I don't understand why you guys are buying, the prices don't seem that great to me... In general that is, no disrespect to bullion money who all things considered have great prices.
They're not a 'great' reflection of spot and I agree seem a little high. But my little friend called supply&demand says people will want these in the future when they're not being minted again just because they're dragons.
Roman if you havent grasped the reason by now then I doubt you'll ever get it No disrespect to you either
I understand why people are buying into the mania, I just don't agree with it. Should have worded it better. I just think jumping in now is premature, you don't know how many are being minted, and right after a smackdown? you may find dealers look at the chart and drop prices. Call me conservative but I'd rather wait for better prices , if the mintage really is limited and I miss out then my money will go on cheap bullion which is a better long term investment anyway.
The mint is still going to be minting these up until September aren't they? I mean this isn't the last allocation they will do for the year.
Well this batch won't be with customers until the end of March, early April and this is the first time they've been minted since being released in September, so that's half a year already. It wouldn't surprise me at all if this was the only run off they did of the 1/2oz, 2oz and 5oz as they'd surely need to be focusing more on pumping out Snakes come July/August/September.
The way they are using the presses for other coins (eg dragon privvies, coloured dragons, soon to be minted snakes etc) I would be surprised if we see too many more releases. It's March now and surely they have to start ramping up for the snakes in August to release in Oct which only allows them 5 months. Take out all the other stuff they're commited too and I really dont think we will see many more. malachii
I don't know about that Roman - you are selling a 2000 Dragon at the moment for well above spot. If you do the math on which will get the better return in the long run (premium paid now on a 5oz Dragon coin as against low cost silver at closer to spot) the answer will be obvious.
I don't think Roman is against dragons nor do I think he is a purely 'silver is silver' type of guy. What he is saying is, these premiums for 5oz and 2oz are much higher than "usual bullion prices" and 10oz dragons may be a better buy for long term investment as they are more aligned with spot. However, I and many others think that in the long run a few dollars extra premium above the norm will not wipe out the profits. That is all.
guys these were all sold out about an hour ago. Please no more PMs/email about ordering any more of these from us. We dont have them. While I agree this was not our normal pricing structure for these bullion coins (we listed them just a tad under Perth Mint retail) we had little choice with the allocation given, also have been on the phone with Perth Mint and any future 1/2, 2, 5oz coins will be released in an allocation scheme. To me that means there wont be too many pumped out? I could be wrong...
Well when I say cheap bullion I'm looking at things like the 10oz 2012 dragon. Actually 10oz coins in general are great investments. We all see things differently, only time can prove who chose the best investment path, but we're all stacking so it won't matter in the end when we're all swimming in profit Thanks for the info Ossie, they should get more out rather than waste time making fancy stuff.
I think you will find though that as the size increases, the premium over spot decreases on the secondary market. 2000 Dragons (my estimates) 1oz approx $120-130 2oz approx $220-230 10oz approx $550-660 So even if you are buying 2oz and 5oz Dragons now, and paying 25% over spot, you will still do better in the long term than paying 7% over spot now for 10oz Dragons. Thoughts?
Well if we take it out another 10 years I think bullion in general is going to skyrocket in price, hurting numismatics to a degree. That is something I personally need to consider when buying.
Yes but fakes will have skyrocketed hurting vanilla bullion, that is something I personally need to consider when buying. 10oz dragon is a great buy
