These are retailing for $2990 aud on Perth Mint(free shipping). Obviously available for less. $2700 at Bullion Bourse for example. They are currently on special with Apmex for USD $1943. This does not include shipping and GST on arrival to Australia. http://www.apmex.com/Product/64211/2012_1_oz_Proof_Gold_Lunar_Year_of_the_Dragon_Series_II.aspx This doesn't inspire any confidence in the purchasing of gold proof Snakes at current prices. Just wait for the Apmex discount in one year time. Just a thought for others that are contemplating a purchase.
How can they justify charging (or buyers buying) $1400 over spot!? I don't think I'll ever understand this 'proof' phenomena.
Lunar proofs. A lot of money to be made and lost. Picking what releases will be popular, and hence will go up in value, is function of art, science and luck. I am sure there is an equation here somewhere.
The gold proofs are historically always a flop don't think I've seen one ever sell with a premium. The silver 1oz proofs perform quite well as do the 3 coin sets (series 2 that is) that's probably where my money will be oh and the 1oz bullion of course.
I don't think you should buy them as an investment, rather a "nice to have". We bought one early on for $2888 for our new born daughter (dragon year)...it's for her when she is older and not for our speculation so price didn't really matter. That's where the premiums come in - what is a buyer willing to pay so they don't miss out?
Interesting a big Euro dealer has just dropped the price of the 1 oz silver dragon which they still have from release by about 20%. For all the talk of the demand/supply they are still easy to come by at the inflated rates and not on the secondary market. As I've said before where was all this dragon demand when they couldn't even shift 300,000 of the one everyone so say wants? Really glad I didn't bother.
