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The Perth Mint Unveils New Chinese Lunar Coin

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Perth Mint has an impressive coin edition commemorating the Chinese Zodiac Calendar and this year, they have unveiled their latest coin. According to the ancient 12 year Chinese lunar cycle 2019 is the Year of the Pig. The pig is also the last sign of the Chinese lunar calendar. However, it is not only honoured by the Chinese. The pig is also significant in other cultures around the world.

 

Pigs have been depicted in various forms ranging from the docile domesticated pigs to the fearsome wild boar. Regardless of the form that pigs are depicted in various cultures they all symbolise power, wealth and abundance.

 

To the Ancient Egyptians, the pig was the great mother. It was associated with Isis, the goddess of fertility and agriculture. Pigs were slaughtered and offered to the gods for an increase of the harvest and by childless women who wanted to children.

 

The Greeks also slaughtered pigs and offered them to Gaia who was the equivalent of Isis. They were also offered to Deter and Ares to increase the harvest. To the Greeks pigs were thought to have the intellect that is closest to humans.

 

The Celtic culture also valued pigs. They symbolised prosperity and strength. The pig appeared on money as far back as the 1st Century BC, when it was inscribed on the Celtic silver coin. Celtic lore associated pigs with fertility and abundance because of the rate they reproduce and the large numbers of their litters. Celts sacrificed pigs to the goddess Phaea and Ceridwen who were associated with fertility. The wild boar was associated with masculine power and it’s bristles were believed to possess magical powers. Wild boars were offered as a sacrifice before soldiers went into battle.

 

The pig was regarded as the harbinger of rain by Native American tribes. They were important because rain is essential for a good harvest. Like the ancient Egyptians and the Celts native American tribes revered pigs because they were associated with fertility and abundance.

 

Coming back to the Chinese lunar cycle, the pig is a symbol of prosperity and luck. People born in 1923, 1935, 1947, 1959, 1971, 1983, 1995, 2007 and those who will be born in 2019 are ruled by the pig. The people born under this sign are considered as generous, loyal and honest. This could also mean that 2019 will be an auspicious year, especially for those born in the year of the pig.

 

The first series of the Chinese lunar calendar coins was launched In 1996 starting with the year of the mouse. Altogether the Chinese Zodiac has 12 animal signs and the pig is the last one. The first 12 years were called the Lunar I series. In 2008, the second series was launched. This 2019 Year of the Pig coin is the last in the Lunar II series. The coin features a domestic pig with beautiful foliage behind it. The Chinese character for pig is inscribed on the coin as well as the traditional ‘P’ for the Perth mint. There is an effigy of Queen Elizabeth II, the year, weight and fineness inscribed on the other side of the coin. The coin is struck from 99.99% gold and is issued as legal tender according to the Australian government’s Currency Act of 1965. The mint plans to make 388 proof coins which means they will be amongst the most sought after coins by coin collectors.

 

Source:

  1. http://blog.perthmint.com.au/tag/australian-lunar/
    https://www.moderncoinmart.com/info-vault/Lunar-Themed-Coins-Popular-with-Modern-Collectors.html
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The Volcker Rule and its Effects on the Precious Metal Industry

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Before moving on into the topic of how the Volcker rule affects the precious metal industry, it is crucial that the Volcker rule itself be understood first. The Volcker rule is basically a reformation act that restricts the banks in the United States from taking high risk investments, especially high risk investments that do not benefit the customers of the bank. In view of the major scandals involving banks using people’s money to make short term gains that saw profit flow into the banks but not to the customers, but when things go wrong, the customers bear the burden of the loss.

In other words banks are prohibited from investing in short term or long term hedge funds, speculative markets that are highly risky and it also prevents banks from investing in the precious metals industry (gold bullion / silver bullion). Banks are currently actually looking for loopholes in the legislation rather than comply to it, but according to the legislators the loopholes do not exist. How this would affect the precious metal industry is multi tiered, as some analyst say that banks are the biggest buyers and sellers in the precious metal commodity trade industry and that they are the main ‘market forces’ applied through hedge fund managers and their absence would create a huge void in demand and drive prices down. On the other hand there are those who believe that the absence of these speculative strong forces would provide stability to the prices of gold as most of the trading done by these market forces are for short term gains and in retrospect most of the gold bought by them are never held fopr more than a few days.

Looking into the average investor who looks towards the shiny yellow metal as a safe haven to secure wealth, the absence of these speculative forces will actually bring about the true essence of the gold value and allow the average investor to sleep peacefully knowing that there are no hedge fund managers trying to manipulate the gold market prices. Many have applauded this move, especially the savers, as many have seen what has happened in recent years to big financial institutions that were financially ruined and in the process ruined many other lives of individuals who had trusted these financial institutions to keep their life saving safe.

The reformation brought about by the Volcker rule is expected to bring confidence back into the precious metal industry as smaller investors will no longer have to contend with big players who use other people’s money to fill their coffers. Nevertheless, prior to this there have been numerous other ‘so called’ rules that were supposedly supposed to protect the small people, however in light of what transpired during the global financial meltdown and other similar situations, how long this rule lasts before it is overwhelmed or manipulated by the powers that be would not be long, and those who want to place themselves within the safe zone amidst a financial crisis would typically be the ‘Average Joe’ with a fistful of gold.