May Gold Sales Fall At Perth, U.S. Mint

Tuesday June 11, 2013 11:01 AM

(Kitco News) - Gold coin and bar sales have cooled at two of the world's largest mints, the Perth Mint and the U.S. Mint, as the buying seen during April's breakneck pace eases.

Silver sales are also softer, according to data listed on both mints' websites.

Business may be off versus a month ago, but total sales remain elevated versus a year ago.

Total gold ounces sold at the Perth Mint, which includes coins and bars, were 86,983.54 ounces in May, compared to 111,505.06 in April, the Perth Mint said on its website. April's sales were a record, they said.

Total silver ounces sold at the Perth Mint in May were 587,454.82 ounces, compared to 1.1 million ounces in April.

Even though May gold sales slipped from April's record, last month's sales are nearly triple pace set in May 2012, which were 30,387.88 ounces.

Silver sales last month remain above last year's pace, with 437,759.34 ounces sold in May 2012.

The Perth Mint also said Tuesday that production of the Australian silver bullion coins is back online after being suspended in April. The two-ounce Lunar Snake, 10-ounce Koala and 10-ounce Kookaburra silver bullion coins available are again for sale on the website, they added.

The U.S. Mint's May sales also softened versus April, and the pace of sales for early June is also slowing, the U.S. Mint's website showed.

In May, the U.S. Mint sold a total of 70,000 ounces in gold coins, down from the 209,500 ounces sold in April. So far for June, the Mint sold 22,000 ounces, mostly between one-ounce and one-tenth ounce coins. The Mint has not registered any sales of half-ounce and quarter-ounce coins for June.

For silver, May sales at the U.S. Mint were 3.46 million ounces, down from April's 4.09 million ounces. For June, sales are 1.46 million ounces.

Despite the slowdown in gold and silver coin sales, a robust first half means the U.S. Mint is likely to outpace last year's sales figures. So far this year, they sold 594,000 ounces of gold coins and 23.2 million ounces of silver coins.

For full-year 2012, the Mint sold a total of 753,000 ounces of gold coins and 33.7 million ounces of silver.

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Read the latest news in gold and precious metals markets at Kitco News.

By Debbie Carlson of Kitco News

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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