Orders have maxed out for 2014 Australian Saltwater Crocodile Silver Bullion Coins, the Perth Mint of Australia announced late last week. The 99.9% pure silver coins launched about three weeks ago and had a mintage limit of 1,000,000.
"Phenomenal interest in the 2014 Australian Saltwater Crocodile means that The Perth Mint has now received committed orders for 1 million coins," the bullion Blog Team from the Perth Mint said on May 29. "As a result, this release is no longer available for sale to wholesale or retail customers. An announcement about the coin’s sell out at the Mint will be made shortly, pending the manufacture and delivery of remaining coins in the mintage."
2014 Saltwater Crocodile silver bullion coins were available from the Mint in multiples of 25, and come in protective acrylic tubes sealed with a tamper-evident security seal. Monster boxes include 20 tubes or 500 coins. The coins were offered at $5.00 over spot for quantities of 25. That price was discounted to $3.95 for orders of 500 coins or more. They are currently available from major coin and precious metals dealers.
"The speed with which the market has responded to this release has surpassed all expectations," the Perth Mint added.
Reverses of the bullion coin feature a profile of an opened-jawed saltwater crocodile with jutting teeth. The reptile has more than 60 of them. Inscriptions around the design include AUSTRALIAN SALTWATER CROCODILE, the 2014 year-date, coin specifications, and the Perth Mint’s "P" mint mark. Obverses, as Australian legal tender, have the traditional effigy of Queen Elizabeth II by Rank-Broadley with inscriptions of ELIZABETH II and the coin’s $1 denomination.