Perth Mint suspends production of 5oz and 10oz coins

goldpelican

goldpelican

Well-Known Member
Silver Stacker
At The Perth Mint, the silver coin presses are now at maximum output. In fact, we're at the stage where we may not be able to completely satisfy wholesale demand, circumstances we were forced to confront during the GFC.

Before anyone suggests we're running out of metal simply not true. It's manufacturing capacity that is the issue here.

So how are we handling the situation? As we've already communicated to our dealers, we have initiated a capital project which will provide a solution in the medium term. Right now, however, we've decided to focus production on kilo, 2oz, 1oz, and 1/2oz silver bullion coins at the expense of the 10oz and 5oz weights.
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http://www.perthmintbullion.com/blo...rth_Mint_Focuses_On_Most_Popular_Weights.aspx
 
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.
 
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
 
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.
 
Matter of having the presses for it.

And they are producing nearly that number of kilo coins as well...
 
Forge said:
Matter of having the presses for it.

And they are producing nearly that number of kilo coins as well...
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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.
 
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.
 
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 :(
 
Matthew 26:14 said:
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.
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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?)
 
rbaggio said:
Matthew 26:14 said:
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.
Click to expand...

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?)
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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 :)
 
Mud Gecko said:
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 :(
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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.
 
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.
 
Matthew 26:14 said:
projack said:
2010 kooks were around 49,000
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Got a line in the 2010 Lunar numbers ?
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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.
 
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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