The more dragons that go overseas the more chance the interest in other lunars may increase possibly meaning bigger premiums of other coins and meaning better outcome for stackers in AUS. Well there is always some silver lining to all clouds. BUT IMHO Perth mint is Australian and should look after Australians first. After all, we are worried about carbon pollution and shipping coins to APMEX on the other side of the world just to ship it back to an Aus stacker is stooopid
Almost.. imo the only FAIR sustitute is 2x 1/2 oz dragons... that way we are, to a small extent compensated for the unfortunate shortage and subsequent rationing. This is fairest cos two 1/2 oz dragons would likely cost more to buy than one 1 oz, your proposal of a 2oz is actaully cheaper for them to sub so they would immediatley be profiting from that excercise.. entirely unheralded. 1for1
I think BB had substitution of 1oz dragons x 2 for a 2oz dragon or a refund - your choice. Doesnt help though that your funds have been held up for 3 months and not available when you need them (now!) to buy your 1oz dragons elsewhere.
When that happened with the kooks, some Germany dealer or store requested the previous years to be re-minted in fresh rolls pushing down the value of the previous years burning lots of collectors in the process. I know that won't happen with the Lunar due to the fact mintages are finalized and they can't go backwards and re-mint the older years, but just because the bulk is going overseas doesn't mean the premiums will go up for us or even benefit us.
What oxymoronic dealer is going to sell you a 1oz dragon? If your reputation is already tarnished because of the Perth Mint incompetence; you are not going to risk further humiliation until you actually get those dragons in hand.
is this discussion just limited to the pre-sold silver dragons? Perhaps there is an option of trading the difference towards the gold variant unless they are all pre-allocated as well?
Matthew is probably talking about buying from overseas or (ugh) eBay after release. If you have to wait 3 weeks for the preorder money to be refunded (if they refund at all) you can't use the funds to buy off other places. I heard Gold is even worse .. even more limited!!!
But gold dragon has a confirmed pre allocation. So there is no issue on that front. However the gold dragon is also fugly, so I don't know if deman will be as high.
I'll be a bit teed off if I can't get some from the mint. I buy a handful from them every year and they come in a roll of five which I find nice for a little bit of extra protection in storage.
Gotta say, If BB who have held our funds for 2-3 months now can't come through on the allocations, there are going to be some pee'd off customers (myself included) I'll have a chat to the lawyer I sit next to at work tomorrow. 3 angles 1) Bait and switch (if only offered an alternative product and not a full refund) 2) haven't been paid interest on funds they have held (can't remember the exact legislation - thats why I have a lawyer next to me @ work 3) Terms and conditions - line by line (We write terms and conditions for our medium sized pty ltd) really depends on how grumpy I get.
I'm pretty sure their conditions did say full refund or take 2oz coins instead. And yes they have got to have your money for 3 months interest free. This is why I never took pre-orders !
Hi, i pre-ordered knowing this risk and was fully prepared to knowing the 300k limit and how hard they were going to be to obtain. I did however expect BB to have it on extremely good word that they could in fact come through with the quantities pre-sold. We shall see. 1for1
To some of us this is absurd... i myself believe gold and silver will become 1for1.. I will expect to negogiate for twice as many half oz coins if 1oz order can not be filled. 1for1
And now foreign bullion companies get to make a quick profit on such a high demand product instead of Australian bullion businesses. Why a government would actively do this is astounding. I will support the Australian dealers once allocations become public by putting in my complaints to --> WA Treasurer (responsible for the mint), the Federal Assistant Treasurer (responsible for permitting the currency to be minted) and the A.C.C.C.....
From what I can gather, they did have it on good 'word' that they'd get X amount and presold accordingly, and now Perth Mint has said 'no, you can't have that many'
Well I thought the "discriminatory" part was actually supposed to be a good thing because regional discrimination was the justification for rolling out all those coloured variants - for the export market. So not only are they pumping out a load of coloured coins for overseas dealers but they're giving them most of the bullion versions as well. It seems the rumours of Perth Mint-branded lube were false.
Yep.. Not a good option for the dealers as their cost is higher per ounce for the 2oz dragons over the 1oz. But a reasonable course of action to take. I'm not sure what the difference in dealer cost is for the 1/2 ouncers, but I think that that would have been my personal preference if the 1oz weren't available.
