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 Replies: 22 / Views: 28,489 |
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Valued Member
195 Posts |
Sap or anyone,who actually strikes the Maquarie Mint coins for Downies?
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Moderator
 Australia
16830 Posts |
Like I said, Macquarie Mint buys coins from any old mint, anywhere in the world - mostly Perth Mint, in my experience, though from other mints too. Given the link between Downies and Macquarie Mint, I suspect Macquarie's stock comes from stuff Downies doesn't sell quickly enough. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
195 Posts |
So there is no real "mint" as such
"Macquarie Mint is just a name Downies use to make buyers think its official releases from an issuing authority" is what I always thought they were
I am yet to be convinced Downies/Macquarie buy coins from any old mint anywhere in the world as suggested Sap
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Valued Member
Australia
151 Posts |
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New Member
Australia
2 Posts |
The Macquarie Mint $10 coin for $10 is a scam. After October 31st 2013 the coin has absolutely no value. In other words, they are selling these crappy souvenirs for $10 and promise to refund the $10 if you return the coin by the above date. They are hoping that a majority of the suckers dont return the coin.This coin is also only 50% silver content (according to the website)
Pity the poor people who fall for this one.
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Valued Member
Australia
85 Posts |
What do you mean crustykaz?
By the way I have no idea about Macquarie Mint and the $10 scam mentioned ?
Whats going on there mate?
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Moderator
Australia
16830 Posts |
The Nauru $10 coin scam crustykaz is talking about is discussed here. Like all Macquarie Mint advertising, the Nauru coins have been advertised in newspapers, magazines, everywhere except places where actual coin collectors are likely to look for coins (like in CAB Magazine, for instance). Which tells you something about Macquarie Mint's target market. They're not interested in attracting actual coin collectors, but people on the fringes of the hobby - interested newbie speculator/investors and friends/relatives of coin collectors. Quote:
...After October 31st 2013 the coin has absolutely no value... Well, I wouldn't go quite that far. Assuming they're not lying about the silver content too, there's $6 worth of silver in those "coins". Just probably not worth the $10 people paid. And, given the non-legal-tender status, they're not really "coins" - "fantasies" would be the correct terminology. With any luck, Nauru will take Macquarie Mint to court and get them shut down. If that happened, I'd want one of these "coins", as a souvenir of the controversy. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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New Member
Australia
1 Posts |
I have contacted the Australian Government Treasury (15/09/11), and those guys had confirmed to me that The $10 Bank of Nauru coin is a genuine 0.500 numismatic silver coin, struck specifically at the order of The Bank of Nauru. And, as you would probably know, Nauru's official currency is The Aussie Dollar. They didn't tell me *who* exactly struck the coins, but The Treasury are 'happy' with the "Macquarie Mint" $10 offer, and will accept the coin as Australian legal tender, under the Currency Act 1965. If you would like to verify my information, contact the Australian Govt. Treasury - http://www.treasury.gov.au/content/...ontentID=326 |
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Moderator
 United States
6563 Posts |
Quote:
and will accept the coin as Australian legal tender Sure maybe if you go to the front counter at the mint but no one is going to take this coin for payment anywhere else even if it were legal tender. |
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Moderator
Australia
16830 Posts |
Quote:
The Treasury are 'happy' with the "Macquarie Mint" $10 offer, and will accept the coin as Australian legal tender, under the Currency Act 1965. Unfortunately, what the Australian Treasury does not know is that the Bank of Nauru has never been given the authority from the Nauruan government to issue coinage in the name of Nauru. The coins are not legal tender in Nauru, and therefore not legal tender anywhere else either. I can forward to you the email I received from the Secretary for Justice and Border Control for the Republic of Nauru confirming this, if you like. Whoever it is that's going around claiming to represent "the Bank of Nauru" and granting authority to issue Nauruan coinage, is lying. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
Australia
85 Posts |
My understanding about Macquarie Mint is Downies getting Perth Mint to strike coins for them Not legal tender or collectable IMHO |
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Valued Member
Australia
65 Posts |
Quote:
Whoever it is that's going around claiming to represent "the Bank of Nauru" and granting authority to issue Nauruan coinage, is lying. Ummm, wouldn't that be Downies? |
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Pillar of the Community
Australia
1005 Posts |
I read it as 'Someone is telling Downies that they are able to grant Downies permission, when in fact that person does not have authority to grant that permission'
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Valued Member
Australia
65 Posts |
Ah yeah - I see, could be read that way.
I got one of these in the mail today. Not addressed to me personally - just to the 'discerning householder'. It was in a tear open envelope like PIN numbers used to come in.
Screamed scam to me but people must buy them.
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Valued Member
Australia
85 Posts |
If address is Abbotsford Vic 3067 its a Downies mailout
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Replies: 22 / Views: 28,489 |
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First Page
Posted 04/04/2011 10:07 am
