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This blog discusses The Perth Mint's bullion coins and bars, providing information about our latest designs, mintages, sales volumes and sell outs. On a broader front, we share relevant research and opinions for anyone interested in gold and silver bullion investing.

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Why digital gold? Why now?

The rise of cryptocurrency in recent years has led to a surge of interest in gold-backed digital currencies. Some may wonder why risk-averse gold investors would be interested in entering a market known for volatile cryptos. Conversely, the idea of digital gold has increasingly held appeal to a technologically savvy demographic looking for an alternative way to store wealth in the modern world.

A history of digital gold

In 1995, not long after the internet went mainstream, E-Gold emerged as the first digital currency backed entirely by gold. At its peak, the currency was backed by 3.8 metric tons of gold, worth more than US 85 million, and traded by millions of people around the world. 

However E-Gold’s status as a controversial alternative currency system made it an attractive target for criminal activity and, after years of investigation into illegal transactions, it was shut down in 2009.

Subsequent attempts to make a digital gold currency led to several look-alikes, but this was before the age of bitcoin and blockchain technology. As the prosecutor at E-Gold’s trial put it, “[the entire digital currency world] is a bit of a wild west right now”. Regulators fought to define this new kind of company which operated in the shadows between bank and money transmitter. 

With the establishment of blockchain technology as an increasingly accepted secure accounting method, and as bitcoin becomes a household name, a new era of gold-backed cryptocurrency has emerged. These technological advances, buoyed by the recent surge in the gold price, has led to the next gold rush – this time in the digital world.

Gold-backed tokens
 
The basic concept for digital gold on the blockchain is certainly compelling. A token is issued that represents a value of gold (for example, 1 ounce of gold equals 1 token). The ounce of gold is stored by a trusted custodian and can be traded with other token holders. The nature of blockchain ensures these transactions are secure and anonymous, recorded on a decentralised network of computers spread across the world. 

Convenience and anonymity aren’t the only benefits. At a minimum, the price of the coin will always equal the current gold rate – but, like all currencies, there is potential for increase. If the gold-backed token gains popularity, the price of the token can surpass the value of gold. If the token doesn’t take off, it will still retain its value of the ounce of gold.


The rise of the stablecoin

With the vast majority of new cryptocurrencies entering the market proving to be inflated, volatile or unreliable, the ‘stablecoin frenzy’ began in 2018. 

An answer to the ‘wild price swings’ seen in unbacked cryptocurrencies such as bitcoin and ether, stablecoins aim to achieve stability and decrease the volatility that is frequently associated with cryptocurrency markets. Stablecoins such as gold-pegged tokens are considered to be among the least volatile and most trusted investments on the blockchain. 

Despite this, gold-backed tokens remain vulnerable to the inherent risks of the digital world – many of which are the same risks early adopters of digital gold such as E-Gold had to contend with. While the blockchain accounts for the tokens, physical stored gold is another matter. With a plethora of gold-backed tokens now on the market, it is important to consider who actually owns the gold and how it is stored. 

Trusted by institutional and individual private investors as an organisation dedicated to taking Australian gold to the world, The Perth Mint is the custodian of gold-backed token Perth Mint Gold Token (PMGT). Recently issued by leading digitalisation company InfiniGold, PMGT is the first gold token on a public blockchain backed by government guaranteed gold. It allows users to conveniently acquire and have entitlement over physical gold stored by The Perth Mint in a trusted and cost-effective way. 

PMGT offers superior transparency, risk diversification and hedging against market volatility as a representation of physical gold that, backed by a reputable and trusted custodian, brings a new level of credibility to the cryptomarket.

Learn more about PMGT 



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Perth Mint releases 2020 Australian Kangaroo gold bullion coins featuring new design

Topics [ Australian Kangaroo gold bullion coins ]

The Australian Kangaroo is a world-renowned bullion coin series trusted by investors for more than three decades.

A key reason the coins are so highly regarded is because The Perth Mint operates under an explicit guarantee from the Government of Western Australia which covers fully all our offerings and obligations.

As a result, investors are assured of the purity and precise weight of every coin issued.

New design for 2020 gold coins

Unique among the world’s leading gold bullion coin programs, the Australian Kangaroo Gold Bullion Coin Series offers new designs annually. The 2020 releases portray two kangaroos among native grass trees on the highly popular 1oz denomination and limited edition 1/2oz, 1/4oz and 1/10oz versions.

The latter coins, often referred to as ‘fractionals’, enable investors to acquire affordable amounts of gold and, when required, sell convenient portions of their overall physical gold holdings.

At the opposite end of the spectrum, the series includes the well-known ‘Red Kangaroo’ 1 kilo coin, a highly cost-effective offering for larger buyers.

Struck from 99.99% pure gold and issued as Australian legal tender, the 2020 Series is available from today through The Perth Mint and our international network of authorised bullion distributors.

Buyers wishing to purchase direct from the Mint are invited to attend our Bullion Trading Room in East Perth or telephone the Bullion Call Centre on 1300 201 112 or +61 8 9421 7218.

Registered clients (or those wishing to register to buy online) should visit the Mint’s bullion sales site.



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Monthly Sales – October 2019

Topics [ Monthly sales figures ]

Total ounces of gold and silver sold by The Perth Mint in October 2019 as coins and minted bars:

  - Gold (Au): 32,469 oz

  - Silver (Ag): 1,394,615 oz


NB This chart shows total 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.



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Monthly Sales – September 2019

Topics [ bullion coins sales and mintage figures bullion bars ]

Total ounces of gold and silver sold by The Perth Mint in September 2019 as coins and minted bars:

  - Gold (Au): 46,837 oz

  - Silver (Ag): 1,350,038 oz

NB This chart shows total 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.




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‘Double Kook’ marks the 30th anniversary of the Australian Kookaburra Silver Bullion Coin

Topics [ buy silver bullion online Australian Kookaburra buy silver coins ]

Celebrating a landmark achievement, the 2020 Australian Kookaburra Coin Series features a special 30th anniversary coin design affectionately dubbed the ‘double kook’.

The reverse image portrays original artistry of the kingfisher in a pose familiar to many Australians. 

Perched on a corrugated rooftop at dawn, the kookaburra is depicted in the midst of its morning chorus as it greets the day with its infamous cackling laugh. Also included is the inscription is ‘AUSTRALIAN KOOKABURRA 30TH ANNIVERSARY’.

The obverse features a representation of Stuart Devlin’s depiction of a kookaburra on a tree stump surrounded by native foliage, as it appeared on the 1990 Australian Kookaburra Silver Bullion Coin. The anniversary dates ‘1990-2020’ are also included together with a miniature representation of Jody Clark’s effigy of the Queen. 

A long-standing favourite among silver coin investors worldwide, the Australian Kookaburra’s enduring popularity has seen it sell close to 9 million coins across its 30-year life. 

The graphic below celebrates 30 years of the Australian Kookaburra with a look back at all the memorable designs to have graced this iconic series. 


30 years of the Australian Kookaburra silver bullion coin

Click here to purchase 2020 Australian Kookaburra 1 kilo, 10oz and 1oz releases.


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The Perth Mint announces early release of iconic Australian Kangaroo silver bullion coin

Topics [ Australian Kangaroo buy silver bullion online buy silver coins ]

We are pleased to announce that the 2020 silver kangaroo bullion coin is available for sale from The Perth Mint today, Friday 20 September. 

While the Australian Kangaroo gold bullion coin has been released annually since 1989, it was not introduced in silver until 2015. In the four years since, The Perth Mint has sold more than 26 million 1oz silver bullion coins worldwide. 

In keeping with tradition, this year’s silver issue depicts a representation of Stuart Devlin’s red kangaroo, a much-admired portrayal created for the Mint by the Queen’s former goldsmith in 1989.
 

The Perth Mint's 2020 Australian Kangaroo 1oz Silver Bullion Coin is now available.

Originally slated for release on 4 November 2019, the 2020 Australian Kangaroo 1oz Silver Bullion Coin has been introduced early due to strong demand for remaining stocks of the 2019 release which are now almost exhausted.

The 2020 Australian Kangaroo gold and platinum bullion range will be available for purchase from the previously-announced release date.


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