Perth Mint Mintage Policy, Lunar Series II 2 oz. Silver Proof Coin Availability

Within my last post on Perth Mint products, I had mentioned that the Perth Mint was working on the publication of a new mintage policy. The new policy has since been announced on their blog and published on their website.

Under the new policy, each coin will have a maximum mintage clearly stated upfront, which will reflect the total number of pieces that may be struck for release. The Perth Mint may continue to offer packaging variations, which will carry their own issue limits, however the maximum mintage will not be exceeded. Marketing, promotional, and certificate materials will clearly state the packaging issue limit and the maximum mintage.

The policy also contains a provision for coins which do not have a maximum mintage established. These will be regarded as having an unlimited mintage.

For both maximum mintage coins and unlimited mintage coins, the Perth Mint indicates that they can cease manufacture and declare a final sales figure as the declared mintage after which no further coins can be manufactured. The Perth Mint recently started declaring the mintage figures for some numismatic issues, already closing off all 1986 to 2002-dated issues. They will declare mintages for 2003 to 2011 numismatic issues that are not sold out in early 2013.

The motivation for the new policy was clearly to address recent collector concerns and remove the uncertainty surrounding the absolute number of coins that may be issued across multiple packaging options. The last round of product releases from the Perth Mint on November 1 seemed to garner less excitement from collectors, as it occurred in the midst of the controversy about “mintages”. The next release date will occur on January 3.

Australian Lunar Series II 2 oz Silver Proof Coin Collection

Some readers have pointed out that the previously unavailable Lunar Series II 2 oz Silver Proof Coin Collection is once again available for sale on the Perth Mint’s website. See product page.

This collection includes the first six designs of the Australian Lunar Series II with 2 oz. Silver Proof Coins for the Year of the Mouse (2008), Ox (2009), Tiger (2010), Rabbit (2011), Dragon (2012), and Snake (2013). Each of the coins was previously released within a Three Coin Proof Set, which was limited to 1,000 units. The newly offered collection carries a limit of 1,000 units.

A question on the Perth Mint Blog asked about the maximum allowable mintage for Lunar Series II 2 oz. Silver Proof Coins. The Perth Mint response stated, “This coin was originally issued prior to the new Mintage Policy which calls for the maximum mintage to be stated upfront. Having said that, I do not foresee this coin being included in any packaging variation other than the existing Three-Coin Set (1,000) and 12-Coin Collection (1,000).”

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Comments

  1. hw says

    Regarding the Australian Lunar Series II 2 oz Silver Proof Coin Collection, I see there are now 86 sets available as of this writing. Interesting.

  2. Samuel says

    dont like them. dont know why they changed the chinese letters’ style—the last 2 are different than the frist 4.

  3. Merlin says

    I guess the Perth Mint got the message when all of us coin enthusiasts stopped visiting their website. Hence the “maximum mintage” statement from the PM now has the same meaning in US English as well as Aus English. So a max mintage declaration has been made, yet still listed under the product description are limited or extremely limited mintages, these have no definitions. The PM team has acknowledged that maximum mintage will be added to the product description, but until they actually do, there is no stake in the ground. I will be waiting to see how this maximum mintage declaration actually gets implemented.

  4. says

    I’d been waiting for this to be formalized.

    It’s a good thing that they’re doing this. It was quite a pain to try to figure out the “real” various maximum mintages when it came to the dragons last year. This is badly overdue, but I’m glad they did it. I think Perth remains one of the most customer friendly mints out there, and I hope their sales start to recover some now that this new policy adds some confidence in their products.

    I’m a bit surprised that the two ounce sets have gone back on sale. Too bad I still don’t have the cash available for it.

  5. G says

    I’m glad they listened to their audience. I’m more likely to buy future issues. I felt a bit ‘taken’ when my 2-oz from the proof sets popped back up. Still feeling a bit down about it.

  6. Frankie says

    I bought two of the 2oz lunar proof sets, but from silber-corner.de (they still have 100 left as of now). This will be very nice to look at once complete in 6 years… I hope my financial situation won’t force me to sell them before that date! Right now I’m deliberating buying another one but will probably wait…
    Yes, I’m happy too the Perth Mint decided to be a bit more honest about their mintages. Loosing your customers’ trust is the worst thing that can happen to any business and that’s what they are essentially.

  7. Shutter says

    So, who got the Lunar good fortune set?

    I decided to stick with Wisdom and not spend my Wealth on this set. Especially if 3,500 more could show up in a month or two,

  8. Frankie says

    I guess now we have the opposite scenario – declared mintages may be higher than actual ones. PM will be conservative and presumable bump up the max mintage by a few thousand to have a few up their sleeve for later release in case the coin(s) is/are doing well. But they may not exercise that option on all of them. But this is certainly better for collectors than not knowing where the mountain is…

  9. Jeremy says

    @Louis, the Lunar Good Fortune set was made available briefly yesterday. The way the Perth Mint plays games with their offering just sucks! Horrible company, awful business practices. Who cares about customer service when your ever even lucky to be able to purchase a product! I really no longer have any interest in their products, however, this set seemed unique and very pretty but its not worth the hassle. I canceled their newsletter and I’m officially completely done with this mint!

  10. Ondi says

    I am not going to pay a premium for a coin that can just be repressed again at anytime in the future (oh but wait it will be in different packaging! pfffft) That is just ridiculous!! If they want their customers to take that kind of risk then they should reduce their prices accordingly.

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