I'm fine for speculating on these premiums while things are still rosy and there are still mugs out there willing to pay more than you did In fact, I think I'll get some of those dragons and offload them straight away for a quick profit. However, when the PARABOLIC LAUNCH occurs, you're going to want to be HEAVY, not PRETTY.
I'm not sure that confiscation should be considered. If such a draconian step were introduced i'd have to say that I would no longer want to live here
Is there any chance of a SC bar trade in for 10oz Dragons, I'll pay a $1.50 per oz difference. (300oz available)
I'm happy to pay the difference, if its a possible deal. I'm just trying to work out if its better to sell all and re-buy or just do a straight swap. Trying to find a happy medium where we both benefit
A quick question which has probably been answered before but I haven't come across it. As the perth Mint Kooks and the RAM roos are legal tender for a lously dollar, I can't think that the aim is to have them actually circulating as currency. I also don't see $1 as any sort of acceptable stop loss for an $87 purchase. The only reason I can think that there is any need to brand these as "Legal Tender" is for the benefit of the issuer, not the purchaser. E.g. in case the government decides to recall all legal tender. I know it sounds stupid but Governments all over the world are recalling coins because they are changing the size, removing denominations or changing the composition of the metals. The government made a fortune when Australia went from Predecimal to decimal. They recalled all the silver coins and gave the public cupronickel and kept the difference. They also make it very difficult to melt down legal tender, it may even be illegal to melt down a Kook, I have never been interested in trying and I doubt anyone in the government would care at this moment in time. However if it is not different in Australia, and we do get a GFC:Australia spin-off show. Could the government call some emergency measures and demand the recall of all the legal tender, or demand that even though your bank has collapsed taking all your saving with it, and even though hyperinflation means the rates are now $1,000,000 a quarter, if you have legal tender of any kind it now belongs to the government so you can pay your taxes? You don't get that with a bar! However I still don't have any bars, aiming to change that today though!
Correct. The same principle applies to any 'numismatically' priced silver. About as 'numismatic' as I like to get is the 1937 crown, which is really only a little over priced in the current market and even then I only have a handful for 'play' silver. But the intent to buy 1oz 999 at anything above issue price trying to speculate on spectacular returns down the line I believe is short sighted and for the want of a better term 'screwing yourself' out of a better potential gain by going simply for more ounces than rolling the dice on future speculative collectable premiums. Look at the rhetoric of the long term stackers and you'll see the underlying context of the ideal strategy. I think the recent influx of new stackers (and the accompanying animated discussion in a bull market) has lead to some stacking choices that have slipped from the fundamentals and moved people's stacks into a potentially more risky direction (being more speculative based). So my motto is simple on all this. Stick to core ounces as your primary concern. Ensure your stack consists of easily recognisable and verifiable bullion or coinage. If you can get your coinage for a *small* premium, it's generally worth the slight opportunity cost to go for something with a government guarantee behind it. I have everything in my stack from pre-decimal and 1966 50s through to 20oz Perth Mint bullion bars and even the odd Panda. A little variety is always fun to have, but I would advise anyone of going overboard with it and to maintain a level head and keep your core stack based on the fundamentals you set out to achieve in the first place. Lest we cease being stackers and simply collectable baseball card traders, trying to convince each other one silver is better than another and worth silly prices because it's got a pretty picture or comes from a 'limited run'. I assure you that in the end, when you go to trade in that stack and it's destined for the melting pot, it won't make a damn bit of difference in the slightest. That's just my personal advice on the issue, but anyone is free to make their stacking choices as they best see fit. I'll be more than content sticking with the 'yukky' silver and gold the general investment community deems 'junk' and offers at a cheaper price.
The banking act has provisional for confiscation of gold but not silver so they would probably have to enact some change to legislation to confiscate your silver coins.
Thanks Silverthorn Is that legal tender gold, or just any gold e.g. sovereigns, bars, necklaces, teeth, necklaces made from teeth etc. I would think there would be exceptions such as numismatics etc. I am guessing the banking act is pretty big and I am too lazy to go through the whole thing but I would be interested in any specific areas if anyone has a link...
I agree with the Monkey. I have seen ugly hand poured bars go for high premiums on eBay and priced high by retailers. In some people's eyes, me for one, bars are cool and they are as collectible to an individual as any coin. I have many bars and have maybe 2 that I have doubles of on purpose. Bars IMO have a cool factor and coins have a beauty factor. There's room for both in the world and my stack
I am not as lazy as I make out.... CURRENCY ACT 1965 - SECT 23 Coins may be called in (1) The GovernorGeneral may, by Proclamation, call in any coins issued under this Act or the repealed Acts before a date specified in the Proclamation. (2) A Proclamation under subsection (1) has effect from such date as is specified in the Proclamation for the purpose. No idea what it means as I only skipped to the section that stood out the most but seems to say that it could happen and the mechanism is already in place.
mate - it's not just your view, it's that of Mike Maloney as well - steer clear of numismatics... It makes much more sense from the maths side of things and that's good enough for me.
I heard that this happened on a massive scale in the USA. Dealers and coin shops were getting so many in they did not have a chance to search out the key dates or good quality or varieties, they all went in the melting pot. However... Remember things go in cycles. the remaining numismatics are now back in demand and they are a lot rarer now than they were before the melt down. This is pertaining to proper numismatics and rare coins, not the artifically rare modern offerings. Even so, after half of the 300,000 1oz dragons have been melted down and silver has gone parabolic and the prices have crashed there will still be people collecting coins, then your dragons will be worth even more. Just remember to diversify, stack what you like because you may end up holding on to it for a long time.
When the time comes to run, would you rather have a 1930 half-penny proof or 10000 ounces? When you come face to face with the border guard at the checkpoint would you rather have a 1930 half-penny proof hidden in the folds of your underpants or a 100oz bulge in your pants?
