Saturday, July 5, 2014

Perth Mint 1oz Australian Wedge-Tailed Silver Eagle

If you are looking to purchase any Silver at the moment, I'd highly recommend taking a look at the 2014 1oz Silver Australian Wedge-Tailed Eagle Coins. They are minted by Perth Mint and being sold in Australia exclusively by Ainslie Bullion or in the United States by GovMint.

One of America’s most respected coin sculptor-engravers, John Mercanti, produced the image of the Wedge-tailed Eagle for the coins and it looks fantastic:

The Perth Mint has produced some modern numismatic versions of this coin which have proved highly successful as I covered on another blog I write 'Silver Lunar':

Australian Wedge-Tailed Eagle 1oz Silver Proof & 5oz High Relief Silver Proof Coins

There are only 50,000 of these bullion coins being minted, with 45,000 going to GovMint and 5,000 to Ainslie Bullion. Given the low mintage and appealing design, I think once sold out these will achieve a premium over their purchase price. Most 1oz bullion coins come with a much higher mintage, such as 300,000 for the Perth Mint Lunar Series or 1,000,000 for the Royal Canadian Mint Wildlife Series.

I'm not sure whether this coin will be the start of a series (or a one-off), but the GovMint marketing page indicates it could be: "First-year issues are often among the most sought-after coins in any series."

Update: According to World Mint News Blog, this will be an ongoing series using the same design, similar to the American Silver Eagle series: "My contact at the Perth Mint was also able to confirm that the Australian Wedge Tailed Eagle will be an ongoing series, with the same design used for next year."

As far as I can tell they can only be bought from GovMint encapsulated by PCGS (not in standard Perth Mint bullion packaging). The cheapest version is not too pricey at US$29.95 (comes encapsulated and hand-signed by John Mercanti), but doesn't make for very easy stacking if you are buying in bulk. Product page is here. They also have graded MS69 & MS70 coins available at higher prices.

Ainslie is selling them in standard Perth Mint packaging and is already limiting purchases to 100 coins per customer, I'm expecting them to sell out in the very near future. They are selling them as a bullion coin, current pricing puts them around A$7 over spot (currently A$29.30) per coin (if buying a box). Product pages are here (single coin, roll of 20 or box of 100). UPDATE: Box of 100 coins is no longer listed on the Ainslie Bullion website, suspect won't be long until completely sold out.

My guess is they will achieve a premium of $5+ over purchase price in Australia once sold out, which I don't expect to take long. I've got a box on order.

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