Thursday, April 12, 2012

Perth Mint reminting early (1992) Kookaburra Coins

Much to the dismay of some Kookaburra coin collectors (see Silver Stackers for discussion on the news) the Perth Mint has started reminting the 1992 Kookaburra 1oz coin. While some different sized & design bullion coins are minted only in the year before and of issue, the 1oz coins from the Kookaburra series have always been considered open for reminting to bring their total up to the limit, although many weren't aware they would go back and do so with a 20 year old design.

The following is a table (data from Perth Mint) showing the number of Kookaburras they could potentially produce if they remint the entire back catalogue up to their maximum limits:

YearMax MintageActual (10/2011)Difference
Available to Mint2,763,094

So there is the potential for Perth Mint to remint another 2.76 MILLION Kookaburras should they have wholesale clients or customers interested in ordering from the back catalogue (they would have to do so in large enough quantities to warrant it).

This event is likely to put some pressure on the premiums that most of the older Kookaburras have previously enjoyed as there is now a risk of their rarity being reduced.

It's not the only time we've seen this happen, Perth Mint has reminted other various years at times (I assume after having large enough orders placed by wholesale clients), for example I am of the understanding that they were reminting 2007 Kookaburras in 2009 and 2004 Kookaburras in 2010. Note the date on the following box:

Further to the above evidence a user on Silver Stackers took note of the production numbers prior to the update in 2011 and it seems that all years that didn't have the limit had extras minted up to October 2011 from when they'd last updated the count form (possibly 12 months prior).

The Perth Mint also took the liberty of reminting Series 2 Lunar 1oz bullion coins when they didn't sell out in their release year, although they've made it perfectly clear that Series 1 Lunar coins are closed off regardless of the fact that many weren't minted to their limits.

If you are interested in buying some of the 1992 1oz Kookaburras, freshly minted, in round capsules, then you can purchase them at Bullion Baron's site sponsor Bullion Money.

Click this link or the image below to go to to the 1992 1oz Silver Kookaburra product page:

Perth Mint 1992 1oz Silver Kookaburra

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  1. Hallo Baron with a open mouth i read this article it seems like not one coin will be safe with the pert mint boys ... untill they squeese al mintages to the full extend a 20 year old kooka why they want to do that for the big demand ?? after the privy dragon release they thought hey so litlle resistence lets go the full monty next step lunar 1 wait and see
    its a big shame what they are doing to collectors all over the world its low life its a scam saluti

  2. The Series 1 Lunars have been confirmed as closed, where the Kookaburra 1oz coins have been left open to mint until they reach their limits.

    It's unfortunate for Kookaburra collectors that they've started minting these again and I can understand their anger, but it's also an opportunity for bullion buyers... I think these are a better buy than the Koala which has an open mintage and with the 2012 Lunar and Kook sold out this provides a good opportunity for 1oz coin buyers...

  3. BB: Thanks for this post. So the reason for specifically re-minting the 1992 coins has to do with catalogue orders received by Perth? It sure does seem like an odd practice, but quite frankly I do not believe that premiums for Kooks over time will hold up as much as they do for the Lunar coins, or for Pandas. To me, only the 1990 coin premium seems to hold, and maybe the 2011 and 2012 since they can't make anymore.

  4. I'm not sure about this specific instance, but pretty sure in the past they have reminted them mainly for European wholesale customers.

    I think Lunars will always hold a much higher value due to their nature as a limited set (e.g. to 12 coins per series) whereas the Kookaburra/Koala are just ongoing. I agree the sold out Kookaburras are now the coins to be buying (if you can get them for a good price) as the others will likely take years to sellout on their full mintages.