Discussion in 'Silver' started by Ron Currie, Nov 7, 2012.
So ...... 2004 is the key date for 1oz Kooks.
Depends if they have stopped reminting the 1oz as well as the others, would be good to know :/
The top 5 lowest mintage of the 1 0z Kookaburra's as follows:
As far as the least number of coins and restrikes (4,723) but The Perth Mint Distributors purchased a large quantity of 1996 coins.
1996 - 1 oz Kooks have the highest sales, an additional 23,463 Re-strikes.
"That's comparing figures to the old Perth Mintage pdf document dated 13 April 2012" - new document is dated 06 Dec 2012
Seems like this 'mintage policy' issue is fading into the past, sure it's great news ie. Rons statement. But it's still very opaque, whats needed here is clarity Ron. So my advice to you is to stop messing around, you are like a kid with a plaster, you know it has to come off, you know it is going to hurt but you insist on lifting it a little at a time and prolonging the pain. Just rip it off and tell everyone the truth, there has been ample time to inform all parties involved. Silence now is not the way to go. Tell us what the final mintage is going to be, so we can get on with putting a true value to perth mint coins. Until this is done no one can have any faith in you guys.
It's still vague because any Kooks minted 2013 are unlimited mintages.
Meaning that, the 2013 1 kilo, 10oz coins can still be minted in the future until Ron changes the mintage policy.
The 1 oz - 2013 Kooks may not sell to the mintage limit (Maximum mintage) of 1,000,000 coins, if they get sales of say 850,000 coins, Perth can legally re-strike up to the limited mintage of a Million coins.
What needs to be done, is an amendment to the new mintage policy that is appicable to "all" bullion coins apart from the Kilo lunars that we know can be restruck until the end of the series or when Perth declare the coins. Infact, Perth should also declare the kilo coins each year as well but Perth has reinforced the mintage policy for the series 2 Kilo coins from day dot... so.....
A simple mintage policy would be:
The Bullion coins are released each year for 12 months and at the end of the year those coins are declared. (No more minted ever)
Ok, that's happening with the Koala's and Lunars but the mintage wording is confusing people.
The Koala's are "Mint To Order"
The Lunars are "unlimited" except for the 1 oz but the rest are declared at the end of the year.
The 1 oz lunars could infact be re-struck up to their mintage limit if they didn't sell out. Obviously there's no guarantee the future series 2 - 1oz coins will sell-out.
The Kooks are "un-limited" except for the 1oz which is limited.
The mintage policy is confusing and the pdf mintage documents do not reflect the policy, example the series 2 lunars.
The sales column in the document should read declared so that people know that no more lunar, 1/2, 2, 5, 10 and half kilo coins will not be re-minted / re-struck at some later stage.
Written policy and written web pages should provide continuity, not confusion.
Actually that is not what we have said.
1 ounce kookaburras will cease production at the end of the year. in your example where we have sold 850,000 of the 1 million mintage we would declare the 850,000 and not make any more. This is consistent with the new policy where we do not make past years.
The kilo and 10 ounce are unlimited, meaning we will make and sell till the end of the year on the coin and at then declare them and close the mintage.
We do not make a 2 ounce Kookaburra coin at present and we are unlikely to do so in the future.
I hope this clears it up. for you.
Yep, I agree. How hard can it be to make a clear statement about mintage, you see the problem 'NOW' is lack of trust. I bought coins checking mintage (rarity) and paid a premium in order to purchase these coins. Why should we bother to buy the books etc to check these mintages when the perth mint can just go ahead and mint like some kind of drunken fool in order to increase their bottom line. I never thought that they could just remint when ever they liked, what about morals. They know their clients, they know what makes a collector collect, they knew they were committing an immoral act, they knew and their 'bean counters' weighed up the pros qand cons and said screw 'em lets mint, mint mint. So they move the goalposts not me, I played by the rules, they just decided to change them. So now in order to regain my trust, I want a clear, etched in stone , iron clad mintage policy that they can NEVER mess with again, a legal binding statement that gives us the rights that we thought we had.
Thanks Ron for pointing out my mistake and for the clarification.
Crystal clear now.
Looks like the policy is pretty clear to me and in alignment with what seems to me to be common sense principles. Thanks to Ron for both responding and posting.
Yep, thanks Ron, you seem like a decent sort, trying to clean up other people's mess is never a easy task. But it will take a long time for this bad taste to leave my mouth, if ever. Perth Mint is still off my list, still stacking though, ASE and the likes, you can't hold it, you don't own it dude.
Just to refresh your memories, this was about 2oz Kookaburras. I was wondering if they got reminted as one seller was offering hundreds of every year.
I now had the opportunity to take a look at the ones that were sold by this seller. They were all in round capsules and came in rolls, just like they are selling them nowadays. They also looked very shiny, no toning or anything, they looked brand new, all years 1992-2009. If I remember correctly, the capsules of five(?) of the years appeared to be slightly different from the other 13. Not as clear as the others.
Now, is this an indication that this was a reminted batch or not? The mintage numbers seem to indicate they were not reminted.
I don't think the original Kooks were sold in round capsules and rolls, but my memory doesn't go back that far. Anyone remembers?
How it will now work:
PM mints 2013 Kooks and sees in October that they have reached 500,000. PM mints 500,000 to make it to 1,000,000 and declares. PM sells 600,000 by December and holds 400,00 in stock to be released at a later date. Minting costs for the last couple of hundred thousand are extremely low and the coins could always be melted into bars later if needed, or even held as part of the unallocated.
How is this different from re-minting to the stipulated cap minting?
I highly doubt the PM would hold 400,000 in stock, that is a lot of silver to have tied up. They will just remint later.
No, that would go against the "rules".
im having trouble understanding this, are the 1oz kookaburras and koalas from previous years going to be minted again? or are the mintage numbers for the 1oz one the perth mint site the only number that will ever be made?
is it possible for past 1oz koalas to be minted again?
ill be laying off perth coins both bullion and the numismatics for a while untill i can figure this out. if anyone could help..
Ron is going to make an announcement 13 Jan 2013!
New - Kookaburra Mintage Policy Update - just posted by Ron Currie ...
Just a note on the remaining Kookaburra stocks at the mint - the last wholesale update I saw, several years had already sold out, and the remaining years all had under 100 rolls or so left in stock per year (some much less). Once they're gone, they're gone. The mint is very close to selling out of what remaining restrikes there are.
As I think I mentioned earlier in the thread - the reminting only accounts for something like 5% to 11% of the overall mintages for each year - so the current ease of availability of these coins is in my opinion a short term phenomenon. Don't underestimate the likelihood of an overseas distributor swooping in and buying the lot up in one go - it happened with 1/2oz Dragons. Tens of thousands available to distributors one day, none the next.
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