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Replies: 8 / Views: 4,525 |
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New Member
Canada
27 Posts |
I'm a little bit confused here... Does someone can explain to me the difference between the ROYAL AUSTRALIAN MINT and THE Perth Mint AUSTRALIA ? *** Moved by Staff to a more appropriate forum. ***
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Bedrock of the Community
Australia
21788 Posts |
Two completely different types of Mints. The Perth Mint does NOT produce any of Australia's officially issued coins for circulation. That is a Government function. The RAM is the equivalent of the RCM, the U.S. Mint, or The Royal Mint; they are all government owned. Their main purpose is to produce coins for official issued large scale circulation. All of these Mints produce collector coins as well, for additional business. The Perth Mint is a commercially owned mint. It's primary function has nothing to do with coins. It is Australia's primary refiner for about 95% of Australia's mined gold. Most of the Mint's business is in bullion bars, and typically produces about 250 tonnes of refined gold each year. Oddly enough, their gold finishing refinery is underneath Perth International Airport. Probably for security reasons. They have, as almost everybody knows, a very healthy business in the production of very high quality bullion coins. They also produce PM collector coins of other Countries than Australia. Most of these PM coins have NCLT status. They take great care that the quality of their production in PM coins is maintained at World's highest standards, because they have built for themselves a reputation that depends on it.
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Pillar of the Community
Canada
2019 Posts |
Thanks Sel_69 I didn't know that and I thought there were one of the same.
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Valued Member
Canada
147 Posts |
isn't Perth Mint technically a government mint as well? it is owned by the government of Western Australia. Before that it was a branch mint of The Royal Mint just like RCM here.
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New Member
 Canada
27 Posts |
Thanks sel_69l for the information.
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Pillar of the Community
Australia
2180 Posts |
moejaber I think the state government of Western Australia has a share in it.
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Bedrock of the Community
Australia
21788 Posts |
Actually, Mr T is right. I have visited the Perth Mint on a couple of occasions; that part of the establishment that is in Hay Street, Perth City. There is also a retail outlet for their bullion collector coins at this site, as well as some interesting museum things to see. Also on site is the World's largest gold coin on display: a ONE TONNE million dollar face value monster. It is actually available for sale, if you are able to stump up enough money to buy it! It is about a metre in diameter, and about 4 inches thick. You can actually get to rub your dirty hands all over it! You may wish to Google Maps - terrestrial photos to have a look at the building. Quite impressive. I would think that it is under some sort of National Trust Order. It is in this location that the collector bullion coins are produced, and are available for sale over the counter. The industrial gold refining operations are underground, at Perth Airport, some kilometres away.
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Moderator
 Australia
16850 Posts |
The Western Australian government does not "have a share in" the Perth Mint, it owns it, entirely. Perth Mint is actually a trading name for Gold Corporation, a WA state government-owned corporation. In this sense, Perth Mint is very similar to the German mints, which are all owned and operated by the state governments there rather than the federal government. Gold Corporation, trading as the Perth Mint, owns a federal government monopoly on legal tender bullion coin production, which was granted it upon its foundation in 1987. Perth Mint produces some collector coins too. The "bullion coins" produced by the RAM (like the silver "skippies") are all collector-only coins; the RAM, on the other hand, is the only mint to produce circulation coinage in Australia. Only in the production of collector coins are the two Australian mints are in direct competition with each other. There have been numerous historical events where both the RAM and Perth have produced rival commemorative coins. For example, for the sesquicentenary of the Eureka Stockade in 2004, Perth produced this coin, while the RAM produced this one.
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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Pillar of the Community
Australia
552 Posts |
The Perth Mint, though it produces some very nice coins, is private and out for profiteering Then again, these days, so is the RAM Who wins.....RAM + Perth Mint.......and ebayWho loses (in the pocket).....coin collectors...and those who purchased from RAM or Perth MintYes I know caviar + canberra coins from ram exceptions but when did this last happpen? Vote with not purchasing
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Replies: 8 / Views: 4,525 |
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