Wednesday, February 22, 2012

9 Coin Dragon set turns into 10 for Australian market

2012 Perth Mint 9 Coin Dragon Set (Chinese Exclusive)

Those who have been watching for Perth Mint Lunar Dragon releases might have spotted the above pictured set which was produced exclusively for the Chinese market (but made it's way globally through eBay and other distribution channels). It's a 9 coin set with each coin displaying a different coloured Dragon. There were 20,000 sets minted (180,000 total coins). Not long after they started being sold in China there were quite a few opportunists selling them for exorbitant prices to foreigners (including Australians) who were unable to source them from local distributors and retailers.

The price for the coin set reached a peak of over $1500 per set at one point, after first being available for around the $800-900 mark, but following the mini bubble (like many of the Perth Mint Dragon releases have experienced) the price has since fallen to around $1000 per set (and is likely set to fall further given the new release on the way detailed below).

It hasn't yet been officially announced but apparently Perth Mint will be releasing a coloured Dragon coin set for the Australian market in April. Rather than only 9 coins, the set will be produced with 10 coins including the 9 coloured variants as well as a standard Silver bullion 1oz coin. The mintage is said to be 2,500 sets (far smaller than the Chinese release) and will be sold for $990. 

Given that this set has not been made available for any previous Series 2 Lunar releases I really can't see it performing that well over the long term, but like many of the limited mintage Dragons released by the Perth Mint we could see prices spike shortly after release once sold out (flip at your own risk though!).

Another thing to be wary of is that multiple customers have complained of a poor quality finish or packaging which has resulted in paint chipped off the face of the coins as discussed here on Silver Stackers and here on Kitco Forums.

This April release will follow the March Dragon coin which is the High Relief Silver Proof Dragon as previously discussed here and here. 

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Hallo i got 1 set and its really beautifull (1 of the 20.000)
for everybody who can buy 1 set do it there absolutely stunning
the paint story i cant confirm cause i see absolutely nothing
no damaged areas or paint comes of so far !!! with only 2500 sets to come sounds like a good deal saluti

Thanks LAB, I have seen them in the flesh and they are a very nice looking set (the 9 coin set, I'm sure the 10 coin set will also be very nice). Glad to hear you avoided the issues with the paint, apparently only affecting a small number of sets. I guess the benefit for Aussies is the local version will make it easier to return any damaged sets to the mint for replacement and we get the extra coin as well.

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