The Perth Mint’s March bullion sales are the third best

A CoinNews photo showing both sides of the 2022 Australian Kookaburra 1oz silver bullion coin

March sales of Australian minted gold bars firmed in silver products and ranked the third-best record in gold products, latest figures from the Perth Mint of Australia show.

The mint’s bullion rose as measured by healthier precious metals, with LBMA prices rising 1.7% for gold and 1.9% for silver in March. First-quarter gains were steeper, with precious metals prices rising 6.7% for gold and 7.5% for silver.

Perth Mint bullion sales for March and first quarter of 2022

March sales of the Mint’s gold coins and bars totaled 121,997 ounces, up 67.9% from February, while down 6.7% from March 2021, when sales hit an all-time monthly high. Aside from March 2021, when sales hit 130,730 ounces, the only better month for the Mint was February 2021 with 124,104 ounces.

“Amid the Russia-Ukraine crisis and associated gold price volatility, it came as no surprise that interest in our physical gold products continued to surge – particularly from Europe.” said General Manager Minted Products, Neil Vance.

“With good inventories of Australian 1oz Kangaroo gold coins and a growing inventory of fragments, we were able to significantly increase the number of ounces shipped compared to February.”

The Mint’s first quarter gold sales of 261,357 ounces are down 21% from the 330,937 ounces sold in the first quarter of 2021.

The Perth Mint sold a total of 1,649,634 minted silver coins and bars in March, up 1.1% from February and about 3.1% from March last year.

The Mint’s first quarterly silver sales of 5,669,122 ounces are 23.4% higher than the 4,593,591 ounces sold in the first three months of 2021.

Perth Mint gold and silver sales by month

Below is a monthly summary of The Perth Mint’s bullion sales from March 2021 to March 2022. The figures show the monthly ounces of gold and silver shipped by The Perth Mint as minted products to wholesale and retail customers worldwide. Excludes the sale of cast ingots and other Group activities, including the sale of allocated/unallocated bullion for storage by the depot.

Perth Mint Bullion Sales (in troy ounces)
Silver gold
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
Sep 2021 1,789,926 98,753
Aug 2021 1,467,229 53,976
July 2021 1,302,723 70,658
June 2021 1,823,029 72,910
May 2021 1,700,807 91.146
April 2021 1,798,210 101,379
March 2021* 1,600,000 130,730

*The Perth Mint released approximate sales dates for March 2021. Specifically, the Mint said it shipped “more than 130,000 troy ounces of gold and nearly 1.6 million troy ounces of silver” in March. Later data put gold sales in March 2021 at 130,730 ounces.

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