So regarding 1oz silver Dragons, it sounds like we have: * Some dealers with a verbal-only pre-allocation * Some dealers with a written pre-allocation * Some dealers with both? (e.g. Perth Mint to dealer: "You have a locked-in 2,000 oz pre-allocation, but really you can pre-order as many as you like.")
I can't help but think this is just a marketing hype strategy by Perth Mint (limit 20 / customer, limit dealers on purchases) which will most likely backfire. Oh well, 300000 mintage I'm sure there'll be enough to go around (eBay, APMEX) as last resort.
Probably wise to get some dealers to post about their allocation criteria.Would be in their interests and totally clear any missunderstandings up. REDBACK
I know Bullion Bourse joined the site as a seller and they had a lot of pre ordered dragon (40pcs is mine - I hope). I hope they would clear what position they are in as many stackers pre ordered with them.
I always get nervous about buying into something with a lot of hype, not to say they won't be a great buy, but they aren't a sure thing. A lot of people are buying just to trade or on sell, so you might be able to pick up a bargain a few months after release when the hype has died down a bit.
Raggio,commercial in confidence shouldn't come into it when a simple explaination would alleviate peoples concerns if they have any. I would be amazed if any reputable dealer hid behind that statement. You all know who the dealers are You all know how much you have paid. You all know the allocation promises and default fall back positions. You all know approximate delivery dates You don't know the spot price of Ag at delivery time. You have promises of delivery subject to all the risks that pre purchasing entails. We have the Perth Mints official stance on pre allocations of Silver Dragons. We have the Dealers stance on Preallocations. If 'there are' anomolies then simple explanations would quickly and easily clear these anomolies up. Easy soln,were not asking buy prices from dealers,nor personal PM contact #'s There is no conflict of confidentiality over a Simple explanation. Standard Good business practice and I am guessing some dealers have already been communicating this privately to clients.
Do we? I haven't seen one. Anyway I hear what you are saying. My point (a guess) was that the dealers have probably signed something saying they are not able to discuss the preallocation. Happy to be proven wrong!
Interesting that the 2000 Dragons only sold a little over a third of their mintage. I am surprised at that.
Back then precious metals were not as hot as it is now. Lately, precious metals has started to replace real estate fever. So, you start to get things that shoot up amazingly in value and the chant "(insert object here) never goes down in value".
Even 5-6 years later nobody wanted them more than any other bullion coins. In 2005 I bought few on melt value. Cheers Peter
In 2008 I bought the lunar gold dragon 1oz, 2oz and the rest of the lunar series at spot + 6% (regular bullion price). Perth mint gets plenty of them sold back to the mint back then. No one really cares about them back then. To put it into perspective, they weren't that hot 3 years ago. Before GFC that is.
same here. I purchased a 2oz dragon on ebay in 2006 for about spot. I had no preference for lunars, just wanted silver coins at spot.
I think the 5oz could be a good option if you can't get the 1oz. My understanding is the 2 and 5oz will have a higher premium than last year encouraging sales for the 10oz and 1kg. With so much hype surrounding the Dragon and a small premium over a 10oz bar, I would hazzard a guess that sales of the 10oz Dragon will be huge. If the 2 and 5 are selling for the same price per oz they would probably sell more 2oz. Based on these unfounded assumptions I'm going to predict that the 5oz will have the lowest mintage.
All the more reason, I'm wondering (hoping) Bullionbourse comes through on the coins he pre-sold at $40 each..................
Yeah but have to remember that in the Rabbit the mint stopped production of the 5oz and 10oz because of capacity issues so they could pump out the 1oz and 1kgs sizes in particular. Now the mint has bought new machinery etc, they will be able to ramp up 5oz and 10oz production for the 2012 coin way beyond what they could for the 2011 rabbit. I suspect that the 1oz will be all over and done with within a few days and as a result the 2oz and 5oz's in particular will have very large minted numbers compared to previous years.
They are two chances of the above playing out as you have written 1. No Show 2. S*it show What part of total sell out and 300K maximum with HUGE demand over supply could EVER draw you to that conclusion. but they aren't a sure thing - As in we cant actually buy them.. corrrect but they aren't a sure thing - As in they may not be a good investment.. I say they are .. if you say not.. HYPE.. its a mass hysteria created by the fact the pre-allocations we fiction and now we know we want be getting what we suspected we werent.. there will be stampading hordes for the minscule stock around town... You know why david jones and myer had a poor turnout during the sale season??? Dude we are all hoarding our fiat waiting to march on coin shops to stock up on dragons.. theres gonna be sooooo much fiat chasing just 300k of dragons.. Please tell your friends not to buy dragons and that its a fade like a yo-yo or basketball... wait for them to go down then buy.. youll be happy you did. 1for1
