Wednesday, February 15, 2012

1/2oz, 2oz & 5oz Bullion Silver Lunar Dragons Return


Only a few days after release the Perth Mint suspended the production of 1/2oz, 2oz and 5oz Silver Lunar Dragon coins (as reported on Bullion Baron) due to the heavy demand and inability to maintain production of these coins as well as other products:
With immediate effect we are temporarily suspending orders for 1/2oz, 2oz and 5oz 2012 Year of the Dragon silver bullion coins. This decision has been taken in response to unprecedented levels of demand for these three sizes, which is stretching production capacity to the limit.
A temporary suspension in order-taking is, therefore, required to enable us to re-stock these product lines and focus on fulfilling all existing orders as quickly as possible. Perth Mint Blog
This break in production saw the price of the suspended coins rise considerably on eBay and other secondary markets as collectors looked to purchase an entire size typeset and others speculated that the Perth Mint may not even return to minting more.

Today the Perth Mint announced that production would resume, although it looks like the run will be limited:
We’re pleased to announce the forthcoming availability of a limited supply of Australian Lunar Series II 2012 Year of the Dragon silver bullion coins in 5oz, 2oz and 1/2oz sizes.

Production of these coins was suspended last year at the height of unprecedented demand for the Australian Lunar program, allowing us to focus production on the most popular 1oz releases. Perth Mint Blog
The text apparently read a little differently earlier:
The Perth Mint has today written to its distributors advising them that a limited stock of the Australian Lunar Series II 2012 Year of the Dragon Silver Bullion Series is available for release in 5oz, 2oz and 1/2oz sizes.

The distributor notification stated clearly "that only very limited quantities are currently available, therefore the stock will need to be allocated."

To be considered for an allocation, distributors are advised to place their indicative order on 1 March 2012. On receipt of all indicative orders, the Mint will confirm the quantity of coins available to each wholesale customer.
Limited allocations for a bullion coin is very unusual for the Perth Mint, especially given these coins technically have an unlimited mintage (they are produced with no max limit until the next design, in this case the 2013 Lunar Snake, is released). Given the shortened time that these coins will have been available the final mintage of each could end up relatively low. Keep an eye out for dealers who will be offering these coins in the near future.

Gold Pelican of Gold Stackers has already commented that he will provide these coins for a reasonable cost to Silver Stackers members if they receive an allocation, so that's a good incentive to sign up to Silver Stackers and keep an eye on the Gold Stackers site!

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Cheers

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