Are people too focused on Pandas and Lunars here ?

I'll be getting rid of a few bars I paid a premium for.

I am annoyed at allowing myself to pay slightly more for prettyness... I looked at them once, then they went away...

 

So now I'm interested to see what happens when I move prices a little closer to spot - but still under... (I'm quite surprised, I mean, it's almost like a negative premium brings a negative response). I'm sure if the same weight of metals were panda or lunars, these would have gone in seconds...

 

I took a look at your offers, I didn't really recognise any of the coins so I figure if I didn't know them I would have the same difficulty selling them on to other people. The value is there but the liquidity isn't. If they were lunars they would be instantly recognised and people would have an idea of what they were worth and they would know they could sell them in a heart beat. Pandas I am not so sure of as most people seem to be suspicious of them.

I saw about $120+ worth of predecimals go for $100 at the Brisbane meet, only one person was interested enough to put in an offer. Last year I would have snaped up pre decimals below spot but I too have Dragon Fever.

 

Yeah, I chose stuff that was a little obscure to test exactly that point - do easily recognisable pieces command a better premium than rarer, less recognisable pieces? It seems not all gold and silver is as "fungible" as it might appear....

 

^ dude I'd be hitting that kina up if I didn't go on a fiat incinerating spree last week, and didn't need new tyres tomorrow

 

Thanks Silvertongue, I think you got the whole point of the initial post, this is not meant for the seasoned stacker who has a core position and then wants to diversify a little with Pandas and Lunars etc... Which BTW I have as well, but I do have a core stack that is solid and then I have what is trading at the moment and with the prices some of them are absolute bargains. Like yours, Gold under the spot WTF... to me it is a case of get a core as cheap as you can and then diversify or take the punt with less oz's and buy at a premium ?

It must be the competition driving prices as we know you never get anything for Spot, this is a price that is traded on paper. However here we are creating a precedence that just wasn't there 12-24 months ago.

So far the response has been mixed with great points both for and against.

As an interesting reference point seeing there is a lot of information regarding growth etc... I looked into one of my old coin references and if you purchased a 1930 Australian Penny in Extra Fine condition in 1966 you would have got it for $800 that same coin today has a book value of $140,000 I will let the maths guys do the sums on that one.

 

Gotta love that penny!

Amazing little fella... not even made of silver.

 

If I wasn't all the way in Canada I'd be snapping up anything below spot, the only time I've gotten stuff below spot is when the seller didn't know the current spot or value of the coin they were selling. Pandas and lunars are cool but the only place I can buy them around here (that I've found) lists 2011 pandas at 50 and Lunar rabbits at 51 and they don't have dragons. I bought a couple but until I have my core stack of say 500 oz. I'm gonna resist the tremptation to go heavy on numis.

 

Yeah, if you live in America, the fall in the USD may be increasing the price of Pandas over Maples and ASEs more than usual.

If the USD falls, the Yuan/RMB generally appreciates, increasing the cost of the Pandas (also increasing the profits for those who have them).
If the USD rises, the Yuan/RMB generally depreciates, decreasing the cost of the Pandas (decreasing the profits of those who have them).

Fortunately for us Aussies, the AUD has been doing very well lately, and allows us to buy Pandas at only about 7% more than ASE/Maples.

 

As an end to my little experiment - the items in question did sell for around 10% under spot. (Well done the buyer).