Perth Mint has confirmed that the 300,000 mintage limit for the Ox, Tiger & Rabbit have all been reached. Mouse is now being minted and I'd expect will also reach 300,000. From the Perth Mint today on their blog: "Sold out means that we have made, taken orders for and shipped all 300,000 1 oz coins. In other words, we are no longer supplying the coins via our retail channels or taking any further orders from our distributors and dealers. To emphasize, we do not make any more than 300,000 of each coin. "
Nice on Matthew 26:14! So the best approach would be to buy as many OX, Tiger and Rabbit coins from independent sellers before they go the way of the dragon! Thanks for the update
What do you define as cheap and what kind of premium do you expect such coins will attract in future? If I'm buying 1oz coins do you think I'd be better off going for those with potential collector's value even if the outlay is higher than any old run-of -the-mill 1oz round?
i dont see $36 a coin as "cheap". hence not buying now. might buy at maybe at $30 a coin, which would need approx $25 spot...
Yep, a 2011 coin would drop in price to about $30 if spot went to say $25. But a coin like the Lunars at $35-$40 would be unlikely to drop much if spot went to $25 because of the collector's value. This is why I collect semi-numismatic coins because you are somewhat insulated from spot price falls. But if spot went to say $35 the semi-numi's would got to $40+. If you want 100% exposure to spot price then I'd buy bullion not coins.
Check out the prices of Lunar II Tiger and Ox here in EU. I expect the same price for rat and rabbit in under a year. http://www.silber-corner.de/de/Silber/1-Oz
but are people buying at that price? if silver really takes off, most premiums obtained may evaporate and lunar 2 with 300,000 mintage i would expect mostly would be traded on bullion alone. kind of like why some commentators recommend you "stay away from gold numismatics"... because you're "sucker" paying the premium. but then, who knows how crazy it could get out there in the end.... but i think it's a good move to buy now at the premium of $5 a coin for lunar 2, rather than cough up later any potential higher premium just because you've fallen in love with them, or think they're going to obtain more premium. at $100oz silver, premiums might not be there. kind of like if we were now buying series 1 lunars.. at $80-120 a coin. not generally going to be a good financial move. series 1 has a much lower mintage, and i think they probably shouldn't be considered bullion coins anymore, but numismatics.
I'm a silver seller and people are buying Lunar2. The more expensive it is, the more they want it. At least this is my experience. Few years ago I was selling Lunar1 whole sets for 200, nobody wanted them, because they were few more expensive than standard bullion coins. Today you can easily sell Lunar1 coin for double or triple the price of standard bullion coin, everybody wants them. Sometime stuff has to be expensive for people to appreciate it. It will be the same with silver.
I agree. http://en.wikipedia.org/wiki/Veblen_good In economics, Veblen goods are a group of commodities for which people's preference for buying them increases as a direct function of their price, as greater price confers greater status, instead of decreasing according to the law of demand. A Veblen good is often also a positional good.
There is no limit, but they can only mint them until the end of the year of the coin. That is why 1/2, 2oz.. year of the rat is so expensive, very few were made and they can't make them anymore.
