Lunar Series Gold Snakes Sell Out
Become Collector Coins
By: Bill Haynes
Posted: 'June 21, 2006
The year 2001 1-oz Gold Snakes, the sixth coin in The Perth Mint Lunar Series, became the third coin in the Series to reach the 30,000-coin production cap. The year 2000 1-oz Dragon was the first, followed by the year 2002 1-oz Gold Horse. It is our guess that the year 2006 1-oz Gold Dogs will be the next coin to sell out.
The dog, "Man's best friend," is an immensely popular animal, and sales of Gold Dogs have been such that The Perth Mint authorized distributors (the importers) are having a tough time keeping them in stock. Demand continues to outstrip both importers and Perth Mint estimates.
CMIGS recommends the 1-oz Lunar Series gold coins because they offer gold bullion investors the opportunity to buy collector coins at bullion coin prices. Buying Lunar Series 1-oz gold coins give investors the opportunity to profit two ways. One, by an increase in the price of gold. Two, by the potential for the 1-oz Lunar Series gold coins to pick up collector premiums.
We believe that the 1-oz gold Lunar Series coins will pick up collector premiums for several reasons. One, the 1-oz Lunar Series gold coins have 30,000-coin production caps. American Gold Eagles, the world's best selling gold bullion coin, are unlimited production coins and are unlikely ever to pick up collector premiums.
Supporting this position is that three Lunar Series coins have reached their production caps and have picked up premiums in the collectible market. Demand for the "sold out" coins has been such that CMIGS has shipped the coins around the world, including back to Australia where the coins are minted.
Further, the Lunar Series coins are so exquisitely struck that many bullion investors on seeing the beauty of the coins buy all the coins in the Series. Some bullion investors have become collectors because of the high quality of the Lunar Series coins.
Another reason we like the Lunar Series gold coins: In 2008, now only two years away, China will host the Summer Olympics. As the Olympics approach, we can expect the media to flood us with stories, articles, interviews, etc. about China, its land, people, and culture. As a result, more people will learn about the Lunar Calendar, and promotions of items related to the Lunar Calendar, everything from trinkets to gold coins and jewelry, will abound.
The Lunar Series is based on the Chinese 12 year Lunar Calendar, which dates back to 2600 BC. Each year is named after an animal, and, in turn, each animal sign is governed by five elements: wood, fire, earth, metal, and water. Each element appears with each animal only once every 60 years. Because of the uniqueness of the Series, coin collectors worldwide are drawn to these coins.
The Perth Mint launched the Lunar Series in 1996 in the year of the Rat. Although aimed at the coin collector market, the Rat and the subsequent coins are sold at bullion coin prices. Truly, Lunar Series coins offer both value and beauty. They are struck with near proof quality and are among the most beautiful bullion coins being minted.
Still another reason we like the Lunar Series: In the past, collector coins have risen to very high prices during precious metals bull markets. Actually, sometimes those markets have overheated, and collector coins have achieved unrealistic prices. CMIGS believes that precious metals prices are headed higher and that the Lunar Series coins could do very well as more collectors are drawn to the Series.
Although the Lunar Series coins are marketed at the collector market, they are basically priced as bullion coins, with premiums slightly higher than American Gold Eagles. However, to stimulate interest in the Lunar Series, one coin from the Series is priced at Gold Eagle prices. Now, that coin is the year 2006 Gold Dog.
This marketing move creates increased interest in the Series as the coins sell out. Meeting Gold Eagle prices with the Dragons, Horses, and Snakes boosted their sales and resulted in those coins reaching their production caps. CMIGS believes that 1-oz Gold Dogs will be the next Lunar Series coin to sell out.
For more Lunar Series information (and photos), read our Lunar Series Overview. And, here is a link directly to our webpage about the Gold Dogs. Finally, here is a link to a website dedicated exclusively to the Lunar Series.
Although Lunar Series coins come in various sizes, CMI recommends only the 1-oz coins for investment purposes. As a rule, 1-oz coins are more sought after by coin collectors, resulting in stronger secondary markets.
If you would like to discuss investing in Lunar Series coins, call us at 1-800-528-1380. We take call 7:00 a.m. to 5:00 p.m., Mondays through Friday, MST. (During Daylight Savings Time, we are essentially on Pacific Time because Arizona does not go on Daylight Savings.)
