- COIN APPROVALS
All coins are approved by an issuing authority. When a coin is approved a MAXIMUM MINTAGE is set. If no such specification is made, then the coin is regarded as having UNLIMITED MINTAGE.
- MINTAGES IN PRACTICE
- For MAXIMUM MINTAGE coins:
Once the MAXIMUM MINTAGE is reached, the coin is pronounced ‘sold out’ and no further coins are minted. If a coin is not sold out, the mintage will remain open until such time it becomes sold out (MAXIMUM MINTAGE is reached), unless:
- The coin is offered for sale for a specified time period only; or,
- The market no longer has any interest in the coin
In either case, The Perth Mint will close-off production and declare the mintage (DECLARED MINTAGE) at the appropriate time.
- For UNLIMITED MINTAGE coins:
i. UNLIMITED MINTAGE coins may be sold in unlimited quantities and for an unlimited period of time.
ii. UNLIMITED MINTAGE coins may also be sold on a MINT-TO-ORDER basis. This means that there is a specific time period during which the coin can be minted in unlimited quantities. Once that time period has expired, a mintage is declared, and no further coins may be minted.
- COIN VARIATIONS
Any coin which features a design that has changed in any way is a new coin and a separate issuing authority approval has to be obtained. The mintage arrangements for such a coin have to be put in place independently of the original coin, which remains a separate coin with its own mintage arrangements.
- PACKAGING VARIATIONS
The Perth Mint may issue approved coins in special packaging, to satisfy specific market demands, or it may compile special sets which include multiple coins. When either of these is decided, such special issues will be subject to an ISSUE LIMIT which will be contained within the MAXIMUM MINTAGE of each coin.
- IDENTIFYING THE ISSUE LIMITS AND MAXIMUM MINTAGES
The Perth Mint marketing, promotional and certificate material will clearly state the total ISSUE LIMIT of each product and the MAXIMUM MINTAGE of the coin(s) it features.
Clarification of terminology can be found in The Perth Mint’s Glossary of Terms.
The Perth Mint reserves the right to amend this policy in the future. Amendments will be published on The Perth Mint’s website and blog.
THE PERTH MINT
Glossary of Terms
The total quantity of a coin that will ever be struck.
Relates to the completely unrestricted number of a coin that can be struck.
Is the final production figure for a coin that has been closed-off before its Maximum Mintage is reached; or the final production figure for a Mint-to-Order coin or an Unlimited Mintage coin.
An alternative type of presentation packaging in which a coin or coin combination may also be released.
The number of coin or coin combinations released in a particular type of presentation packaging.
Relates to a coin which is minted in unlimited quantities within a stipulated period of time (eg 12 months from release). The total number of Mint-to-Order coins made in response to demand is declared after the manufacturing period has ended.
Means that a coin’s Maximum Mintage, or that an Issue Limit, has been fully sold by The Perth Mint.
The very highest quality collectable coin produced by The Perth Mint. Featuring a proof finish comprising a highly-polished table with frosted and/or coloured design elements.
Bullion coins are primarily produced for investors and are valued by the weight of the precious metal which fluctuates based on the daily metal price. Unlike proof coins, the condition and rarity of a bullion coin does not affect its value, its value is determined by the metal content itself.
A collectable coin akin to a bullion coin with a frosted table, but also featuring one or more special numismatic treatments, including colour, gilding, antiquing, or the insertion of gems. *Please note that this term was previously used to describe the difference between some of our older products, namely, proof and bullion coloured Australian Lunar coins and is no longer relevant to our current product range. As a result, it is no longer used in any of our marketing or product materials.