I typically don't read the Perth Mint newsletters that come into my e-mail because thanks to this forum and other resources....I really am as informed as I need to be. But today I opened one of the PM emails and read through it and when I came across this statement, I realized that the Perth Mint is engaging in absurd claim-making: "Extremely rare: the 1oz gold bullion coin has a maximum mintage of just 30,000 worldwide" 30,000 is extremely rare??? Seriously Perth Mint....why do you have to do such a foolish thing? That desperate these days? .
I concur with you! From the viewpoint of a newbie (less than six months) numismatic coin collector, I would consider a modern coin worldwide mintage of less than 500 to be rare, and 100 or less to be very rare. Interestingly using the Universal Rarity Scale 30,000 would be only considered 16th (of 20 degrees with 20th position being the most common). Obviously a scale like this only makes sense when applied to more ancient coins, not modern day mintages of the 20th century and beyond: http://en.wikipedia.org/wiki/Coin_grading Universal Rarity Scale Rarity Number of known coins URS 0 None known URS 1 1, unique URS 2 2 URS 3 3 or 4 URS 4 5 to 8 URS 5 9 to 16 URS 6 17 to 32 URS 7 33 to 64 URS 8 65 to 125 URS 9 126 to 250 URS 10 251 to 500 URS 11 501 to 1,000 URS 12 1,001 to 2,000 URS 13 2,001 to 4,000 URS 14 4,001 to 8,000 URS 15 8,001 to 16,000 URS 16 16,001 to 32,000 URS 17 32,001 to 65,000 URS 18 65,001 to 125,000 URS 19 125,001 to 250,000 URS 20 250,001 to 500,000 ************************************** Scholten scale[edit] Dutch numismatist C. Scholten developed the following rarity scale in 1953 which he applied to the study of coins in the Dutch colonies [9] The Scholten scale includes the following degrees of rarity Scholten Rarity Scale Rarity Number of known coins C Common N Normal S Scarce R Rare RR Very Rare RRR Extremely Rare RRRR Of the utmost rarity ******************************* Sheldon rarity scale[edit] The Sheldon scale has been developed by William Herbert Sheldon in 1958 and consists of a progression of eight levels, in which the population of all coin varieties are to fall.[7] Each level is prefaced with the letter "R", indicating rarity. While being developed for the one cent coins which he studied, the scale has been used for defining the rarity of all coins. Sheldon Rarity Scale Rarity Description R1 Common, readily available R2 Less common - Available at most shows, but in limited quantity R3 Scarce - somewhat difficult to find, only a few likely at larger shows R4 Very scarce - may or may not find at larger shows/auctions R5 Rare - unlikely more than 5 at shows or auctions each year R6 Very rare - Almost never seen, only one may be offered for sale in a year's time R7 Prohibitively rare - one may be offered for sale once every few years R8 Unique, or nearly so
You must not read much promotion material then ... My favourite is when Downies describes a 2oz silver proof coin as 'massive' and 'huge' :lol:
Thanks for that info Luker. Trew, that is a hoot, "massive" for a 2 ounce coin. What in the world term would Downies then use to describe this coin? - http://www.perthmint.com.au/1-tonne-gold-coin.aspx .
Even better, this 1 ounce coin is also described as "massive" :/ :lol: http://www.downies.com/Perth-Mint/N...k-Lizard-1oz-Gold-Proof/4933/productview.aspx
Wow, talk about idiotic exaggeration....I think I will never buy from Downies again. I did once, fairly early into my PM awakening. .
