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 Replies: 9 / Views: 2,273 |
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Pillar of the Community
United States
1261 Posts |
I am updating my collection inventory list. At one time I collected 1 oz. Kookaburras and Mexican Libertads. The dates for the Kooks are 1990-2007 (I have one of each). The dates for the Libertads are throughout the 80's, 90's and 00's. What's the best way to determine the value for these coins? Is there an on-line price guide or should I just do ebay searches for each coin? Hopefully the value is greater than just the bullion value. Thanks for your help. |
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Pillar of the Community
1007 Posts |
Someone should move this to bullion forum. You'd get more help over there.
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Pillar of the Community
Canada
789 Posts |
@chesterb.. Since the Perth Mint started re-minting the older Kookaburra to their mintages, the market is suddenly flood with a lot of old Koo all in excellent conditions so their price dropped, and some dropped to just bullion values. ebay completed listings and some big dealers like APMEX's price could be used for reference. If you take them to a local coin stores, I think they will give you less than those prices. Good luck. |
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Pillar of the Community
 United States
1261 Posts |
Shopaholic,
I want to make sure I understand your post. Are you saying that the mint went back and reminted coins? For example, I have a 1991 Kook. Are you saying they recently started minting the same coin with the date 1991 on it? That sounds outrageous if it's true.
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Pillar of the Community
Australia
1040 Posts |
I've given up on the Perth mints retailing exploits,if you can't buy at Dealers discount then,IMO,you will be lucky to live long enough to make a profit. This seems a good buy for 100 Kookas,$4100 with a high Oz $.,surely silver can make US$40 an ounce again. http://www.ebay.com/itm/RARE-MINT-S...em27ceb57f7fEdited by Basil
01/15/2013 5:08 pm
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Pillar of the Community
United States
1261 Posts |
I read the Perth policy on mintage restrikes and it sounds like they had that ability but decided not to do to collector feedback. So the mintage did not change for coins minted from 1990 to 2012. Does that sound right?
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Pillar of the Community
Canada
789 Posts |
@chesterb: The latest I've heard is that sales at PM slump, many of their coins can't even hold the release price at secondary market, so they decided to stop restriking/reminting their coins. Last November, they first stopped reminting their NCLT and declared the total mintage for NCLT coins released on and before 2011. They also introduced a new mintage policy where each coin have a mintage for a particular presentation as well as an overall maximum mintage. That is for NCLT. There is some link from Perth Mint's official blog with more information: http://blog.perthmint.com.au/2012/1...hat-we-mean/http://blog.perthmint.com.au/2012/1...nt-declares/For bullion like Kook and Koala, a few days ago, PM have finally decided to stop reminting the older bullions (Kook and Koala) and declared the total mintage. Here is a link about this in their official blog: http://www.perthmintbullion.com/blo..._Update.aspxSo as a summary, yes, they have stopped restriking/reminting their older coin. But I would say the damage is done and it might take a long time for them to save their reputation. Bad news always travel faster than the good ones, and the older Kooks being sold at a low price at many big retailers is a constant reminder of PM's wrong doing. |
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Pillar of the Community
Canada
789 Posts |
@chesterb: You asked "So the mintage did not change for coins minted from 1990 to 2012. Does that sound right?" The answer is the mintage did increased because of the reminting/restriking. Here is the mintage PM released before reminting (for 1990 to 1994 as example):  And here is the mintage after reminting:  If you compare the mintage of 1oz (I highlighted them with red dot), you can see the increase. That is why price slump, people lost confidence and collectors become so angry. |
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Pillar of the Community
United States
1261 Posts |
Thank you Shopaholic. That was very informative. That is outrageous for the Perth Mint to restrike these dates. Greed! |
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Pillar of the Community
Canada
1528 Posts |
Hopefully this would stop other mint from doing the same thing. The only way to stop these mints from reminting stuff is public (collectors) anger.
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Replies: 9 / Views: 2,273 |
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Posted 11/30/2012 10:08 pm
