The Perth Mint is working towards the publication of a new Mintage Policy in response to recent debate on this blog site.
It‘s a fairly complex document that requires a bit more work before we’re ready to make it public. However, it’s advanced enough for me to present our ideas on the major concerns expressed by those who have left comments.
Just before I go any further, I want to say that we’ve been listening very hard in recent weeks, not just to your contributions via our own blog, but also on the well-known forums where we’re discussed.
The insights many of you have provided are invaluable to us. Of course, we have never deliberately set out to upset anyone, but it is clear that some of you are far from happy. In response, we launched an immediate investigation to underline that we are an open, honest and ethical organisation – not beyond mistakes – but one that is happy to listen, learn and take corrective action.
So let’s cut to the chase about mintages.
We are dispensing with the concept of ‘packaging mintages’. This, I believe, lies at the heart of your dissatisfaction with what otherwise are products extensively admired for their quality and aesthetics.
As you have urged, the term ‘mintage’ will now refer exclusively to the maximum pieces of struck metal.
Just as important, every limited issue will have its mintage plainly stated. For clarity, this is probably best illustrated by an example of how it will appear in a Certificate or brochure, such as:
“No more than 10,000 of these coins will be released individually from a mintage of 12,000.”
This type of wording provides us with the potential to house up to 2,000 additional coins in one or more packaging variations. For such a variation you can expect the Certificate or brochure to state:
“No more than 2,000 of these coins will be released in this set from a mintage of 12,000.”
Our new Mintage Policy will make it perfectly clear that the mintages we announce in marketing brochures, on the website and in Certificates are absolute maximums.
The Mintage Policy is possibly a few weeks away yet, but I felt it was important to post early so that you are clearly apprised of our thinking and the urgency with which we are reacting.
I’m sure there will be plenty of questions. Please bear with us until a definitive document is available. It will be posted on the website and we’ll be pleased to engage in much more discussion then.
Please also be aware that because we work so far in advance, there are products currently in production that may not fully adhere to the principles I’ve outlined above.