Perth Mint suspends production of 5oz and 10oz coins

Discussion in 'Silver Coins' started by goldpelican, Dec 19, 2010.

  1. goldpelican

    goldpelican Administrator Staff Member

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    http://www.perthmintbullion.com/blo...rth_Mint_Focuses_On_Most_Popular_Weights.aspx
     
  2. purgatori

    purgatori New Member

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    will that make good premuims on 10oz and 5oz later
     
  3. Austacker

    Austacker Active Member

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    Yeah whose got some Lunars Kooks in those weights will have a nice little bonus on their hands :)

    One thing I did notice is that they have kept the 1/2oz they want to have all the fractional with higher returns available. I suppose it is the most bang for your buck.
     
  4. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

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    No flies on you guys! ;)
    Half an hour after Ben posts this thread and my stocks of 10oz Kooks (2011) and Rabbits are sold out
     
  5. JulieW

    JulieW Well-Known Member Silver Stacker

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    lol - strong bear market then!! double lol
     
  6. projack

    projack Well-Known Member Silver Stacker

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    What I do not understand is why the Perth Mint has to struggle all year around to make that 300,000 1oz coins what is equal only 2-3 days ASE supply.
     
  7. Forge

    Forge New Member

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    Matter of having the presses for it.

    And they are producing nearly that number of kilo coins as well...
     
  8. projack

    projack Well-Known Member Silver Stacker

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    This interview with Bloomberg was less than 4 weeks ago.


    "We're coming off the highs triggered by the global credit crisis back to a more normal production status," said Currie. Since June, the mint has cut its employees to 250 from 300 and scrapped an overnight shift, Currie said.
    "We won't reach those highs again unless there's another global crisis," said Currie. "The last month has quietened down, with some customers selling back because the prices are so high." The mint had doubled capacity and increased staff numbers by about 20 percent in the 18 months to June.
     
  9. Matthew 26:14

    Matthew 26:14 New Member

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    Dont like it when the presses are going at full-tilt. Means there's going to be LOTS of volume of each of these 2011 coins and that will lower their numismatic value.
     
  10. Mud Gecko

    Mud Gecko Active Member Silver Stacker

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    Really disappointing I think. I personally really like the range of different sizes and they provide a good way of diversifying your coinage stack. They now have really boring typesets......

    R.I.P- 1/2kg, 10oz and 5oz coins :(
     
  11. rbaggio

    rbaggio Active Member Silver Stacker

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    This is not a criticsm, so don't take this the wrong way .... just trying to understand .....

    I don't get it when people complain about the (perceived lack of) numismatic value of what are essentially bullion coins.

    For example: Your comment above, and also this thread: http://forums.silverstackers.com/topic-3714-perth-mint-rapidly-loosing-popularity-in-eu.html

    Surely if you are into numismatics, you would get the proof versions of such coins?

    Unless there is some history I have missed? (maybe PM used to promote the 'low mintages' of their bullion coins?)
     
  12. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    ...sounds like they're runnin' outta metal :)
     
  13. Matthew 26:14

    Matthew 26:14 New Member

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    The numismatic value is whatever the free market puts on it. The 1oz 2000 Dragon bullion coin, 118,000 minted, now sell for $70+. That's the market saying they have collector's value. The 2002 Horse bullion coins also go for $70+. Goes to show people will pay a premium on anything. I dont make the rules, I just say what I see :)
     
  14. Matthew 26:14

    Matthew 26:14 New Member

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    I was collecting 1/2 kg series 2 lunars Rat, Ox, Tiger and now they stopped on me! Now I have these 3 coins and cant get the rest.

    As for the 5oz and 10oz, I think they will crank up the presses next year but just at the moment going hell-for-leather in the other sizes.

    I suspect the 1kg coins will have very high mintages in 2010, 2011.
     
  15. projack

    projack Well-Known Member Silver Stacker

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    2010 kooks were around 49,000
     
  16. Matthew 26:14

    Matthew 26:14 New Member

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    Got a line in the 2010 Lunar numbers ?
     
  17. Forge

    Forge New Member

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    My only thought on it is that they should have kept the 5 instead of the 2. It may be a matter of clearing more space on he bigger presses for kilo coins though.
     
  18. Matthew 26:14

    Matthew 26:14 New Member

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    The PM will keep producing 5 + 10 ounces, just first up other sizes will get priority on the press.
     
  19. projack

    projack Well-Known Member Silver Stacker

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    No 2010 series 2 lunar coins mintage out, but the mint will reserve the right to make more kilo and 1 oz coins until the end of the series anyway.
     
  20. Matthew 26:14

    Matthew 26:14 New Member

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    I thought the 1oz and 1kg lunars were capped mintages and all the other sizes uncapped? ie. can go and mint the other sizes en masse ?
     

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