The Big Noodle: Australian 1 Dollar Coins - Page 21

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Author	Replies: 308 / Views: 30,169	Page: of 21

crab eater Pillar of the Community Australia 580 Posts	Posted 02/25/2024 02:39 am Thanks once more for your valuable input to answer my novice questions. Report this Post to the Staff
SallyG Valued Member Australia 319 Posts	Posted 02/25/2024 06:34 am I'm a bit confused. The RAM apparently stopped selling bags of coins through their website at face value for tax reasons or something like that. However they can swap (sell) them at face value at 'pop up' venues and that is different? I'm also confused about how/why they can get away with the misleading information published on their website relating to the number of coins minted for circulation. Is there a difference between coins minted for circulation (released at face value through banks) and those bagged up and released at 'pop up' venues or to selected ebay sellers? I can't see anyone buying coins from sellers on ebay to use them as circulating coins. Or am I missing something? Report this Post to the Staff
squaremealroundplate Valued Member Australia 174 Posts	Posted 02/25/2024 06:40 am thanks gens coins and others. The question for me now is - how many 2021 UNC mint sets did the RAM produce ( I only have the 2020 30th edition copy of the RENNIKS at the moment ) 80,000 - 100,000 ? It seems reasonable now to assume that the RAM's mintage figures for the 2021 $1 MoR's cannot only be 160,000 coins. Many - too many - people paid up to around $95 for 1 x 2021 $1 MoR's Your thoughts please, and the final mintage figures for the 2021 UNC sets. I remember that late 2005 it was thought by most that there wouldn't be any 2005 $1 MoR's minted/available. The very first auction on ebay at the end of February 2006 for 1 x 2005 $1 MoR's got $301. I have a copy of this ebay auction. I was stunned !! The next few auctions after that one didn't get $301 per coin but got a very good return for a 2005 $1 MoR's.,,$100 or so plus. I don't know if it happens now, but In ebay's long passed glory days, the seller was allowed to send 2nd chance offers. But not long after, one seller listed the 2005 $1 MoR's RAM roll. He or she would have easily got $1000 plus for 1 x 2005 $1 RAM roll had they not foolishly shown 3 x 2005 $1 RAM rolls in the one photo...... Most of us here are savvy enough to have listed a photo of only 1 x 2005 $1 MoR's RAM roll with an emphasis on rarity, etc, in the description. Report this Post to the Staff
jens coins Valued Member Australia 170 Posts	Posted 02/25/2024 06:56 am The RAM annaul report for 2021 - 2022 has: $1 Standard Design - JC Effigy 2021 Aluminium Bronze 0.024M minted You have to look at the annual reports over several years to get the final mintage of each coin. the 2020 - 2021 annual report has: 1 Standard Design - JC Effigy 2021 Aluminium Bronze 0.100M minted Report this Post to the Staff
redlock Pillar of the Community Germany 983 Posts	Posted 02/25/2024 1:00 pm Quote: The RAM apparently stopped selling bags of coins through their website at face value for tax reasons or something like that. However they can swap (sell) them at face value at 'pop up' venues and that is different? Selling bags of coins through website and then sending them to you through some mailservice: That's pure and simple selling/buying an item. VAT (or however you Aussies call it) must be paid. Swapping in person at a ''pop up'' event: You are just exchanging cash in person. Five One Dollar coins for a $5 banknote (or whatever you can buy at the event. I think you get my drift). Hence, no VAT because you are not buying, just exchanging, 1:1. Remember, you cannot pay for the coins with a debit or credit card at such an event because then you are buying, the RAM is selling. Then you would have to pay VAT. Edited by redlock 02/25/2024 1:06 pm Report this Post to the Staff
SallyG Valued Member Australia 319 Posts	Posted 02/25/2024 5:47 pm Hi Redlock, thanks for that explanation. Makes it sound like the RAM is being dodgy and dealing in cash to avoid paying tax. Might be stuffed if we become a cashless society? Report this Post to the Staff
redlock Pillar of the Community Germany 983 Posts	Posted 02/26/2024 01:36 am Quote: Makes it sound like the RAM is being dodgy and dealing in cash to avoid paying tax. Exactly. Report this Post to the Staff
squaremealroundplate Valued Member Australia 174 Posts	Posted 02/26/2024 09:51 am thanks, gens coins. The RAM's FINAL production figures for 2022 won't be avaiable until the 2023/2024 Annual Report is released this year, usually around November. The cutoff date for the RAM's production figures is 30th June of any year. So the production for some 2022 coins continues for a few months after the 30th June cutoff date until the production of the 2023 coins start . I recently read that the RAM corrected a few of their mintage figures dating back to 2018. I have just again checked the RAM's " uncirculated coins production " section which ( still ) states that 160,000 2021 $1 MoR's were minted. The lastest entry there includes production figures of all denominations up to 2022. I'll check if there is an updated version which includes all the mintage figures up to 2023 and put in my favourites. I'm very interested in the figures you gave from the RAM's 2021/2022 Annual report for :- $1 Standard Design - JC Effigy 2021 Aluminium Bronze 0.024 M mnted Yet the figures from the RAM's 2020/2021 Annual Report state that there were 0.100 M minted? It appears likely that from the 1st of July 2021 the RAM continued minting an additional 0.024M 2021 $1 MOR's coins ( after the 30th June 2021 cutoff date ) and the additional 0.024 M coins minted was all that was included in the RAM's 2021/2022 Annual Report. Yet, there was supposed to have been 160,000 minted ? MMM I'm hopeful that the RAM fesses up and tells us the REAL final production figure for the 2021 $1 MoR's is far more than only 160,000. Report this Post to the Staff
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