2013 Perth Mint Snake Group buy??

Discussion in 'Silver' started by Applesmfc, Jul 3, 2012.

  1. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Apparently something like 80 - 90% of the Dragons were sold by the Perth Mint directly to Dealers overseas before they were made available to the domestic customers.

    Apparently the allocations were based on who bought the Rabbits the year before. You bought a lot of rabbits, you got a lot of dragons.

    The allocations were not based on how many dragons a dealer thought they could sell, or none would have gone abroad.

    If the same thing applis this year then most of the snakes will go abroad, and they are welcome to them!

    I seem to remember silver starting to climb just before the dragons came out, not much but enough to bump the prices up, they were the same price as the other 1oz coins available from the mint.

    I would be getting my 20 from the mint regardless of any pre orders or EOIs, not wishing to upset the dealers but they were pretty confident they would get their allocations last year before they got knocked back (some were buying dragons back at inflated prices just to fill their orders at the original price).

    A lot of people were disapointed when their pre orders came to nothing and they had no choice but to buy them at full asking price. If you just want one for your collection then you wear the extra cost. If you bought them with an eye to flipping them to make easy money then you can't do that when the price is already peaking and on the way down.

    Definately worth getting some at issue price, if you miss that wait six months and buy them on the way down. If you want to sell them, sell them fast, I am sure some were being pre sold on eBay before they arrived in the seller's mailbox.

    I have put in an EOI with Maggie and I will be attempting to crash the server on launch day.

    Mint postage isn't cheap that's for sure and you don't get a bulk discount through the mint. With group buys you get volume discounts and you can probably pick them up at a stacker meeting.
     
  2. malachii

    malachii Well-Known Member

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    Let me start off by saying I'm not offering a group buy! When I have a confirmed written allocation I will offer some here. I have no knowledge of what Maggie has or has not got but her reputation is second to none.

    The mint (and most dealers) will be offering these at prices comparable to Kooks and Koalas. After all - they are meant to be a bullion coin. I would go by what sort of pricing they have at the moment for Kooks and Koalas as an indication of how much over spot you are likely to pay at that dealer.

    Premiums will only start to increase when there is a shortage (perceived or otherwise). This may be either by Perth Mint running out, rumours of them running out or widescale order limiting by retailers.

    malachii
     
  3. Applesmfc

    Applesmfc Member Silver Stacker

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    If everything goes according to plan (allocation wise) when do the group buys orders usually go out?

    On launch day? A week later? A month later?
     
  4. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Usually well before the launch date, you may have to pay in advance to lock in your order but you usually also lock in a price...

    Will silver go up (you save money)

    Will spot drop (you lose money)

    Some dealers may cancel your order if there is a big swing in price, doesn't hurt to ask before hand what their policy is.

    This year I am not so sure, after the chaos the dealers had to go through last year they might not do the group buy until they are 100% confirmed as to how many they can get.

    Edit: you don't get the coins any earlier though, they still get delivered to the dealers and you get them when they have done all the packing etc.

    I didn't get any group buys at the last launch so not 100%
     
  5. Guest

    Guest Guest

    It will be interesting to see the value of all these privy coins we are getting in say 5 or 10 years.

    The 1oz snake will sell out nearly as quickly as the dragon i reckon, within a week.
     
  6. Applesmfc

    Applesmfc Member Silver Stacker

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    Right......decision time.

    What are my chances of getting a roll of snakes from the Perth Mint Website on launch day?

    Do I just lock in a roll with Maggie now?

    Sorry for the newb questions but it's my first lunar release..
     
  7. Guest

    Guest Guest

    Best checking the site sponsors websites a few weeks early and you may be lucky, or people on here. Bullion Bourse were selling 1oz dragons by the hundreds before the release date.
     
  8. Applesmfc

    Applesmfc Member Silver Stacker

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    No one seems to be suggesting the Perth Mint website on launch day?
     
  9. malachii

    malachii Well-Known Member

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    If you can find a confirmed, in writing offer from a dealer that is at the normal mark up from spot for bullion (think kook/koala/privy price) - and you want to buy snakes of course :) , then grab it. Otherwise the Perth Mint website will be fine on launch day assuming you can get on it. Last year's dragon release was a bit of a disaster with long wait times and system crashes locking a lot of people out. Also need to be aware that the Perth Mint will most likely have purchase limits (last year was 1 roll each) so if you want more then an alternative source maybe the way to go.

    malachii
     
  10. iceblue

    iceblue Well-Known Member

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    After all the fuss last year, I do wonder what it was all about.
    In the last few months i must have had 300 - 400 dragons offered to me from various people, thing is now no-one will buy them with the premiums asked, especially with snake season upon us.
    Wise words from Malachi.
     
  11. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    True ,I couldn't sell my 4 coin set for the release price including postage .
    I can't even sell it on fleebay for $500 including postage :rolleyes:
     
  12. Ghost Story

    Ghost Story Active Member

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    will they flood the market with snakes like they did dragons and kill off the attractiveness or have they already shot themselves in the foot with dragon greed?

    will the snakes sell out in 1 day?

    or are people sick of the PM ?
     
  13. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    I'll put $ on it they they will release all the same type of stuff with the Snake as the Dragon .
    10 coin set
    9 coin set
    blaga blaga blaga :rolleyes:
     
  14. Ron Currie

    Ron Currie New Member

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    We won't be issuing any large coloured silver snake sets in 2013.

    Last year's nine coin set was compiled as an exclusive for our Chinese distributor. Other dealers saw the product at the Beijing Show and consequently put pressure on us to issue it worldwide. Our response was the limited 10 coin set, including a standard silver bullion coin.

    But as I say, none of this will happen regarding the Snake.

    In terms of "flooding the market", I understand why some buyers would see it this way. However, to quote what I said on our blog last week, we have a global clientele between 80 and 90% of our products are shipped overseas annually. Thus our programs are designed for a range of international markets. Yet we are obliged and indeed very pleased to offer all Australian legal tender products at home in Australia. So, if a program is developed specifically for a distributor in (for example) China, we will offer a small percentage of the mintage here.

    Australian collectors are unique in as much as they have the opportunity to purchase every variation of our Australian programs. I think we'd attract far more criticism if we made an Australian legal tender program for an overseas client and didn't offer it to customers in Australia!

    Ron Currie
    Sales & Marketing Director
     
  15. RetardedMonkey

    RetardedMonkey Active Member Silver Stacker

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    Avoiding Snakes until Ainslies gets them in.
     
  16. Aureus

    Aureus Active Member Silver Stacker

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    I think by releasing so many variants you destroy the collect-ability and worth of all releases. Personally I'd much rather you up mintage on a few products over spitting out new ones every second.
    Have you even lined up every dragon the mint has made this year and taken a step back? it has to be a mile long, it's ridiculous.

    That coupled with the fact you insult collectors with privy releases has turned me from a collector of PM products to a flipper, and it genuinely pains me to say it because your products are fantastic for the most part.
     
  17. rbaggio

    rbaggio Active Member Silver Stacker

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    Avoiding Snakes until Ainslie gets them in, will partake in the 1-2 day window while Ainslie sell them at bullion prices, then avoiding Snakes once Ainslie reprices them as numismatics.
     

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