdown in the German market we noted in June," said General Manager Minted Products, Neil Vance.
Still, year-to-date gold sales at 585,399 ounces are 12.2% lower than the 667,030 ounces sold through the first seven months of last.
Perth Mint Silver Bullion Sales in July 2022
Perth Mint July sales of minted silver coins and silver bars tallied to 2,465,513, marking sharp increases of 61.8% from June and 89.3% from July 2021.
"We continued to experience extremely strong demand for physical silver," Vance added. "Even with a strong month for output, silver coins remain subject to allocation."
The Mint’s only better month for silver sales was September 2015 at 3,349,557 ounces. Now ranking third and fourth highest for the Mint are January 2022 at 2,387,165 ounces and May 2022 at 2,217,582 ounces.
Perth Mint silver sales for the year so far at 13,995,473 ounces are 24.8% higher than the 11,218,360 ounces sold during the leading seven months of last year.
Perth Mint Gold and Silver Sales by Month
Below is a monthly summary of Perth Mint bullion sales from July 2021 to July 2022. The figures show monthly ounces of gold and silver shipped as minted products by The Perth Mint to wholesale and retail customers worldwide. It excludes sales of cast bars and other Group activities including sales of allocated/unallocated precious metal for storage by the Depository.
| Perth Mint Bullion Sales (in troy ounces) | ||
|---|---|---|
| Silver | Gold | |
| July 2022 | 2,465,513 | 79,305 |
| June 2022 | 1,523,765 | 65,281 |
| May 2022 | 2,217,582 | 98,515 |
| April 2022 | 2,119,491 | 80,941 |
| March 2022 | 1,649,634 | 121,997 |
| February 2022 | 1,632,323 | 72,651 |
| January 2022 | 2,387,165 | 66,709 |
| December 2021 | 1,733,293 | 54,861 |
| November 2021 | 1,530,598 | 115,872 |
| October 2021 | 1,352,275 | 59,750 |
| September 2021 | 1,789,926 | 98,753 |
| August 2021 | 1,467,229 | 53,976 |
| July 2021 | 1,302,723 | 70,658 |
Wombat. Good choice, slow and easy, just like silver.
I can’t help but think that “bullion coins” is an oxymoron. Since they aren’t struck to numismatic standards wouldn’t it be more correct to designate them as “rounds”?
We can remember a time when we used silver coins in our change.
But at least not, gentlemen, in a galaxy far, far away.
By the way, that Winged Mercury Dime is one of the finest looking coins ever made. It’s right up there with the Walking Liberty Half Dollar.
I hadn’t even thought of that rationale, Major D, for changing the appellation “Bullion Coins” to “Bullion Rounds”, but if that in any way can help put a dent in the widespread passing off of Bullion as Uncirculated then all the more reason for it. Thanks for that brilliant idea!
As for your question regarding the difference between Rounds and Medals, the best I can offer is that all Medals are Rounds but not all Rounds are Medals. I know that’s not even close to being a sufficient differentiation, but I trust our site compadres can fill in the blanks.
Sir Kaiser and Major D,
Bullion comes in three basic forms: coins, bars, and “rounds”
Good Sir Rich aka The Fountain Of Numismatic Knowledge,
Thanks as always for the enlightenment; we know we can count on you.
Incidentally, is there a difference between a “bar” and an “ingot”?
Great question, Sir Kaiser! Short answer – These words do tend to have slightly separate meanings… “Bullion” is a general term commonly used when referring to precious metals (gold, silver, platinum) accounted in units of mass like troy ounces or grams. Bullion can come in many forms such as coinage, bars, ingots, rounds, and the like. “Ingot” is more of a description given to the shape of a piece of cast metal. It can refer to non-precious metals as well as bullion and usually has the shape of its original cast. “Bar” can actually be a specific technical term when… Read more »
I can’t thank you enough for taking all of that time and effort, Good Sir Rich, to so thoroughly, completely and comprehensively answer my question. I feel as though I’ve just taken a short course in the intricacies of ingot and bar specification, consistency, and identification. Wonderful!
Another US Mint development: the 2022-W One Ounce $25 Palladium American Eagle Reverse Proof was scheduled to be released this Thursday, August 25th, but was changed to TBD last week. It is now the only product on the 2022 Product Schedule without a release date for the year.
Good Sir Rich,
I have only this to say about that. Whatever are the folks at the US Mint up to now?
Major D,
Interesting, strange, disappointing or revealing; I’m not sure which adjective applies to the Mint facts you have provided us with. On the face of it, does it really make any sense that the Mint would put the kibosh on its production of the 2022-P American Liberty Silver Medal at over 25,165 short of that item’s Mintage Limit while simultaneously continuing to crank out ASE-S Silver Proofs until the cows come home and thereby create the sad reality of turning that, at 271,387 minted, into a fairly common coin?