Thursday, June 10, 2010

Perth Reports Gold Coin Sellout - Australia Gold


The Perth Mint reported May 12 that its bullion sales are “on a golden run” with the sellout of the 30,000 mintage of its 1-ounce Year of the Tiger gold bullion coin.

The popular release is one of eight gold bullion coins released as part of the 2010 Australian Lunar Coin Series II. Offering buyers a choice of eight sizes from 1/20-ounce to a huge 10 kilos, each gold coin portrays a design of a tiger’s head.

Interest in the annual Australian Lunar Series II has been very strong since it was launched in 2008, according to the mint. Both the 2008 1-ounce Year of the Mouse and 2009 1-ounce Year of the Ox gold bullion coins also sold their full 30,000 mintages.

“That’s a lot of gold!” said Ron Currie, sales and marketing director. “Like other mints, we benefitted from the dramatic pick-up in gold bullion during the world financial crisis. Since then our objective has been to maintain sales at a much higher level than pre-WFC. We’ve had a close look at our production and international distribution strategy with the result that we’re now much better placed to satisfy demand.”

The Perth Mint recently announced that it had taken a 100 percent interest in Australia’s only gold refinery, it would be complementing its secure storage hub for bullion in the U.S. with a new facility in Europe and that it has plans for a new online distribution channel.