The Canadian Mint is smaller than the Peth Mint, but if you think investment in a coin press is a waist of money than explains this!! Silver - Canadian Maple Leaf - 2001 - 1 oz BU Mintage: 398,563 Silver - Canadian Maple Leaf - 2002 - 1 oz BU Mintage: 576,196 Silver - Canadian Maple Leaf - 2003 - 1 oz BU Mintage: 684,750 Silver - Canadian Maple Leaf - 2004 - 1 oz BU Mintage: 680,925 Silver - Canadian Maple Leaf - 2005 - 1 oz BU Mintage: 955,694 Silver - Canadian Maple Leaf - 2006 - 1 oz BU Mintage: 2,464,727 Silver - Canadian Maple Leaf - 2007 - 1 oz BU Mintage: 3,526,052 Silver - Canadian Maple Leaf - 2008 - 1 oz BU Mintage: 7,909,161 Silver - Canadian Maple Leaf - 2009 - 1 oz BU Mintage: 9,727,592 Silver - Canadian Maple Leaf - 2010 - 1 oz BU Mintage: 17,799,992
Buys today, will respond, but just want to cover this issue quickly: Where the price is has no effect on us. We never take exposure to the price. As to sourcing raw (wholesale) silver, we have never to-date had any problems with this - neither miners nor bullion banks have refused to supply at any price. If this was the case we would not be selling pool allocated silver as we wouldn't have bars to list on this report http://www.perthmint.com.au/pool_allocated_bar_listing.aspx
Absolutely bloody right Chum - I mean to think all these disgruntled customers expect that they should actually DESERVE something in terms of consistency of supply or logical explanation after supporting this rickety enterprise over the years, like little Wal-E's at that shiny WA nipple - sometimes over three generations... or more. The sheer temerity of 'em... Just who DO they think they are?!?!?!? SHEESH! VRS x
As the Perth mint representative said; the mint is responsibly by the WA government. As such its top priority is keeping the WA government happy. If you don't like it stop supporting them through buying products(when available). Buy elsewhere.
its not entitlement in my opinion but rather people just saying "lets call a spade a spade". that is me done on this issue.
One question I have - what is the variation level (or you could say margin for error) when buying 1000oz bars - is it pretty spot on or does it deviate + or - a few ounces? The 12-16kg bars are the example I have run into, was wondering if there were any example I dont know about.
~1000oz bars are industrial/bulk - they're not nicely machined 1000.0oz bars. They're 950 to 1150oz. They're genuinely cast - so they pour "about" 1000oz of silver into a mold. Smaller bars are either cast from measured shot (hence exact 1kg bars) or shaved to correct weight (the old Perth Mint kilo bars can be seen to have shaving marks around the edges). Re the Canadian Mint - my understanding is that silver maples are minted on the same presses that circulating Canadian currency is struck on, whereas the Perth Mint is a dedicated precious metals mint. Bit like comparing a boutique baker to Tip Top that supplies Coles & Woolworths. Ask yourself this - why isn't the Royal Australian Mint replicating the Royal Canadian Mint practice of striking bullion coins during non-peak production times for our regular 5c to $2 coins? We have a massive minting facility on the eastern seaboard that is only producing a single limited edition carded 1oz silver coin that's sold to collectors - not an iota of bullion coin production.
1000oz bars are industrial/bulk - they're not nicely machined 1000.0oz bars. They're 950 to 1150oz. They're genuinely cast - so they pour "about" 1000oz of silver into a mold. When I hear about 1000oz it totally amazes me however, there are even bigger http://silverporkchops.web44.net/page11.html
Just check the link that Bron provided regarding the 1000oz bars of the Perth Mint. Lots of them are around 930 ounces
The more I think about it, the more that I am surprised that the Perth Mint does not already offer higher buy back prices for its own products. Apart from the savings resulting from the ability to send such buy backs directly back into to the sales inventory, it also encourages the association of a higher value with Perth Mint silver throughout the precious metals marketplace. Maybe we need to translate this concept into corporate-speak language, which Bron can forward to Perth Mint executive management to help them understand: Bottom line profit enhancement will occur via increased margins if the product is de-commoditised and the brand is leveraged, while the cost of sales is right-sized going forward. Apologies to all plain speaking people out there, but in my experience if you don't translate common sense into corporate management gobbledegook, then the senior managers usually have no idea about what is being proposed. :| And Bron, if you get a staff suggestion monetary award, don't forget to give me a cut. ...
