Donald Duck coins snapped up

MICHAEL FIELD
Last updated 14:53 01/07/2014
Donald Duck coins
QUACKERY: The 80th anniversary coins were snapped up by collectors.

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One thousand Donald Duck gold coins made by New Zealand Mint have sold out in 10 minutes and are now being resold on auction websites around the world for a 100 percent profit.

The Auckland firm minted the limited run coins to mark the duck's 80th birthday, along with 10,000 silver coins, and put them online for sale at midnight last Thursday.

Sales and marketing manager Brent Hindman says there are only 500 silver Donald Ducks left.

But while they are celebrating the success of the coins, which are legal tender in Niue, it is not such a happy scene for a rival mint that has coined silver coins for Tokelau this week. Collectors around the world are angry over quality.

For Hindman the Donald Duck coin has been a raging success, with many unhappy people who did not move quickly enough.

"We have been fielding calls for the last three or four days," he said.

"People are sending photos of themselves at Disneyland, pleading for the coins."

But there are no more at New Zealand Mint - that was the deal; limit the number.

"We like to keep the market a little bit hungry."

One thousand quarter ounce 99.99 per cent pure gold and 10,000 one ounce 99.9 per cent pure silver and Donald Duck coins have been produced.

The gold $5 coins sold for $755 each. Several are now on Ebay at a fixed price of $1400 - others are under auction and getting a lot of bids.

The silver $5 coins sell for $108 and Hindman says they only have 500 left.

Dealers want to buy them out, but the mint is keeping them for individual sales on their web.

More Disney coins are coming, but Hindman is keeping them under wraps for now.

The New Zealand territory of Tokelau is having a less successful time with its $5 Silver Kakahi Yellowfin Tuna Coin released this week to coincide with a major Pacific fisheries meeting on one of its atolls.

New Zealand is represented at the meeting by former Labour MP Shane Jones who is charged with getting Pacific nations better at making money from fish.

Treasures of Oz mint in Perth have produced a million coins $5 for Tokelau, each with one ounce of .999 pure silver. They sell for $22.

With just 1200 people on the three lonely atolls north of Samoa, that works out at 833 coins per person.

But US dominant dealer, Modern Coins Mart, has warned people off Tokelau Tuna. 

CEO John Maben says he was issuing a notice in the interest of fair disclosure.

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"This is a bullion coin not intended to have numismatic value," he says.

He says bullion coins usually rate as Mint Scale 69 on a scale of one to 70.

Tokelau Tuna comes in at MS65 which, says Maben, is "still acceptable for a bullion coin but not as high grade as many others.

"It's a great design at a great price, and they have a proof-like appearance, but if you only buy highest appearance quality bullion, these are not for you."

Tokelau, which is propped up by New Zealand, is trying to break into the bullion coin market and has already issued Year of the Horse coins.

- Stuff

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