Coiners - $10 Rememberance Day Coin from Macquarie Mint

I don't have the coin - but I got a letter from Maquarie Mint today for "selected households" offering me an "official 2013 $10 Silver Commemorative coin which pays homage to the courage, selflessness, and spirit of every Australian Digger"


 


It's a limited edition release I saw somewhere 150,000 of them


 


and you get a $2 commemorative coin as well.


 


You do have to pay $10 for the $10 coin.


 


If you want it - let me know and the form is yours as I don't collect coins


 


or it does say "order online today" and gives a web address (I don't think I'm allowed to post those here) so maybe you don't even need the form


 


 


 


 


Some people can go their whole lives and never really live for a single minute.
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Coiners - $10 Rememberance Day Coin from Macquarie Mint

Anyone who orders one of these things will probably regret it. Because, though it mentions it nowhere on their glossy double-sided advertisement they mailed out at random, what you are actually agreeing to sign up for when you order this coin is to have your address and credit card details added to one of their "coin of the month" programs. They will continue to send you coins, at very much more than $10 each, until and unless you ask them to stop. Their target market are the people who are too nice or too timid to ask them to stop. Their target market are certainly not actual coin collectors; their advertisements appear in mailboxes, newspapers and popular magazines - everywhere, in fact except in the coin magazines.


 


Don't be fooled; "Macquarie Mint" is no more a "mint" than you or I am. They're the direct-marketing coin-selling arm of a large southern coin dealer. Their coins have, as far as I can determine, actually been made in China or some other offshore locale. You'll notice that, although the blurb that comes with the "coin" waffles on about the Australian fighting forces, the word "Anzac" is never mentioned; that's because there are laws in this country against selling cheap imported junk with "Anzac" stamped on it.


 


When they first launched this "$10 for $10" scheme back in 2011, the first coin they issued was "from" Nauru. Which was a complete and utter fabrication, since Nauru does not and has not issued its own coinage. I still have an e-mail from the Secretary for Justice and Border Control of Nauru, confirming this. The 2012 and 2013 coins are "from" Kiribati. I hope this time they actually talked to someone in Kiribati and secured authentic permission to issue these "legal tender coins". And I hope some of the seigniorage from the sale of these "coins" actually goes to the Kiribati government, as it rightfully should; our Pacific Island neighbours need all the financial assistance from us they can get.

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

I'm glad I found your comment. I just received a letter about a 2014 commemorative coin. The whole thing looked suss to me, but I really like shiny things, so I did some googling and found this. You're right, nowhere on here is the word 'Anzac'. They also say 'no risk' a little too often, which makes me think that there is, indeed, a risk. Lol

Such a shame. That coin sure is shiny.

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

Nice thought crikey, but it is mostly marketing.

I received it also and filed it under more junk mail. Smiley Wink

 

lauren, you have hit the nail on the head, they look soooo nice n shiny. (but you can't eat them)

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

I'm glad you liked it and found it helpful.

 

The coins themselves aren't as shiny as the adverts make out. And, given that they are only made of .500 fine silver, their shininess will depend entirely on your ability to keep air and moisture away from them. I wouldn't trust the packaging that Macquarie Mint sent the coins out in.

 

SInce this scheme (scam?) was first launched, the price of silver has gone down. So people are getting even less "value for money" than they originally were.

 

I was in a coin dealer's shop almost a year ago (not long after the OP originally posted this, actually) when someone came into the shop with two of the not-actually-legal-tender 2011 Nauru "coins", hoping to get his $10 back; he'd already been laughed out the door by the banks, and it was way past the official "buy-back" period for the 2011 coin from Macquarie Mint itself. The coin dealer offered him $4 each for them - which was pretty much bullion value at the time. I felt sorry for the guy and offered to buy one of them off him for $10; the coin dealer bought the other one. He was happy to find someone who was prepared to give him anything at all for them.

 

But there's one guy who has been burned by this experience and will probably never have anything to do with coins, ever again. It's that kind of poisoned legacy that gives me the greatest concern with Macquarie Mint's modus operandi.

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

I too got one of those letters which promptly went in the bin

Anything collectable coins dolls plates etc only makes moneyfor the  origina    lseller

Our local 2 hand shop had the complete selection of american   Indian  plates and dolls of the world and could not even get half their orignial price for them

The dolls were   still in thier packaging

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

Just got the 2015 'selected households' spam in my letterbox. Out of interest I checked their website, and the order page is not secure. Anyone putting their details there has no guarantee of privacy. That put me off straight away. Now finding this thread confirmed my suspicions. Thanks, people, I'll stick to genuine mints like the Perth and Royal Australian mints.

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

I don't usually order coins from mints, but on the rare occasions I do, I indeed prefer to buy coins from actual mints, rather than from mass-marketeers pretending to be a mint.

 

One aspect of the issue that hasn't really been touched on much in this thread is the whole "no risk" concept of "getting $10 back for your $10 coin". If you go to the website and read the fine print (if you can find the fine print page; they've hidden it well) it turns out that it isn't really equivalent to exchanging your $10 coin for $10 cash, like it would be for an actual legal tender Australian coin. It's just the chance to return the goods you've bought for a refund, which is something you as a consumer are entitled to do under Australian law anyway, whether the seller hypes this fact in their advertising or not. One corollary of this is that it's not transferable; you can't give or sell the coin on to someone else and have them obtain "their" $10 back; it's only the person who actually bought the coin that can reclaim their money, since they have to supply Macquaire MInt's refunds department with their proof of purchase.

 

One final item of interest: I was at a coin show back in February 2015 and saw a 2013 Kiribati coin for sale from a coin dealer there. His asking price? $9. Which meant he too would have paid a lot less than $9 to buy it. At least in the short term, these "coins" are proving to be terrible investments for the poor saps that get sucked in. And yes, I did buy it. I'd rather give a local coin dealer $9 than Macquarie Mint $10, any day.

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Coiners - $10 Rememberance Day Coin from Macquarie Mint

May be of interest to some - http://www.9news.com.au/national/2015/04/24/08/43/anzac-coin-lands-vic-maker-in-trouble

 

"Anzac coin lands Vic maker in trouble

A Victorian souvenir coin maker is under investigation for unauthorised use of the rising sun logo and the word Anzac.

 

The Department of Defence and the Department of Veterans Affairs say they are investigating the use of these protected features on a Macquarie Mint coin and in related marketing material.

 

The "1915 Gallipoli Landing Centenary" coin is advertised as legal tender in the central pacific nation of Kiribati.

The Department of Veterans Affairs says Macquarie Mint did not seek necessary permission to use the word Anzac in marketing material for the coin."The letter ... is commercial in nature, as it is designed to promote the sale of these coins, which requires formal permission to use the word Anzac," a DVA spokeswoman told AAP.

 

"Macquarie Mint does not have permission to use the word Anzac for this purpose."

 

The DVA raised this issue with Macquarie Mint on April 21, and the coin maker agreed to remove the word Anzac from its promotional material.

 

The minted coin does not include Anzac but does have a rising sun logo.

 

Further comment is being sought from the Department of Defence over use of this protected logo."

 

 
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Coiners - $10 Rememberance Day Coin from Macquarie Mint