Just flicking through a few online bullion dealers and it looks like no one is selling 1oz rabbits anymore. Can anyone find a source in aus still selling?
It is not a problem getting them. I just don't want to pay what the resellers are asking. Everytime I restock with a roll or two the price goes up. Just got a quote of $720 for a roll of 20 x 1/2oz tigers and $1150 for a roll of 20 x 1oz tigers; I won't be buying!
What I would like to know is where has the 1000+ rabbits that I sold to members on this forum disappeared to. There is a nice premium on them now so why aren't they coming out for resale?
Thats quite a premium for the 1oz tigers though they are certaining becomming hard to find (or at least less frequently being pulled out of hiding) Looks like resellers are pushing up their premiums too, maybe inline with the recent movements by the mints... I'd say most folk are hanging onto them to wait to see what happens to the premiums once retailers sell out...
It is expensive, that is why I only buy a roll at a time. Most of my customers only buy one at a time anyway so a roll stretchs for a fortnight.
I haven't bought for a while... when I recently calculated what a roll would cost even at spot...I nearly choked on my caviar!
Buying in such small quantities would probably be a bit of a double edge sword where you could profit on buying the dips and looking for spot rises to sell, though without holding large stock it could also make it difficult to get stock of certain items at a reasonable price to sell and still make a small profit.
I've got a lot of mice, rabbits & tigers I got mainly from Steve as a price hedge/swap out to dragons later in the year. I'm not that taken with the Tigers(BU) ,nice design but I find the image hard to distinguish from the background, the Mice are the best Lunar(BU) so far I think.
The speed at which those boxes and half-boxes of Rabbits that Steve sold, not to mention the large coin packs that Roo was selling flew out the door was amazing. I can't even imagine how quickly the 1oz Dragons will last... I reckon the 300k have already been bought 3 times over. Perth Mint had better get cracking on the non-limited mintage dragon coins now because that's where the demand will divert to
300k dragons definitely won't be enough... I imagine the dealers would at least get 5-10k each and there's a fair few of them! I've been stacking a bit of fiat as backup for when these dragons do come out I can buy a moderate stack myself :]
Me too, but as you said, my fiat stack is only a backup. The POS is climbing so rapidly it's outpacing my ability to save. I'm weighing up buying just a few with my bundle, putting the dragons on the dreaded CC, or not bothering to buy them at all if the price rises too much. (What that price is I still don't know) Mania is too hard to predict... i don't want to get caught up in it, i.e. the people involved in the mania.
Using the 1oz Rabbit sales as an indicator, released in Sept 2010 and sold out by Mid Jan 2011 making it around 4 months for the mint to sell out all 300k specimen coins, and approx 7-8 months for bullion dealers to sell out, now translate that to a coin that has a history of numismatic premium, IMO most highly sought of the lunar series and an ever increasing public awareness of PM and i could see the 1oz dragon sales beat that timeframe quite considerably.... I know there are thoughts around that folk would look to swaps from other lunar series coins to the Dragon in order to reduce their effective buy price... and I think if anything is going to get those hard to find series I and series II coins out of the cupboard i think the prospect of a swap to a dragon would have to be it...
I think 1oz dragons would sell out in under 4 weeks at the mint if they had them in stock, I'm guessing they'll be minting them over a few months from sale date onward.One thing I thought about is how much silver they'll use for the Dragon run I'm guessing a good mill+ oz just on all the different coins especially if they get the 5-10oz coins back into production.
Got loads of rabs and tigs and was going to go to try and flog em off in Kuching Sarawak next week while off on another tour. The intent was to prospect the Bau area with the detector and test the market , but after reading this I am having second thoughts. I have contacted the Perth Mint about a distributorship there and got the basics and am ok with it but was waiting on some feedback from someone who specificaly deals with international from our mint. So far no reply. I cant wait so im off anyway to do a self silver litmus test inter-alia of the market but after this thread I might scale up the pump lolz .
