Hey everyone!! I'm sure you are all aware that the PM is practically reminting MOST YEAR KOOKS!!! This is, for some of us who paid large premiums to complete a kook set, devastating. Now what is your opinion on this? Good or bad? I mean, even so, the mintage for each of those years is STILL capped at 300 000, so technically its still a low mintage item.. Do you think this is a good thing...? As it can only mean that if they get it over and done with now, remint to their limits... they cant flood the market with old kooks ever again in the future (as mintage will have been maxed out)? Do you think its likely to increase or decrease the kook value long term? Or will it be unaffected by this? Are you personally going to consider buying a stack of them for investment or not? All thoughts/speculation/rants welcome P.S. As an aside, if you WILL be buying some... what years are most people thinking of getting?
Also, do you think it would be wiser to get 2011 and 2012 kooks over these new ones, as they can no longer produce any more of these two years??
It's been the Mint's policy for a number of years, and is nothing new - overseas dealers have just been the ones in the past that have put in sufficiently large enough orders to get them made. Suddenly they have popped up on Australian distributors radars, and there's mass awareness.
Well,yes I was,I am,little upset but that is life...I think when all the re-minting is done and all the kooks are sold from all the dealers,everything comes back to normal.With 300k mintage kooks will be still a highly collectable item,if not here,overseas for sure Why are we crying over this re-minting issue when the pandas have some 6mil mintage limit and their premium still much higher than the kooks and selling crazy?.If you had the money to buy them kooks,do it. As everyone said and waiting for silver to go to the moon,if nothing else these kooks worth more when silver rises
Shouldn't be Australia the first one,not overseas? Come on,this is our mint and our coin...! or AU dealers did not have any interest in our own product?why? or no funds? or what? just shouting out loud in my room
Well is a kick in the teeth for those who bought them at inflated prices which were driven by the low mintage numbers. For everyone else it is a bonus. I bought one of each from Gold Stackers because they are one of the cheapest 1oz coins on the market. I only have a couple which were part of lot which I picked up a while back. I wasn't aware that they would go back and remint old coins, so that was a bit of a surprise, I figure that the date was there to tell you when the coin was made, not just part of the design. If I had an old collection of kooks I would be fuming though, unless I could fill a few gaps. Not sure about the mint's reasoning though. After all, people are prepared to pay high premiums because they know that they can recoup the expenditure on the secondry market. However if the mint sabotages that secondry market then people may not feel so comfortable about paying such high premiums in future. Add that to the deluge of dragons and increasing numbers of commemoratives and you have some fairly odd things going on.
It's funny ya know - a few days ago I woke up having slept on the question and decided to sell off all my kooks so I can change my stack focus. I started going through my spreadsheet to pick what to sell/keep etc. Then I come in here and discover that my plan to flood the market ( :lol: ) with prev years kooks has been gazumped by PM and the site sponsors!! My timing sux.
But your plan was sound! There might be a few that are not being reminted, everyone will be after them to fill the gaps in their new Kooks set.
Does this mean early kooks in square capsules are worth more than the new restrikes in the round capsules? Also, what year did they switch to the rounds ones? Anyone have a supply of square capsules? Knock restrikes out of the round ones and put them in the square ones, and voil, original strikes. ---the suspicious hilaire9
If i was buying kooks and had the choice of a brand new fresh minted gleaming kook or an older toned one in a square capsule i would take the new one every day. But thats just me. I think people may struggle to convince a buyer that their older kook deserves a premium because it may have been minted years ago
tried boiling eggs with silver coins it it to kills gems but after eating the food, forgot to take out the silver, eh how come so tarnished :lol:
I understand that they have the right to mint until the mintage number is met,and that as a yank I wont tell them what to do,but I would be very pissed if a coin I paid a premium for was being reminted to reach the numbers allowed.To me it just seems wrong.Take any other numis coin say the 2010 taku.It sells on e bay for about $75.They also didnt mint them in the numbers authorized.If they decided to mint more,how would you feel about it if you paid a high premium?IMHO its not good.
+1 ^^^^^^ Totally agree. Ok they have the legal right but very few who buy their product in the secondary market would have been aware that the absurdity of minting 1992 Kooks in 2012 would be allowable or contemplated by a Mint that values its reputation. The mint well knows about the collector's premium on older low mintage coins but they went ahead and treated the interest of the collectors and the after market with contempt. So now we know what they're going to do - how to react? I'm one mug enough to have bought older mintage Kooks at high premia. Initially I was going to ignore the new 'fake' issues, but then I turned a bit shady and pragmatic. The Perth Mint is still limited by its own mintage statements. The mint can't go beyond 300,000 as it remints the 'bogus' coins, therefore it is an opportunity of buying a smaller mintage coin at ordinary Perth Mint premiums. So when I'm buying Perth Mint silver, I'm buying these remints. I'm certainly not buying 2013 Kooks at 1,000,000 mintage when I can buy beautifully designed earlier ones with 300,000 mintage limits at a similar price. That's another consideration I've touched on - recent designs are nowhere near the class of the earlier ones imo. But generally I believe I will view mintage rarity from the Perth Mint with a lot more skepticism and I suspect others will too
