Tuesday, September 4, 2012

Perth Mint Gates Blockaded: Lunar Proof Release

For a writeup on yesterdays bullion Lunar Coin launch checkout yesterday's post and this post on Silver Lunar for more details on the Proof coin release (in addition to those I listed in the Proof coin post a 1/2oz Proof Silver coin was also released with 8,000 coin mintage).

I headed over to the Perth Mint again this morning for the proof release (got to the gate around 8.45am) and was amused to see the coin store owner from across the street with a group of around 10 people some of which I assume may have been friends and family (or possibly hired goons ;) ?) blocking up the gates in order to secure proof coins (the coin store owner who is likely to put those he buys in his window for an inflated price). 

Apparently many in the group had been there since before 8am. The group blockading the gate included several children who were also probably being used to secure proof coins given the strict (per person) coin limits.

Is all fair in love and securing Proof Lunar coins?

Coin Store Owner & Family/Friends (left in pic) Blockade Perth Mint Gates
I was able to order a 3-Coin Silver Proof set after missing out on the website last night where they were gone within minutes. I didn't bother trying for the 1oz Silver Proof coin.

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BB.

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7 comments:

  1. Great write-up, BB! Must have been fun to be there.

    If you have a chance, please let me know if you think snakes are the 2nd most popular Lunar animal after dragons. An American dealer told me that in Germany that is the case. Well, Germany has a big coin market and lots of wealthy collectors, so that must have a substantial impact. And the 2001 snakes are doing quite well 12 years later. What do you think?

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    1. Well I can't predict the future Louis, but from the first series my observations would indicate Snake is one of the most popular coins and personally I prefer the new Silver design over the 2001 coin. So I do think the snakes will do well (not all the numismatic releases will do well though, stick with 3 coin set, 1oz proof or bullion coins IMO)...

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  2. Yeah really? My dragons (original bullion (non-mint mark), ANDA show, 5oz (no colour), 1oz proof and set of 3 proof (1/2, 1, 2oz), and kilo too - if I was to sell them today, collectively I'd be doing so at a small loss.

    My idea of popular translates to marginal increase in resale.

    P/S: Bought them at PM's official release price.

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    1. Hey anon, I recently suggested the 5oz proof was probably not a good buy here:

      http://www.silverlunar.com/2012/04/5oz-proof-silver-dragon-july-high.html

      IMO safest to stick with 3 coin proof set, 1oz proof and bullion coins only (avoid 5oz proof, kilo proof, ANDA coins now they've ruined them with more cities).

      As another blogger has been pointing out in his posts, you are best sticking to core proof coins:

      http://doomberg1.blogspot.com.au/2012/09/2013-year-of-snake-proof-coins.html

      Either that or stick to bullion and wait for spot price rises to increase value of your coins.

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  3. Thanks, BB. I agree with you and Doomberg.

    I do think the 2012 dragons of legend 5 ox proof special edition with 1,000 mintage should do decently too. The 5 oz proof regular dragon probably would be doing better if Perth had sold the majority of the coins rather than New York Mint. But many people forget that the coin was NY Mint's idea.

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  4. Am I right in thinking this may be a fake?

    http://www.ebay.com.au/itm/2013-Perth-Mint-1-kg-kilo-Lunar-Snake-silver-bullion-coin-oz-1kg-Perth-Mint-/290768682851?pt=AU_Bullion&hash=item43b329ff63

    Perth Mint is selling this for $1,890 and this is advertised for considerably less. Am I missing something!?

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    1. Anon, that seller on eBay is legitimate (otherwise known as Bullion Bourse and I've had a few great transactions with them), but you are mixing the proof and bullion coins. The eBay advert is for a bullion kilo coin and the coin Perth Mint sells for $1890 is the proof.

      If it's the bullion coin you are after then it's cheaper again on their website (as no eBay fees to account for):

      http://bullionbourse.com/index.htm#ecwid:mode=product&product=14565734

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