From the perth bullion website: "The mint sold 10.7 million 1-ounce silver coins since July 1 last year, according to Sales and Marketing Director Ron Currie. That's 66 percent higher than the previous full fiscal year and about 10-fold more than five years earlier. Sales of 1- ounce gold coins will be close to a record, he said." Not sure how we get 10.7 million 1 oz silver coins unless 9.1 million 1oz koalas have been sold? 10.7 million (less 0.6m for 2 years of lunars) (less 1m for 2 years Kooks) and you get 9.1 million 1 oz coins remaining. As the Perth Mint's only other coin is 1oz koalas which have unlimited mintage, this mean 9.1 million koalas ?!
Curious to see if these figures are correct, maybe Bron could shed some light...? Even so, they didn't make enough so that everyone could get at least one I wonder how many $1 CN coins were released this last year...and they're only worth about 8cents in 'value' :/ Think I'll still stick with silver... 'Love to the Koalas'...
i dunno, it FEELS like there's at least a couple of million random overpriced 1oz proof coins that have been churned out in the last 2 years..
Even considering proofs, specialty coins, etc. there seems to be a lot of 1oz coins still accounted for. Does the PM mint for other countries? I know the Somalia silver elephant coins I own were minted by the Bavarian State Mint in Hamburg, Germany. I also wonder if the end of unallocated storage had some impact on this last fiscal year. It will be interesting to read Bron's reply. Edit: Private Minting probably accounts for the remaining coins: http://www.perthmint.com.au/minting_services.aspx
You should also consider that the PM minted previous Kookaburra years for markets like Germany ... ... but a growth rate of 66 % compared to last year, 10.7 million 1oz coins in 2011, bloody hell, that's a lot for just ONE mint, adding that total to the output of the other "big players" in the market ... well, although not mainstream I would say that there are probably more silver investors in the western hemisphere than we ever thought there would be !!! Remember those were just the figures for the 1oz coins of one mint, what about the other oz - sizes ??? That leads me also to the question how much silver must be out there actually ?!?!
From Ron Currie himself "There's been a misinterpretation we sold 10.7 million ounces of silver in the form of bullion and numismatic coins within the timeframe mentioned. The correct information was provided in the interview - so apologies for any confusion as a result of the article. Regards Ron Currie" FY10/11 2.7 million coins, bars and medallions sold (Kookaburra full mintage 300,000) Coin, bar and medallion sales added value to 10.13 tonnes of gold, 218.5 tonnes of silver and 9.86kg of platinum
