495 $ for 5 oz's silver is just madness me is thinking how much is the premium? i like the kook and the dragons but not at that price risk V reward not worth the gamble!!
This coin is meant to be a collector item. People will buy it because they want to keep it, not flip it!
I like it but not that much ! i have a theory if we keep paying outrageous prices for this stuff they WILL keep putting the prices up. so not paying it here but good luck to those that do
I've said it before & I'll say it again If an item is released as a collectors item It will fail , Driving up the hype does nothing Just my 2 bits worth
If people buy crap, other people will keep making it. If you have a collection that you have been adding to for many years you kind of get attached to it and you hold on longer than you should before throwing in the towel. A while back I put together a graph showing the milking of the $1 collectors. I think I based it on the numbers released each year rather than a cumulative total and the red line just looked pretty and I have no idea if it tells you anything, it was a while ago... When people started collecting the $1 coins you could get them from the bank nice and new, then they started on with all the extras and the Mint-your-own for $2.95 or whatever then the started making more and more at $10 then $12 and the Mint-Your-Own went up to $10 a pop and then a lot of the people started selecting which coins they would add to the collection, and then they started quitting the $1 collections and now find that they can't get their money back on them because no one is collecting them anymore. I stopped the graph a few years ago because I no longer care but I went to the post office and they had a new series of $1 coins in a bit of card for $12 I think, Zoo Animals, one had a Gorilla on it and the other had something else, can you ever see that series ending, they can print a new animal on it each week and never run out. They only need to sell a few at $10 a pop to make it worthwhile apparently. That's your lunar series in a few years time!
Fail for who? Fail for people who're going to try flipping it in the next few months? -- highly likely Fail for PM? -- i'm not so sure.. this product has a pretty long lifespan, if it doesn't sell this year, it may next year when we repeat the hype during the snake release, or maybe longer.. who knows? not that I care anyway, coz I'm not getting one unless they make the 5oz HR proof PM's market is not limited to us SS's only. Let's just wait and see.
Sure.. but collectors and investors only have a finite purchasing power... so if they spend all there cash on the ever-increasing supply coming from the PM, then the oppertunity cost is spending less on the secondary market... Simple economics tells me unless there are many new investors entering the market to mop up the additonal PM spillage (supply) then prices must drop to reach the demand/supply equilibrium... if these coins are not hot now... your mad to invest expecting a future uptick.. also you'd need to be attracting numismatic premium collectors who want to pay over and above RRP which IMO is already excessive to demand.. IMO the majority of purchases made are speculative anticipating a future appreciation and profit booking down the track.. i just dont see this eventuating for the most part. Especially the $500 5 ounce proof.. my ass people buy it to hold.. they are buying into it cos it "so limited" ... the other side of the coin is.. who is demanding it at $500.. who will pay you more in the future.. the future i see money is tighter and silver will be silver to a greater extent... go quantity over quality. KEY POINT: The Perth Mint pricing is still based on the $50 spike so your paying 33% above the normal market value... why havent they adjusted down there prices in accordance with spot??? Or are we tracking 40% inflation on PM numismatic prices.. typical govt.. NO inflation (offcially) but price increases everything the govt (mis)manages.. Postage stamps or intl reg post at $27 anyone? 1for1
After almost 3 years and I see PM Dragon still holding high premium on price. Anyway I have collect all 1 OZ 2012 PM Dragon coins (bullions and COA coins) except Proof - High Relief.
I have been watching the price of the 3 coin proof set. It is something I wouldn't mind having but not something that I am desperate for. From memory, it was released for about $350 or $395 or something like that. By the time I had heard about it they were all gone from the shops and on to eBay, where people were asking (I want to say $800+ but my memory won't accept that number.) a lot. Basically people wanted to double their money immediately. Which pretty much left no gain for the buyers if they wanted to flip them. So I have been holding off and the prices have been dropping on them but even so, people are still looking for more than $200 profit on a two year old coin set. I will keep holding off, I think that some people may have bought multiple sets in the hope of making some quick money, eventually they will try and settle for breaking even and after that they might be interested in seeing what the market is willing to pay for them. I am not sure that I would even consider buying them for the issue price now.
1oz 2012 Dragon HR recent not sold above its issued price. The last one sold for $113 on ebay item no: 301487070950 If you take away 15% generous fee, it came down to $96 which is 12% lower than the issued price ($110) if you buy normal bullion at that time (kook, koala, rounds), you are likely worsen off due to current spot is much lower ($30+ to $20+) So Dragon numis (in this case, at least) perform better, imho.
Got one of these today for $125. This is a really nice looking coin, very impressed with it! I think it's much nicer then the standard proof one and for 1/2 the price.
