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Default Reference error in excel

I have data in Column A of Sheet1. In Sheet2, I have the following
formula in cells A1 and B1

=MIN(Sheet1!A:A) =formula in cell A1
=MIN(Sheet1!B:B) =formula in cell B1

When I cut the values of column A in sheet1 and paste in column B, the
formula of cells A1 and B1 change as given below.

=MIN(Sheet1!B:B) =formula in cell A1
=MIN(Sheet1!#REF!) =formula in cell B1, thereby giving me error.

Please let me know any way to overcome this error. Is there anyway to
lock the fomula in cells A1 and B1 of sheet2? I know that copying the
values of column A to column B and then deleting the values of column
A prevents the formula change in cells A1, B1. But, is there any way
to restrict this for the cut operation?

Thanks

 
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