Ive always been a bar man but branching into coins now too. Question - why are the Perth Mont kookaburras a whopping 400% the price of some of their other coins of the same weight and purity - eg; 1. Kookaburra coin at $105 - https://www.perthmint.com/catalogue...a-2018-1oz-silver-proof-high-relief-coin.aspx 2. these ones at about $26 - http://www.perthmintbullion.com/jp/Buy-Silver-Coins/1oz.aspx?size=18 Cheers
wow ok thanks for the heads up. That said though - if you could get em for just a bit over regular bullion (say just 10% more rather than the insane 300% markup as per Perth Mint prices) - would you go for it - or even then still prefer the 10% cheaper bullion coins?
If it's cheap like that then I would buy it but only buy it if you like it and don't mind losing premium on it.
I hope most people here would have learnt not to buy any numismatic stuff. I've learnt the hard way buying 2012 colour 1oz dragons for $150 and stupid 2012 Mayan coins for $100 for 1.6oz silver.
Thanks for the heads up ! I can buy them overseas for about $30-$35 AUD at the moment - would you get em at that price (considering the Mont price is $105) or just get the $25 regular bullion coins?
I'd just get the regular bullion coins, save every dollar premium you can. Nothing wrong with buying Kook's etc, they are poprlar and will resell easy, but all "proof" and special "privvy" variety coins etc are just for collectors, and really can only be sold to other collectors who are interested in them. If you try and sell them to dealer you'll only ever get spot for it, and selling on places like here or on ebay is a very limited market and it takes time to find a suitable buyer. Not good if you have to sell in a hurry for some reason. The smart metals investor only buys name stuff as close to spot as possible. But once oyu get close to stop then any metal will do. And by "name stuff" I mean stuff that has a name locally in your country. So for Australia that means Perth Mint or ABC as the big two, but there are others.
Almost always nope. Maybe you'll occasionally get lucky and a special privvy coin or whatever will become popular and surge in value for whatever reason. But the hype usually only lasts a while and you have to cash out at the right time to make you gains. The longer you hold onto the proof coins the more worthless they become as people don't care any more.
Proof coins are subject to GST and are not considered investment grade by the federal government. Can’t be added to a Self Managed Super Fund.
It’s important to be wary of numismatics but sometimes they do well. At the higher end, when bought well, they can be very rewarding. Even at the lower end, sometimes it is a matter of timing. Right now for example, Kennedy halves at APMEX are a staggering USD $10 each, or $1800 for a bag of 200 coins, yet the roll of proof coins has not changed at all. It is going for 300 for 20 coins just as it was before. So that’s USD $15 for a proof versus a standard BU for $10. This is a bit like the cleaning out of the pasta and rice from the shelves while leaving the chocolate untouched.
