Wednesday, October 31, 2012

Perth Mint 12 Coin 2oz Silver Lunar Set & 1oz Bullion Year of the Snake Sold Out.

The Perth Mint has a couple of recent blog posts which are worth a read.

The first from the Perth Mint bullion blog advising that the bullion series year of the snake 1oz coins (both Gold and Silver) have now sold out at Perth Mint:
Gold and silver 1oz coins from the Australian Lunar – 2013 Year of the Snake Coin Series are officially sold out at The Perth Mint.
The sell out of the full mintages of 300,000 pure silver 1oz coins and 30,000 pure gold 1oz coins was achieved in just two months, ranking this release as one of the fastest selling behind the phenomenally successful Year of Dragon coins in 2012. Blog
While the dragon 1oz bullion coins sold out in days, this is still a very respectable result. The lunar rabbit didn't sell out at the Perth Mint until the February after release (around 5-6 months after release).

The other interesting blog was on Perth Mint's collector coin blog which addressed the dissatisfaction shown by collectors given that Perth Mint are releasing more 2oz proof Lunar Series 2 coins in a new set which will backdate the coins to the start of the series (I covered this in a post which you can read, click here):
Some collectors expressed irritation at the forthcoming release of a 2oz Silver Proof Lunar 12-Coin Collection, which in their eyes doubled the mintage of coins previously only available in an annual Three-Coin Set.
Similar concerns were raised about next month’s 2012 Silver Proof High Relief Four-Coin Set. Writers said that the release increased the mintages of Kangaroo, Kookaburra, Koala and Dragon high reliefs already available in individual presentation packaging.
I’d like to thank everyone who contributed to the discussion and to let you know your comments were considered at a full meeting of the marketing department, as promised.
 Total vs. Certificate Mintages
In response, the maximum number of collectable coins we are permitted to strike is actually established in the Currency Determinations issued by Australian Treasury under the Australian Currency Act 1965. We always state a maximum mintage when we apply for approval of a collectable coin. 
In the case of the high relief Dragon, Treasury (as requested by the Mint) gave approval to strike up to 30,000 coins. Subsequently, we decided to release just 7,500 coins in individual presentation packaging – leaving a balance of 22,500 that could still legally be issued.
For obvious reasons of rarity and collectability, it is unlikely that we will ever do this, although we have decided to make an extra 1,000 available in the 2012 High Relief Year Set. In most people’s books, that’s a relatively minor increase in the overall quantity available in the market. Blog
I would recommend hitting the blog link and reading the above article (and all comments that follow) in it's entirety. It throws into question the entire Perth Mint numismatic mintage listing.

Given this revelation it's unlikely that I will be purchasing any new release numismatic coins from the Perth Mint, except those being added to my personal collection (rather than being purchased for investment/speculation purposes), which is really only the High Relief coins at the moment and even then I might wait and purchase them on the secondary market with the expectation their value will fall.

Perth Mint releases a new batch of coins tonight, for those interested check out the forthcoming releases page here (click) and once live you will find them in the new release section here (click). Apparently over November they will be providing free shipping with orders over $100 so keep an eye out for that deal.

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).

Cheers

 Buy bullion online - quickly, safely and at low prices

1 comments:

The 12 Year Lunar II Silver Collection is one of the most amazing products Perth Mint ever struck.

I recognized that, Silber-CORNER.de is the Initiator of this series, they ship it worldwide.

Find the product here:

http://www.silber-corner.de/de/Numismatik/Neuheiten

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