Perth Mint Reveals Shift in Metal Preferences: Gold Coin Demand Declines While Silver Explodes

The situation of precious metals in the global market underwent a drastic change in January, as revealed by Perth Mint in February. The data indicate a completely reversed dynamic: while gold coin sales declined, silver reached demand levels not seen in nearly three years, signaling a profound reconfiguration of investor preferences.

Decline in Gold Coin Sales Contrasts with Explosive Silver Boom

The volume of minted gold coins and bars dropped significantly from 35,885 ounces in December to 29,103 ounces in January, a 19% month-over-month decrease. Despite this reduction, performance remains solid on an annual basis, with approximately 57% growth compared to the same period last year.

In dramatic contrast, silver sales showed explosive growth in the same period. Volumes jumped from 597,873 ounces in December to 1.72 million ounces in January, a 188% expansion in just one month. The annual growth is even more impressive, reaching 315% compared to January of the previous year. This extraordinary performance positions January 2026 as one of the strongest periods for silver products in Perth Mint’s recent history.

Silver Reaches Three-Year Peak: The Resurgence of the White Metal

The exceptional demand for silver reflects a clear shift in global investment strategies. Neil Vance, General Manager of Minted Products at Perth Mint, highlighted the massive interest spanning multiple continents, including markets in the United States, Europe, Asia, and Australia. This phenomenon is not localized — it is a genuinely global trend signaling strategic capital reallocation.

Global Demand Drives Expansion of the Precious Metals Market

Perth Mint, as a state entity controlled by the Western Australian government, processes approximately 75% of all newly mined Australian gold, solidifying its position as one of the leading global refiners. This infrastructure places the institution at the forefront of observing macro trends in the precious metals markets.

The documented reversal — decline in gold coins versus spectacular growth in silver — may indicate a reassessment of investment preferences amid the current economic scenario. While some gold coins lose relative appeal, silver emerges as the preferred asset, attracting capital from multiple regions and suggesting renewed confidence in this metal for diversification and wealth protection.