I actually held off while waiting to see if any more info came in - got the word they were old stock, so I bought them to add to the collection (only bought 2 so it's not a big issue) - not happy
Well let's call a spade a spade. Has someone lied about them being old stock? Or were they themselves lied to? I've not bought any and not going to but I'd expect better. If 3 bullion dealers have rolls of the things, its obvious they are re-minted rather than someone selling the odd box back to a dealer.
No, I won't go that far. There were 2 threads running on this, and the word came in that one of the dealers had said they were old stock reissued by PM after they had bought in a large quantity (couple of hundred as I understood it). I never took "rolls" to mean new rolls, maybe just re-wrapped for transit. At that stage there was only 1 dealer with them for sale. It later came through that there were indeed other dealers who had some and info also came through from 2 other dealers that nope, the first info was wrong, and they were indeed restrikes. So I put it down to a mini buying frenzy, and incorrect info being passed along at the start, which was later clarified but unfortunately a little too late for a few of us who had bought based on the wrong info. FWIW the dealer I bought from had the following info noted on their page which reinforced my belief at the time that these were old stock: Life happens
I emailed yesterday gainesvillecoins to ask about the condition of the coins but to response yet ... Using the price at which they are offered as a clue my best guess is they are the old coins in bad condition - perhaps some toning, some spots and so on. Most likely if these were new the price point would be around the 2012 kooks.
Hi Ladyluck, ill have to completely disagree with you here, if they were selling complete original rolls of 1992 Kooks Gainsville would piss take and charge over $800 for sure, im sure actual 92 kooks would have toning but this is what you get buying old kooks that plastic did not prevent toning, RE: 2012 Kooks - they have sold out so Gainsville and others have a premium over the standard issue price of perth mint bullion, the re-struck (beta mintage) of the 1992 pricing seems to be more in tune with the 2012 Koala (both of which may have just been minted) which are available for under $700 for tubes of 20 so id say the beta mint run 1992 kooks will start off at that and as the mintage sells out the price will slowly rise up to over $40 each.. may take a year or so. For O/S investors these are a great buy id suggest, but also a warning to dump your 93 to 2006 kooks now if you think you can sell them above $35 each get these now and then buy back the new years when they are re-released (the only way i can see myself from getting annoyed everytime they re-mint). 1for1
If the coins are restrike they could be parts of the old German order repurchase. Perth Mint is not making them according at least one Perth Mint employee who is aware of the 92 kooks sales.
I reckon if the Perth Mint wanted to remint coins logistics wise it would be much more easier to gather and dust off equipment from a closer date. Imagine the engineering challenges trying to work with 20 years old technology ...
We're obviously talking to different Perth Mint employees then. I was advised on Thursday when placing a wholesale order for these that these are freshly minted, and further to that, more are being struck. I guess the takeaway from this for the coin collecting community is to expect that any previous years of Kookaburras that did not reach their 300,000 mintage limits are potentially subject to continued minting until this limit is reached. The Perth Mint has done this before with both Kookaburras and Series II 1oz Lunar Mouse, so it's not a new direction. Ron Currie has explicitly said that previous year Kookaburras can be reminted - see the comments posted under http://www.perthmintbullion.com/blo..._On_Mintages_Of_Perth_Mint_Bullion_Coins.aspx on Nov 22, 2010. The mint is on record however stating that this would not occur for any Series I Lunar coins, so those mintages are set in stone. Good news is that there will be opportunities to complete 1oz collections of Kookaburras for those seeking to - assuming the same dies are used, there's also fresh coins in the market to get graded as well. While not ideal from a numismatic perspective when previous scarcity has been priced into current market prices, mintages of 300,000 for modern bullion coins are still pretty tiny compared to other coins like Pandas and ASEs. Mintage limits for 2011 Kookaburra onwards is now 500,000 for those unaware of the change.
I don't think it is fair but unfortunately they have the right to do that.It is clearly greed!If they are going to mint them to reach the mintage limit,the coins going to loose value and people may loose interest.What should we collect now? Paper money? At least we know for sure they going to produce more of them...
I'm collecting kooks but after that I might cancel my order...All that hunting for the older kooks was for nothing as they get re-minted eventually.....What a joke! PM should think about the collectors also not just their wallet!
I think this is no cloning @ VRS, no privy yet for you, since 2003 kooks I like most, but 1993 is closer to 1992 is this the kook to warn all the kooks? more nightmare for people who believe its a numismatic coins. yeah, may be I want my ROLLS back, PM. its a system roll back :O
I agree! In 92 silver price was $4 and the 92 specimen issued at $15, that was over 300% on spot. For this premium it clear the coins were not intended as bullion coin like today. This was the reason for the lower mintage as the premium was high in the 90s. The mintage numbers declared on the Pert Mint website makes no sense anymore after the German experiment. The only question is what is next, 1926 P sovereigns perhaps?
i don't know much about these coins but it would seem to me going back 20 years and minting that date is not right!! is the 92 a popular coin? i would be super upset if i had been sitting on coins for 20 years and then they just make more what is the point of buying them? just makes no sense to me other than money grabbing from the mint i sure will not start stacking these coins/
If a coin has stamped on it "1992" "1922" or "1022" you'd expect that it was made sometime during the 365.25 days that make up that year. The Perth Mint is putting a date on a coin 20 years prior to the date of manufacture. Obviously the mint is entitled to stamp a date on a coin that is different to the year it was made. But I for one want my coins (no matter where they come from) to be made in the year it has stamped on the coin. I like know a coin dated 1992 is 20 years old..... not in fact 1 week old.
Everyone can now be assured that their kooks, no matter which year stated on them or which year minted (since two can be totally different now).... are now worth much less than they were a couple of weeks ago. In fact, I would go as far as to say that all kooks for the time being will be tied close to spot.
Why aren't they using the same machines to produce more 2oz dragons instead of old kooks ??????? I can only assume they've got too many 1oz blanks
Well, I seem to remember that pretty much the entire run of 2012 dragons 1oz coins were ravenously gathered up in September of 2011. None of them were minted in 2012. We should boycott those too? The German privvies are the only one oz dragons minted in the right year. Perhaps purists will need to stick to those.
