Bargain... much! Down to X20 "20 x 1992 1oz silver kookaburra coin"

[hussman]

I can understand the frustration. And if they produce say 100,000 of the 300,000 within the first year I can see when one would assume that they would produce no more. But at a cap of 300,000 coins means you should expect 300,000 coins to be produced, whether they are produced within the 12 months or 20 years later.

I do also have sympathy for the collectors, it would suck to know your coin is being re-produced later down the road in a better case and without toning. But at the end of the day they have the right to produce upto 300,000 1992 kooks. And 20 years later tehy are filling that quota. Still BS I reckon.

I guess it sort of the 'read the fine print' situtaion, like all those people who got flood insurance in QLD and then werent able to claim cause the fine print didn't define it as a flood.

 

[fishball]

I can understand the frustration. And if they produce say 100,000 of the 300,000 within the first year I can see when one would assume that they would produce no more. But at a cap of 300,000 coins means you should expect 300,000 coins to be produced, whether they are produced within the 12 months or 20 years later.

I do also have sympathy for the collectors, it would suck to know your coin is being re-produced later down the road in a better case and without toning. But at the end of the day they have the right to produce upto 300,000 1992 kooks. And 20 years later tehy are filling that quota. Still BS I reckon.

I guess it sort of the 'read the fine print' situtaion, like all those people who got flood insurance in QLD and then werent able to claim cause the fine print didn't define it as a flood.

Actually not true in majority of cases.

The Lunars from series 1 will not be minted again even though most did not reach their mintage limits. Other mints around the world adhere to similar standards. Pandas do not get minted again even though the limits were never reached.

So no, one would NOT assume they would produce to reach the cap.

Let's not forget these are coins from TWENTY years ago. If I bought a 20 year old coin I sure as hell do not expect them to come fresh out of the mint today.

You are right there was fine print saying they could mint the Kooks from ye olden days but that doesn't stop their reputation getting damaged.

 

[hussman]

And thats the point I tried to make fishball. They could do it in the fine print, even if it was such a small chance that would re-mint in the future. But it is hurting their reputation now.

 

[curry76]

But at the end of the day they have the right to produce upto 300,000 1992 kooks..

Maybe, maybe not as I don't really know anything about such things.


However, this is much more of a case of they SHOULD NOT have minted them, even if they do/did have a right to.

They are only crippling their own customer base.

 

[Matthew 26:14]

^^^ Correct Mr Fishball. If you have a coin dated 1992, you'd think it was minted in 1992 or pretty close to it like 1991 at the earliest or 1993 at the latest.....not 2012 at the latest !

 

[Big A.D.]

And thats the point I tried to make fishball. They could do it in the fine print, even if it was such a small chance that would re-mint in the future. But it is hurting their reputation now.

Any business that has to rely on the fine print to operate is a business worth avoiding.

 

[hussman]

And thats the point I tried to make fishball. They could do it in the fine print, even if it was such a small chance that would re-mint in the future. But it is hurting their reputation now.

Any business that has to rely on the fine print to operate is a business worth avoiding.

You Boycotting the Perth Mint Big A.D.?

 

[fishball]

But at the end of the day they have the right to produce upto 300,000 1992 kooks..

Maybe, maybe not as I don't really know anything about such things.


However, this is much more of a case of they SHOULD NOT have minted them, even if they do/did have a right to.

They are only crippling their own customer base.

You wish we were their customer base.

The Perth Mint has demonstrated repeatedly through the Privy Dragons and now the restrike of Kooks that their customer base is none other than the wholesale distributors.

They couldn't care any less about us, regardless of whatever marketing or corporatespeak they try to pull.

 

[goldpelican]

Official statement from the Perth Mint on this matter forwarded via email (Ron Currie is away):

Perth Mint Makes Past 1oz Silver Kookaburra Bullion Coins

The Perth Mint can confirm that it recently struck a quantity of 1992 and other past issues from the 1oz Australian Kookaburra Silver Bullion Coin Series.

The coins were manufactured on behalf of wholesale distribution clients in Europe and North America.

The additional strikes remain within the mintage limit of 300,000 coins per annual design (amended to 500,000 for 2011 and beyond).

Consistent with our policy for this Series which began in 1990, production of all 1oz Australian Kookaburra silver bullion coins remains open until such time as these quotas have been reached.

New data reflecting the amended sales and mintage figures will be posted on The Perth Mint website shortly.

As per my earlier post, Ron Currie has explicitly said that previous year Kookaburras can be reminted - see the comments posted under http://www.perthmintbullion.com/blo..._On_Mintages_Of_Perth_Mint_Bullion_Coins.aspx on Nov 22, 2010.

 

[hussman]

Thats my point, They say they can repeatedly re-strike until they reach the limit of 300,000. Why so hard for people to understand that. I personally would anticipate them to fill their quota's.

Its not a very customer friendly business model. But they arent there to make freinds either.

 

[RetardedMonkey]

The Perth Mint can confirm that it recently struck a quantity of 1992 and other past issues from the 1oz Australian Kookaburra Silver Bullion Coin Series.

And other past issues.

I want some new 90s, where they at?

 

[RetardedMonkey]

Thats my point, They say they can repeatedly re-strike until they reach the limit of 300,000. Why so hard for people to understand that. I personally would anticipate them to fill their quota's.

Its not a very customer friendly business model. But they arent there to make freinds either.

I think it's you not doing the understanding.

We DO understand that they CAN mint up to the 300k limit

We don't understand why they're being total cunts about it and leaving us in the dark and basically saying TURTLE YOU to anyone who has bought a Kook in the last 20 years for any numismatic reason at all.

 

[spannermonkey]

The Perth Mint can confirm that it recently struck a quantity of 1992 and other past issues from the 1oz Australian Kookaburra Silver Bullion Coin Series.

And other past issues.

I want some new 90s, where they at?

Good as new

http://www.ebay.com.au/itm/220997571059?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649

 

[RetardedMonkey]

Good as new

http://www.ebay.com.au/itm/220997571059?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649

I'll give you spot price + $5..... it's second hand bullion after all.

 

[hussman]

Good as new

http://www.ebay.com.au/itm/220997571059?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649

I'll give you spot price + $5..... it's second hand bullion after all.

BAHAHAHAA secondhand bullion.

 

[spannermonkey]

Good as new

http://www.ebay.com.au/itm/220997571059?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649

I'll give you spot price + $5..... it's second hand bullion after all.

But it's mine
And if you want it ,that's my price
OOOHH I know none of my stuff is going to sell at those prices
Just had to try
Especially
http://www.ebay.com.au/itm/220997550988?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1586.l2649
And 2 watchers ,probably dealers watching anyway

 

[Honestcoins]

Alright, I read through a few of those posts and after reading ron's comments I am actually fine with this. The reminting is limited to kookaburra 1oz coins and won't effect the lunar series ever. The minting is still capped at 300,000. Granted, I don't own a whole truck load of old kookaburras or I might feel differently. Clearly they aren't going to mint 2.8 million kookaburras tomorrow. They aren't suicidal. Everyone is acting like every year that isn't maxed is about to be flooded with new coins but that just isn't the case.

Also, didn't the old ones come in square capsules? Bam, a new way to argue for a higher premium!

 

[Big A.D.]

And thats the point I tried to make fishball. They could do it in the fine print, even if it was such a small chance that would re-mint in the future. But it is hurting their reputation now.

Any business that has to rely on the fine print to operate is a business worth avoiding.

You Boycotting the Perth Mint Big A.D.?

I'll be maintaining my collection, so I'll buy exactly one 1oz Kook each year until I get sick of them and the same with some of the small Lunar S2s.

The other 99% of my bullion spending will be on non-Perth Mint products.

 

[RetardedMonkey]

Alright, I read through a few of those posts and after reading ron's comments I am actually fine with this. The reminting is limited to kookaburra 1oz coins and won't effect the lunar series ever. The minting is still capped at 300,000. Granted, I don't own a whole truck load of old kookaburras or I might feel differently. Clearly they aren't going to mint 2.8 million kookaburras tomorrow. They aren't suicidal. Everyone is acting like every year that isn't maxed is about to be flooded with new coins but that just isn't the case.

Also, didn't the old ones come in square capsules? Bam, a new way to argue for a higher premium!

You act like you know they won't do this to other years, like they've JUST DONE to 1992.

 

[Honestcoins]

Apparently I fail at writing because I thought I just stated I am okay with them reminting all the kookaburra years as long as they don't flood the market all at once.