Guys am intrigued as to the value of 2 oz dragons, do you think some think because the 1oz fetches $70 that the 2oz should fetch $140? Are they not aware of the mintages or are they speculating the unlimited mintage may be cut short? I'm pretty sure PM go back into production in November for 5 and 2 oz?
yeah I thought it a good discussion, as we know its rude to interject in threads but do you think its ok to publicy raise these topics?
We can easily observe that $140 asking price is too high on the forums simply because there are no bites. At that price level there is clearly no or minimal demand which leads me to believe that it is overpriced. Considering you can now get a 1oz Silver Dragon with limited mintage for around $65 each it makes no logical sense to pay $70/oz for an unlimited mintage coin.
These are snippets from a Perth Mint email dated 5th September. Can't reproduce the entire email, but the salient points are: Note the use of the word temporary. Twice. I'm gobsmacked at some of the prices being asked (and paid) for 2oz and 5oz Dragons. They will be available again soon - and in quantities only limited by the Perth Mint's ability to strike them. Paying numismatic prices for bullion that's going to be available again shortly is nuts.
Just checked the Perth Mint bullion website. http://www.perthmintbullion.com/au/Buy-Silver-Coins/2oz.aspx?size=19 Current retail for a 2oz Dragon (if they were available) with ASK spot at $32.64 is only $83.28 - that's $9/oz over spot. They will be available again at those premiums.
Yep they will be back at bullionbourse etc for about 70 a pop by years end assuming current spot prices
but right now, we can not even order them... ? when will they start accepting orders again? if the time is more than one month, then by then we may have spot price back up near 40s again spot + coins premium + up and down on silver price risk. by then it can be 80-85 each coins on the high side
If you are concerned about spot going up you can always put your money into kilo bars now and then shift it to dragons later when they are minted, then you'll only pay the premium the mint charges for the coin, not some outlandish price.
no idea with current worth, but say may 2 X 1oz dragon=1 X 2 oz dragon I think some online shop list 2 oz last mouth around 80-90 ea
I don't think so. I have walked into the mint and asked if they have any available and (also asked about 1/2 oz) and they are both unavailable. They will be producing more and will probably have them before the end of the year but there is no official word about that.
ok if they are not short of silver, i cant see why pm they cant just keep on making the silver dragon bullion coins 1/2,2,5 oz , 24/7, unless some billionaire bought a couple of billion dollars worth of silver bullion coins , that will keep it at full capacity for the smaller sizes till the product expires.
They would have also been minting all of the various dragon proofs in 1 and 1/2oz. They also produce a number of coins for a number of other countries. It's not the kind of business where new equipment can just be banged together to increase output either. I think I remember Ron saying it would probably take at least 12 months from ordering equipment for it to be ready to go.
