Time for a look at how well the United States Mint and the Perth Mint did in 2018 at shifting their gold and silver bullion products. Overall, the report card would read ‘not great – but could have been worse’. The Perth Mint has shown greater resiliance in the face of economic buffeting, particularly with gold – ironically, the US Mint’s weak-spot. A few conclusions;
1. The American Silver Eagle (ASE) continues its fall in numbers. Not even breaking a third of the 2015 figure, 2018 has to be seen as a disappointment and there’s little sign of an upturn.
2. The ASE’s gold sibling had a nightmare. It failed to match the ultra-low bar set by 2017’s disappointing performance and couldn’t even break 25% of 2016’s numbers. Again, the trend is heading downwards.
3. Perth Mint gold sales have actually risen, no doubt buoyed by the Asian market. An unexpected bright spot. Silver sales have also proven able to weather the storm, although less successfully.
Will 2019 bring relief? The fantasy magic bubble that glowed around cryptocurrency has certainly worn off. It’s fair to say that the rampant speculation that permeated that market in 2017 has cooled considerably, so will that money move back into precious metals? Palladium has certainly seen some spectacular price growth, so maybe some of that will rub off on silver and gold.
Don’t forget to keep an eye on our permanent bullion sales graphs. We will be updating these every month for your use, although we’re going to wind back these articles to a quaterly schedule. We’re not a site focused on the economics of precious metal numismatics, preferring to concentrate on new issues and the designs themselves, but it does lend some perspective.