Tuesday, April 30, 2013

2013 Bicentennary of the Holey Dollar and Dump Silver Proof 3 Coin Set

Posted by | Filed Under: Royal Australian Mint

The Royal Australian Mint has collaborated with eh Real Casa de la Moneda (Royal Spanish Mint) to create an intriguing products to mark the 200th anniversary of the Holey Dollar and Dump.

The original Holey Dollar and Dump were created in response to a shortage of circulating coinage in the colony in the early 1800′s. After 40,000 Spanish eight reale coins were shipped to Australia in 1812, Governor Lachlan Macquarie had convicted forger William Henshall punch the centers out of each coin and counterstamp them. The outer rings had a value of five shillings and the centers had a value of 15 pence.

The origin of these famous coins makes the collaboration with the Spanish Mint particularly fitting for the special coin set.

 1809 8 reales coin

Each set includes a reproduction of the obverse design of the eight reale coin produced by the Spanish Mint. This coin features a special “C” privy mark to symbolize the special release. The coin carries a value of 10 euros and is struck in 92.5% silver with a diameter of 40 mm and weight of 27 grams.

holey-dollar

Australian Dump

The two Australian coins included in the set feature reproductions of the designs of the Holey Dollar and Dump. These coins carry legal tender values of $1 and 25 cents. The $1 coin is struck in 99.9% silver with a diameter of 40 mm and weight of 18.65 grams. The 25 cent coin is struck in 99.9% silver with a diameter of 19 mm and weight of 5.80 grams.

set

All three coins in the set are struck in proof quality with an indicated mintage of 5,000. Sales are available through the Royal Australian Mint’s eShop as well as through many world coin dealers.

Earlier this year, the Royal Australian Mint collaborated with the Mint of Poland to create a special Kangaroo coin set that seems to have been well received by collectors.

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Friday, April 26, 2013

Streamlined Perth Mint Production Keeping Silver Premiums Low

Posted by | Filed Under: Perth Mint

Silver KookaburraAccording to a post on their blog, the Perth Mint has streamlined their silver bullion coin production amidst a surge in demand. The result is focused production on three options and a temporary suspension for the remaining options.

The Perth Mint has a very extensive bullion program, which includes multiple series with a wide array of different weights available. Some options carry maximum mintages, while others are produced to demand.

Here is a run down of the Perth Mint’s current silver bullion coin series:

  • Silver Kookaburra – includes the sizes 1 oz, 10 oz, and 1 kilo. A maximum mintage of 1,000,000 applies to the 1 oz size, with no limits for the others.
  • Silver Lunar Series II – includes the sizes 1/2 oz, 1 oz, 2 oz, 5 oz, 10 oz, 1 kilo, and 10 kilo. Maximum mintages are 300,000 for the 1 oz size and 200 for the 10 kilo size. Others do not carry a maximum.
  • Silver Koala – includes the sizes 1/2 oz, 1 oz, 10 oz, and 1 kilo. There are no maximum mintages for any sizes.

The Perth Mint has focused production on the 1 oz and 1 kilo sizes for the Silver Kookaburra and the 1 kilo size for the Silver Koala.

Earlier in the week, I was searching for low premium silver options to take advantage of the decline in market price. As has been widely reported, premiums have soared for many silver bullion options, negating the impact of the fall in market prices. For example, premiums for American Silver Eagles have been as high as $6 or $7 over spot, which puts the price per ounce back over $30. Even traditionally low premium options such as bulk quantity 90% U.S. silver coins have seen premiums soar.

In my searches at a major bullion dealer, I did find the 1 kilo Silver Koala and 1 kilo Silver Kookaburra coins priced as low as $1.59 over spot. This was cheaper per ounce than basically all other government minted silver bullion products and even cheaper per ounce than 100 ounce silver bars from the same dealer.

Streamlining production and fulfilling demand for only certain sizes and products seems to have had the impact of keeping premiums low for the given products. This is a much better approach than limited production across all products, leading to rationing, unavailability, and higher premiums.

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Tuesday, April 23, 2013

2004 40th Anniversary of the Last Australian Penny Silver Dollar

Posted by | Filed Under: Past Coins, Royal Australian Mint

From the late 1990′s and into the following decade, the Royal Australian Mint offered a subscription series through which coins were offered to collectors and minted to demand based on the orders received. Many of these are particularly interesting or innovative, as is the case for proof silver dollar issued to mark the 40th Anniversary of the Last Australian Penny.

The Australian Penny had been produced for a period of 53 years from 1911 to 1964. The last pennies were produced in 1964 due to the impending switch to decimal coinage in 1966, which would include cents rather than pennies.

The Royal Australian Mint celebrated the 40th anniversary of the last penny with a proof silver dollar which paid homage to all of the past penny designs and included a reproduction of a 1964 Penny. The coins were created by placing a replica of a penny within an outer silver ring.

2004 1964 Penny 40th Anniversray of the Last Australian Penny Silver Dollar

The inner replica was made using the Mint’s advanced technology with reference to Melbourne minted 1964 penny from the National Coin Collection. The obverse features the Mary Gillick effigy of Queen Elizabeth II and the reverse carries the George Kruger Gray kangaroo design. The replica was struck in 99.9% copper and had an antique finish applied along with a protective lacquer finish. According to a note included with the coin, the application of the antique finish creates variations in patination resulting in a unique appearance.

This unique replica was placed within an outer ring of 99.9% silver struck in proof quality. The obverse of the outer ring contains a small sized version of the Ian Rank-Broadley effigy of Queen Elizabeth II with the legal tender denomination of “1 Dollar”. The reverse includes recreations of various Australian pennies and the range dates of issue for the denomination “1911″ and “1964″.

Together the silver dollar has a wide diameter of 50 mm and weight of 56.45 grams. The total mintage was 16,437 pieces.

I had purchased an example of this coin after reading this article on the NGC website. The article contains a fantastical tale about the discovery of a hoard of 1964 pennies which were encased within a silver ring to create new proof silver dollars. As far as I can tell, this story is not accurate since the certificate of authenticity, booklet, and box for my coin all clearly indicate that the inner portion of the coin is a specially produced replica. Nonetheless, I still find this to be an interesting and enjoyable piece.

Maybe one day when a world mint drops their lowest denomination they will create a similar encased commemorative product containing genuine examples of the last coins.

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Friday, April 19, 2013

New Coin Releases from Latvia

Posted by | Filed Under: Latvian Coins

Latvia 1 Lats Baby Coin

This post will highlight two coins recently released by the Bank of Latvia. The first is the “Baby coin” which is issued in dedication to folk traditions. The obverse features the charming image of a cradle with baby being held by a bird. The inscription “LATVIJAS REPUBLIKA” appears beneath. On the reverse is the image of a mouse pulling a chest full of sweet dreams. The denomination “1 Lats” appears beneath.

In Latvian tradition the newborn baby is visited about a month after arrival for wellwishing and to provide some tangible gift. It has been popular to give a newborn a silver or gold coin as a present. The latest coin would be ideal for such an occasion.

Each coin is struck in .925 silver to proof quality. The weight is 22 grams and the diameter is 35 mm. The mintage is limited to 5,000 pieces. The price at Latvian Cashier’s Offices is 32.92 Lats (about $62).

Rūdolfs Blaumanis 1 Lats Silver Coin

The next coin is issued by the Bank of Latvia for the Eurostar Programme, which this year highlights European writers. Latvia’s coin honors Rūdolfs Blaumanis, a writer, journalist, and playwright. He is considered a master of realism and one of the greatest writers in Latvian history. The release coincides with the 150th anniversary of his birth.

The obverse design features a portrait of the author with the titles of some of his works in the background. His name appears in the left field with the date “2013″ below. The Eurostar symbol also appears. On the reverse is a homestead surrounded by trees, which appears on a tree leaf. The inscription “LATVIJAS REPUBLIKA” appears above with the denomination “1 LATS” below. The design seeks to convey the search for human harmony centered around the ideal of family and native land which had been the theme of the author’s works.

Each coin is struck in .925 silver to proof quality with a weight of 22 grams and diameter of 35 mm. The maximum mintage is 5,000 pieces, and the coins are available at Cashier’s Offices at 32.92 lats.

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Wednesday, April 17, 2013

New Releases from the Mint of Finland

Posted by | Filed Under: Mint of Finland

F.E. Sillanpää and European writers This post will highlight two recent releases from the Mint of Finland. The first coin is issued for the Eurostar Programme under which member countries coordinate to issue coins celebrating aspects of European identity for a different theme each year. This year’s theme is European writers.

Finland’s contribution to the program features F.E. Sillanpään, one of the most famous Finnish writers who was awarded the Nobel Prize for Literature in 1939 “for his deep understanding of his country’s peasantry and the exquisite art with which he has portrayed their way of life and their relationship with Nature.”

The designs for the coin are by two different artists and were selected through an open competition. The obverse features a likeness of the author in his later years designed by Reijo Paavilainen. The reverse by Pekka Rytkönen seeks to portray the poetic side of rural life.

Each coin is struck in .925 silver with a weight of 17 grams and diameter of 33 mm. The mintage is limited to 20,000 examples in proof.

Sophie Mannerheim and Finnish Health Care

The second coin, which was released earlier this year, is issued for Sophie Mannerheim and Finnish Health Care. She was a prominent figure of her time who worked to develop nursing practices and promote the well being of children. Profits from the coin will help to build a new children’s hospital.

The design of the coin by Tero Lounas represents her love for children and her strong will to focus boldly on the future.

Each coin is struck in .925 silver with a weight of 25.5 grams and diameter of 38.6 mm. The mintage is limited to 17,000 pieces in proof.

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