The $18k sale thread got me to thinking about a subject from years past. My personal expectation is that silver is probably going under $10USD within the next or two. If that happens, I would be buying silver and the idea of kilo remints intrigues me. Does anyone know the minimum order size for a kilo remint? And would the premium be in the area of $1.50-2.50USD/coin? For tracking purposes click the say thanks button if you would be interested in this idea. Shouldn't be hard to meet the minimum requirement as barsenault could probably do that out of his bonus check. :lol:
My bet is no way we see 10. If they increase rates again, say, bye, bye market...the Fed won't let it happen. I say no rate increase, and off to the races for PM's? But heck, some are saying $8.00
I did offer through a distributors of Perth Mints of Kilo Tiger 20 pieces for remint. I get rejects. I do not check the minimum quantity with them. I cannot afford more than 20 pcs.
Every time last year silber-corner.de had new stocks for the kilos they had around 100 pieces. So guess it lays around that number. However i dont think PM is accepting lots of if any remints order atm as they cant even produce the current coins. So if the spot price drops more i would say the probability for remints decreases even more.
Did enquire about it once. Remint orders for kilos need to be in excess of a tonne, preferably several, with some additional coins struck for the remaining distributors, and availability of reminting is dependent on the mint having capacity to do it at the expense of current year production. So I would not expect to see remints available again until such time that there's a slowdown in demand that would allow it to be scheduled without impacting 2016, 2017 etc regular kilo demand. From memory it was a tonne per coin - so you couldn't order say just 200 of each year.
I dont think 1000 is the req amount, it is acc to me too high. Just think about it. The mouse has been reminted since 2008 and the mintage havent increased that much. Maybe 1000 in total per order but not coin.
I had to look up how many troy ounces in a tonne. Answer was 32,150.7466, which explains toblov's mention of 1,000 coins. I would expect we could put together an order of a few hundred of one coin, but 1,000 would be tough.
Yes, hence, why I've always stated, you won't see remints come on the market. All it is, is giving false hope to those hoping to see more come on the market, but they have no intention of making them, nor does anyone have an intention of asking them to mint 1000 pieces. Not happening folks. Now do you understand why I got a truck load of these horse kilos? LOL. Oh, and for really cheap over spot per oz ($1.69). lol.
It may be doable. It would depend upon the investment mood of some of my wealthier clients and until my scenario happens, I am not going to bring up the subject. 1,000 coins would only be about $400,000USD. Split $400,000 order among a few millionaires and it doesn't seem like that large of an amount. If the mint said no to a 1,000 kilo order, then I would probably drop the matter. barsenault, low premiums are nice, but low spot prices are better. Remind me what the price of silver was when you bought the horses? :lol:
I think it was 16? And guess what, I bought those for about 520.00. And guess what I sold a few at just recently? Close to $700.00. Not bad for dropping silver prices. lol. Oh, and I say to anyone hoping for a remint of Tigers or Horses, etc...don't hold your breath. But I'll sell you one of my Horses for $750.00.
I thought you bought the kilo horses over a year ago? $520 would equate to a $14.48 silver price. Well if horses are the way to go, maybe I should order 1000 of them.
Yes indeed I got a pretty big chunk when it hit 14 and change. Made my day. I leave the big spending for guys like you and Andrewlee. Lol.
I say just wait for the German dealers to suddenly come up with kilo remints in their inventory. Still some way to go before the series ends.
Altima, I am not worried about it one way or the other. First of all, my sub $10USD scenario has to happen. I think the probability is very high, but who knows? Second there may be much better choices out there at the time. I remember well the Ox typesets for $2.99 or 3.99/oz over spot ($68 or $72USD/set). If everything lines up and I want to, I can put together a 1000 kilo coin order. But if the PM requires an order for several thousand kilo coins, that would be a bridge too far.
What is wild is that you have order 1000 pieces of one kind. You can't mix and match. Yikes. But with your deep pockets dccpa, I figure you can get a 1000 of every issue.
I was only planning on using petty cash for the kilo purchases. For 1000 of each I would have to dip into my rainy day fund.
What's behind converting 1tonne (1000kg) to troy ounces and compare it to kilo coins ? Troy ounce is dead in terms of PM. metric is what will be used in future.