To me , today $1 To me this time last year $100 To W.Davis $31 At Downies today $99 Is it the "key " , well the series isn't finished So can't be Confused yet
What's a S2 1oz Silver Dragon worth? What was the original release price? If you purchased from the Perth Mint via the bullion web-site on 01 September 2011, full retail price was: $49.25 AUD per coin x 20 $11.03 - Insurance $17.50 - Postage Total $1,013.53 AUD or about $50.68 per coin.
I view it as the key coin due to prices paid and high demand. Of course prices have softened since last year, plenty of reasons why, we all know that. If a person were to sell their 1oz Dragons now at spot + $6-8 they would incur a loss of at least $10 a coin. More if they missed the Mint and dealer allocations and ended up paying more. I paid $53 a coin. Selling at $38 would not be smart stacking, at least not for the seller.
They're not a $38 coin if that's what you're asking, snakes maybe, but not dragons. I have a very hard time believing anyone would sell them for that considering what they cost initially. Even with spot where it is it's a $42+ coin, because like you said, it's the one to have. Would I buy them for that? probably not, but I wager allot of people would.
I disagree with the lowballing buy threads that are popping up (its a completely different matter to someone offering cheap bullion/coins coz they want to move it quickly, eg PM bars at @ $325 a pop). Those members who are promoting this practice are treating the other members with disdain (so why are you surprised that people are speaking their mind in your thread ??) and as a result may very well find they end up on a few SS-ers black lists.
Sell your silver in a mania - a sellers market. Buy your silver when it is no longer the flavour of the month - a buyers market. Not disdain - rather smart investing. I bought a reasonable quantity of non-privy dragons for $39 each today. Danman is currently seeking $41/coin for privy dragons... We're currently in a buyers market - bargains to be enjoyed. Accept it!
For info: Low-ball The low-ball is a persuasion and selling technique in which an item or service is offered at a lower price than is actually intended to be charged, after which the price is raised to increase profits. An explanation for the effect is provided by cognitive dissonance theory. If a person is already enjoying the prospect of an excellent deal and the future benefits of the item or idea, then backing out would create cognitive dissonance, which is prevented by playing down the negative effect of the "extra" costs. http://en.wikipedia.org/wiki/Low-ball
Cognitive dissonance Cognitive dissonance is the term used in modern psychology to describe the state of holding two or more conflicting cognitions (e.g., ideas, beliefs, values, emotional reactions) simultaneously. In a state of dissonance, people may sometimes feel surprise, dread, guilt, anger, or embarrassment. The theory of cognitive dissonance in social psychology proposes that people have a motivational drive to reduce dissonance by altering existing cognitions, adding new ones to create a consistent belief system, or alternatively by reducing the importance of any one of the dissonant elements. http://en.wikipedia.org/wiki/Cognitive_dissonance_theory Hans https://www.youtube.com/watch?v=t0RMGW-w8F0&feature=related
Ok without getting to deep it is worth what someone is willing to pay for it!! Recent e bay sales 45 to 59 non privy privy 40 to 46 when all said and done it probably will wind up the key to the series, dragon is the most popular lunar .........
My stab would be mid to high $40's would be the current market price. Over $50 a bit high and under $40 well.... a screaming bargain. Privy coins I dont think you should pay anything above $40.
Issue price of a one ounce Dragon = AU$804.02 or $40.20 per coin before postage. (bullion bourse). I also overpaid by purchasing from IS Wright at $1200 for 20 and A similar price through ABC.. in both cases i feel like i got wicked shafted.. two of the worst deals in my life.. i still cant believe i paid it.. caught up in the hype.. I never sell at a loss.. so to me these puppies are worth $60 + PRIVY Dragons - anywhere from $35 - $40.. i got a roll at $600 and another at $700 (both on SS) so have no qualms dropping these (but they are a great buy at these levels). Its like the 2012 kook that sold out at around $820 per roll... why would i ever sell these at under $41.. anyone selling coins for less than what they paid are doing fellow investors no kind deed. 1for1
You can buy all the Privy 1oz Dragons you like for $39.50 here. http://www.bullionclub.com.au/produ...Lion-Privy-Mark)-1oz-Silver-Bullion-Coin.html
Hi, its a good question.. my thoughts on this when i penned them were that buy selling at a discount you are sending price signals to the market that that is a current sell price.. if this is a price lower than what others paid or the current market rate then you are putting downwards pressure on the price.. depending on the size of the market that may sound absurd but within SS it only takes a couple of threads to shift prices.. and when only one roll of dragons is being offered per week (for example) than people will base the worth of there stack on current sales on SS (or elsewhere). If you are a distressed seller than you should have allocated less of your capital to investment and had more in cash .. but putting on my captian hindsight hat.. yes if you need to sell there is no way around it. Its basically a case of supply and supplying to the market at a price level which is "below break even"... doing this will make the price equilibrium move. Kinda complicated the more i think about it but its the same reason the MARKET GURUS always reccomend BUY AND HOLD>> if everyone were to slip and be physical day traders secondary market supply would be rampant and would have emmense downwards pressure on prices. Q: Do you invest in coins to do fellow investors a kind deed? (Because surely selling below cost is doing fellow investors a very kind deed they have the oportunity to buy) A: Theory of comparitive advantage covers this.. its good for the individual for gets the cheap silver offloaded by said distressed seller at under original price level.. its negative FOR ALL OTHER STACKERS.. macro effect... more losers than winners. I tend to think aggregate and objectively when i think (its a bit impersonal and chicks cant relate to me but hey! i yam what i yam!)
