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Royal Bank Aus Selling 5850 Gold Coins

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SFDukie's Avatar
United States
980 Posts
 Posted 09/24/2005  02:58 am Show Profile   Bookmark this topic Add SFDukie to your friends list Get a Link to this Message Number of Subscribers
http://dailytelegraph.news.com.au/s...1024,00.html
Wow. Adeleide pounds sound and look intriguing.
Don
Edited by rggoodie
12/26/2005 8:52 pm
Pillar of the Community
lim118's Avatar
Australia
1529 Posts
 Posted 09/24/2005  03:51 am  Show Profile   Bookmark this reply Add lim118 to your friends list Get a Link to this Reply
This move by the Reserve Bank of Australia (RBA) is certainly creating quite a stir within the numismatic circles downunder.

Most,if not all the coins, will be beyond the reach of the average collector...eg the Adelaide pound type 1 in UNC has a CV of AUD$250,000 and type 2 has a CV of AUD$60,000.

I know of a couple of investors who are worried this sell off by the RBA may dilute their investments.

To put it in it's right perspective,it would be like your monetary authority releasing onto the market a few rolls of very rare gold coins.

Pillar of the Community
SFDukie's Avatar
United States
980 Posts
 Posted 09/25/2005  2:39 pm  Show Profile   Bookmark this reply Add SFDukie to your friends list Get a Link to this Reply
Lim,
One would think that the RBA would get more revenue if they sold these gradually, rather than all at once.
Lim, in the US the General Services Adminitration sold many Moragn Silver Dollars that had been sitting in storage, forgotten for years in the 1970s. Vastly changed the populations of Carson City silver dollars. But the RBA sale sounds as if it may be higher value coins...I understand the concern of someone who has a large investment that may be affected. Is there any discussion that some of this hoard shoud be available for a museum for the public?
Don
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lim118's Avatar
Australia
1529 Posts
 Posted 09/25/2005  6:48 pm  Show Profile   Bookmark this reply Add lim118 to your friends list Get a Link to this Reply
Hi Don....

We do not know what is in this hoard other than coins kept by the RBA. As for as we can make out, it is not just gold coins but pre 1955 predecimal proofs as well. A great receipe for sepculations to run rife.

We are led to believe "some" of the top coins would be given to our national museum.
Pillar of the Community
lim118's Avatar
Australia
1529 Posts
 Posted 09/27/2005  5:27 pm  Show Profile   Bookmark this reply Add lim118 to your friends list Get a Link to this Reply
Just an update.

This matter was the centre of discussion in the live chat room of the Aussie Coins Tokens & Banknotes Forum, and will continue to be until the auction.

Catalogue listing all coins in the sellout is expected out in early November. Date set for the auction is the 29th & 30th November.

Though we do not have the full listings yet, it is rumoured that a 1930 Penny will be on auction. The 1930 penny is the holy grail of all Aussie collectors, very similar to what the 1933 gold double eagle is to US collectors.
New Member
Cruzi's Avatar
Australia
45 Posts
 Posted 01/11/2006  3:23 pm  Show Profile   Bookmark this reply Add Cruzi to your friends list Get a Link to this Reply
The sale came and went, lots of interest, lots of high prices and very few bargins.

Quite a worthwhile experience.

Pillar of the Community
Australia
853 Posts
 Posted 01/11/2006  7:28 pm  Show Profile   Bookmark this reply Add Bigfella to your friends list Get a Link to this Reply
Hi there Cruzi...long time no hear.
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