Perth Mint Resumes Bullion Sales Jan. 12

The Western Australian state-owned http://www.perthmint.com.au/" target="_blank" rel="nofollow">Perth Mint resumed taking orders for a limited range of its gold and silver bullion coins as of Jan. 12.

Late in 2008 the mint advised clients that an unprecedented worldwide demand had forced it to close its forward order book for all of its gold and silver bullion with the exception of the 1 ounce gold Kangaroo. Orders for regular numismatic items were unaffected.

The decision was temporary and based solely on the mint's production capacity being 100 percent utilized in trying to fill existing orders. In its media release the mint made it clear that there was no question about it having any shortage of gold and silver.

The mint is now supplying a streamlined range that includes its 1 ounce and 1 kg Koala, Kookaburra and Lunar silver bullion coins, as well as the 1 ounce Lunar gold and 1 ounce Kangaroo gold coins. This approach is expected to allow the mint to increase production volumes from their existing capacity. If, however, dealer demand continues to outstrip product availability, coins will become subject to an allocation process.

The availability of fractional and other size variations in the mint's bullion coin range will be subject to an ongoing review. Presumably, this accounts for the absence of the mint's 10 kg gold and silver bullion issues from this year's Lunar series referred to in the January World Coin News lunar coin issue story.
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