In our March 27 article about the Perth Mint closing its hugely successful Lunar Series, we failed to cover what the Perth Mint is going to do about the three silver Lunar years not minted: the Rat, the Ox, and the Tiger.
To bring everyone up to speed, the Mint began production of the gold Lunar Series coins in 1996 with the year of the Rat , but did not produce silver Lunar Series coins until 1999, with the year of the Rabbit. Since the Mint is taking final orders for the Series on June 30, unless it mints those three years in 2008, 2009, and 2010, collectors of the silver Lunar Series coins will not be able to complete their Series. Frankly, I think it would be major misstep of the Perth Mint failed to provide collectors of the silver Lunar Sires coins with coins of all the same design and dimensions.
The Mint has informed us (and as explained in the article) that for 2008 Rat (Mouse to some), which starts the next 12-year cycle of the Lunar Calendar, they will change drastically the look of the Lunar coins so that the first series coins will not be confused with the second series. When we find out what the Mint plans to do about the missing three silver Lunar Series coins, we will post here.
Although we sold quite a few silver Lunar Series coins, we never recommended them because of their high premiums, which make them collector items, not investment items.
What do you think will happen to our country’s reserves?
The “missing” three silver lunar coins were minted at the end of the series.
First, we have to audit Ft. Knox and the NY Fed vaults to determine how much gold is there; then we have to determine who owns it, the Treasury or the Fed.