The Perth Mint of Australia recently announced new monthly sales figures for gold and silver sold as coins and minted products. For October 2012, sales levels for both metals declined after the spikes seen in the previous month when popular series of gold and silver bullion coins made their debut.
For the month of October, sales of silver coins and minted products reached 457,700.76 troy ounces. This represents a decline of 63.43% from the prior month. In September, the Perth Mint had released the latest design in the popular Australian Lunar series featuring the Year of the Snake, which drove sales to the highest level since the start of reporting. With no new release during October, sales fell back to the more typical range.
In November, silver sales may see a boost from the release of the Australian Koala silver bullion coins. These coins had a release date of November 5, 2012 and are available in unlimited mintages in 1/2 oz, 1 oz, 10 oz, and 1 kilo sizes.
2012 Perth Mint Bullion Sales in Troy Ounces
The sales of gold coins and minted products reached 54,242.76 troy ounces for October. This was down by 33.11% from the prior month, representing a less significant decline compared to silver sales.
In September, the Year of the Snake Gold Coins had served to boost sales. Gold sales remained elevated in October likely due to the release of the Australian Kangaroo gold bullion coins on October 1, 2012. These coins are available in limited mintages for the 1/10 oz, 1/4 oz, 1/2 oz, and 1 oz coins and with an unlimited mintage for the 1 kilo size.