Mar 062012
 

Frantic demand for the 2oz Coloured Dragon silver coin resulted in nothing short of mayhem at the Perth ANDA Coin Show.

On Saturday, collectors began queuing outside the venue from 7.30am. Inside, the line of buyers stretched from The Perth Mint stand across the exhibition hall right up to the entry door!

Under vociferous pressure from several buyers, we had little choice but to make all remaining coins available to buyers on Sunday.

2oz Coloured Dragon silver coins were snapped up at the ANDA Coin Show in Perth last weekend.

No Website Sales

Sincere apologies to anyone hoping to be able to purchase this coin on the website today – we have none available as a result of the extreme level of interest at the weekend. Having expressed our intention to sell them online today, we understand that some of you will be deeply disappointed.

However, you may still be able to resolve this by contacting one of the following Perth Mint authorised dealers urgently:

  • Downies
  • Prospect coins
  • International Numismatics
  • Peter Strich Coins
  • MR Roberts
  • Western Sydney Stamps and Coins
  • Coin Club
  • VP coins

 

  33 Responses to “Dragon Coin Mayhem Hits Perth ANDA Show”

  1. I waited all day for them to be posted on the website. This is shocking that they would bow to pressure at coin show to sell all the coins. Unfortunately I will never buy this coin now to pay a inflated dealer price. I will think twice before purchasing from the Perth Mint again

     
  2. Very disappointed because at least 50-100pcs could have been reserved for the webstore. Instead I need to contact other companies. Not good 🙁

     
  3. So … you give them to dealers who are charging $599 per coin!! (with a limit of 2 per house hold.. umm no thanks Coin Club!)

    Well done Perth mint – dealers are surely happy to have that nice fat profit on those coins.. shame the collectors who lined up or waited for your website had to miss out.

     
  4. I’m in the same boat. Waited all day being here in the USA. Now all I see is multiple ebay lots from the same person and dealer sites with the coin over $500. Disappointing at the very least.

     
  5. Perhaps next time customers at the show can be limited to 1 coin per person (rather than the two I am led to believe they were allowed), so that other customers are not left hanging or gouged by your official authorised dealers for ridiculous prices.

     
    • My understanding is that out of 1000 coins, 700 were sold to dealers and the rest to the public. The public paid their dues by standing in line twice – once to get in, and then at the Mint’s stand. Blame the Mint, not the public.

       
      • 700 were sold before 10am on Saturday to those who lined up (not bulk to dealers). We were there at 8am & ended up about 20th inline at the Perth Mint stand. Max. 2 per person (I agree 1 per person should have been set) by 9.50 they had sold out & had 200 reserved for Sunday. Don’t know what happened on Sunday

         
    • Ahh yes, those greedy people who have businesses. (Sarcasm)

      I wonder, how many people standing in that long queue would have thought of their fellow man and only purchased one coin regardless of the limit.

      Of course if you purchased two coins or ten coins, you would sell them at $172 each plus costs and a modest gain of 10% wouldn’t you?

      No, infact, any good business-man would sell the coins according to what the market will pay as-long-as the price didn’t hurt their reputation.

      We don’t have to buy from these people who sell coins at $599.99; what we can do is email them, a strongly worded message of non-support for their business in the future.

      So Mr. Bullion Baron, how much are you going to sell your coins for? lol:)

      Don’t price gouge now will you? 🙂

      Kind regards

      Billy Black Smith

       
      • I didn’t get any ANDA Dragons to sell.

        However, I’m a private investor. I don’t really have a reputation to maintain as being fair and equitable.

        Are dealers harming their reputation by gouging on coin prices? I think the angry responses I’ve read here and elsewhere speak for themselves.

         
  6. I was at the show and i would say about 150 people in front of me before telling me they were sold out ,so even if they took 2 each they only sold around 300 on the first day,so much for a show coin that you cant even get at the show,very poor Perth Mint!! Its amazing how dealers around the world can have them if they sold out at the show!!

     
  7. The dealers should have a first-sale price limit given by the Perth Mint (e.g. 210$). And after they sale some the price can be raised. This would be better.

     
  8. I had hoped the dealers were under the same restrictions as the regular retail customers …. it appears not though as I can order 10 coins from one dealer.

    Quite disgraceful actually given the dragon hype.

    What next ? 2oz ANDA Dragon with privy mark to ‘cash in’ on more sales ?

     
  9. Thanks for the up-date Perth.

    A few things you could of done to keep customers happy was to;

    *Advise all Perth Mint sales staff that the coins would not be for sale.

    *Place a notice on the Collector site, advising that the ANDA Dragon would not be for sale. (At the same time that you listed the 2012 Perth ANDA Special – Celebrate Australia – Shark Bay 1oz Silver Proof Coin).

    *As already stated, have an allocation for phone sales and online-sales, even… 50 coins for each could have made those dedicated fans happy (Even if they missed out).

    Generally, you had customers that were disappointed in 2 key areas.

    *At the ANDA coin show, because they had to wait in queue and then be told the coins were sold out.

    *The rest of Australia and International customers who waited on-line and now told the coins would not be listed.

    This is a case of poor management and, the old case of, the right foot not telling the left what is going on.

    What you have done, is let your phone sales staff down, by not telling them what is going on; infact you’ve embarrassed them due to managements poor coordination, poor briefings and poor direction.
    Tasking is directed from the top down guys, so you really need an Operations Officer who has got his act together.

    In conclusion

    I think you you need to prioritize your operating procedures.

    The CEO needs to get with his Ops staff to direct and implement workable policies; the Operations Officer really needs to get his coord fixed and….if due to lack of funds, or resources the CEO needs to address these issues.

    All in all, the CEO is to blame for poor management, after-all it is he who is supposed to lead and direct.

    Very disappointing effort Perth; please keep us more informed in-future. We don’t mind missing out on a coin issue….. such is the nature of the beast but, you really could have let the coin community know what was going-on via your web site.

    Regardless, congratulations to those who were able to purchase a coin for their collection; the 2oz coloured coin is a real stunner!
    For those who did miss out…..don’t forget the 2oz coloured coins can be found as a single 2oz red coloured bullion coin from:
    http://www.silber-corner.de/

    Kind regaqrds

    Billy Black Smith

     
  10. I think you’ll find that more than a few of the eBay sellers that have high BIN prices on eBay are in fact collectors that queued up to buy them.

     
  11. This night (in Germany 01:30 – 03:00 AM) I tried for about 1 hour to order, always refrehing and refreshing the webside.
    Why didn’t the Mint give the information that the coin will not be to order online
    at least?

     
  12. I waited to purchase one of these coins on line, checking and rechecking your web site as you said that it was going to be available on line, how can you justify your actions, you have many loyal members who depend upon your web site to purchase their coins and it seems you just disregarded them. IF YOU SAY THEY WERE GOING TO BE AVAILABLE, IT WAS UP TO YOU TO ENSURE THAT THEY WERE. Very poor preformance, you droped the ball on this one.

     
  13. Hi all,
    It is all very unfortunate that all the waiting was just in vain and indeed communication from the PM side needs improvement.

    I fully agree with Billy Black Smith;
    The operational process requires a full review as in my view the PM should plan their coin campaigns very carefully and preferably already before the first coin is going to be released.
    Steering the operations from one release date to the next one is something that carries a risk of erroneous decision making if not performed properly. Supposedly the PM sees the release of e.g. a lunar coin as a large project they have failed applying the principle of ‘plan-do-check-act’ in the correct way.

    What is even more concerning is that possibly coin dealers might have been able to purchase multiple ANDA Dragons, and if so the PM not only has acted against their own normally strict rules of offering these coins on a 1-per-person limitation basis they are directly interfering with the market mechanism of price setting on secondary market.
    As said, this might as well be speculation but you may argue it is strange that the PM is already pointing its disappointed customers towards authorised coins dealers.

    Let’s hope for the future that the PM will show us the necessary improvements which will eventually lead to the level of customer satisfaction where it is defined to be ‘customer excellence’.

    Though challenging, the latter would be a great objective for future coin campaigns and hopefully, when achieved, then all the negative blogging will belong to the past.

    Mzzl,
    Mokum

     
  14. I was under the same impression among other loyal international customers that the show coin will be available for on-line purchase (like the Rabbit and the Tiger coins).

    A bit disappointed that it wasn’t the case but surely shocked to learn that the distributors (quite a number of them) obtained the coins and sell them at a premium price while many of us either waiting in long line for hours or sitting in front of the computer refreshing the page end up with nothing.

    Why giving people false hope? Is it consider a fair practice in your business model?

     
  15. For any Perth employees reading, I have an ANDA question NOT related to the dragons.

    Other than the already released Shark Bay coin and the ANDA dragon, will you be releasing any other coins at the upcoming ANDA shows this year (Brisbane, Melbourne, and Syndney)?

     
  16. At this stage of the Year of the Dragon release calendar I’m dumbfounded that the Perth Mint can be caught off-guard by the popularity of a limited release dragon coin. Really, you were shocked by this?

    After the proof, 3-coin proof set, typeset, high relief, etc? Nearly every release has sold out very quickly and generated lots of customer interest and chatter.

    I agree with most posters above – not having the ANDA coin available on the web would’ve been understandable, but communication was a huge failure. We were explicitly told that there would be some expected allocation for the website. Not only was this plan changed, we weren’t told about it so we wasted lots of time sitting at the computer waiting or a release that wasn’t coming.

     
  17. I recall an individual bringing his entire family of 6 members there and snapping up 6 coins between them on a single card payment. Is this entirely fair?

    Shouldnt it be restricted to one coin per person per debit card. I have no doubt that individual is making a killing on these coins on ebay. Its a shame that collectors are not treated better off.

    I am also really disappointed about being misled by the staff at the counter telling me that 95 coins would be available for the online website. Had I decided to not take a chance and head off to the show on Sunday, I would have missed out as well.

     
  18. Could you confirm this?

    Is this the same Coin in the ANDA coin show? I doubt as the price quite too low.

    http://www.silber-corner.de/de/Lunar-II-Drache-2-Oz-Silber-coloriert-?x486ce=fhob9hs4325qeo768ui2s3o630ke0olv

     
    • Yes – it’s the same coin, which was sold to a client in China in capsules. Only the ANDA release, however, comes in Perth Mint collectable presentation packaging.

      Regards

      BlogTeam

       
      • I beg to differ Blog Team.

        Could you please re-check.

        The coin on the Silber Corner Web site is a Coloured Bullion coin!

        The Show Coin Special is a “Specimen Coin” which is a different quality.

        The two coins may look the same to the untrained eye but they are an entirely different grade.

        Kind regards

        Billy Black Smith

         
        • Are you sure there is a difference in quality between specimen and bullion coins? My understanding was that in Perth Mint terms the use of “specimen” was simply to differentiate the numismatic releases from the bullion coins, but that they were the same quality finish.

          If there is a difference in quality between a specimen vs bullion coin I would be interested to know what the specifics were… e.g. are they minted on different presses or with a different type of die?

           
          • They seem to have answered your question in the next blog. No real difference between bullion coin and specimen quality coin except for the packaging you get with the specimen coin. So I was correct about the Black Dragon coin from the Berlin show being the same as the 20,000 coins issued in the set to China.

             
          • Wow !! that does mean we paid premium tag prices for a mintage of 25000 instead of 5000.

            Very expensive boxes then.

            I assume your new ten-dragon set to be release in April will be the same 9 set offered in China + 1 extra dragon.

            All the same coins…just different boxes.

             
  19. Great! Every mentioned dealer above offers the coin for 450 – 500 AUD$. Cheap isn’t it? 🙁
    (ironical)

    This was a bad move from the Perth…

     
    • I bought this item at 260 AUD from dealer Prospect coins . Maybe you can try this dealer.

       
  20. What a huge fraud. I have information from a reliable source at the show that the Mint only Brought 200 coins to the show on Saturday then arranged for more coins to be delivered on Sunday.

    I personally bought 2 2 oz ANDA Dragon coins from the show very late on Sunday – even thought they were officially ‘restricted’ to one per customer, then bought two more of the coins from a dealer not mentioned in the blog post ( an ANDA authorised dealer who sold autherntic, certificated coins) for $195 each.

    And no – i did not do as many others have and sold some for a massive profit i kept my one and sold the others to a collector friend for the exact purchase prices plus postage. Since i obtained all my coins fairly and was not aware the Mint pulled them from the website until i just read this blog i don’t feel i did anything wrong – however the Perth mint most definitely has.

    And now i find there is no difference between the specimen and bullion coins but a crummy plastic box and cheap bit of cardboard.

    MASSVE fraud Perth Mint – why should any consumer trust you ever again – Take my advice – boycott all PM coins in future..

     

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