New Eql Ballot System

If a mint strikes an issue for collectors only, with numbers restricted, and the price much lower that what they think the market car bear, then I think the a ballot system is the fairest way to go.

Proof of the pudding would be shown in the price of the issue in the numismatic after market.

I think the interest of the coin collecting community has been forgotten and replaced by the corporate interests by the RAM - if there is a demand for a product why not mint more of the coin? The the higher the mintage the lower interest for speculators trying to profiteer - and that way the collectors can get the coins they want without paying exorbitant prices for them

I am suspicious of how fair and well executed the EQL RAM releases really are..

They claim that say 7500 of a coin is all that is released (ok that's fine) but that they have this great secure system to ensure fairness, 1 per person maximum chance etc etc

But then after every release there are maybe 2-3 dozen people on ebay with stock of 10, 20 30 each of these highly limited coins for sale at 5-10x the original price within days of the release. They are generally marked as pre-order and shipped out after the RAM/EQL stock has been sent out..

So if the system is so 'fair' I don't see how that is possible if there are not large flaws in the system/draw being taken advantage of?

I work in IT and have worked on systems like EQL, that people try to abuse through many many fake accounts, and know it isn't easy to defend. But we take very seriously seeing that kind of activity, which would highlight that the system has issues, but with EQL this seems to happen time and time again?

Or is something else going on? is only a portion of the 7500 put through EQL and a big chunk is sold direct to stores/dealers/etc and then scalped by them on ebay?

Never underestimate the power of human ingenuity
It does not take much for an individual to gather 20 - 30 people with different addresses and emails to purchase a coin, then go around gather the coins, pay individual a nominal fee and list on ebay and gain a hefty profit

Profit is a good motivator

The release of coins by mints in the modern world today has no pity for collectors - it is profit driven

And since profit is the main motivator both the Perth Mint and Royal Australian Mint will only pay lip service to the issue yet nothing ever seems to to solved - even EQL can be misused as I have outlined above

The only solution is for collectors to stop buying coins - probably never going to happen so the problem will persist

Only demand will change things and whilst there is demand for a coin I do not honestly think anything will change - logic being why would it? Mints are making money, sellers are making money so why stop a thing that is profitable

That's my opinion

Yeah I experimented on the last release and had a dozen family and friends enter the EQL for me all for the silver animal $2... None of us got one and be damned if I am going to pay a scalper for one.

My assumption is only a portion goes to EQL and many go direct to dealers who scalp them on ebay. Unless people have thousands of entries to guarantee they get a few, but that would suggest EQL is horribly broken and useless.

I have just decided that I will collect the regular circulated ones (in UNC) and the C mintmark UNCs but not going to collect the "special" silver ones.

I decided they simply don't exist to me as there is no way I want to reward these people, but it really stinks..

For the C mintmark rather than join the EQL I am finding it is better to chat with your local post office and get them to reserve one for you.. Because even the C mintmarks will sell by mint and auspost for $22 but on ebay (and dealers websites) the next day the dealers, who do get boxes of them, are all selling them for 2-3 times the RRP.

I'm just a bit bitter at the mint they treat collectors like this.. ;-)


Ohh and thanks JBuck..

G'day everyone, hope you're well. I am unsure of previous methods but I was in a cue still for the latest release and as I work when my cue number was called I was in a ceiling and when I finally got out everything was already sold out. I had a 6hr wait. I did find a dealer who had purple $2 C mint marks for $40au free postage. have a great day.

Hi CE,they all with Wynyard Coins,Brother,Sister etc.,we also had a couple with the RAM ballot but no luck with any of them.

I'm not worried about buying these trinkets,I've always concentrated on OZ pre-dec.

Well, if I can believe what EQL keep telling me that after missing out on so many of the latest releases, that my chances of success improve at each release, then I must be a definite certainty on the next one! No, I don't believe them. However I still think the ballot system is far better than the RAM's stupid queue system. I guess we will see what happens next time?