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
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