Millions of Silver Dollar Coins Bouncing Out of the Perth Mint

Commemorative silver dollar coins are bouncing out of the Perth Mint faster than the mint can produce them because of demand from American investors.

The Perth Mint produced five million of the silver dollar coins, emblazoned with a kangaroo on them, when it first minted them in September.

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The silver dollar kangaroo coin has drawn huge interest from US investors

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But US collectors have fallen so in love with the coin, the 117-year-old Perth Mint has been forced to more than double its original run.

Perth Mint CEO Richard Hayes told financial analyst and journalist Ross Greenwood on Radio 4BC, the mint was expecting to sell more than $12 million worth over the next 12 months.

He said two-thirds of the coins made – which sell for between $20 and $21US each – make their way into the hands of American buyers.

“The United States are big buyers of silver… partly traditional, partly cultural, but the Americans have always been big buyers of silver partly because they are concerned about governments and confiscation and things going pear-shaped,” he said.

Mr Hayes said US coin collectors preferred Australian coins because they were considered exotic, unique and different.

“And it’s not Canada, which is a plus for many American collectors and because of that anything out of Australia is popular,” he said.

It’s not just the sale of the kangaroo coin which is hopping out the mint, with US buyers snapping up coins with other Australian animals on them.

“We’ve done stockman horses, we do a range of luna coins as well… certainly the wedge-tailed eagle coins we make are very popular in the states,” he said.

“Most coin collectors are looking for something new every year. To the extent you can come up with a theme that is unique and different, appealing or something that someone hasn’t done before, and you will genuinely do pretty well with it.”

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Perth Mint Puts Gold, Silver Bullion at Investors Fingertips

The Perth Mint has made investing in precious metals even easier with a secure online trading platform that offers investors the ability to buy and store with the Mint.

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The Perth Mint opens a secure online trading platform allowing investors to store metal at mint

Provided with trusted storage facilities, which are guaranteed by the Government of Western Australia, and with complete account privacy, investors are able to confidently transact with live pricing day or night, seven days a week. The platform facilitates immediate manual market orders or automatic price-sensitive trades when an investor’s preferred metal price is reached.

What is a bullion coin?

“Offering the only government guaranteed investment and storage program in the world, The Perth Mint has deep connections in the global market, and has been providing a range of precious metal coins and bars for investors for more than 100 years,” said Perth Mint Manager, Analysis and Strategy, Bron Suchecki.

“We currently store some $2.7 billion worth of precious metals for more than 21,000 clients located in 105 countries, and we anticipate that these numbers will increase dramatically with our new online system now in place,” he added.

Investors can open an online depository account via www.perthmint.com/storage/open-account.html and start trading with just $50 per transaction. For the savvy investor under the age of 18 years, regular investments can be made into an account established on their behalf by a parent or legal guardian.

“Should events cause an investor to want to take delivery of physical product, they are able to obtain a globally accepted range of coins and bars that are manufactured at our minting and refining facilities located in Perth,” Mr. Suchecki continued.

Investors are able to choose from the range of bullion storage options at The Perth Mint on www.perthmint.com/storage or purchase a variety of Australian bullion coins, minted and cast bars for delivery at www.perthmintbullion.com.

As an industry leader, The Perth Mint also operates one of the largest accredited refineries in the world, processing more than $15 billion worth of conflict-free gold and silver annually. Therefore, investors can be assured that the metals they buy are obtained from trustworthy ethical sources.

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