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 Replies: 11 / Views: 1,797 |
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Valued Member
Australia
491 Posts |
Any help is very welcome. Definitives can be circulated coin currency useable to buy things? Commemoratives can be circulated coin currency useable to buy things and also currency that you can not by things with? I do understand the basic meaning of what comms and defins mean. So we can not order coins from the Mint that are useable to buy things? New releases etc? But we can buy from the Mint coins that can not be used for buying things! Silver is say $30 per 1oz but a 1oz coin costs say $100. Why? kg5  Edited by kg5
02/21/2013 04:42 am
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Pillar of the Community
Australia
1607 Posts |
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Silver is say $30 per 1oz but a 1oz coin costs say $100. Why? Many have asked this & the only answer I can give is that it's purely profit making,the Mint are a business & the bottom line is all important like any business. |
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Pillar of the Community
Canada
1005 Posts |
Lumber is say $1.00 a board foot but a bookcase costs $299.00
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New Member
Australia
22 Posts |
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So we can not order coins from the Mint that are useable to buy things? New releases etc? kg5, are you saying that new releases bought from the mint can't be used for purchasing things? That should not be the case as long as it's not bullion. So, you could crack open a proof set and buy goods with the coins without incident. |
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Valued Member
 Australia
491 Posts |
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kg5, are you saying that new releases bought from the mint can't be used for purchasing things? I have not been clear enough. My question is: Can I order say 100 of each from the Mint being every 50c $1 and $2 coin that is made for circulation this year be it a comm or defin? I have been able to see that coins not for circulation can be ordered from the Mint. These quotes are about the 2013 Centenary of Canberra 20c coin have made me think that I can not order say 100 of these 20c coins. Plus I can not find a way to order them online from the Australian Mint or special issue. Can only find the standard set for the year of ? Quote:I got a few of these on ebay, By the time they show up in my change here in the West they will be brutilised. Quote:
I have found ONE only, on the opposite side of Australia, about 3 weeks ago.
It seems to me that commemorative coins are issued as soon as they are produced, definitive coins are issued from older stock in response to demand. That older stock may have built up and could delay the release of current year definitive coins, sometimes by more that a full year. |
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Moderator
 Australia
16829 Posts |
No, you personally cannot order bulk quantities of circulation coinage directly from the Mint. All of the circulation coin production from the Mint is "purchased" by the Treasury and Treasury alone. Treasury then distributes the coins to the commercial banks, via the Reserve Bank. It's only from the commercial banks that the general public can first get their hands on the coins, and the banks don't care enough about coin collectors to try to give you specific types of coins. To a bank, one 20 cent coin is just as good as any other. The only things the general public can buy from the Mint are the things in the Mint gift shop: mint sets, proof sets, NCLT coins, and so forth. These coins are legal tender and can indeed be used to "purchase things", but you'd be silly to do so, because they cost a lot more than face value to purchase. Quote:
...Definitives... In coin collecting, we don't call the "normal" circulation designs "definitives". That's stamp collecting terminology which we don't use around here.  Quote:
Silver is say $30 per 1oz but a 1oz coin costs say $100. Why? Because there are enough "gullible fools" who pay that much for collector versions of bullion coins. Registered jewellers and bullion dealers can buy bulk quantities of bullion coins direct from the Perth Mint at or near-at bullion price (the RAM does not produce bulk quantity bullion coinage), but again, you as a private individual can only order the collector versions, at inflated prices, from the Perth Mint gift shop. If you want to buy bullion coins at bullion prices, you have to go to a bullion dealer. 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
105 Posts |
The best advice I can give is be friendly with your local bank tellers, let them know what you are after and see if they will contact you if they get any new releases.
Mine are terrific girls who are watching out for the new centenary bags of 20 cents and then they will ring me if and when they get any.
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Valued Member
Australia
216 Posts |
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No, you personally cannot order bulk quantities of circulation coinage directly from the Mint Hmmm.. interesting difference between RAM and US Mint then cause over there you can buy bulk circulating coins. (rolls, bags, boxes) I wonder why?  I mean ultimately it would not make any difference to them. |
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Valued Member
Australia
491 Posts |
Thank you very much everyone for sharing with a newbie. I am starting to get a bit of a feel for what and how to start collecting. Boy! Am I glad I joined CCF before I got into collecting. To think I was just going to buy some coins with totally no idea. Some special high lights from the comments that grabbed me! Quote: you as a private individual can only order the collector versions, at inflated prices, from the Perth Mint gift shop. If you want to buy bullion coins at bullion prices, you have to go to a bullion dealer. Quote:
The best advice I can give is be friendly with your local bank tellers, let them know what you are after and see if they will contact you if they get any new releases.
Mine are terrific girls who are watching out for the new centenary bags of 20 cents and then they will ring me if and when they get any. Quote:
Hmmm.. interesting difference between RAM and US Mint then cause over there you can buy bulk circulating coins. (rolls, bags, boxes)
I wonder why? I mean ultimately it would not make any difference to them. Quote:
No, you personally cannot order bulk quantities of circulation coinage directly from the Mint. All of the circulation coin production from the Mint is "purchased" by the Treasury and Treasury alone. Treasury then distributes the coins to the commercial banks, via the Reserve Bank. |
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Valued Member
Australia
491 Posts |
Trying not to start another thread.
Can any one share what Bullion Dealer they use or is it a personal thing that only experience can bring an answer to this question.
Silver coins are big time on my list to collect! Especially if I can do deals.
My 2nd area is to get coins from the banks in bulk and pick out the best of them and hope for some special releases. Plus to look for flaws in the making of the coins but I do not think finding flaws would happen to offen.
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Valued Member
Australia
491 Posts |
Thank you so much Sap!
I have answered my own question.
As the saying go in Happy Days!
I've Found My Thrills!
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Formerly nancyc
Australia
5385 Posts |
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My 2nd area is to get coins from the banks in bulk and pick out the best of them and hope for some special releases. Plus to look for flaws in the making of the coins but I do not think finding flaws would happen to offen. That's called noodling!  Many of us here noodle coins and you'd be surprised what you're likely to find. Good Luck, and please report back with your finds.  life is a mystery to be lived not a problem to be solved
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Replies: 11 / Views: 1,797 |
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Posted 02/21/2013 06:21 am
