16 December 2008

Perth Mint to Resume Taking Bullion Coin Orders

11 December 2008 Media Release

The Perth Mint has announced that it will resume taking orders for a popular range of gold and silver bullion coins from 12 January 2009.

The announcement follows an earlier Perth Mint communication advising clients that as a result of unprecedented worldwide demand, it had been forced to close its new order book for gold and silver bullion coins, except its 1oz Kangaroo gold bullion coin. Orders for popular numismatic products and Depository/Certificate products were, and continue to be, unaffected.

Due to its reputation and extensive connections in the bullion market, the Western Australian State-owned Mint continues to have no problem sourcing wholesale gold and silver. The decision to temporarily suspend taking new orders for gold and silver bullion coins was purely a result of the 100 per cent utilisation of its production capacity.

As of 12 January, the Mint will be resuming orders for a streamlined range of 1oz and 1kg Australian Koala, Australian Kookaburra and Australian Lunar silver bullion coins, as well as 1oz Lunar gold bullion coins.

By limiting the range to these coins and the 1oz Kangaroo gold bullion coin, the Mint expects to be able to increase production volumes from existing production capacity.

Where dealer demand continues to outstrip product availability, coins will be subject to an allocation process.

The availability of fractional and other size variations from its bullion coin range will be subject to ongoing review.

The Perth Mint is committed to supplying its customers with as much product as possible and continues to make every effort to satisfy its dealer and customer requirements.

9 comments:

Anonymous said...

10oz kooks would be better than 1kg Bron. Just a thought.

Bron said...

Yes, but there is big demand for 1kg in Europe to get around taxes on bars so that's what the factory is geared up for.

Anonymous said...

I guess they buy more? 10oz would be good for our taxes, under the $500 collector threshold?

Bron said...

They buy heaps, we make tonnes of the stuff that why it is geared up for 1kg. Anway, with where silver is going it will exceed $500 - think big!

Anonymous said...

You're being watching too many Schiff youtube videos again Bron.

dark said...

is perth mint still taking orders for 1kg silver bullion bars. I dont think i could wait til 12th Jan. The price may increase by then

Bron said...

Dark,

Call the shop, I spoke to them and they are taking orders for stock they will be receiving from the refinery in January.

trevbus said...

The Perth Mint website is down, complaining that it is 'too busy'. Are PM doing website maintenance over the holidays, or maybe it is overwhelmed by the interest?

http://www.perthmint.com.au/


Server Error in '/' Application.
---------------------------------
Server Too Busy
Description: An unhandled exception occurred during the execution of the current web request. Please review the stack trace for more information about the error and where it originated in the code.

Bron said...

trevbus, I just checked it, seems to be OK. Nothing scheduled