Glass
14th December 2010, 10:19 PM
A friend of mine was asking me about these Aussie silver coins. Here is an example of them for sale on a web site down here:
1988 Bicentennial $10 Silver (http://www.prospectstampsandcoins.com.au/1988-bicentennial-ten-dollar-silver-unc-coin.html)
From what I can find out these are 20 grams @ 92.5 silver, so sterling 0r 18.5gms silver per coin.
They are supposed to be legal tender at $10.00.
So running the numbers at todays AUD spot price they would be worth $17.75. They are selling at $22.00 on that site. That is a $4.74 premium.
A 10z Kookaburra from the Perth mint is AUD $39.85 with spot being $29.85. That is a $10 premium.
If you import kookaburras you can probably get a deal resulting in a 10% saving on the Perth mint price at the time including premium. Kookaburras have a $1.00 face value and are legal tender.
So on a Ag weight comparison, ounce for ounce these other coins look like the same price as I could get them out of the US with taxes etc. The face value is intriguing as well. I always felt kookaburras should be at least $10.00 face value.
I haven't heard of them before so I was a bit surprised when he showed them to me. I thought they were some kind of scam but they look like they were produced at the Royal Australian Min in Canberra. I know Aussie coins are a bit obscure around the world but wondered if anyone else had come across them.
Other than that, any thoughts?
1988 Bicentennial $10 Silver (http://www.prospectstampsandcoins.com.au/1988-bicentennial-ten-dollar-silver-unc-coin.html)
From what I can find out these are 20 grams @ 92.5 silver, so sterling 0r 18.5gms silver per coin.
They are supposed to be legal tender at $10.00.
So running the numbers at todays AUD spot price they would be worth $17.75. They are selling at $22.00 on that site. That is a $4.74 premium.
A 10z Kookaburra from the Perth mint is AUD $39.85 with spot being $29.85. That is a $10 premium.
If you import kookaburras you can probably get a deal resulting in a 10% saving on the Perth mint price at the time including premium. Kookaburras have a $1.00 face value and are legal tender.
So on a Ag weight comparison, ounce for ounce these other coins look like the same price as I could get them out of the US with taxes etc. The face value is intriguing as well. I always felt kookaburras should be at least $10.00 face value.
I haven't heard of them before so I was a bit surprised when he showed them to me. I thought they were some kind of scam but they look like they were produced at the Royal Australian Min in Canberra. I know Aussie coins are a bit obscure around the world but wondered if anyone else had come across them.
Other than that, any thoughts?