Hi all, have you missed me and my endless questions? Well here's a new one. :lol: I really like the NYE 2016 Sydney $1 coin and there is only a 5000 mintage .. but is it worth the $60 price tag?
If I knew the answer I wouldn't be asking the question. It has got less to do with justifying the price tag and more to do with understanding why the high price. I am fairly new to coin collecting and have come here for advice so I can understand better why there is such a high price tag and what the collecting value is.
In terms of basing the price on silver content it is a rip-off. The reason for the mark up in the price of this is obviously due to the numismatic value of the coin. Buying numis you have to take in account that they are not as liquid as low premium silver and they are very much subjective in terms of the price hence I said ask your self. If you like it and you can personally justify the $50 mark up then go for it and buy it, but don't expect to always sell it for the same price. Hope that helps you.
Best thing to do is check current prices for the previous 2 coins on places like EBay. 2014 one was being sold for $120 at some coin shops so if it was the same issue price, not a bad result. It is a 10 series coin so the first few will usually perform the best. Personally I'd pass on it.