Hey guys will the proof dragons increase much more in price? and can anyone estimate when? or sould i sell mine now...
I tried selling now i'm going to wait till January to see what happens. There's something wrong when you cannot sell a proof, coloured and guilded 1oz for $440 delivered.
I am hoping they will go up quite a bit more. I can sell them now very easily for $35 profit but if you want to realise their full potential it might be worth holding on a bit longer, it just depends on how much you think you can get them for and what profit margin you want to make on them. If you hold onto them for a few years they will go up with any luck.
I did but have since removed the listing as I hate paypal. Much prefer to find a silverstacker to trade with.
I am not sure about proof coins for S2, but will try to get one. when they are up for sale, just click online for the Ox may be my first start.
the market is flooded and the Perth Mint has done an excellent job at marketing them. The Proof Uncoloured 1 oz at least $200 as a floor. The coloured and gilded are a bit of a gamble IMHO.
Coloured & gilded 1oz are dead in the water right now - I did signal this a while back on a thread - in a matter of a week the Coloured 1oz dropped off a cliff from 190 > 140's on fleabay - putting mine away for 6 mths - I've actually got more demand for the 10oz bu drags, so not all bad.
just be patient, let all the dealer coins find homes, then im guessing all the dragons will appreciate nicely.
If you are wanting to buy coins, have them posted to you and then try to flip them a few weeks later for a profit.... might I suggest getting out of that as an idea and look at day trading paper silver, stocks, option, warrants, CFD's, ForEx and anything else that is instant in this internet world? All of the above are speculative bets really, not investments. Trying to buy a numismatic coin and selling it a few weeks later is a speculative practice that in my opinion rates well below other alternative day trading options.
It's all about supply and demand and at the moment, the supply side is severely overweighted with too many flippers (esp with the coloured and gilded). Just have to wait a while and in my opinion, the price will appreciate
sell them why you can and then buy them back later cheaper (except the uncoloured proof). They are harder to get...
Sell em.. they are junk like all perth mint coloured junk... but the dragons are very pretty junky.. Dont see why stackers are so keen to be parted with copiuous amounts of fiat for a coloured advesive over the standard design. I will be waiting to buy at bullion prices when these are sold off at spot in a year or so - well thats the only way ill be getting them. 1for1
Agree with Matthew on this. Maybe collectors who bought the Year 2000 Proof Dragon can share how long did they hold on to their coin before they had a 100% paper gain. Looking at market situation, the 2012 Proof Dragon doesn't look like it's going to go above $300-350 right up to the Lunar New Year and silver spot is not helping. The peak of 'Wave 1' is done. Pull-back is expected and another charge up above $350. Justin would have to decide whether he should take less profit, cash out, switch to another coin that he sees more upside than this. A true collector would keep his coin, take it out once awhile to admire it, put it back, knowing or unknowingly, let its value appreciate gradually. As for 1oz colored proof & gilded, prices will remain low for now as 'Wave 1' is done too and would probably creep up even slower than the proof for a very good reason that Perth Mint is not the only one selling. Singapore Mint sells the colored proof for S$158 (~A$120) ... and this is only ONE avenue that I know. I'm sure there are lots more.
I have 2 x Silver Proof Dragons, got them from the PO 112.50ea so profit is there! might keep them till i need money! thanks for opinions guys!
Hi, im sure there is somewhere in the world, for that to happen someone must have made a serious loss, I have picked up a lunar coloured ox (unhoused for spot + 5%) and other perth mint product - famous battles, sea creatures etc. In my post i was alluding to "what is more likely to appreciate in value bullion vs proof" The oppertunity cost of buying proofs is foregoing the expenditure on bullion or some other product. I personally think the coloured lunars are more likely to LOSE value relative to there inital offering RRP whereas i predict all bullion lunar to appreciate over there intial RRP. So to answer the original posters question and to back up my original sentiment sell your proofs for bullion as its the better investment vechile, however you would be wise to do the quick flip methodology (As Matthew 26:14 so well stated) should you oppertunisitically wish to flip some proofs for a profit: WARNING: the Perth Mint delays shipments so make sure you have product in hand before selling cos thats one way of getting wickidley burnt! Cheers. 1for1
