Silver Kangaroo Coins – Sales Surge To Over 10 Million
GoldCore
GoldSeek.com
Tuesday, 2 August 2016
Silver kangaroo coins have seen sales surge to over 10 million coins which is double the expected demand for the year.
Introduced to the market less than 11 months ago in September 2015 at a launch attended by GoldCore, sales of the new release Perth Mint’s 2016 Australian Kangaroo 1 ounce silver bullion coin were anticipated to reach 5 million coins in their introductory first year. Yet sales of the silver coins have already surged to a whopping 10 million coins.
Commenting on the new silver coin’s worldwide success, the CEO of the Perth Mint, Richard Hayes said:
”Now that we can better gauge the popularity of the release, we predict sales in excess of 12 million this coming year.”
The Kangaroo coin is 0.9999 fine silver and it is only available in the 1 ounce size, unlike the Perth Mint’s other bullion coins which range in weights from 1/2 ounce to 10 kilograms. The 1 ounce weight was specifically selected for the new annual series because investors and silver stackers favour the size.
“These issues sell out of their limited mintages consistently each year,” the Mint said. “With this in mind, the Silver Kangaroo was issued in a 1 ounce weight only and to an unlimited mintage.”
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