The Royal Australian Mint's Master Collection will be sold in Downies Australian Coin Auctions at Box Hill Town Hall in Melbourne on Tuesday 26 May 2015. A one kilogram 2012 Lucky Dragon gold master coin is the highest estimate coin at $60,000. The proof-like gold coin retailed for about $92,000 during it release in 2012.
The coins to be sold are known as production standard master coins, used by the mint for quality control during the production of circulating and collectable coins.
Here's how it works. Two coins are hand-picked from the first batch struck of every new series and retained as quality standards. One is kept on the factory floor for checking purposes, then destroyed after five years. The second master is marked in red and placed in the official mint archives. These are the ones that will be sold.
Master coins are not included in the official mintage figures, so some collectors may not even be aware of their existence. It's the first time any have been offered for public or private sale.
The coins date from 1986 to 2014. Auction estimates range from $25 to $60,000. They are being sold because the Mint is streamlining the manufacturing process, which includes reducing the number of coins kept in the archives.
"This regular review and audit of processes is vital to ensure items are not retained unnecessarily," says Royal Australian Mint chief executive Ross MacDiarmid.
"In effect, these coins are unique," he says. "They are the greatest among their equals."
A certificate of authenticity signed by MacDiarmid accompanies each coin. An online register kept by the mint and Downies includes a description and identification photo of every item listed.
Although the mint will not comment on investment potential, this register – a virtual guarantee of provenance – suggests that many buyers are treating these coins as investments.
Some coins in the Eureka series were were struck without a mint mark, which was added later using a mobile press at numismatic fairs in each state. This is one of only a few known examples without a mint mark to reach collectors. It has an estimate of $1000.
You can start download the catalogue for Sale 319 via Downies official website www.downies.com/aca.
Source: Sydney Morning Herald
