Silver Stackers logo

Silver Stackers

Discussion forum for those
who love to stack precious metals

You are not logged in.

Announcement

Forum registration is closed. It will reopen on Monday.

#51 2014-09-01 04:23:57

monopolize
Member
From: Melbourne
Registered: 2013-03-28
Posts: 1,003
Trades :   135 

Re: Perth Mint Year of the Goat Launch Attendees

I think gp mentioned previously that the retail shop at the Perth Mint is separate from the wholesale division. So possibly the pm retail shop buys the coins from the wholesale division for the same price as the dealers. Maybe their sales aren't so great so they had to up the pricing to cover wage increases? Either way I think they've lost touch with current market conditions.

Offline

The following 2 users say thank you for this post: spannermonkey, dollars

#52 2014-09-01 04:47:48

Eureka Moments
Silver Stacker
From: bosis
Registered: 2011-10-31
Posts: 6,713
Trades :   63 

Re: Perth Mint Year of the Goat Launch Attendees

As a MARKETING exercise the Mint could have knocked $3-4 OFF the price for attendees.

Why on earth would someone, particularly the vast majority of us who dont live in Perth, want to visit? I can understand that the Mint doesnt give a rats (or goats) arse about SS members or most other retail customers in Aus but if Perth Mint made some sort of effort they could attract some TOURISM dollars into their State.

Sovereign Hill in Ballarat does gold pours 3 times a day so no need to fly across the Country to see one.

Fail.


Disclosure:  Sheep are silly baaaaastards. 

Offline

#53 2014-09-01 04:59:46

SpacePete
Silver Stacker
Registered: 2014-03-01
Posts: 13,437
Trades :   122 
Website

Re: Perth Mint Year of the Goat Launch Attendees

What sort of coin numbers does the Perth Mint shift in Australia?

Just speculating, but maybe the market for coins here is stagnating or even shrinking relative to other countries in the region, and with limited staff resources and budget pressures I can understand that they may have to focus the majority of efforts elsewhere.

So what can be done to substantially grow the market in Australia? More stackers and more collectors is great for us all.


Catus amat piscem, sed non vult tingere plantas

Offline

#54 2014-09-01 05:08:30

Eureka Moments
Silver Stacker
From: bosis
Registered: 2011-10-31
Posts: 6,713
Trades :   63 

Re: Perth Mint Year of the Goat Launch Attendees

SilverPete wrote:

What sort of coin numbers does the Perth Mint shift in Australia?

Just speculating, but maybe the market for coins here is stagnating or even shrinking relative to other countries in the region, and with limited staff resources and budget pressures I can understand that they may have to focus the majority of efforts elsewhere.

So what can be done to substantially grow the market in Australia? More stackers and more collectors is great for us all.

Stop retailing altogether and operate as a factory which is what PM is.  Be cheaper than paying lip service as is their current practice.


Disclosure:  Sheep are silly baaaaastards. 

Offline

#55 2014-09-01 05:14:53

renovator
Member
From: QLD
Registered: 2011-01-20
Posts: 7,529
Trades :   

Re: Perth Mint Year of the Goat Launch Attendees

Eureka Moments wrote:

As a MARKETING exercise the Mint could have knocked $3-4 OFF the price for attendees.

Why on earth would someone, particularly the vast majority of us who dont live in Perth, want to visit? I can understand that the Mint doesnt give a rats (or goats) arse about SS members or most other retail customers in Aus but if Perth Mint made some sort of effort they could attract some TOURISM dollars into their State.

Sovereign Hill in Ballarat does gold pours 3 times a day so no need to fly across the Country to see one.

Fail.

yep lame ...oh look they melted some metal & are pouring it  !!!! oooooohhhh come on everybody say it with me now OOOOHHHH.....AHHHHH ....WOW !!!! lol .

Honestly i am shocked at the way the PM treats their own local loyal buyers .People spend lots of money flying there , paying for hotel rooms, having the day off work & losing money to be there & what do they get ? They get charged more than if they stayed at home or went to work & bought it from elswhere ... now thats a deal you can hardly refuse    roll Tightarses

You would think they would make an annual event out of it put on lunch , some drinks & give something back at least wholesale breaks for the people who attended . It seems mean to not give a group the same deals they give a dealer for a 500 coin purchase . IMO a loyal group buy should be given the same price breaks as dealers .

Everyone could have just had a group buy from another dealer & saved themselves around $400 if buying 100 coins & went & had a smashing pissup & feed at the local meet with the savings & still come home with change .Even the 20 coin limit you could save $80 thats a decent lunch & enough beer to make you giggle & a cab home. Makes no sense to me at all


i used to be disgusted now im just amused

Offline

The following 6 users say thank you for this post: Eureka Moments, dccpa, Ronnie 666, dollars, black5wan, Holdfast

#56 2014-09-01 05:36:19

Ronnie 666
Silver Stacker
From: Australia
Registered: 2011-03-16
Posts: 2,402
Trades :   175 

Re: Perth Mint Year of the Goat Launch Attendees

Ron was asked why doesn't the PM remain as a wholesaler and give up the shop. He felt prices would skyrocket if that was to happen. You can decide if that would happen or not. I think not.

A few weeks ago I went to a meeting hosted by the mint for the Anzac coin launch. I was probably the only SS member there. All guests were given a free PNC and drinks. I would doubt that anyone there was a stacker (except me) or spends serious cash at the mint. It was a very moving ceremony and well done (Ron was the organiser).  If they can do it for people who don't spend money at the PM surely they can do it for SS who spend most of their spare cash there (directly or indirectly).


"The Two Most Common Elements in the Universe Are Hydrogen and Stupidity" Frank Zappa

Offline

The following 2 users say thank you for this post: dollars, clear

#57 2014-09-01 05:48:46

renovator
Member
From: QLD
Registered: 2011-01-20
Posts: 7,529
Trades :   

Re: Perth Mint Year of the Goat Launch Attendees

It seems the only place the price skyrockets is in their own shop lol


i used to be disgusted now im just amused

Offline

#58 2014-09-01 06:11:32

Yendor
Member
From: Perth
Registered: 2013-12-29
Posts: 237
Trades :   

Re: Perth Mint Year of the Goat Launch Attendees

Holdfast wrote:

Silver Forum Members Visit The Perth Mint

http://www.perthmintbullion.com/Blog/au/Blog.aspx

I'm famous (well, the back of my head is)!!  Thanks for the event Perth Mint!!
I'm sure if they want people to test out their new website, the members here can help out.

bloomst wrote:

Did anyone asked if the higher premium on Lunar coin compared to the Koala/Kookaburra will be the common practice from Perth Mint from now? There's like $3 difference in premium from Lunar over Koala, and wonder what would this mean down the track in the secondary market.

I asked the lady at the counter.  Compared to the 2014 Kook, the 2015 Kook is $1 cheaper, while the 2015 Goat is $3 more expensive.

renovator wrote:

You would think they would make an annual event out of it put on lunch , some drinks & give something back at least wholesale breaks for the people who attended . It seems mean to not give a group the same deals they give a dealer for a 500 coin purchase . IMO a loyal group buy should be given the same price breaks as dealers .

Everyone could have just had a group buy from another dealer & saved themselves around $400 if buying 100 coins & went & had a smashing pissup & feed at the local meet with the savings & still come home with change .Even the 20 coin limit you could save $80 thats a decent lunch & enough beer to make you giggle & a cab home. Makes no sense to me at all

Maybe next time we should see what quantity everyone is willing to commit to before the day, and buy them on the day at the bulk rate.  30 people buying 1 roll each would hit the maximum quantity break.  That would also assist Perth Mint, as they'd know how many coins they would need for us.

I'm sure there are other things that would also attract people.  Would people be interested in something like a "Release Day" stamped coin?  You could do it like they do for the ANDA coin show, just stamping them on the spot to meet demand.  More for collectors than stackers I guess.  1 per person, release day only, zero to dealers.  And/Or you could put small numbered certificates with each one (like some stock horses), so people can show they have the very first 'something' coin sold.  (To do that, you might need to hold the release the night before.)  OR just have a certificate for the first coin, and have people play sudden-death two-up until there's a final victor, who receives the honor of buying the first 1oz coin of the new series.

Offline

#59 2014-09-01 06:25:04

Aureus
Silver Stacker
From: Milky Way Galaxy
Registered: 2011-07-07
Posts: 3,030
Trades :   45 

Re: Perth Mint Year of the Goat Launch Attendees

Graeme wrote:
goldpelican wrote:

17 people? We had 30 confirmed plus dealer staff hmm

Thank you all who made it - I think this might be the last such launch event with numbers that low.

Hi GP.

I really hope it isn't the last, but I don't think Ron was impressed with the turnout and was asking for feedback on why the numbers were low.

The general feeling in the crowd was that stackers can buy bullion grade coins cheaper from dealers than the mint, with some early purchasers securing the 1oz silver coins at under $30 each. The market being stagnant also didn't bring out the buyers, and even when the mint did open to the public today at 9:00am, not one member of the public came to the bullion counter to buy the lunars whilst I was there transacting. Compared to previous years where there we queues at the front gate, this was quite odd.

I would loved to have invested more money but forget about the $1000 limit on electronic transactions. roll Seeing the 1 ton kangaroo in person puts everyone's stacks into perspective. yikes

Thank you to those that organised it and to the Perth Mint for once again graciously opening your doors early for us to attend.

I feel bad for those involved in making meets like this happen, it doesn't look good, but fault lies solely on the mint.

sale limits and terrible pricing have to be the 2 reasons why this happened.
There is the feedback, how about listening to it? particularly when it's a goat that you're trying to sell to people.


An investment in knowledge pays the best interest.

Offline

The following 4 users say thank you for this post: dollars, madaw1, House, ashleyd123

#60 2014-09-01 09:44:02

dccpa
Member
From: USA
Registered: 2010-08-29
Posts: 3,168
Trades :   

Re: Perth Mint Year of the Goat Launch Attendees

Yendor wrote:
Holdfast wrote:

Silver Forum Members Visit The Perth Mint

http://www.perthmintbullion.com/Blog/au/Blog.aspx

I'm famous (well, the back of my head is)!!  Thanks for the event Perth Mint!!
I'm sure if they want people to test out their new website, the members here can help out.

bloomst wrote:

Did anyone asked if the higher premium on Lunar coin compared to the Koala/Kookaburra will be the common practice from Perth Mint from now? There's like $3 difference in premium from Lunar over Koala, and wonder what would this mean down the track in the secondary market.

I asked the lady at the counter.  Compared to the 2014 Kook, the 2015 Kook is $1 cheaper, while the 2015 Goat is $3 more expensive.

renovator wrote:

You would think they would make an annual event out of it put on lunch , some drinks & give something back at least wholesale breaks for the people who attended . It seems mean to not give a group the same deals they give a dealer for a 500 coin purchase . IMO a loyal group buy should be given the same price breaks as dealers .

Everyone could have just had a group buy from another dealer & saved themselves around $400 if buying 100 coins & went & had a smashing pissup & feed at the local meet with the savings & still come home with change .Even the 20 coin limit you could save $80 thats a decent lunch & enough beer to make you giggle & a cab home. Makes no sense to me at all

Maybe next time we should see what quantity everyone is willing to commit to before the day, and buy them on the day at the bulk rate.  30 people buying 1 roll each would hit the maximum quantity break.  That would also assist Perth Mint, as they'd know how many coins they would need for us.

I'm sure there are other things that would also attract people.  Would people be interested in something like a "Release Day" stamped coin?  You could do it like they do for the ANDA coin show, just stamping them on the spot to meet demand.  More for collectors than stackers I guess.  1 per person, release day only, zero to dealers.  And/Or you could put small numbered certificates with each one (like some stock horses), so people can show they have the very first 'something' coin sold.  (To do that, you might need to hold the release the night before.)  OR just have a certificate for the first coin, and have people play sudden-death two-up until there's a final victor, who receives the honor of buying the first 1oz coin of the new series.


That last paragraph contains some very good ideas. It would give the attendees something unique for taking the time and expense to travel to the event. If the PM did some of those things, more people would be interested in attending and they might even be willing to pay the higher prices.

I am surprised that the PM was surprised by the lack of customers. As others have written, if there is a cheaper more convenient method to buy, then people will use that method. Make it more expense to drive there and buy in person than to order from the convenience of your chair and a person will stay home and buy online. It seems like the PM employees who make these decisions never consider the end use consumer. The kook remint is another famous example of an idea that was obviously going to tick off customers. They need to hire yendor and put him over marketing. lol

Offline

#61 2014-09-01 11:55:45

sammysilver
Silver Stacker
From: Sydney
Registered: 2011-04-07
Posts: 5,481
Trades :   189 
Website

Re: Perth Mint Year of the Goat Launch Attendees

I'd like to thank the Perth Mint team for putting on today's event. I would recommend a visit there to any one from the East Coast.

I picked myself up a stack of silver for distribution back home and don't begrudge the price knowing that I have the metal weeks ahead of the others.

I will certainly come back again next year.


The price we pay for the good life is public servitude.

Offline

#62 2014-09-03 09:37:31

rbaggio
Silver Stacker
From: Australia
Registered: 2010-08-05
Posts: 4,485

Re: Perth Mint Year of the Goat Launch Attendees

The fact that it was the Goat didn't help.

If it was the Dragon or Tiger ... different story.

Offline

Board footer

Powered by FluxBB