silversword

Special bonus: Kookaburras 1990 - 2013 (the 2014 one is in the OP)

Part 6 in the series, and now that the mere bullion is out of the way, it's time to get classy. Oh no, wait, we're off to Australia. Just kidding of course; the Perth mint certainly don't muck about when it comes to producing top quality silver coins and arguably the most famous is their long-running Kookaburra series.


2014 Kookaburra - designer unknown. Note the P Mintmark on the reverse.

Despite once being a subsidiary of Britain's Royal Mint, the Perth Mint has been fully independent to produce investment bullion since 1987 and could teach it's elderly relative (and others) a thing or two about producing coins. You'll not see too many milk spots or production damage like scratches on these little beauties. Each "kook" features crisp proof-like frosting contrasting with mirror-finished detail, and comes in it's own flush-fitting capsule as well. So, they're nicely made and well presented, but that isn't what has made it such a special collectible.

Since it's introduction in 1990 this coin has featured a new reverse design every single year. Many other coins claim to have changing designs but have sometimes re-used a previous one. Not so the Kookaburra. although no individual artist is credited with the ever-changing sculptures, each year's design is totally unique, showing the distinctive Australian bird either in flight or in it's natural habitat. The obverse has only seen one major change, with the original Raphael Maklouf portait of Queen Elizabeth II replaced by Ian Rank-Broadley's updated and familiar design in 1999.

Production has been especially limited, with maximum mintages (for the 1oz coin) of 300,000 each year, until a generous increase to 500,000 in 2010 which will likely continue for the foreseeable future. This is still dwarfed by the mintages on other popular bullion issues: Half a million Kookaburras still pales in comparison to 40m US Eagles. One year that became slightly easier to get hold of was 1992. The initial production had been some 100,000 coins short of the stated limit, and so (based on dealer demand) it was decided to re-mint up to the 300,000 maximum, which predictably caused quite a controversy amongst collectors worried about their precious premiums. Allegedly such re-minting happened for other years as well, but never exceeding the overall mintage limits, which are quite strict as it is.

In addition to the relative scarcity, the other aspect that makes these coins sought after is the ability to create interesting sets: the coins come in a range of sizes in addition to the standard 1oz, (2oz, 5oz, 10oz and 1kg, minted according to demand) and shapes. Yes thats right, different shapes. Coins are generally round, but a limited number of Kooks in the shape of a map of Australia were produced in 2012 as part of the very rare (and imaginatively named) "Australian Map Shaped Coin" range which has featured a different animal each year.

Then there are various finishes (either proof, high-relief, colourised or gilded) and a spread of years in which a limited number carried privy marks for special commemorations - in fact Perth Mint's first privy-marked coin was a 2oz proof Kookaburra. Collecting every single variation and size would be a challenge to test even the most ardent collector and the stoutest of wallets. If you think you're up to it, just try getting hold of the limited edition 2009 20th anniversary set with it's distinctive "P20" mintmark for starters.

So, apart from the contentious re-minting issue (which at least gives a few more people the chance to own a Kook), this is a truly classic coin series, one that dares to walk the line between bullion and numismatic and arguably succeeds. If £/oz is all you care about, you are catered for elsewhere frankly - this is not for you. But for those who want something a little bit special, something you can enjoy and admire, you could do a lot worse than pick up a Kook next time you are shopping.


 

Ah, you never forget your first Eagle

End of the month, and all that.

1999 Britannia, still sealed.

...............and here the fall into the hellish pit known as coin collecting has started...................

so very true...

You're right, I was suckered by the ex-VAT price; buying from STG has clearly spoiled me! Good job landing it for £54.50

If I'm thinking of the same coin, Atkinsons have them for just under £50 at present - If anything that will bring MB's average down a touch

I'm sticking to uncirculated, proofs would bankrupt me!

I actually do  but between these and a stack of Libertads bought on Friday (before spot shot upwards - very happy with that), August's budget is pretty much spent with a week to go before July is over. 

Not helping my average but have bought 4x Silver Britannias, mixed years. I blame myself for writing that 'heroes' article about them; once I discovered the different designs I got quite attached to the idea of owning some. Not quite a date run, but would be easy enough to fill in the gaps later. 

Price has been bouncing around that £12 mark all day, with only a couple of overnight dips to £11.9x which were very brief. This is one of the few occasions when silver price hasn't mirrored movements in gold pricing.

It may be miniscule, but gold is still gold. Good find MZ.

Decided I might collect the Royal Mint lunar series, and have got my 1oz Year of the Horse today.

Nothing too exciting: Intercept anti-tarnish pads. I am hoping one of these per coin tube, with a few others stuck inside my sealed storage box along with the obligatory silica gel, will keep my coins and bars minty fresh for years to come. Will be back in a decade to let you know how they do 

Are they small enough to fit in the kid of a coin tube? Or do they require cutting?

They may require some adjustment, as they are 1 inch squares. If needed I will fold them over, or if thats not possible I'll cut them to fit.

Nothing too exciting: Intercept anti-tarnish pads. I am hoping one of these per coin tube, with a few others stuck inside my sealed storage box along with the obligatory silica gel, will keep my coins and bars minty fresh for years to come. Will be back in a decade to let you know how they do 

So anyway, the Silver price monitoring thread...

Decent jump just now.

Anyone holding out for sub-£12 is going to have to wait a little longer. Pretty much back to where we started the week.

Edit: Just seen news that an airliner has crashed in Ukraine, supposedly shot down by a SAM. Market panic spurring PM prices?

Yep. If you are ready to order, and if today's price is good (which it is), then go ahead.

Sharp step down in the silver price this afternoon and gold following suit. The chart makes it look dramatic of course, but a big step for silver is still only £0.19/oz. Gold looking much better value at less than £756/oz. No doubt some of that will be recovered - or will it? Has the technical momentum well and truly swung to the bears favour and herald further drops before the week is out? 

I wouldn't mention the words great news,  some will have bought at £25+ an ounce

And if they wanted to buy some more, it's still great news. Low prices are bad only if you are wanting to sell. If not selling, it's not a problem.

Silver was still reasonable before the weekend and its gotten cheaper today. Gold was getting pricey and is now pretty cheap again. I don't have enough of either so I'm not complaining because I can now buy more.

Interesting bit of commentary from the market that last week's rally was driven entirely by speculative trading, but the lack of physical sales pretty much stalled it and people reconsidered their positions, taking quick profits and dumping a lot of contracts in the process. Remember my quote about all the traders using the same fundamentals? Well this is what happens when everyone hops on the bandwagon.

Edit to add that this is somewhat tongue-in-cheek, I am not prepped for a European bank meltdown or contagion, and no offence meant.

Confirmed by a friend in Lisbon; stocks in BES and its parent are suspended. Apparently the institution has a somewhat rotten core and there are all sort of intrigues going on behind the scenes. I'd get any money out of it as fast as I could, I would not be shocked to see a run on the bank.

news outlets reporting there are worries over Banco Espírito Santo, guessing this is the bank in question. Nowhere saying it's outright collapsed yet, unless you have a source? But yeah that would definitely spur gold/silver in the short term.

Typical that it would happen just before I want to buy some gold. I wonder whether this is a sustainable rally, whether the price will meet strong resistance and hold for a bit, or whether the excitement (and price) might subside a little before the weekend. We saw an almost identical sharp upturn 3 weeks ago followed by a long spell with little movement.

Anyone who bought about a month ago, with prices around £11.xx/oz, is probably feeling pretty pleased with themselves right now. Same with gold, which has followed the same pattern. I'd expect some profit-taking but if technical indicators and fundamentals are saying "buy" then most people will probably hold on hoping for more increases. 

God dammit!