The Perth Mint has reported that wholesale demand for the 2013 Australian Kangaroo gold bullion coins has soared 35% above last year's comparable sales. Including retail demand, combined sales of all 2013 Gold Kangaroos are up 40% over last year.
Strong demand for the coin from both North America and Asia have contributed to the surge. In addition, based on strong physical demand for gold in China, Perth Mint reports securing major orders from their distributors in Hong Kong, Singapore and Taiwan.
The Perth Mint manufactures the Australian Government's official bullion coin program. Innovative annual design changes and the superior quality of their reverse proof finish has helped draw steady gains in market share. Based on the latest quarterly sales figures, the Perth Mint now has 13% of the worldwide gold bullion coin market, up from 7% in the prior comparable period.
The 2013 Australian Kangaroo was released on October 1, 2012 and is minted in five different sizess. All of the coins are minted of 99.99% pure gold. The newly created reverse design features Australia's famous kangaroo in a bush setting. The obverse of the coin features an effigy of Queen Elizabeth II along with the denomination in Australian dollars. The new design is featured on the 1 oz, 1/2 oz, 1/4 oz and 1/10 oz coins.
The Perth Mint also produces a one kilo version of the coin. The reverse of the one kilo coin features the classic red kangaroo designed by Dr. Stuart Devlin, jeweller and goldsmith to Queen Elizabeth II.
All of the Kangaroo gold coins have limited mintage except for the 1 kilo coin. Mintage limits for the other coins are 200,000 1/10 oz coins, 150,000 1/4 oz coins, 100,000 1/2 oz coins, and 350,000 1 oz coins.
This is very significant and shows that this recent and sudden demand for gold and silver is international in scope and not just confined to the USA. If memory serves, the kangaroo is usually one of the cheapest gold bullion coins (I am not sure if the maple beats it or not), not counting US gold commemoratives..
Good for them. Time (IMO) for some changes at the United States Mint. How about going from 22K to 24K for the gold American Eagle with an annual change for the reverse design. The concept of “family” is wonderful – but – not so much when depicted on something as small as a coin.
POP,
Keep in mind the gold buffalo was designed specifically for people who wanted a 24K option.