The Perth Mint Comments on milk spots......

[Danny-boy]

Ron Currie from the PM Sales & Marketing department just posted this on another forum, so I thought I'd copy it across for our members to read.

His post reads as follows:-

Milk spot (or white spot) is a topic that other mints rarely like to discuss. In view of recent concerns expressed about this general lack of transparency, I'd like to get on the front foot and tell you what The Perth Mint is doing to minimize the problem.

Milk spots are opaque, cloudy blemishes that can appear on silver coins after they have left the mint. The vast majority of Perth Mint silver coins are unaffected by this issue. However, when they do appear, it's understandable that investors and collectors are concerned.

Milk spots have been attributed to a range of potential causes. In our experience the exact reason is difficult to pinpoint, with recent analysis effectively ruling out crucible contamination and water quality issues.

Now, Perth Mint metallurgists are working on the theory that microscopic airborne particles are largely to blame.

Although not conclusive, investigations have found a minute piece of debris at the centre of milk spots on a couple of affected coins. Surrounding each 'inclusion' were silver chloride (AgCI) crystals which created the milky blotch. In a further discovery, each piece of debris was raised above the coin surface, indicating that it had settled after striking.

More work is being carried out to confirm the composition of the debris but our immediate response has been a comprehensive cleaning program for the removal of dust and microscopic debris from all productions areas, including the trolleys used to transport coins around the factory.

All compressed air line filters have been cleaned to eliminate oil and water build-up, while our air conditioning filters have also been replaced to prevent airborne particles from entering the production areas.

Each of these actions is scheduled to be repeated regularly.

Finally, we've started quarantining some product before shipment to monitor whether this approach is working.

Fortunately, it seems that The Perth Mint is not as badly affected by this perplexing problem as some other mints and I'm pleased to report that we've already seen some further reduction. While it remains exceptionally difficult to eliminate completely, I am happy to reassure customers that we will never duck this critical issue as we seek all possible means to minimise its occurrence.

-------------ENDS-----------

Now in my opinion, that's the sort of response that a mint should give, rather than ignoring the issue. Take heed RCM.

[daz]

Yep, good they at least recognise it as a problem and are trying to do something about it.

[fitzy1990]

That is a good response and outlines the various procedures they are carrying out to minimise the white spot.

[MickB]

Excellent response. Makes you wonder why the RCM haven't looked into the problem in the same way as PM.

[Danny-boy]

Excellent response. Makes you wonder why the RCM haven't looked into the problem in the same way as PM.

Basically, RCM put out some sort of statement saying they didn't really care, and bullion is bullion.

I'm guessing they don't want to eat humble pie or swallow their pride.

[silversword]

Yep. RCM don't care. Perth Mint do. I know who will be getting my business in the future.

[Danny-boy]

I'd also like to see a comment from the GB Royal Mint also, bearing in mind the 5oz proof fiasco.

[MickB]

The RCM won't care if they're making record sales. They'd only care if it started to hit their figures but that won't happen.

If everyone started to call them the 'Royal Canadian Milkspots', instead of what they are, I'm sure a bad image would get them to act.

We live in hope...

[Hookythestacker]

I think that's a great idea Mick, and starting now I'm going to use it every chance I get, giving credit to where I first heard it of course.

[HighlandTiger]

I smell a conspiracy here, the Royal Canadian Mint is a Crown corporation, meaning it is owned by the Crown, ie the Queen, in right of Canada. Goddards Silver Cleaner has a Royal Warrant from the Queen. 

 

+=

[Shamatti]

Totally agree Danny - this is what you call first class customer service. Very impressed that A - they care enough about their product to go to the additional expense this project has obviously incurred them, and also B - they care enough about their customers to keep them up to date with the work they are doing. As a result - C - their reputation gets a good old polish up too! Nice work!

 

As for RCM, I think their line that 'Bullion is Bullion who cares?' actually reflects the attitudes of stackers who like myself are happy to pick up some cheap silver, regardless of spots. It is good cheap silver!!  I don't think their premium products suffer this problem, I expect they are more worried about their bottom line that they are about solving a problem they - and many of their customers - care little about.

 

Perhaps now that PM are both minting a low cost Bullion coin AND dealing with the milk spot issue so openly, RCM will feel their hand has been forced and they will have to make similar moves? Although I do still think that the 'churn it out cheap, who cares about spots' approach will continue to appeal to your average silver stacker.