The Perth Mint saw gold sales jump 35% month-over-month to 25,103 ounces, with silver sales rising 16% to 482,451 ounces. While these figures still lag behind 2024 numbers, this unexpected sales surge is a sign investors are starting to notice the gold bull market.
While year to date gold and silver bullion sales data from the U.S. Mint reveals a sharp drop compared to 2024. While some may attribute this decline to gold’s record-high prices, the deeper concern lies in a growing disconnect among American investors regarding gold’s role as a store of value and wealth.
February’s sharp increase from the Perth Mint suggests that Asian investors are seeking the stability of precious metals, even at historically high prices.
Gold prices surged to $2,956.15 per ounce on February 24, marking an impressive 11.2% year-to-date gain, while silver advanced over 13% in the same period.
Gold’s role as a Tier 1 central bank reserve asset makes it a safe-haven for investors looking for a hedge against inflation amidst the economic instability from tariff measures, and currency devaluation.
Silver’s dual role as an investment and an industrial commodity has driven silver prices up 13% year-to-date from increased demand in solar panel production and electric vehicles.
U.S. Mint Gold and Silver Bullion Sales Plunge YoY
The decline in U.S. gold and silver bullion sales stands in stark contrast to global trends. Central banks have been aggressively accumulating gold in recent years, with China recently resuming monthly purchases. As global trade increasingly shifts away from the U.S. dollar, gold has re-emerged as the preferred anchor for countries seeking to diversify their reserves.
| Month | Gold Eagle Sales (oz) | Gold Buffalo Sales (oz) | Silver Eagle Sales (oz) |
|---|---|---|---|
| January | 39,000 | 32,000 | 3,563,000 |
| February | 11,000 | 11,000 | 928,000 |
In January of 2024, the U.S. Mint sold 87,500 1 oz Gold Eagles, and 14,500 in February. While last year, the Mint sold 45,500 and 15,000 Gold Buffalo coins during the same period.
The Mint operates on a “mint on demand” model based on confirmed sales from Authorized Purchasers. The APs are the primary distributors of U.S. Mint bullion products, which are then sold by retail bullion dealers and coin shops.
It has been widely reported that Costco’s offerings quickly sell out. However, it seems like they may have only a limited amount of inventory, as these and other gold coins are readily available from online dealers.
U.S. Mint Takes Deliveries From Suppliers and Authorized Purchasers
It’s been widely reported on X (formerly Twitter) that the U.S. Mint has received various deliveries of gold and silver bullion in 2025 from major refineries and bullion companies like Asahi Refining, A-Mark Precious Metals and StoneX worth over $187 million.
Cumulative U.S. Mint Delivery Totals January to March 8, 2025
- Gold: $60 million on January 21 from StoneX/INTL FCstone Ltd.
- Silver: $127.65 million across January, February, and early March from Asahi Refining, StoneX, Sunshine Minting, and A-Mark Precious Metals
