The Perth Mint has been inundated with demand for silver products. Photo: Tom Zaunmayr
22/01/2026 - 13:08
Unprecedented price hikes in the value of silver have left The Perth Mint struggling to meet consumer demand for some products.
The value of silver climbed 150 per cent in US dollar terms last year and has continued its upward trajectory in the first weeks of 2026.
While the price of gold recently breached $7,000 per ounce in local currency terms for the first time, the mint has introduced caps on some silver products this week.
An ounce of silver is currently trading at $138, up from $47/oz at the beginning of 2025, and the metal has become a focus for retail investors seeking a safe haven investment.
Around 80 per cent of Perth Mint’s products are silver.
In a statement to its customers, Perth Mint chief commercial officer and Gold Corporation treasurer Sawan Tanna said while there was no shortage of silver at the mint, demand for specific products had placed additional pressure on its manufacturing operations.
The mint is increasing stuff numbers in its coin production division to keep up with demand.
“We are currently increasing staffing resources in our coin production, order fulfilment and customer service areas to speed up these processes,” Mr Tanna said.
“Our production efforts are concentrated on core silver products including the one-ounce Kangaroo and Kookaburra coins and one kilogram cast bars.
“We are continuing production of all our silver products, however there may be longer delays on some items as we work through all logistics.”
Manufacture of some products, including one kilogram silver cast bars, is being paused while order limits have been imposed on some lines including one kilogram cast silver bars and coins.
Photos of long queues outside the Perth Mint premises in East Perth have attracted attention on social media.
Mr Tanna said some products had been limited to in-store sales. He called for understanding from customers amid unprecedented demand.
“In-store transactions at our East Perth premises are welcome, but please be aware of potentially long wait times for bullion purchases due to the influx of visitors and customers.
“We advise you to arrive early in the day.
“We acknowledge this situation is causing frustration for some of our customers and apologise for the inconvenience.
“The team here at The Perth Mint is focused on doing everything possible to meet the expectations of all our customers.”
The Perth Mint returned to profit last year, posting an $8.4 million post-tax return following a challenging few years in which it dealt with the high-profile fallout of a suite of compliance and governance shortcomings.
The precious metal boom is expected to bolster results further, with Gold Corporation targeting turnover around $50 billion for the current financial year.
The price of gold and silver typically rises at times of geopolitical volatility and uncertainty.
The price of silver has rocketed since the middle of 2025.
