Hi all; Just went to the ABC site as I do on a periodic basis - in fact I do try to check out most dealers & manufacturers/mints within AU say on a monthly timetable just to see what's happening. I have seen the Eureka rounds and they have been mentioned on here, but the question on my mind is: Have any of you have actually bought any, and[/*] If so, have they shown any deterioration in terms of spotting, hazing; or[/*] Is there degredation other than toning that we would otherwise see as normal/desirable?[/*] After seeing some of the spotting & haze patches on my 2015 Maples and the new 2016 ranges starting to become available, I don't see the point in paying money for 'Bullion' LT coinage which will literally turn white in front of your eyes. Kangas, Maples, Philharmonics and Noahs all seem to do it regularly if unsealed, and too often even if remaining sealed. I have not seen announcements from any mints regarding the discontinuation of their chemical polishing process and going back to good old mechanical polishing, so I expect the status quo to continue. Given that we all expect to see a rising silver maket over the next could of years (except Jester who is so sideways we could call him Crab Jester), is putting cash into extra premiums a fool's errand if the product spots and we are left with spotted silver and chance to recover the premium into the future? For those of us that stack, it might be better to put it into a lower cost item before prices rise and bulk up our ounces. At least we know ABC will buy them back at the same price as all other 1oz coins they sell. Thoughts and opinions?
I only bought 1 last July, but it seems to be ok so far. I would not surprise me if it developed milkspots though (relatively new mint product? and it's only in a sleeve), and it probably wouldn't bother me that much if it did. Should not be any real premium on the Eurekas that milkspotting would impact. I see it basically as a silver bar that happens to be circular and could be circulated. Should be a cheaper buy than Maples, Philharmonics etc.
It's funny, I swear it must be a batch thing because I have coins which people suggest spot heavily and frequently even when sealed, yet I have mine on display (I have 1 of each coin and bar type I'm stacking on display) and they're doing fine. As for Eurekas, I agree with BuggedOut, they're just a cheap round. With ABC they're always the cheapest on their list.
Good news, thanks for the update. And yes, the premium with these is manufacturing only and quite a bit cheaper than the 2016 Kangas at lower volumes. Ramp up to 250oz and the cost differential narrows considerably however. But the same buyback price as everything else. So if you pay a reasonable premium for say Maples, once they spot then you would probably do a buyback at the dealer and they will pay you the same as the Eureka, and you probably have a few extra ounces for the same money.
