These sets contain the coins issued by the Royal Australian Mint (RAM) for use as currency (sometimes called circulation coins as discussed in Lesson 3). The sets usually contain the standard circulating coins of the year, however in the later issues some of the commemorative coins started to appear.
1994 Mint Set issued by RAM
The coins used for mint sets are the coins minted by RAM for circulation. They are in mint condition in contrast to the coins distributed in the banking supply system, not having the usual bag knocks or rubbing marks.
Packaging used to house the 1993 $1 Landcare coin
Commemorative circulating coins are minted by the Royal Australian Mint (RAM) and have a unique design celebrating an important event or anniversary. They are therefore the non standard designs, but are still released for use as circulating currency and are legal tender. These are the main types:
- Commemorative circulating coins minted for use as currency can be found in your loose change. These are minted for circulation and distributed the same way as standard currency coins, mainly through the bank system, although some go to coin dealers who add value by putting them in special packaging to sell through retail outlets. For example, the Landcare coin shown above. These are type of commemorative coins that we will be discussing in this blog. We will be offering blogs on the other types, below, in later editions.
- NCLT coins (non circulating legal tender coins)
- Silver commemorative coins
- Coins minted just for the collector market
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The coin releases from The Perth Mint and Royal Australian Mint just in the first period of 2015 are plentiful so the question is this –
Are the mints killing off a very lucrative market by oversupplying?
The releases from both the Pert Mint and Royal Australian Mint around this time include Anzac Centenary and Gallipoli releases, Eternal Love, Cricket, New Year, the Lunar series with many different sizes and types, Coin show special, sunset Batman, Gods of Olympia, Star Trek and more but you get the point.
All things considered and under normal circumstances it would appear the market is defiantly been oversupplied. Although I am not that familiar with International releases the same expansion of releases appears to be occurring with other mints as well.
The immediately effect of this has been a gradual drop in prices for previously released coins. If collectors cannot be guaranteed rising prices for their coins it does spell trouble for the silver commemorative market. It is a relatively new market really only becoming popular in the last decade or so and needs careful consideration and management by the mints.
The question in my mind is what of the future?
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