About Perth Mint Bullion Blog

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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Silver Bullion Bar Production – Update

WEBSITE INFORMATION

Two out of four silver bar production lines are now up and running under our Refinery expansion project.

As a result, we now have plentiful supplies of 1 kilo silver bars, as well as 100oz silver bars.

We are currently focussed on shipping these two bars sizes for clients who placed ‘back orders’ during May and June.

We are filling the oldest orders first (although some mixed size orders may still be held up).

If you have a back order for silver bars, you will receive an email advising the delivery details on the day we dispatch your order - with expected delivery the following day in capital cities in most cases.

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Is Gold Entering A Bear Market?

Topics [ gold market gold investment gold prices ]

WHAT OTHERS ARE THINKING

As gold falls to a five-week low, Mark Hulbert explains why he thinks the precious metal has not entered a bear-market.

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FAQ 4: Can My Wife/Partner/Father/Mother Sign For My Bullion If I’m Not In When It Is Delivered?

Topics [ buy gold online buy silver online ]

BULLION BARS AND COINS

Bullion purchased from The Perth Mint is generally delivered to individuals in Australia via AAE courier. Different rules apply on large orders over $30,000 when we use an armoured courier service.

Unless there is a pre-arranged alternative procedure in place, we will only ever deliver to the person whose name appears on the delivery note. We will email you the day before your shipment is scheduled to arrive, and at the time of delivery our courier will request valid photo id (eg passport, driving licence) before asking you to sign for the package.

Not all customers are in when the courier calls. If you choose, you may make written arrangements with the Mint for a nominated person (eg wife, partner, other family member) to accept the goods on your behalf. This is the only circumstance under which we will deliver to a person other than the customer.

If no one is home, our courier will leave a card with a phone number which you can use to arrange either a more suitable delivery time, or organise where to go in person to collect your Perth Mint bullion.

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Silver Bullion Bar Production On The Up

Topics [ buy silver bullion online silver bullion bars ]

WEBSITE INFORMATION

Production of silver bullion bars is being ramped up at The Perth Mint Refinery.

More production has been made possible by the near-completion of our expansion project.

I am pleased to announce that we now have plentiful supplies of 100oz silver bars available for sale on the bullion website.



Perth Mint 100oz silver bullion bar

In coming weeks and months we will be increasing production of other sizes, resulting in much improved continuity of supply.

In the meantime, we are focussed on making silver bullion bars for clients who placed ‘back orders’ during May and in the first half of June.

If you are currently awaiting delivery of product you ordered and paid for recently, thank you for your patience – I can assure you that your purchase is our top priority.

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Silver Coin Sales ‘Booming’ At Perth Mint As Investors Desert Paper Money

Topics [ buy gold online buy silver online depository silver bullion coins buy gold bullion online ]

IN THE NEWS

From Bloomberg:

Silver-coin sales from Australia’s Perth Mint, which was founded in 1899 and processes all of the country’s bullion, have surged to a record as buyers seek to protect their wealth with the metal known as poor man’s gold.

The mint sold 10.7 million 1-ounce silver coins since July 1 last year, according to Sales and Marketing Director Ron Currie. That’s 66 percent higher than the previous full fiscal year and about 10-fold more than five years earlier. Sales of 1- ounce gold coins will be close to a record, he said.

The soaring demand adds to signs investors are stepping up precious-metal purchases as Europe’s governments tackle a sovereign-debt crisis and central banks led by the U.S. Federal Reserve print cash to stimulate their economies, potentially devaluing paper currencies. Cash silver, the second-best performing commodity over the past year, hit a record in April.

“Silver’s still booming and it’s been going strongly for a year,” Currie said in interview yesterday from the mint in Western Australia’s capital. “A lot of the buying is by people new to the market,” with European and U.S. investors the most active international purchasers of the mint’s products, he said.

Immediate-delivery silver, which rallied to $49.79 an ounce on April 25, was at $36.3850 at 9:29 a.m. in Perth, 42.5 times cheaper than gold. Over the past year, silver has beaten all the commodities on the Standard & Poor’s GSCI index apart from top- ranked corn. Spot gold, rallying for an 11th straight year, has gained 25 percent.

Sovereign-Debt Crisis

Gold has become the preferred “coin of the realm” during Europe’s sovereign-debt crisis, Dennis Gartman, an economist and the editor of the Gartman Letter, said last month. Chief Investment Officer Yves Bonzon told reporters yesterday that Greece leaving the euro zone was “distinct possibility.”

The Perth Mint, producer of about 6 percent of the world’s gold bullion, introduced a web-based service last year enabling Australian customers to buy gold and silver. A new silver-coin press was commissioned in April and the operations are running at full capacity to keep up with demand, Currie said.

Silver sales have also surged in the world’s largest economy. Sales of American Eagle silver coins climbed 30 percent to 3.65 million in May, taking the total for the year so far to 18.9 million ounces, the mint’s website shows.

Demand for gold from the Perth Mint, which is controlled by the Western Australian government, has risen in the past 12 months, Currie said. Sales of 1-ounce gold coins in the year to June 30 will be close to matching the record of 415,115 ounces set two years ago. The mint processes all the gold mined in Australia as well as imports of scrap from overseas.

‘Mums and Dads’

“The gold price is high but it’s not moving a great deal, so it’s not bringing new people into the market,” Currie said. “The institutional buyers and the big banks have slowed, but the mums and dads are still buying,” he said.

Spot gold touched a record $1,577.57 on May 2 as the sovereign-debt crisis in Europe and record-low U.S. borrowing costs increased the appeal of gold as an alternative to currencies. Gold for immediate delivery traded at $1,546.85 an ounce at 10:01 a.m.

Bullion may climb 23 percent to average $1,500 an ounce this year, up from a March 1 forecast of an 8 percent gain, the Australian Bureau of Agricultural and Resource Economics and Sciences said in a report yesterday. In 2012, the metal may average $1,550, driven higher by global investment and jewelry demand in developing economies, government agency said.

Australia’s gold-mine production in the year to June 30, 2012, is forecast to increase 3 percent to 277 metric tons, Abares said in the report. Exports may climb 15 percent to 358 tons because of a gain in refined shipments sourced from Australian mines and overseas, it said.

Currie declined to give a total output figure for coins and bars, or the value of the bullion stored on behalf of buyers. Investors can opt to buy and store gold at the mint, or buy coins to hold themselves.

Reproduced on The Perth Mint Bullion Blog with permission from Bloomberg. Read the original story and Bloomberg copyright here.

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How To Sell Your Gold And Silver

Topics [ sell silver sell gold ]

WHAT OTHERS ARE THINKING

“Someday the precious metals cycle we’re in right now will end, and it will be time to sell your gold and silver bullion,” says Michael Maloney.

According to his new article, How To Sell Your Gold And Silver, there are four things to consider when that time arrives: Security, Privacy, Speed and Price.

Objectively prepared, the article provides plenty to think about when you’re considering the pros and cons of each sales method.

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