The sixth coin in The Perth Mint's Lunar Series, the one-ounce Gold Snakes from 2001, was the third in the series to reach the Mint's limit of 30,000 one-ounce Lunar Series gold coins. The first coin to reach the limit was a one-ounce Gold Dragon from the year 2000. The next was a one-ounce Gold Horse from the year 2002.
The Chinese Lunar Calendar, which goes back to 2600 BC, is the basis for the Perth Mint Lunar Series. Each year is named after an animal, and each animal sign is ruled by one of the five elements: wood, fire, earth, metal, and water. Each element only shows up with a certain animal every sixty years. Because the Lunar Series is so unique, coin collectors from all over the world are drawn to it.
In 1996, the year of the Rat, the Lunar Series was started by the Perth Mint. Even though they are made for coin collectors, Lunar Series coins are sold at the same price as bullion coins.
The Lunar Series coins from Perth Mint are both useful and beautiful. They look almost as good as proof coins and are some of the most beautiful bullion coins made.
There are different sizes of Lunar Series coins, but the one-ounce coins are the most popular. The one-ounce gold coins are easy to get and store for people who want to buy gold bullion. Most of the time, coin collectors want one-ounce gold coins more than fractional-ounce gold coins.
The fact that only 30,000 Lunar Series coins can be made also makes them more popular. In contrast, the U.S. Mint can make as many one-ounce Gold Eagles as they want, even though they are the most popular gold bullion coins in the world. The U.S. Mint made about 1.5 million one-ounce Gold Eagles each year in 1998 and 1999. Gold Eagles are not likely to ever become collector coins, but the sold-out one-ounce Dragons, Gold Horses, and Gold Snakes have already reached collector status.
People who collect coins and people who buy gold bullion both like the one-ounce Lunar Series gold coins. Gold bullion investors can buy Lunar Series one-ounce gold coins at the same price as bullion coins. This gives bullion coin investors the chance to make money in two ways. One way is if the price of gold goes up. Two, because the one-ounce Lunar Series gold coins might be worth more to collectors than face value.
When bullion investors see how beautiful the Lunar Series coins are, they often buy all of the available coins in the Series. The last coin in the series, the year of the pig in 2007, won't be given out until September 2006. Because the Lunar Series coins are so well made, some people who used to invest in bullion are now collecting them.
China will host the Summer Olympics in 2008, which is another reason why more people are interested in the Lunar Series gold coins. There are often stories and articles in the news about China, its land, its people, and its culture. Because of this, more people are learning about the Lunar Calendar, and things like gold coins that promote the Lunar Calendar are starting to show up.
Still another reason why people are so interested in the Lunar Series is that collector coins have been worth a lot in the past when the price of precious metals went up. In fact, sometimes these markets get too hot, and collector coins reach prices that are too high. Many metals analysts say that the price of precious metals is going to go up, which could be good news for the one-ounce Lunar Series coins.
