Mint offers up production pieces to the public

kchan1111 · March 12, 2015, 07:38:38 PM

From RAM's website...

QuoteWednesday 11 March 2015

Unique production pieces from the manufacturing process at the Royal Australian Mint (the Mint) will be made available for the public to own through an official auction held by Downies Australian Coin Auctions in Melbourne from 26 to 28 May 2015.

In its 50th year, the Mint has re-evaluated its inventory policy and adopted a leaner approach to the retention of equipment and inventory after the production run is completed.

Mint CEO Ross MacDiarmid said a regular review and audit of processes is vital to ensure items are not retained unnecessarily.

"In the same way that we reviewed our circulating coin supply stock a number of years ago, we've also done the same with our production process," said Mr MacDiarmid.

"The coins that we are making available to the public are the production standard that our quality and production teams have used to ensure a high standard was maintained and in many cases exceeded across the entirety of production run for a particular coin."

"In effect, these coins are absolutely unique and were produced outside the official mintage of each release. They were not produced for sale, rather they were produced as a quality standard to inform the level of production. They are the greatest amongst their equals."

"Importantly, in our 50th year, it is the ideal time to make these special items available to those who will most value them. We anticipate that collectors will welcome the chance to take home some truly unique Australian coins."

Downies Australian Coin Auctions, Australia's oldest and most respected numismatic auction house based in Melbourne, will be hosting the auction.

Downies' Managing Director Ken Downie said that they have never held an auction like this before and welcomes the opportunity.

"We look forward to working with the Royal Australian Mint in hosting such an historic event, one which showcases some truly unique pieces that will be of great interest to collectors of Australian numismatics," said Mr Downie.

Ranging from circulating coinage to collectable pieces from as early as 1984, each coin will be accompanied by a personally signed Certificate of Authenticity by Ross MacDiarmid. In addition, an online register of each coin sold including a photo will be maintained on both the Royal Australian Mint and Downies websites.

Almost 500 bidders are expected to attend Downies Australian Coin Auctions sale 319 from 26 to 28 May 2015. The sale will be held at the Box Hill Town Hall in Melbourne's East. The auction catalogue is due for release in early May 2015.

ausjack · March 12, 2015, 07:48:27 PM

Mmmm interesting he goes on about the high standard when it's hard to get PCGS to grade our coins highly because they have to be immaculate to get a decent grade. The full sale of the mint sounds closer and closer every day.

I'll suss it out but doubt I'll get any because I don't have the money they'll be asking and every man and his dog will want something "special" but surprised they don't go straight to the retail side of downies.

robbiegal · March 12, 2015, 08:41:00 PM

"In effect, these coins are absolutely unique and were produced outside the official mintage of each release. They were not produced for sale, rather they were produced as a quality standard to inform the level of production. They are the greatest amongst their equals."

ausjack · March 12, 2015, 09:09:20 PM

sort of like the original proof and patterns?? before they worked out there was a big collectors market in 1955.

kchan1111 · March 12, 2015, 10:02:37 PM

Downies doesn't seem to have online auctions??? WTF.

ausjack · March 12, 2015, 10:07:55 PM

http://www.downies.com/aca/pages/upcoming.asp

there's a link but not sure if it will be on line so that will piss a lot of people off or they'll have to have a trip to melbourne :dash1:

Either way I'm out

runway · March 12, 2015, 11:07:47 PM

Mint CEO Ross MacDiarmid said a regular review and audit of processes is vital to ensure items are not retained unnecessarily.
My opinion is RAM is top heavy and management should be audited to ensure they are not retained unnecessarily

triplewitch · March 12, 2015, 11:42:54 PM

Management of any large enterprise is top heavy. There are a lot of folks feeding at the trough.

trout · March 13, 2015, 04:33:54 AM

Quote from: 'robbiegal' pid='68827' dateline='1426155060'"In effect, these coins are absolutely unique and were produced outside the official mintage of each release. They were not produced for sale, rather they were produced as a quality standard to inform the level of production. They are the greatest amongst their equals."

As the Australian public STILL own the Mint these coins should NOT be sold.
They should be held in an Australian Museum so that ALL Australians can enjoy them.

ausjack · March 13, 2015, 04:50:12 AM

Good point trout :i_agree:

Robster · March 13, 2015, 09:52:08 AM

They should continue to be owned by the people rather than sold to the highest bidder imo. :dodgy:

autocoupler · March 13, 2015, 10:17:31 AM

No doubt many of these coins will head off to the slabbers in the hope of a MS70, and therefore take the running in the race for top of the pops. If this happens, will it have a negative affect on current values of grades below MS70? On the other hand, anyone lucky enough to already possess a MS70 example may benefit.

purplepennyhunter · March 13, 2015, 10:40:33 AM

Do we actually have an example of what these special pieces might be? Lots of talk but nothing specific yet. I guess we wait and see. It will certainly get those not keen on travelling to the new Downies venue to rethink.

Quote from: 'Robster' pid='68866' dateline='1426202528'They should continue to be owned by the people rather than sold to the highest bidder imo. :dodgy:

So you're saying I already own them? Yippeee

ausjack · March 13, 2015, 11:34:23 AM

Gee auto now that's a bloody good question mate, someone else might know but probably, well if there's not all ready an MS70 it should drop the rest down a bit but then who knows :scratch_one-s_head:

I wish they'd put a few pic's up somewhere because there's no way I can make it just to look and especially with brissie coming up really quick so I'm saving my penny's a quick as I can.

Indirectly we all own them so I suppose you could go take them :winkextra: if ya game, are you really that game PP

While ya there mate please grab me one :beg:

But they also have to get MS70 so until we get to see them?

autocoupler · March 13, 2015, 12:05:25 PM

Quote from: 'purplepennyhunter' pid='68873' dateline='1426205433'Do we actually have an example of what these special pieces might be? Lots of talk but nothing specific yet. I guess we wait and see.

Quote from: 'ausjack' pid='68878' dateline='1426208663', someone else might know but probably, well if there's not all ready an MS70 it should drop the rest down a bit but then who knows :scratch_one-s_head:
But they also have to get MS70 so until we get to see them?

Without knowing anything at all about this, and just thinking out loud, presumably these coins would never have spent any time in a bin, and likely to have been struck as an example of excellence for comparison purposes. If this is the case, should we be thinking of them as specimens, or even as something akin to the early predecimal proofs?

Could be a great opportunity if they turn out to be anything close to this.