Perth Mint’s Silver Kangaroo jumps to new heights

Sales of the Perth Mint‘s 2016 Silver Kangaroo bullion coin have reached 10 million pieces.

Since this latest addition to the Australian Bullion Coin Program was introduced to the market in September 2015, the release has had financiers, asset management specialists, bullion distributors and investors on the hop. Sales of the new issue have doubled the anticipated five million coins in its introductory year.

Traditionally, sales of Australia’s silver bullion issues have been particularly strong in North America and Germany, as both regions perceive the country as an exotic destination with some of the world’s most fascinating wildlife. 

“With this insight, we expected that the U.S. and Germany would generate the greatest demand,” said Perth Mint CEO Richard Hayes. “Now that we can better gauge the popularity of the release, we predict sales in excess of 12 million this coming year.”

Of the silver bullion coins available from the Mint, each of which showcase an animal icon, the Australian Kookaburra, Koala, and Australian Lunar series combine to offer investors wide choice, with coins ranging from a half-ounce to 10 kilograms. Yet it’s the popularity of the one-ounce coin in each series that’s most evident, as these issues sell out of their limited mintages consistently each year. With this in mind, the Silver Kangaroo was issued in a one-ounce weight and with an unlimited mintage.

“We made sure that the new Kangaroo satisfies investors’ key aims: to secure an asset which features an Australian icon, to secure silver at an affordable price, to add .9999 Fine silver to their portfolio, and to stack precious metals in convenient one ounce coins,” said Hayes.

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