Australian Gold Lunar Horse 1 oz Series 1 2002
2002 Year of the Horse
The Australian Gold Lunar Horse 1 oz Series 1 2002 is the seventh coin in The Perth Mint Australian Lunar Series. All the gold coins in the Lunar Series are .9999 fine gold, and each coin comes individually encapsulated in a plastic protective capsule. The Lunar Series silver coins also are .9999 fine.
The Australian Gold Lunar Horse 1 oz Series 1 reached their production cap of 30,000 and now sell at premiums in the secondary market. The 2000 one-ounce Gold Dragon is the only other coin in the Series to hit the production cap so far. The Year 2001 Gold Snake looks poised to sell out sometime in 2006.
People born in the Year of the Horse are popular because of their admirable attributes. In addition to being cheerful, skillful with money, and perceptive, they are wise, talented, and good with their hands. Sometimes, however, Horse people talk too much and have a weakness for members of the opposite sex. Independent and rarely listening to advice from others, Horse people are most compatible with Tigers, Dogs, and Sheep.
Besides 2002, other Horse years include 2014, 1990, 1978, 1966, 1954, 1942, 1930, 1918, and 1906.
Limited Production Coins
Another reason for the Australian Gold Lunar Horse 1 oz Series 1 popularity is that they are limited production coins. In contrast, Gold Eagles, which are the world’s best-selling 22-karat gold coins, and Gold Maple Leafs, the world’s best-selling 24-karat gold coins, are unlimited production coins. The 1-ounce Lunar Series gold coins are limited to 30,000 coins for each year and clearly have become collector favorites.
The Year 2000 1-ounce Gold Dragons, the 2001 Gold Snake and the 2002 Australian Gold Lunar Horse 1 oz Series 1 have reached their productions caps and are no longer being produced, so availability is limited to the secondary market and these coins carry premiums over the coins within the series that have not reached the 30,000-coin production cap.
Another feature that makes the Australian Gold Lunar Horse 1 oz Series 1 so popular is that The Perth Mint can produce back-dated coins until the production cap is met. This means that the earlier coins are still available and can be purchased near bullion coin prices, permitting collectors who learn of the series late to acquire the earlier coins at bullion coin prices. The policy of minting coins from earlier years is unique to The Perth Mint and for only the Lunar Series coins.
Somehow, 30,000 became a magical number for the Australian Gold Lunar Horse 1 oz Series 1. The number is large enough for broad investor interest but small enough that at attainment of production caps, they pick up premiums.
Shortly after the year 2000 1-ounce Dragons reached their production cap in the summer of 2001, they picked up premiums in the secondary market. The year 2002 Australian Gold Lunar Horse 1 oz Series 1 reached the production cap in the spring of 2005 and also picked up premiums in the secondary market. However, the 1-ounce Gold Dragon carries the highest premium, the dragon essentially being China’s icon. The year 2001 1-ounce Gold Snakes has also hit the production cap and may experience a likewise increase in premium.
Queen Elizabeth II Matures
By law, the Lunar Series coins have to display the image of Her Royal Majesty Queen Elizabeth II on the obverse. When the series started in 1996, the official likeness of the Queen was younger. In 1999, however, Buckingham Palace changed the official likeness to a mature Queen, which is carried forward into the Lunar II series.
The change resulted in the first three years’ coins (1996, 1997, and 1998) having the image of the younger Queen Elizabeth and with the later coins having the mature image. In years to come, after the Series has closed, this uniqueness could stimulate greater interest in the Series in Great Britain and those countries that used to be part of the British Empire.
Visit GoldDealerCA on You Tube to see our informative videos on precious metals.
Visit lunarcollectorcoins for more info on the lunar series