Sales figures for 2011 proof and specimen collector coins to 31 December 2011 have been released. Mintage and current sales figures for collector coins issued between 1986 and 2011. More info - Perth Mint Collector Blog http://blog.perthmint.com.au/ Here's some nomenclature you may be interested in: 2011 The Australian Lunar Gold Proof Coins - Series Two The Australian Lunar Silver Proof Coins - Series Two The Australian Lunar Collector Coins - Series Two The Australian Koala Gold and Silver Collector Coins The Australian Coin Show Specials Here's the link to the actual PDF document that shows the figures: http://www.perthmint.com.au//documents/2011_Perth_Mint_Numismatic_Coin_Mintages.pdf H
If I was Perth Mint management, I would be having a stern word to my marketing team and asking why 90% of the products listed have not achieved anything near a full mintage run. I don't know if this is similar to past years or should it be telling them they make TOO MUCH VARIETY, people want something of value not just a painted coin. The markets have spoken, I cannot see how you would make money on making a die for a run of 20, 40, or even 100 coins. You can clearly see why their premiums are so high. They have built into them such a high cost of initial production, that they are now priced out of the market and selling overpriced Bullion that no one WANTS, listen to your customer Perth Mint. They don't want this shite. The dreaming series has been a flop by those numbers, and I know previous years are pretty similar. You pay a premium and then have to sell at a loss 99% of the time. Start by limiting your ever increasing releases. Increase bullion runs if needed. Here's an idea instead of a Proof Sovereign every year what about bringing back Bullion Sovereigns ? I would almost guarantee you would out sell every stupid release gold coin and then some, your dies would be cheaper to make because you have a standard re-make for production. You will just have to change the year ! Instead of making a series of something which hardly anyone wants. You can be a leader and start re-minting the Greatest Australian coins every made again. Perth Mint you have done it before. Be a leader not a follower. Rant over
Good rant Austacker. The sales figures are probably just an update, the coins are in many cases still available, for example the Gold Dreaming series is available for purchase. http://www.perthmint.com.au/catalog...ing-dingo-1-2oz-1-10oz-1-25oz-gold-coins.aspx The Silver Dreaming series is available. http://www.perthmint.com.au/catalogue/da-the-dreaming-series-silver.aspx Perhaps Perth will update the figures in the months / years to come but as you rightly say Austacker some of the sales figures aren't too good. :| H
So I did a rough tally and got 116 variations from that list, I had a late night so may not be 100% accurate Lets crunch some numbers. What is the average cost to make a Die ? I don't know exactly and I am sure that production processes have improved, but I would think that it would be a least $20K at a minimum per die ? If someone could give a better idea would be good. 116 x $20,000 = $2,32M Lets take the Discovery Dreaming 1/2oz Platinum series. There are 5 coins in that with a production of 1,000 ea. 5 x $20,000 = $100,000 They have sold roughly 100 @ $1,795 = $179,500 in sales. So far. The cost of Pt roughly would be around the $1700 oz = $850 1/2oz ~ So the cost is now (100 x $850) + $100,000 = $185,000 in cost. So far. We haven't even added in the cost of the package, holder, COA (lol) etc... These individually would only be a few cents to a couple of dollars each, BUT what about all the man hours in the design, the marketing printed material etc... all of this comes at a cost. The actual cost be at least another $50K of combined man hours and costs. Giving us a new cost of approx = $235,000 - Actual sales $179,000 = - $56,000 Again see why the premiums are so high, it is not only the cost, but also the sales risk that they have to build into the price that goes to market. At these results, and they are not unique just to this year. They have built such a huge buffer in to have a contingency for these slower movers. Yes I realise that unsold coins will eventually just be melted down and re-sold as another issue in time. That is not the real issue is it. I believe that all of the leading Numistmatic price guides, McDonald and Rennicks will be emitting all future PM coins from their guides. Hmm what does that tell you ? The Rare Coin Company in Perth has stopped releasing their Monthly magazine showing new releases from PM. They are dropping stock and will be a carrying a much, much reduced inventory if any at all. More buy in as required ? Look back at how many Coin shops have gone broke, if we were to look over their inventory v cash flow I reckon I can guess what the down fall was. Hmm too many PM coins on the shelf that were not selling, maybe that is a bit harsh but I certainly believe it would have played a large factor in it. I am all for releasing interesting and unique coins. What has happened is an industry that has been created has got totally out of control and now the customers are telling PM and others, that they do not want to go down this path. The real question is, is anyone actually listening
I'm listening to you Austacker, you hit the nail on the head. Too many coins, too often! I know from my contacts that dealers aren't very happy. Even had one ask me if I'd like to buy their stock at cost because stock isn't moving. The price is too expensive for many numismatic coins. I've cancelled orders for much of 2012 coins; won't be buying the type set or any of Perth's 1/2oz boxed coloured snakes they send out to AP. The only modern numi set I'll be keeping is a couple of 3 coin sets and I'll probably break these down to sell the coins individually. Personally, I find that it's very bad of Perth to box coins, provide a COA and then flood the market with exactly the same coin but they call the coin coloured bullion. (But that's another story) H
