kg coins

[mmissinglink]

we all knew that could happen...the only thing is PM just "cleared" their name about the kooks and not even a month later here we go with the kg lunars...what is next?...I might have to start collect some bostwanian coins if they exist

I bet the mouse and ox three coin silver proof sets and proof kilos are next! They have probably minted them already.
Somehow I still believe they won't do it (just like I thought they won't remint the bullion kilos anytime soon), but my confidence in this is rapidly going down the drain.

My understanding is that the kilo proofs can NOT be reminted after the close of the year of that particular coin....only bullion kilos can be reminted past the close of the year for that coin (and until end of the series).

Am I correct in this understanding?

 

[Pirocco]

Several hundred Series I 1oz gold tigers entered the market a few months ago under these circumstances - an investor sold a few hundred oz of their gold. Just happened to all be 1oz lunar tigers from 1998

It's a plausible scenario. In the end, some people all of sudden decide to swap an entire bank savings account to precious metal, and then it's expectable that they own alot from a certain year. I'm an example myself, in silver then, I'm not rich enough for hundreds oz gold lol, but I have hundreds kilo's coins dated 2011; including 25 Lunar kilo/10kilo rabbits. So when I in some future decide to sell that lot, some people may think the mint produced more too. That guy surely did better with his gold than a bank account would have been. Even with not selling at a top ($1900 in 2011).

 

[stackeract]

Well, Ron Currie (or someone else from the mint, don't remember) said here that they will do a stock take early this year of the newer numismatic coins (after 200x) and then close off the mintages. He also said that they won't remint any of them until then. At least that is what I remember, maybe someone can point to that statement.

But do I really believe this? I'm not so sure anymore...

 

[dragafem]

we all knew that could happen...the only thing is PM just "cleared" their name about the kooks and not even a month later here we go with the kg lunars...what is next?...I might have to start collect some bostwanian coins if they exist

I bet the mouse and ox three coin silver proof sets and proof kilos are next! They have probably minted them already.
Somehow I still believe they won't do it (just like I thought they won't remint the bullion kilos anytime soon), but my confidence in this is rapidly going down the drain.

My understanding is that the kilo proofs can NOT be reminted after the close of the year of that particular coin....only bullion kilos can be reminted past the close of the year for that coin (and until end of the series).

Am I correct in this understanding?

they probably could with a different packaging

 

[mmissinglink]

<< they probably could with a different packaging >>


Hmmm, and I guess therein lies the dismay that so many collectors seem to have with the PM...justifiable dismay.

 

[silverstar1]

Off topic, does anyone Know the remint policy on the three coin silver proof set?

Since the PM reminted The whole 2 0z proof set (the first 6 so far) it seems they will remint any amount of the proofs as they want , just in different packaging so it is unlikely they will remint the 3 coin proof sets, they certainly could remint any of them in different packaging I guess until the end of time ?? even though it says on the COAs "no more than x amount of these coins will be released" , this is at the heart of some of their policies that I think is dishonest . So i guess they could make a number of proof remints as long as it is in different packaging , just another reason I am done with perth mint other than maybe bullion at a low premium or I just really like something.

 

[mmissinglink]

Off topic, does anyone Know the remint policy on the three coin silver proof set?

Since the PM reminted The whole 2 0z proof set (the first 6 so far) it seems they will remint any amount of the proofs as they want , just in different packaging so it is unlikely they will remint the 3 coin proof sets, they certainly could remint any of them in different packaging I guess until the end of time ?? even though it says on the COAs "no more than x amount of these coins will be released" , this is at the heart of some of their policies that I think is dishonest . So i guess they could make a number of proof remints as long as it is in different packaging , just another reason I am done with perth mint other than maybe bullion at a low premium or I just really like something.

Yeah, that's pretty much the way I'm feeling at this point about PM coins.

 

[Holdfast]

I don't agree with that. Just because the Perth Mint can, didn't mean they will -- in the past.
Same with the Kookaburras, obviosuly there was nothing that stopped them from reminting them, but no one ever thought they would.
But all of a sudden the Perth Mint does remint them and this caused quite some outrage amoung all of us, including you Holdfast.

Wrong!

No outrage from me regarding the kilo lunars!

Get your facts correct sunshine!

My comments regarding Perth's mintage policy is clear and obvious.

Perth's mintage policy for the Lunars and Koala's has always been as clear as a kick in the balls!

H

No outrage from you regarding the remininting of the Kookaburra coins???
One of us needs to check their memory.

You mentioned the outrage for the Kookaburras in this thread, "not me".

In relation to this thread the Kilo lunar mintage policy has always been open and clear for all to view and...imo, the Koala coins have also had a clear and open mintage policy.

You are refering to the Kooks, which is a completely different ketal of fish!

Most people didn't know the mintage policy for the Kooks back in the 1990's and early 2000's and of course the Kook re-striking issue has been put to rest because a few people got off their arse to prevent further re-strikes. I was outraged by the re-striking of the earlier Kooks because, to me, and many other Kook collectors, Perth's restriking of the Kooks was a "Covert-Operation".

There's never been an issue with the Koala coins or Lunars because Perth's policy has been frank and open.

Stackers have known and expect the Kilo Lunars to be re-struck.

H

 

[rbaggio]

I think this thread should be stickied

or at least a mention in an existing sticky somewhere about the fact 1kg series 2 lunar coins can be reminted until 2019

This is in order to save future complaints from new members (who may not have even joined SS yet)

Thoughts?

 

[IronZepp]

Have they/could they remint the gemstones as well? Annoying they keep all this a secret

 

[rbaggio]

Have they/could they remint the gemstones as well? Annoying they keep all this a secret

No they cannot, and it is not all kept a secret. It is all in the open.

For example, 2008 Mouse: http://www.perthmint.com.au//documents/2008_Perth_Mint_Numismatic_Coins080113.pdf

1kg $30 1kg Lunar Silver Diamond Eyes Mouse Coin 2008
Maximum Mintage: 5000
Declared Mintage: 309

What does "Declared Mintage" mean?

Refer to: http://www.perthmint.com.au/mintage_policy.aspx

For MAXIMUM MINTAGE coins:
Once the MAXIMUM MINTAGE is reached, the coin is pronounced 'sold out' and no further coins are minted. If a coin is not sold out, the mintage will remain open until such time it becomes sold out (MAXIMUM MINTAGE is reached), unless:

The coin is offered for sale for a specified time period only; or,
The market no longer has any interest in the coin

In either case, The Perth Mint will close-off production and declare the mintage (DECLARED MINTAGE) at the appropriate time.

 

[IronZepp]

Have they/could they remint the gemstones as well? Annoying they keep all this a secret

No they cannot, and it is not all kept a secret. It is all in the open.

For example, 2008 Mouse: http://www.perthmint.com.au//documents/2008_Perth_Mint_Numismatic_Coins080113.pdf

1kg $30 1kg Lunar Silver Diamond Eyes Mouse Coin 2008
Maximum Mintage: 5000
Declared Mintage: 309

What does "Declared Mintage" mean?

Refer to: http://www.perthmint.com.au/mintage_policy.aspx

For MAXIMUM MINTAGE coins:
Once the MAXIMUM MINTAGE is reached, the coin is pronounced 'sold out' and no further coins are minted. If a coin is not sold out, the mintage will remain open until such time it becomes sold out (MAXIMUM MINTAGE is reached), unless:

The coin is offered for sale for a specified time period only; or,
The market no longer has any interest in the coin

In either case, The Perth Mint will close-off production and declare the mintage (DECLARED MINTAGE) at the appropriate time.

Sorry, I was just expressing my sympathy to those who were annoyed in the thread, and didn't think to look any of it up, as I'm not particularly interested in bullion coins myself.

Having said that, to someone who is relatively new to it all, all the different designs and types and sizes can easily overwhelm someone who takes an idle interest in it, especially when you are trying to find answers which in my opinion aren't easily found on their website. I know they are re-minting only the 1kgs, but are they reminting only bullion coins, or bullion and proof?

 

[Pirocco]

In short, the reminting is just to snag a part of the collector based profit away from existing owners. What else?
I can only agree with the statement that a coin with a year stamp on it should not be produced anymore in later years.
Basically this reminting is part of a scam, the selling side (dealers) touts out additional collectors value as an argument to buy them, but then they reproduce and sell them on a market, screwing their own argument.