The Perth Mint has announced this week that one of its flagship Silver issues, the 2011 1oz Silver Kookaburra, has now sold out of its mintage of 500,000. The Silver Kookaburra is the Perth Mint’s longest-running and highest-selling Silver coin program, having been annually issued since 1990, attracting high interest from numismatists as well as bullion buyers.
In point of fact, both the 2008 and 2009 editions sold out of their individual mintages of 300,000, causing the rise in mintage of the 2010 edition to 500,000. The news of this sell out follows our reporting of the US Mint’s decision to ration sales of its 2011 Silver Eagle and speculated shortages at the Royal Canadian Mint of their silver coinage.
Indeed, the news comes at a time of lightning-fast rises in the price of Silver; Silver hit over $40 an ounce on 8 April for the first time since 1980, up 30.5% from 2010 http://on.ft.com/f0c8xG. Silver has risen substantially in price throughout the first quarter of 2011 and bullish interest in the metal has had some effect on the coin market.
The Toronto Star has reported increased consumer interest in both silver coins and silver antiques, with most analysts suggesting the rise is to continue. As the President of Maison Placements Inc. put it; “I just like precious metals, hard assets” http://bit.ly/dZtYgk.