Oct 022012
 

A beautiful new release this month is the Possum coin from our delightful Australian Bush Babies 1/2oz silver series. For young collectors, Animal Athletes leaps ahead with the long-jumping rocket frog release! It’s also traditional at this time of year to announce new Lunar coins featuring special treatments including colour and gilding.

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Go straight to new releases on our website.

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  26 Responses to “October 2012 New Product Bulletin – out today

  1. Dear Perth,

    What is the deal with this 2oz proof 12 coin collection? Can you elaborate more about it? Will all of the 12 coins be coloured? Will all 12 coins be announce all at once or 1 coin at a time or 3 coin at a time?
    Will the set contain the 2oz silver proof that was part of the 3 coin proof set?
    If that is the case, it is a big mistake to take away the final ‘uniqueness’ of the 3 coin proof set. You already announced the 1/2oz proof which took away the uniqueness of the 1/2oz proof in the 3 coin set.

    Are we going to have another 10 coin coloured specimen set like 10 coin dragon set? Will there be also a 9 coin set sold in China? Will you try to milk the snake just like the way you milk the dragon to the point of exhaustion?

    Talking about all these 9 or 10 or 12 coin set, you need to get away from your boring ‘red plastic box’ and go back to the prestige ‘wooden box’ which is traditional yet classier and more luxurius than your current boring packaging.

    For creativity of numismatic packaging, please learn something from our neighbour, the New Zealand Mint. They are the absolute standard of creativity for you to look up to.

    The packaging of numismatic coin needs to reflect the theme of the coin it is housing. Try to use liquid water on the packaging for fish coins, shape of an egg to house the upcoming baby snake, play with different shapes of packaging.

    Please be creative! After all, the packaging of a coin play important part of the numismatic value.

    Thank you for your explanation and we hope it will give collectors a better idea how to keep up with your designs.

     
    • Hi Goblue

      Thanks for your many comments. Here are our responses in order of your questions:

      Initially, buyers of the Australian Lunar 2oz Silver Proof 12-Coin Collection will receive six standard 2oz proof coins (dated 2008 – 2013) in a presentation case and six Certs. The case has room for the final six 2oz proof coins, to be issued between 2014 and 2019. A maximum of 1,000 sets will be issued with just 100 available in Australia via Perth Mint wholesale and retail.

      We have no plans to issue a 1oz Silver 10-Coin Set or 1oz Silver 9-Coin Set in the Year of the Snake.

      We do not think that it is fair to suggest that the Dragon theme was “milked to the point of exhaustion.” The Australian Lunar Coin program has for many years offered a wide range of variations – Bullion, Proof, Coloured, Gilded, Gemstone, Typeset etc. Any additional product variations are generally manufactured in response to large client (distributor) orders who take the majority of the mintage for their market. This was the case in the Year of the Dragon.

      It is essential to understand that we are obliged under the terms of our operational agreement with Government to offer collectors in Australia a chance to acquire every coin we issue as Australian legal tender. For this reason, the remainder of the mintage (a very small proportion) is made available through our channels.

      Anyway, the fact that we sold out of Dragon issues does not suggest ‘milking’.

      Rarely do we receive negative comments about numismatic packaging. In fact, feedback from collectors and the coin trade is overwhelmingly positive. While we agree that it would be wonderful to create many more inventive styles, we have to bear in mind the impact on the overall cost of our products and the issues of writing-off unused packaging.

      We hope that this response helps,

      Kind regards

      Blog Team

       
      • Hi Blog team,
        I just noticed that my previous post elsewhere is similar to the above and answered here.

        Please can you tell us what the offering price will be for the first 6 Lunar II 2oz silver proof coins?

        Furthermore, does this also mean that we can expect single 2oz issues for the remaining years?

        Thanks again,

        Mokum

         
        • Hi Mokum

          The price for the first six coins and case will be $950 (subject to change if the metal price moves significantly).

          The remaining six coins for the collection will be released individually, in capsule only, with Certificate, on an annual basis.

          Kind regards

          Blog Team

           
          • Thanks Blog team for your prompt response.

            As only 100 Lunar II 2oz silver proof coin sets will be available on your site exclusively for Australian collectors, does this mean that the other 900 will be distributed to your dealers world wide or is Europe excluded?

            Thanks & mzzl,

            Mokum

             
          • Hi Mokum

            The 900 will be available in Europe via one of our major distributors there.

            Kind regards

            Blog Team

             
          • Regarding “Australian Lunar 2oz Silver Proof 12-Coin Collection” the 900 will be available in Europe via one of our major distributors there, can you tell me which is this distributor?

            Thank you!

            Nick

             
          • Hi Nick

            It will be Silber-Corner in Germany.

            Kind regards

            Blog Team

             
          • Blog Team, I’m a litle confused about how to aquire the 12 coin set?

            If I am lucky enough to buy a set when they are released in November, how can I be assured that I’ll be able to complete my set in the following years?

            Will the coins be put aside for collectors?

            Are you going to have some sort of collector registration?

            Or will you be issuing the 2oz proofs for 2014 through to 2019 in a similar fashion when buying the 1oz gilded lunar coins?

            Will there be a mintage increase of the 2oz proof from 2014 – 2019?

            On a good note, some of us are very keen to aquire these 2oz proof coins. I have the Ox, Rabbit and Snake 3 coin set that contains the 2oz proof coins and all I can say is they are bluddy fabulous.

            I’m sure that such a small mintage of 1,000 more 2oz Proofs really won’t hurt the collector market.

            If you do decide to mint other proof coins in sets, please consider the price and mintage a little more. I believe that the 5,000 mintage for the 5oz Dragon proof may have been a little too much and being the first 5oz proof lunar, it was priced a bit too high; the secondary market shows the coin sells for about $385.

            Anyway, I love the 2oz Proofs and bullion coins, they are fabulous and I hope I can get a set.

            Kind regards

            Billy Black Smith

             
          • Hi Billy

            It will become clearer oonce the product is launched on the website, but we understand that collectors who buy the first six coins and case are guaranteed the option to purchase each future annual release. The Mint will hold details of each collector and contact them personally each year to ensure they can finish the collection.

            Kind regards

            Blog Team

             
  2. Dear Perth Mint,

    Collectors are very upset or felt cheated when maximum/limited mintages of exclusive coins in the past get diluted by you going back to remint the past limited mintage in a different packaging.

    This time you have outdone yourself by reminting the super exclusive 2oz silver proof that can only be found in 3 coin set. Now all 2oz proof just doubled up in mintage from 1000 to 2000. I assume the mintage of the individual 2oz could also rise in quantity if you announce show exclusive or just raise the mintage of the rest 6 future coins.

    I guess the term ‘maximum mintage’ or ‘limited mintage’ should be interpreted very loosely by all of us or it only applied to the particular ‘packaging’ of the coin and not the coin itself.

    You said there won’t be coloured 9 or 10 coin snake set. Does it mean ‘green specimen’ in the typeset is an ‘exclusive coin’?
    Will you release it in any other packaging such as ANDA show exclusive?

    Could you also clarify what are the coins in silver high relief set? Are you going back to mint Mouse, Ox, Tiger & Rabbit in high relief so there can be a series of 12 coins set? What is the ‘limited or maximum mintage’ of high relief set? 7500?

    Thank you for your clarification.

     
    • Hi Goblue

      Regarding the Coloured Snake coin in the 2013 Typeset – 50,000 have gone to our distributor in China and we will announce our plans for its release as a Coin Show Special early next year.

      The Silver Proof High Relief Four-Coin Collection comprises the 2012-dated Australian Kangaroo, Koala, Kookaburra and Year of the Dragon high relief coins.

      We have no current plans to back mint earlier Lunar issues in high relief. (Good idea though!)

      Maximum mintage of the 2012 HR Collection is 1,000.

      Kind regards

      Blog Team

       
      • Dear Perth,

        You are doing it again. You are diluting the mintage or devaluing the numismatic value of High Relief Dragon by increasing the mintage from 7500 to 8500 with the additional 1000 high relief dragon in the Four coin high relief collection set.

        The term ‘maximum mintage’ or ‘limited mintage’ should be interpreted very loosely by all of us or it only applied to the particular ‘packaging’ of the coin and not the coin itself.

        Please advise.

         
      • Dear PM Team,

        I’m very, very disappointed about your plan for the 2012 High Relief Set. You announced for the HR Dragon that the maximum mintage will be 7.500. Now you remint 1.000 more so the maximum mintage is not 7.500 anymore – it’s 8.500!

        This is absolutley frustrating for all Lunar II collectors who already have the HR Dragon coin.

        Why do you annoy us so much? And trust me, I’m pretty sure that all 7.500 owner of the HR Dragon are very annoyed. (…same for the 2 Oz Proof Set).

        What’s next? A “complete proof Snake Set” 0.5 Oz to 1 kilo with signature of the coin artist?

        Don’t fool us. Right now your mintage policy for the Lunar II coins is way too much!

        Ask diretcly your end-consumer what they really want and not your distributors! You would be surprised what you would hear.

        Be aware to lose your clients to other mints.
        Other mints are doing good jobs as well…. e. g. the NZ Mint.

        I hope to get a detailed answer.

        Cheers,
        LunarIISilver

         
        • I to am very disappointed in this four coin HR set.
          Feels like blatant disregard for the customer. How can the mint advertise these with “extremely limited mintage” and then release more? This is not fair to the customer. I WAS enjoying collecting the HR coins but I will have to think long and hard about buying more from the Perth Mint.

           
  3. Dear Perth Mint:

    As a passionate lunar silver three-coin set collector, I am very disappointed when I see the release of 1/2 oz proof coin from the mint. Then when I see the news of 2oz proof coin set, I feel like I am done with the Mint. I just finally see that the money I spent not for the silver, but only for the packaging and the COA. I think after all, the only uniqueness that The Perth Mint leaves to the collectos will be the packaging and COAs.

    Maybe the Perth Mint has already seen this. The question for all of the numi collectors is that:
    “Have you seen this?”

    Kind Regards

    Perth_Mint_only

     
  4. Hi Blog team,

    Please can you tell us what the offering price will be for The Silver Proof High Relief Four-Coin Collection ?

    are will be these 1000 sets available worlwide?

    Thanks

     
    • Hi Piet

      We expect the High Relief Coin Collection to retail for $440, and it will be available worldwide.

      Kind regards

      Blog Team

       
      • thanks for information.
        do you have plans for new koala+kookaburra 2013 in high relief design?

        “We have no current plans to back mint earlier Lunar issues in high relief”
        thats really too bad

         
  5. Thank you for your feedback. Our thoughts:

    The Mint is passionate about the interests of its collectors. Without collectors there would be no numismatic program!

    But we are also a commercial operation, created by an Act of Parliament to return a profit to the State of Western Australia by adding value to Australian precious metals for export.

    Our job is to balance profitable business opportunities with the interests of collectors worldwide in the best way we can.

    Sometimes this involves re-packaging a coin to create an altogether new product with an exclusive mintage. We’ve done this over many years, so there’s nothing new here.

    It is not our intention to gouge loyal collectors. Such offerings are generally created for overseas coin distributors who initiate the project and formally commit to the vast majority of the mintage.

    That’s a valid business opportunity for the Mint.

    Collectors have little to fear from it. We believe the packaging and format variations we insist on make them separate, unique products.

    Even if you don’t accept that, an increase of 1,000 from such a low mintage base does not alter the fact that they remain extremely rare.

    In both examples discussed in this thread, we’re reasonably confident of achieving sell out – meaning secondary market prices won’t be unduly affected either.

    Hopefully this provides a better understanding of our decisions. Many thanks to all those who have contributed to this post and please rest assured your interests will always be vital to us.

    Kind regards

    Blog Team

     
  6. Hi Blog team,
    Will the releases of the 2oz proofs (2014-2019) be in a similar way like the first 6 coins of the set? (100 for Australia directly and 900 for the German distributor Silber-corner)

    Further, I am really happy to read that the PM is considering introducing a sort of subscription program for those who have obtained the first 6 2oz proofs to ensure they are able to complete the series.

    Excellent initiative!

    However, unless I am mistaken this will then only be the case for the 100 sets which will be available for the Australian market.

    But what about the other 900 ‘passionate’ collectors?

    Would it be a suggestion that the other collectors across the globe are also able to ‘subscribe’ based on e.g. the combination of an existing PM membership ID and copies of the respective COA’s?

    Looking forward to your response on this ‘fair’ treatment proposal…

    Mzzl,

    Mokum

     
    • Hi Mokum

      Correct, Silber-corner will be taking 900 of each 2oz silver Lunar coin issued between 2014 and 2019.

      The second question is a matter for Silber Corner to clarify – we have no control over their sales policy. However, as a reputable dealer we’re sure that they will be providing their clients with an excellent solution.

      Kind regards

      Blog Team

       
      • Hi Blog Team,
        Thanks for you response though I already had a bad feeling you would confirm that Silber-Corner will be the sole distributor of the annual 900 coins for the remaining years of the Lunar II series.

        Even more unfortunate as this coin dealer/distributor is not an ordinary one where everybody can place an order regardless as there business model does not permits trading with all countries in the world (!)

        If you ask me, this looks very similar to the 1/2oz silver proof Dragon project which eventually ended up in Poland and the Ukraine…but I guess that’s another discussion…

        Nevetheless it would be very interesting to know whether this 2oz proof set is part of a custom order placed by the Silber-Corner itself… (?)

        If so, would it not be worth considering all the arguments mentioned in this thread (and elsewhere) when claiming to be ‘passionate about the interests of its collectors’.

        Honestly, there is nothing new about these arguments and it is hardly thinkable the PM did not consider these when adding projects like the 2oz proof 12 coin set to their programme.

        Why doesn’t the PM consider accepting custom orders only when they result in new coin types?

        Despite the time needed to file new coin types for regulatory purposes (and this set is not part of it) this could have been enclosed in the PM sales terms already years back and serve(d) both the purpose of the profitability and collectors interests at the same time.

        As for your response on the effect of additional mintages on something that already has been announced as ‘extreme limited’ and tagged with a number at that time it makes perfectly sense that any collector will be outraged, and for obvious reasons.

        Offering coins in a set, in any composition, provides indeed an additional value but surely this will not be covered in the situation of the upcoming sets; High Relief and certainly not when it concerns 2oz Lunar proofs.

        A simple ratio calculation clearly shows what the effect is, don’t you think?

        Mzzl,

        Mokum

         

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