1oz Year Of The Rabbit Coins Sold Out

21 Comments

• February 04 2011

  Jeff says:

  The challenge is on for a no nonsense Dragon 2012 !!  Make no mistake, get the designs right and it could be next Dragon 2000 (numismatically).

• February 04 2011

  David.M. says:

  Well congrats on the sellout of the Rabbit, first time for a Lunar I think?
  So will the mint no be producing the earlier Series 2 Lunars of Tiger, Ox and Mouse up to their 300,000 limits?

• February 04 2011

  Ron Currie says:

  Hi David M
  
  Welcome to the blog - appreciate your input. In principle we have the ability to strike previous 1oz silver Lunars from Series II only up to a maximum of 300,000 each.  We're currently looking at this but the final decision will be dependent on what interest we receive.
  
  Regards
  
  Ron

• February 05 2011

  Brendan says:

  Dear Ron,
  Could you please contact me by email.
  What $ amount do you require to re-commence production of 1oz earlier year lunars - could you please also supply series2 lunar current mintages up until now.
  Thanks.
  

• February 06 2011

  David.M. says:

  Thank-you for your reply. My 2 cents worth is that the Perth Mint should not begin striking more of the Mouse, Ox or Tiger because:
  a)  It will disadvantage those Perth Mint customers who bought their coins 1-3 years ago when they were released by the mint.  To strike more now would reduce any numismatic premiums to the detriment of those loyal Perth Mint customers who supported the mint's coin program in 2008-10
  b)  If a dealer were to commission further coins, it would be a large quantity and they could therefore control the market in say the 2008 Lunar Mouse, dictating price.  This would again be to the detriment of Perth Mint coin collectors, the real Perth Mint customers.
  
  I don't see how striking past Lunars can be positive for Perth Mint customers who over the years deligently buy their coins from the mint.  To wash new coins through the Lunar market will only make those coins already bought by collectors less scarce and allow those who have not supported the Mint's program an opportunity to "cash in" on the success of the Lunar Series, success made largely by the Perth Mint's loyal customers.
  
  Thank you for your time.

• February 07 2011

  Reg Whelan says:

  Hi,
  I am not a collector.
  
  I was a stamp collector. When I was young I saved up and bought a Sydney Harbour Bridge Stamp. It had increased in value to close to $1,000 but a very wise man Labour's Bob Hawke decided that Australia was so broke that he would sell all unsold stock and the value of the stamp plummeted. If that wasn't a great enough move He then dropped the system of definitive and commerative stamps and issued a new stamp as I said when I cancelled my subscription to the official publication,"Every time Bob Hawke Farted!" Please don't treat your collectors the same way that idiotic party did.
  Reg Whelan

• February 07 2011

  Jeff says:

  Excellent point David M., so the question now is, are the lunar series numismatics or bullion?
  
  If they are numismatics then no more striking of the mouse, ox or tiger where maximum mintage have not been reached
  
  If they are bullion then there should not even be any limit at all to start with... defeats the purpose of a bullion program with limited mintage - that's the area of numismatics.
  
  So, what are they really?

• February 07 2011

  Stephen Ward says:

  Hi Brendan
  
  Responding to your question on behalf of Ron, I can tell you that a decision to re-make earlier 1oz Australian Lunar bullion coins from Series II would be not be based on a dollar value. Rather, we would make the decision based on the total number of ounces required by our international network of authorised Perth Mint distributors.
  
  Mintage figures for 1oz Australian Lunars will be made at the end of the series, unless, of course, they officially sell out as in the case of the 2011 Rabbits.
  
  Regards
  
  Stephen Ward

• February 07 2011

  Ron Currie says:

  Hi David
  
  Thanks for the points you make above, which we take on board. However, the Australian Lunar coins you’re talking about are part of our ‘bullion’ program – attractively designed and priced for investors seeking exposure to precious metals. Each year we clearly state the maximum mintage for these 1oz coins with the following rider: "Production will cease when the mintage is fully sold or at the end of the series, whichever comes first”. Because of the low margin on these coins, we will always reserve the right to re-make previous issues within the stated mintage limit.
  
  Yes, they have some numismatic features – but that is not to say that they qualify as numismatic issues which by our definition require extremely limited mintages, premium packaging, Certificates of Authenticity, and, of course, exquisite proof quality finishes and/or special treatments.
  
  Regards
  
  Ron Currie

• February 07 2011

  Jeff says:

  The idea of a "numismatic bullion" sounds exotic but what we are seeing now is the consequence of that. 
  
  Call it one or the other and not both could give both the producer-seller and buyers-collectors clear sense of direction.
  
  

• February 07 2011

  David.M. says:

  Thank you for your reply. If the Mint were to begin producing more of the earlier series II coins, will this be announced by the mint at the time of the decision. ie. before the coins are actually minted? Or will there not be any announcement? Thank you again for your prompt replies. By the way, the RAM doesnt haven't anywhere near the excellent communication/information/blog that the Perth Mint has here.

• February 07 2011

  goldpelican says:

  I think numismatic bullion is a very apt description - they're being released on a bullion basis with initial wholesale/retail pricing determined on a spot + premium basis, but have numismatic characteristics - high quality, unique annual designs, legal tender status, part of a defined series, with a guaranteed maximum low mintage of 300,000 coins. That might sound high, but think about this - last year the US Mint cranked out 34 million Silver Eagles in 2010.
  
  Looking back to Series I, the design is generally what dictates the numismatic potential of the Lunar coins - the 1oz Dragon is considered the "key" coin of a Series I 1oz bullion set, trading at around $120+, yet it has the highest mintage of 118,000! On the other hand, the poor old Ox can still be had in Melbourne coin shops for ~$12 over spot, yet has the lowest mintage of only 52,000 or so (that's a free tip - it's a sleeper). Similarly, the relatively high mintage Horse (99,000) and Snake (71,000) round out the top 3 in terms of current demand and numismatic prices.
  
  If you want numismatic returns from your bullion, buy the design, not the mintage.

• February 08 2011

  Ron Currie says:

  Hi David M
  
  Thanks for your positive comments about the blog, which we will use to announce any decision to make earlier Series II Lunars if and when it arises.
  
  Regards
  
  Ron

• February 08 2011

  Ron Currie says:

  Hi Goldpelican,
  
  Appreciate your neat summary and other interesting points.
  
  Regards
  
  Ron

• February 08 2011

  Jeff says:

  Thanks Goldpelican, you are very neat indeed.  Borrowing and adapting from your good points, if we ran a numismatic vs. bullion checklist, the lunar series have:
  
  1. initial wholesale/retail pricing determined on a spot + premium basis;
  
  but
  
  1. high quality;
  2. unique;
  3. annual designs;
  4. legal tender status;
  5. part of a defined series;
  6. guaranteed maximum low mintage
  
  Have always wondered why a 9K jewellery piece can still be called "gold" when it has more silver or copper in it.

• April 01 2011

  Silverwillhit$100 says:

  "Within a day or two we will have shipped all 30,000 gold coins and 300,000 silver coins from the Mint, allowing us to declare official sell out of both sizes."
  
  Unbelievable!

• June 22 2011

  Jim Sexton says:

  A question.  I am very interested in the PM ten-ounce gold bars.  The pictures at the tulving.com website show a package that appears to protect against mischief.  But there are some very good counterfeiters out there, leading me to conclude that the package AND the contents could be counterfeited.  Some protection would be afforded by the number that is stated on each package.  Are those numbers registered by PM?  For instance, can PM confirm  that certain numbers has been sold to tulving.com?  That would be a start.  Thank you.

• June 22 2011

  Neil Vance says:

  Hi Jim
  
  We distribute bullion to wholesaler distributors internationally. These businesses then sell to dealers and retailers. As you will appreciate, we cannot record where individually numbered products are ultimately offered for sale by third parties.
  
  Regards
  
  Neil Vance
  Wholesale Manager

• August 20 2011

  Atlanta Gold & Coin Buyers says:

  Oh my god 30,000 gold coins and 300,000 silver coins how much they weight in kilo.. I can not just imagine if they sell it as a scrap gold and silver they will get way more money and as you refer these are old rabbit coins that means a single coin have some specific price more than it weight as gold.. can you please provide me detail anout how much they have cost.. Thanks for the information

• September 18 2011

  elizabeth guiver says:

  hallo,has enyone everheard of a 1980 1oz gold perth mint coin on the front it has 1oz fine gold the perth mint and the southern cross on the back it has 1980 bar gold apicture of a bar of gold and sydney australia

• September 21 2011

  P.G. says:

  @ Elizabeth Guiver
  
  That is not a coin but a medallion. Coins have the standard effigy of Queen Elizabeth II on the back. If this is not present it is a medal/medallion. You should take it to a second-hand coin dealer for assessment if possible, or if you are in the Perth region bring it into the Mint.