Perth Mint Gold / Silver Sales March Report
Perth Mint Gold / Silver Sales March Report by Rory for The Daily Coin
Another example of hyping something that doesn’t exist.
I ran across this latest example of something being made of nothing. Actually, it’s worse than that, it is simply stringing words together to paint a picture that never existed. This type of nonsense hurts all of us that publish works and do our best to present people with facts – you know, what the corporate media never, ever does. When someone produces a headline that is the exact opposite of the reality of the facts everyone loses.
The headline reads – Perth Mint Gold and Silver Bullion Sales Surge in March – which grabs the attention of any and all members of the gold and silver community. If it doesn’t grab our undivided attention we at least pause to find out what happened that we must’ve overlooked somewhere in our exploration.
Turns out, if you look at very defined parameters of month over month – which is almost worthless information – you do see an upswing in gold and silver acquisitions. However, once you look past this very small piece of the puzzle you see something quiet different, in fact, almost the polar opposite. Less than a 10% upswing year over year is anything but a “surge”. More like what should be expected. But then once you look at the first quarter totals you see a decline in year over year.
March sales of the Mint’s gold coins and gold bars reached 32,757 ounces, posting gains of 67.8% from February and 9.6% from March 2018.
First quarter gold sales at 83,470 ounces dropped 10.8% from the 93,530 ounces sold in the first three months of 2018.
Perth Mint sales of silver coins and silver bars reached 935,819 ounces last month, jumping 60.2% from February but dipping 4.1% from a year ago March.
The Mint’s first quarter silver sales at 2,348,983 ounces fell 22.6% from the 3,036,236 ounces sold during the same period in 2018. Source
This is what is so frustrating. I just want solid information to make appropriate decisions. These people use hype and nonsense at an attempt to sell one more ounce of precious metals. How about simply spelling out the facts and presenting a great argument to possessing precious metals as the all-time savings account? How about comparing adding a few ounces of silver and gold during the first quarter of 2019 vs the first quarter of 2018 and how a persons savings account changed either up or down? No, too simplistic, not sexy enough?
The chart below speaks for itself. It confirms the year over year for March 2018 / March 2019.
|Perth Mint Bullion Sales (in troy ounces)|