(Kitco News) – The Perth Mint saw sales of its gold products more than doubled in February from the previous month, while silver sales rose nearly 12%, the refiner announced on Thursday.
The Mint is the world’s leading producer of newly mined gold, and is owned and operated by the government of Western Australia,
The Perth Mint’s sales of gold coins and minted bars surged 131% to 67,249 ounces last month, a massive increase from the 29,103 ounces reported in January. On a year-on-year basis, sales were up about 168% from February 2025.
Meanwhile, sales of silver products rose to 1.92 million ounces in February, up from 1.72 million ounces in January. On a year-on-year basis, silver sales were up a staggering 299%.
“Gold performed strongly during the month, driven primarily by excellent sales of gold kangaroo coins in Australia, Germany and across Asian markets,” said Neil Vance, Perth Mint’s general manager of minted products. “The combination of global uncertainty and price volatility is clearly creating opportunities for investors, reinforcing demand for trusted, high-quality bullion products.”
The story was very different in January, as gold sales were down during the period even as sales of silver products surged.
“The Perth Mint’s sales of silver bars and coins were up 188% month-on-month in January, to 1.7 moz of silver, while gold sales fell by 19% to 29 koz, consistent with price-sensitive retail buyers jumping into silver as it outperformed gold during the price rally,” Heraeus analysts wrote. “This was the largest monthly sales figure since May 2023. The mint’s silver sales have been declining since 2022 when 23.2 moz was sold, with 2025 sales totalling 7.3 moz.”
And the Perth Mint’s annual figures for bullion sales in 2025, released in early January, showed the Australian refiner saw a 16% increase in gold bullion sales, selling 454,514 ounces of the yellow metal last year.
Neil Vance, Perth Mint’s General Manager of Minted Products, said in the report that bullion demand was driven by ongoing factors including expectations of interest rate cuts in early 2026, uncertainty in the U.S. economy, and ongoing global instability.
“In gold, minted bars performed strongly, reinforcing their ongoing appeal as a core investment choice during periods of market volatility,” he said.
The Perth Mint saw a decline in silver demand in 2025, selling 8.22 million ounces, down 5% from the previous year.
