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).”