What do YOU think about the KOOKS REMINTING?!!?

They're also minting 2012 KOOKS with DRAGON PRIVY!!!! What an absolute joke and a half!!!!

Just to get your opinions though - which ones do you think will be more desirable in future - the dragon privy or non dragon privy kooks??
 
Jislizard said:
SilverSanchez said:
This is why I dont 'collect coins' - its value (premium) is a derivative and by no means secure
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While I agree with that, the value of silver is not exactly secure either.
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Completely different sense of the word 'price' & 'secure'


Silver has a worth or value in a primary sense, the cost and premium of the coin has it in a secondary sense

The funny thing is, like government, the Perth Mint is diluting their customers investment ;)
 
From what I have read in the above posts, it seems that 300,000 is regarded as a small mintage..Now I guess that as far as numismatic coins go then the kooks are in the relatively small mintage range.

I have always bought coins with silver content close to spot whether they be Australian or overseas coins.

In saying that, I must admit that I am partial to stacking the $10 state coins of sterling silver. You can always get $10 fiat for them at the local bank.. Now as far as mintage numbers are concerned. NSW ,VIC, SA and Qld (including circulated and Proof) are just under 100,000..WA and Qld come next with the ACT and the NT having a mintage of below 50,000. But the standout is in the $10 bird series with the eagle only having a mintage of less than 20,000.

It must also be remembered that a lot of these coins were banked for their $10 fiat value, This I believe happened after they were issued for $23 U/C and $46 proof. Silver dropped to $4/6 an oz and a lot of collectors sold them to the banks for more than they could get for them at spot prices.

Now back to the kooks...You can get a $10 silver Kookaburra coin 1989 RAM, sterling silver, low mintage for $20 as at now..

Ok so you don't like sterling coins, thats fair enough but is you are buying coins from the numismatic angle, why wouldn't you buy some of these if mintage numbers is so important?

Regards Errol 43
 
I like sterling coins myself, but have become wary of the convenience of reselling. You have to convince potential buyers of what they are, unlike higher circulation 99.9 bullion coins.

So I buy 99.9 coins in preference to sterling, and then, secondarily, I look at their mintage amounts for a possible semi-numi edge.
 
300,000 mintage limit is still very low... the US and Canadians will pump out silver eagles and maples respectively in a day!!
 
SilverSanchez said:
Jislizard said:
SilverSanchez said:
This is why I dont 'collect coins' - its value (premium) is a derivative and by no means secure
Click to expand...

While I agree with that, the value of silver is not exactly secure either.
Click to expand...


Completely different sense of the word 'price' & 'secure'


Silver has a worth or value in a primary sense, the cost and premium of the coin has it in a secondary sense.
Click to expand...

Can't disagree with that either, however until something happens, along the lines of a currency collapse, the worth/value is pretty much in line with the price.

Their potential worth, as a store of wealth or a medium of exchange is much more value than their current fiat price, however, while we are bobbing along as we are at the moment, fiat is still a better store of wealth (it generates income) and is a better medium of exchange, as it is accepted in every shop and also to settle bills.

It is the potential benefit during a financial meltdown which makes silver worth more in our minds, but we are in the minority.

'Proper' coin collections, containing Proclamation Coins, actual rare coins etc. are not affected by people like the mint. They are however effected by new discoveries of hoards.
 
love it... if I was a stacker from way back I would be pissed. Still feel a tad jaded about the 2011s and 2012s, but thems the breaks :|
 
I dont think the reminting of kooks is as bad as what they have done with the dragons and all the privy marks on the coins e.g a dragon privy on a kook?
 
PM me anyone that want's pennies.I have a stack from most years.I have two british 1903 as well.

Dont really know anything about them.
 
Ok So far i am seeing available at around $35 per ounce..

1992
1994
1995
1996
1997
1998
2005
2006
2007

Anyone not owning these can now get for $35.. those who had them and probebrly valued them in $42 range will now get less than $35... do you dollar cost and buy more and snob the GIFT HORSE out of prinicple... i say we are lucky to source these despite it being UNFAIR to those who cant get the gift new old kooks.

I cant afford to get a roll of each but think it would be a cool idea if we each buy a roll and do straght 1for1 swaps so we can all get part Kook sets at 35 per coin.. (9 people)

HOT TIP: 1990 and 91 should be well worth obtaining now before they spike.

1for1
 
I reckon it sucks.If the coins didnt meet the mintage sales level then leave it be.Look after your customers and be fair with the market! Design another coin/s and make that.How bout doin a Dingo / Tassie Devil / Thorny Devil / Rock Wallaby or something like that? Awesome Aussie critters...sorta like the Cougar/Grizzly/Moose/Macaw...those are nice coins.I hate this Privy crap.Just my 2 cents worth(what next, 2c privy coins too?):o
 
Simple - no coin should ever be minted beyond the year it says it was minted in.

I don't care about the legal ramifications, whether they're allowed to do it or not, etc. If they want to mint more coins, they should find another animal set to mint or something.

As Hotel 46 pointed out, what's to stop other coins being reminted?

Can you imagine if they started minting all the S1 Lunar series to full mintage? So all those people that paid big $$ for Rabbits and Ox's will be fuming.

I think there is an unwritten/unspoken level of trust in a mint not to do silly things like this - and they've been breaking that trust more and more lately.

But why? For easy $$? For 'fairness'? Did someone whinge to them? I don't get it.

Edit: Sorry goldmember, looks like I repeated some of your post.
 
I thought there was a Rule about minting the Royal Effirgy... i thought it had to be the current effirgy of the currnt King?Queen.... ie: Perth Mint should of reminted these with the new queen as this is what she looks like now.. just thought that was a legal tender rule, not sure how tey got around that..

UPDATE - i am unable to sell my 92's to the general public at mimimal markup so i might completley ignore Kooks from now on.. the Canadain Wildlife series gets my vote now.. and if not ill get somali elephants or some armenia Noah's Arks.. seem to both be far more popular.

1for1
 
There are always two sides of opinion. Think it is definitely unfair for those who bought these coins with high marked up preimum. I really like the design of most of the kooks and think they look so great in a set. At one stage I saw the full set to date was selling in eBay for $2000+, I was thinking I wish I was born earlier and knew about the existence of these coins so that I could buy them at the normal price, $2k was way too much for the new stackers to catch up with the set.

As a new stacker, it is a great opportunity to catch up with the set with an affortable price. Those who bought these coins each year at the close to spot price can still make a profit, although lesser, think the worse off are those who bought at the extreme high marked up price.
 
I've lost quite a bit of money on my set of Kooks.
Here I was thinking the generic bullion was depreciating quicker with the downturn in the spot price!

We talk about market manipulation and silver being the most manipulated market by the big banks - well I think we just found our latest market manipulator, the Perth Mint!
 
Still keen for $100 per Oz Dragons?

I did try and warn people... :/

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There's a lot to be said for KISS when you're talking about stacking SILVER...

That's not to say if you can't get premium product for just a shade above bullion prices it's not worth the gamble by all means, but just be very aware that at the end of the day silver stackers is about the ounces first... chasing premiums and dabbling in collectables has risks.

Keep your stacking options simple guys is all I can say.

If you had 1000oz in 10oz bars and 200oz in 50c coins as your 'stack', I'd say you're a smart damn cookie!

But it doesn't hurt to feed your collectable side a little as well, as long as you appreciate the risks and don't go overboard.

But even then, at the end of the day... it's still silver and that's always good. Just don't get too caught up in the hype that one silver is better than another silver

Trust me, when it goes into the melting pot eventually, that won't matter at all.
 
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