Monday, August 6, 2012

Perth Mint 2013 Lunar Snake Coin Distribution

Perth Mint 2013 Lunar Snake Design
Ron Currie from Perth Mint put up the following notice on the blog last Friday:
Because of the expected popularity of the 2013 Australian Lunar – Year of the Snake 1oz gold and silver bullion coins, these releases will be allocated to official Perth Mint distributors based on their previous sales of Lunar coins.

Our dealer allocations have not yet been finalised, so it is worrying that rumours have reached us that some secondary dealers (not direct Perth Mint clients) are prepared to take “pre-orders” for these products, which are scheduled for release in September.

This situation arose prior to the launch of our Year of the Dragon coins and resulted in some extremely disappointed retail customers.

Please be extremely wary of any offer to “pre-order” 1oz bullion Snakes which are still in the process of being allocated to authorised Perth Mint dealers. Blog
A couple of things to note...

You will notice that allocations for the Lunar release to distributors will be based on previous sales, so we can expect like last year that a majority of the coins will be shipped overseas (not sold in Australia). This likely means we will see another very quick local sellout and you will need to secure your coins immediately after release if you want a piece of the action for a reasonable price.

Also the blog post issues a warning for buyers who have placed any "pre-orders" for the 2013 Lunar Snakes... as the allocations have not yet been confirmed you would best to be wary of any dealers offering pre-orders given that there is no guarantee they will be able to fill every order. Many buyers who went through dealer pre-orders last year for the Perth Mint 2012 bullion Dragon coins found their order size reduced (I was a customer affected by this), so tread carefully...

If interested in a run down on last years Dragon mania where bullion prices were bid up to some ridiculous levels ($165+ for a single 1oz bullion coin) checkout some of the older articles linked in this post on Bullion Baron: LINK.

Get ready for a similar rush this time around. Get an account registered with Perth Mint well in advance of release day (you will need an account on the Perth Mint Bullion website located here). Get in early and be careful not to pay too much... there were some serious bubble prices being paid within days of the sell out for the Dragon and many of these buyers ended up badly burned. Although the low mintage 1oz bullion Gold and Silver Lunar coins are worth buying, it is only worth paying bullion prices for them. Don't get caught up in the hype.

Good luck!

For previous coverage you may want to checkout these other recent posts on the upcoming 2013 Lunar Snake releases:

If Lunar series coins interest you I would highly recommend signing up for free email updates with posts likely to be spasmodic as information on the 2013 Lunar Snake coins comes to hand...[CLICK HERE] To subscribe to blog updates via email (free).


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