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

Ossie said:
I think APMEX are misleading stating that these are a mintage of "198,356"
Where in fact they know this is untrue.
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Absolutley, but are we to blame APMEX or PM as i note there was misleading info on not just there site but also others including a Popular Australia Site.. To me it seems obvious PM has supplied product to wholesalers without giving them the full story (almost as if it didnt even matter?)

PS: Bullionmoney is looking really nice with your latest site upgrade.. very cool looking site and well functioning.

1for1
 
I don't think some of you senior guys get it!

I know some of you are rubbing shoulders with the staff at Perth but to support such a rediculous policy or sitting on the fence because you might upset the Apple Cart imo is un-acceptable.

For the new folk here realise this!

The reminting of the 1992 coin is Perth's little experiment to see what the market reaction is.

If it's positive, they'll mint more!

But

The real issue is for collectors and investors.

The flow on effect to other coins will affect YOU!

Perth have advised on their Blog site that the Series one Lunars could be re-minted.

So what?

Doing so causes a change in the market and it also causes uncertainty especially when Perth is so secretive about their Clandestine activities.

Sure, we know that Perth has stated they have the right to re-mint upto the limited mmintage.

Big Deal! Who implements such stupid policy!

The CEO is the Boss and the CEO can throw-out policy.

I say don't be complacent and don't support such rediculous policies that DO-NOT have to be implemented.

To do so, is supporting a bad policy that has a bad effect on investors and also strains the Australian and International markets.

Perth have got this policy wrong!

Best

H
 
Hi Holdfast

Most of us agree that this idea of reminting is detrimental to coin collectors and as such ultimately to the PM itself. There is not much we can do about this past remint but I agree expressing our concerns and informing overseas collectors that their newly purchased pristine 20 year old coins, are in fact only days old and falling in value. This will send the PM a clear and unified message. Don't mess with old coins and their mintage as the short term gains will be offset by longer term unintended consequences. There are many mints around this ever shrinking planet keen to attract new collectors. The PM is in a unique position having a great product and reputation. We all hope that employees of the PM read this blog and take heed and do not destroy this fine institution of the Perth Mint.

I am certainly sending this information to all coin collectors I know in N America, Asia and Australia who are not members of SS and may not know about these events. I urge SS members to do the same as public pressure on the PM will cause them to think twice before embarking on another reminting venture.
 
goldpelican said:
Holdfast said:
Perth have advised on their Blog site that the Series one Lunars could be re-minted.
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Reference? Series I has explicitly been stated as closed.
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Yes, I would also like a reference.

Even without a reference it raises a good point, will the Perth Mint find a loophole to re-mint S1 lunars? No one can be 100% sure they won't. S2 1oz lunars are firmly capped at 300'000 but they minted 500'000 1oz bullion dragons. Now the sneaky re-mint of a 20year old Kook.
I'm not prepared to pay a premium on any PM product now as we can not be certain they won't find a loop hole to re-mint a popular product.
That's the bigger issue here, once you start doing questionable things more questions are raised. There's no point trying to sugar coat the 1oz dragon privy, everyone knows its was an easy kill for the PM and diluted the value of the exsisting dragons. That have now proven they are purely driven by instant gratification and the bottom line is everything. They are not concerned with honor, reputation or morals. They're not stupid, they know they are diluting the value of exsisting collections and thats why they tried doing it under the raidar.

I strongly urge anyone looking to purchase Pert Mint products to be very very careful about the premiums you pay over spot.

Shame Shame Shame
 
Congrats Holdfast, some of your info wasn't completely accurate, but you are the first to address the real issue!

While the mint didn't put any timeframe on their minting of series 2, I do disagree with the re-minting of 20 year old coins & think this policy should be removed. Any threat of legal stouches or simply the associated bad publicity should be enough to steer them back on track.

I don't post here much anymore due to selling the vast majority of my bullion when spot was high last year, but much of the angst on the forum is due to silver spot wavering and doing very little.

If the silver spot price was flying north in leaps and bounds there would be much less concern over the minting of older coins, which current policy states they are entitled to do.

Everyone wants to make a quick buck, but complacency, boredom & annoyance creeps in when their investment is doing nothing or going backwards.

P.S. I will be a silver investor again, but the price has to drop further yet.
 
BB - I don't like holding stagnating investments.

Go read over my older posts if you need some direction :)
 
Welcome back silversale.
You copped a bit with your predictions last year but looks like you did the right thing selling higher. In fact im still holding some of your old silver!
What is your take on things these days?
 
Thanks Ned, thought I'd pop in briefly. :)

BB - please don't derail the thread, as you seem to love doing. Thanks in advance.
 
SilverSale said:
much of the angst on the forum is due to silver spot wavering and doing very little.

If the silver spot price was flying north in leaps and bounds there would be much less concern over the minting of older coins, which current policy states they are entitled to do.

Everyone wants to make a quick buck, but complacency, boredom & annoyance creeps in when their investment is doing nothing or going backwards.
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I couldn't agree less.
It's because I expected spot price to be unpredictable that I invested in kooks and lunars in the 1st place - as a hedge against falling spot prices. I did my homework on the performance of these coins, I weighed up my options and decided to go long. I did factor in a fall in spot but I didn't factor in the re-minting of 20year old coins or the cap on the 1oz bullion dragons being breached by 200'000.
 
SilverSale said:
bennybbc said:
I did my homework on the performance of these coins..
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Next time you'll have to do some homework on Perth Mint mintage policy :P
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My biggest mistake was assuming they would do the right thing.
Assumptions can be costly, remember the assumptions made about the clown fish? :D
 
Yeah, don't get me wrong.... I totally agree with you - I think there will be a bigger backlash when more people wake up.
 
I got owned on these coins.
Spot hasn't moved that much, and BB has already dropped their price from the $780 it was when I bought, down to $725 for the roll.

Think I might be fully out of silver shortly.
 
RetardedMonkey said:
I got owned on these coins.
Spot hasn't moved that much, and BB has already dropped their price from the $780 it was when I bought, down to $725 for the roll.

Think I might be fully out of silver shortly.
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Yeah,what's with that price drop? We just got fooled:)
 
SilverSale said:
Yeah, don't get me wrong.... I totally agree with you - I think there will be a bigger backlash when more people wake up.
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People were saying the same thing about the lion privy dragon ... didnt seem to stop the coins selling out though.
 
Bullion Baron said:
RetardedMonkey said:
I got owned on these coins.
Spot hasn't moved that much, and BB has already dropped their price from the $780 it was when I bought, down to $725 for the roll.
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+1 I would have been $200 better off if I'd waited for the competition to knock down prices (I bought a box shortly after the OP in this thread).

Rather than offering the coins for a competitive price straight away the dealer has instead decided to scrape some extra $ from the early birds before the competition heats up. Is it any wonder that company loyalty is dead :rolleyes:
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BB has been always good to me pricewise but I did not like this at all.They should have given a hint at least for us SS members for old time sake:) But I guess at the end it is all business and we cannot blame anyone but ourselves:)
 
Just giving them the benefit of the doubt, but perhaps they got undercut .. and want to stay competitive.

Otherwise they might be left holding the baby (coins) .. that is
 
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