Koos Jansen
BullionStar Blogs
Koos Jansen
Posted on 25 Mar 2015 by

The Largest Gold Mints Of The World

The most recent data available suggests the US Mint is currently the largest mint on the planet in terms of production output, having produced 4.54 tonnes of gold in Eagles and Buffalos year to date (January and February 2015).

The largest gold mints of the world are the Turkish State Mint, Chinese Mint, South African Mint, US Mint, Perth Mint (Australia), Royal Canadian Mint and Austrian Mint. Sales and production numbers of all these mints of 2014 have not been released, however, below is a chart displaying available data up until 2013.

All Mints 2002 - 2013

What is little known in the gold space is that the Turkish Mint is one of the biggest mints around. Because Turkish Ziynet coins are not widely sold outside of Turkey, the blogosphere is hardly taking note. However, from 2002 until 2008 the Turkish Mint was by far the largest coin producer on earth, on average minting 49 tonnes of gold a year over this period. The US Mint ranked second, having produced 17 tonnes on average over the same period.

Turkish Republic Coin
Turkish Republic Coin

Since Lehman Brothers fell in 2008 mostly Western mints saw their market share grow, led by the US Mint, who overtook the Turkish Mint in 2009 by minting 56 tonnes of gold.

Gold Eagle Coin 2014 low res
American Eagle Coin

From 2011 the Turks took back the lead at 59 tonnes, versus 35 tonnes at the US Mint. Extending first position in 2012 at 40 tonnes and in 2013 at a staggering 91 tonnes.

Though data from other mints is lagging, both the Turkish and US Mint publish production numbers every week. From these figures we know Turkish production has also been transcending that of the US in 2014 (by 19 tonnes) at 41 tonnes in total. However, year to date the US Mint has outpaced its Asian colleague by 0.95 tonnes at 4.54 tonnes.

Turkish vs US Mint 2002 - 2015 ytd

If we look at monthly data we see that after the price of gold made its famous nosedive in April 2103, the Turkish Mint stepped up its production output, before it shut down in August and September 2013, presumably as a result of supply issues. When supply was available again production continued in November and December at more than 10 tonnes a month.

Turkish vs US Mint monthly 2012 - 2015 ytd

Note, all coins produced by the Turkish Mint are 22 karat. For comparing them to other coins I calculated the fine content.

Koos Jansen
E-mail Koos Jansen on:

Copyright Information: BullionStar permits you to copy and publicize blog posts or quotes and charts from blog posts provided that a link to the blog post's URL or to https://www.bullionstar.com is included in your introduction of the blog post together with the name BullionStar. The link must be target="_blank" without rel="nofollow". All other rights are reserved. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time.