Are there many people here that think paying a numi price for a bullion coin is worth it (I am referring to a Lunar Dragon)? I was recently informed of the price a 1 oz is going for.. and NO WAY. I'v said it before and say it again. If you (as in anyone wanting to buy) initially baulks at a price of a coin because it is more than normal price, the chances are, someone else will too. This limits the liquidity of investment and the number of potential buyers. If you are in it to make sound financial investment. Numi's really are a silly choice. The only thing rarer than a rare coin is a buyer for a rare coin - or rare anything for that matter. Have a think about how long it takes specialist collectors of anything have to wait to find buyers OR get the price they want. Just my two cents..
collectore pay extremsly high amounts for most things depending on rarity. I see no reason for coins to be the exeption. All you have to do is look at art classic cars & motorbikes crockery jewelry antique furniture among a long list of things that are priced accordingly
Plenty of success numismatists would disagree. Have a look at the performance of Australian banknotes as an asset class. The "problem" with Dragons is that they're only 11-12 years old, they fall into modern numismatics, and a subset within that being originally a bullion issue. That doesn't make them any less of a numismatic though - they are a legal tender coin, relatively limited availability (thousands disappeared into China I understand), and most importantly, have a demand. Problem is you're approaching the coin as if it were still a bullion purchase - it's no longer traded on bullion value.
I think the difference between numismatics and buying bullion is the numbers game.Bullion is very simple.Buy as close to spot as you can and hope spot rises.Doesn't matter if it's rounds or bars..or nuggets. With numismatics ,it get's more interesting.You do your research (hopefully, dillegently) and ride the horse ,dragon ,goat et al. Then there is the time dimension...how long have you got to realise the investment? Patience is king here I like to ride a bit..bullion is boring Edit to add: I do appreciate your dillenma, PPSS,because I have been there,wrestling with the question "What is it worth" ..who knows?Ultimately we just pick and pay ..and as boneyard's says "Just enjoy the ride as best you can"
I'm glad I paid $680 for a full series 1, 1oz set with wooden case all 3 months ago. It was lucky that a member was coming back from China and bought a few sets back. There is no way I would be able to collect a full set, each coins numismatic value is increase as silver gets more expensive. It averaged $57 per coin, I thought it was expensive then when spot was $29. Looking back now, its not a bad deal after all. The dragon is a nice coin, when I started stacking the half oz dragons were $40 each, spot back then was $25. I don't know what half oz's are worth now. Personally I would sell the other uninteresting bullion before I sell any of my coins. The coins are the last to go in my stack. I think this set will be handed down to my future kids / grandkids. They won't go back onto the market =D. Good luck with the hunt for the dragon, if you can find one for around $90-100, I'd say go for it. Slam
The thing is that they are worth whatever people will pay for them , it might just be an ounce of silver but the design and year combined with the mintage do silly things to people. Take for example the Redback spider coin from Tuvalu by the Perth mint, still 1 oz of silver but with a premium of $1160.00 over spot by latest auctions on ebay and a buy now price of $1500.00 . To me the 2008 Kookaburra is a much better looking coin to my eye and I bualked at the premium over spot of $11 dollars , but I liked it so I bought it . I personally wouldnt pay the extra $11 for the Redback tho , (and I have had one) but many are glad to do so x 100. As Boyou say's tho the ride with Numis' does add a bit of interest to the stacking and I have had a bit of enjoyment and good luck with buying and flipping for profit to help my little stack grow by turning 1 oz into 30 and another into 5 with a few more good buys returning 3 or 4 to the 1 oz purchased. But I also have plenty of free time to research and hunt down those particular purchases and sit and wait for them to come around, not by choice but by circumstance so it also helps to pass the time for me. I try not to get attached but some times certain coins just catch my eye as well, as I'm sure some do for everyone. The 2000 lunar dragon can be had for a song if you do your homework and really want one . http://cgi.ebay.com.au/AUSTRALIA-20...753?pt=LH_DefaultDomain_0&hash=item27b98b9b41 Finished with no bids and for the handsome sum of $1 plus $15 postage only a week ago . Ebay is full of such listings if people really want to find a certain coin.
Not true mate, look at the auction closely and you will see that the seller cancelled the auction and the highest bid before end was 101, seller just got greedy.
http://cgi.ebay.com.au/AUSTRALIA-20...ultDomain_0&hash=item27b98f4916#ht_720wt_1140 Same seller and bidding is over $100 now.
Seems to be a greedy seller who is unwilling to take the good with the bad as hem9 pointed out , such people should at least have a reserve instead of canceling their auctions if things dont go their way. After all the reason for cancelling was that the item was no longer available.
I bought my 12x1oz Lunar I set end of 2008. I think, these are the last coins i am willing to sell and so i think a lot of other owners will do. I germany you have to pay 800-900 for one set and i see no reason why to sell for this price. If i need money, there are a lot of other bullions to sell first. There are not so much silver inverstors worldwide and the big nations China and India will bring out new investors in near future.
Yes, however, while you pay exorbitant prices (compared to the actual bullion price) for silver, you may as well buy ANYTHING (ie, collectable boat, car, toys..whatever). It is hard enough to get a rough idea of what asset class is going to make you money, let alone try to predict what sort of particular coin will increase in value over time. I had a massive comic collection that is over 20 years old and you really just have NO idea what is going to make something worth anything more than its paper value in the future. It's a lucky dip. Collecting anything to profit from it requires extreme dedication and passion that 95% of people do not have.
