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Sunday, August 10, 2008

New Zealand Mint

This write up of the New Zealand Mint explains exactly who the New Zealand Mint are and what they deal in and is well worth reading before you decide to buy any gold or silver coins from the New Zealand Mint.

As always, it is prudent to do one's own due diligence before buying gold from any gold dealer or mint.

Who are the New Zealand Mint

The New Zealand Mint, based in Auckland, New Zealand, is a private mint and has been minting legal tender commemorative coins, gold bullion and medallions since the 1960s and was also one of the first world mints to adopt the .9999 standard for gold coin purity

Mark Sutton, general manager of the New Zealand Mint, has indicated that the mint turns over $30 million a year in products and estimates it should hit $50 million in turnover in the coming 12 month.

According to the Wayback machine, the New Zealand mint website has been operating from Sept 2002.

All gold coins minted by New Zealand Mint are certified to be .9999 pure. New Zealand Mint only uses gold that has been refined to the international standard of .9999 pure.

New Zealand gold is generally sourced from all major mines throughout New Zealand. The country's primary gold production areas include the South Island's Otago, the West Coast and the North Island's Coromandel region.

The New Zealand Mint also mints coins for legal tender releases such as the Conquest of Everest series minted under the authority of the Government of Nepal, Fiji Historic Pure Gold Coin minted under the authority of the Government of Fiji, and the Endangered Asian Pacific Wildlife series minted under the authority of the Government of the Cook Islands. They have also undertaken special minting work on assignment for overseas corporate companies as well.

New Zealand Mint Products
Over 150 years ago New Zealand's first gold nuggets were discovered on the banks of Coromandel's Kapanga Creek. The year was 1852, and at the time New Zealand was experiencing its first major influx of European settlers so New Zealand has also had its own ‘Gold Rush’.

New Zealand still has an active gold mining industry with the annual gold production of almost 12 tonnes a year. Gold is found both in the North and South Island bound up with rock in the North and South Islands and as small nuggets or flakes of alluvial gold in the South.

The New Zealand Mint also issues a Certificate of Authenticity with every coin it mints.

Currently the New Zealand Mint carries the following products:
1oz Silver Bullion Coin
1oz .9999 silver bullion coin
Gold Kiwi Coin 1oz
1oz .9999 Gold bullion coin
Gold Kiwi Coin 1/2oz
1/2 oz .9999 pure gold bullion coin
Gold Kiwi Coin 1/4oz
1/4 oz .9999 pure gold bullion coin
5 Troy Oz .9999 Gold Bar
5 troy oz .9999 pure gold bullion bar
10 Troy Oz .9999 Gold Bar
10 troy oz .9999 pure gold bullion bar
1 Kilogram .9999 Gold bar
1 kilogram .9999 pure gold bullion bar
1 Kilogram .999 Silver Bar
1 kilogram .999 fine silver bullion bar
5 Kilogram .999 Silver Bar
5 kilogram .999 fine silver bullion bar
Also still available at the time of writing.
Scott Base 50th Anniversary Gold Coin Beautifully crafted $1 mini Gold Proof coin celebrating 50 years of Scott Base in Antarctica 1/2 oz .9999 gold proof coin 25.1mm diameter Limited mintage of 500

ANZAC 90th Anniversary $1 Silver Coin Set. A set of two .9999 gold proof coins, one issued by Australia and the other by New Zealand. 22 Carat Gold $NZ10 Proof Coin Weight:39.94gm, Dia:38.61mm Limited Edition of 300
1/4 oz proof quality .9999 pure gold legal tender coin issued by Kingdom of Nepal.
Limited Edition of 2,000.

Mikado Pheasant Gold Coin coloured legal tender coin - 10gram .9999 gold, 25mm diameter.
Limited Edition of 1,000 Black-faced Spoonbill Gold Coin
Coloured legal tender coin - 10gram .9999 gold, 25mm diameter. Limited Edition of 1,000

1/10 oz proof quality .9999 pure legal tender coin from Fijian Gold, 16mm diameter. $10 face value.

1/20 oz proof quality .9999 pure legal tender coin from Fijian Gold, 13.9mm diameter. $5 face value.
And many more.

Buying from the New Zealand Mint
The first time you buy from newzealandmint.com you will be asked for a number of details to create an account. This is a simple matter of providing some information, a user name and password so you can log in to your account and you can select gold coins to place in your shopping basket.

Buying is just a matter of selecting the gold cons you want to buy and placing them in a shopping cart.

The New Zealand Mint accepts standard credit card payments

Also for purchasing bullion the following applies:

Once you know what type of precious metal, gold or silver, you want to buy and how much, you simply call the mint by phone and you will be quoted a ‘spot price’. Once you agree to the price you will then need to confirm this by requesting a contract. The contract will state the agreed price, quantity ordered, applicable shipping costs.

You will get a copy of the contract which you will need to sign and return and fax back to the mint within the hour to ensure it is accepted.

Once you receive the contract (either by fax or email), review it carefully, sign it then fax back to the Mint on Auckland 377 6836. All contracts you sign must be returned within one hour of receiving the contract.

Having done that payment must then be made and this is done by transferring the required funds by telegraphic transfer to the New Zealand Mint bank. A copy of the deposit slip (or payment confirmation) must also be faxed to the Mint on the same day the contract is raised.

You should also fax the transfer confirmation also.

If the confirmation of the payment is not received on the day of issuing the contract the Mint will cancelled the order and you will be liable for the difference between your agreed price and the Mint's sale price of the liquidated bullion.

Payment can be made in NZD$ USD$ or AUD$.

Within 15 working days you will be able to either pick up or have the gold shipped to you.

The shipping charges, which include insurance are, $30 within New Zealand for gold and $30 dollars for 5KG of silver.

The Mint also offers a secured and insured allocated storage programme.

All orders are shipped on a door-to-door basis and can only be shipped to street addresses (not PO Boxes) only. Delivery will require adult identification, signature and proof of delivery from the addressee at the time of delivery

Note that there are NO refunds, returns or exchanges on precious metal purchases by or from the New Zealand Mint.

Last word on the New Zealand Mint
It should be noted that buying gold and silver coins from the New Zealand Mint has the security that you are buying genuine and real gold and silver coins. Of course you will pay top dollar so this is really for collectors only and not for gold or silver investors who’s time and money would be better spend seeking out gold and silver bullion, preferably in large quantities to reduce the premium. In addition one can invest in gold and silver by owning it and not having the hassle of storage and transport issues, by going to goldmoney.com and opening an account there.

If you have bought any gold coins, silver coins, gold bullion or silver bullion from the www.newzealandmint.com, please feel free to leave feedback on the quality of service and products you found, including any www.newzealandmint.com online complaints and special attention or service given by www.newzealandmint.com.

1 Comments:

Anonymous Anonymous said...

I live in New Zealand and have dealt with the N.Z. Mint for many years.
The service is very good although a little more impersonal now they have moved into new purpose built premises.
I also note the premium is 9% on their Bullion 1oz Gold Kiwi, with no haggling below a 50 coin minimum purchase!
Still, it's a good company to deal with, and shipping is reasonably priced and speedy.
Cheers, Nigel

August 19, 2009 1:58 AM  

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