Hi Silver Stackers, I picked up my first coin last week, a 1kg Lunar Goat from an official Perth Mint Partner. I feel let down by the dirty edges. Are they standard when paying top dollar for a coin? What do you think of the edges? Is this normal or something I should clean off, or should I raise it with the Vendor? I don't know everything about coins or bullion, but I recon this has been rolled around the back office for the past few weeks.
Consider that most stackers don't take coins out of their protective capsule. How much did you pay and who from?
It's a bullion coin. you shouldn't have paid more than 1.99 per ounce over spot. If you did, you got ripped off. This kilo needs to be played as a bullion coin, with a small, possible semi-numi play. I wouldn't worry about the dirty-ness...and please don't clean it.
Those aren't selling anywhere for $2 over spot. If you see one available at that price... let me know...
Common to be honest - but definitely highlight it to whoever you bought it from and see if you could get it swapped perhaps
Thanks for your input everyone! I'm relieved if this is normal. It's not such a big deal then. Holdfast, it came in a capsule. I removed it for the photos (wearing cotton gloves). I paid the same price the Perth Mint sell it for.
Notice, what I said, 1.99 over spot PER OUNCE. If my math is correct Gainesville has them for about 1.59.00 over spot PER OUNCE. That is cheap!! Cheaper per ounce than most govt issued coin, and close to blob prices, yet these will have a semi-numi play in the years to come...if they don't get riddled with spots and hack marks...and even if that should happen, you only paid 1.69 PER OUNCE over spot, so it will be easy to sell without losing money...even if you had to sell .79 over spot at higher prices. :lol: Hopefully when they run out of supply (14 left), they get more, because I'd like to buy a few at this price. https://www.gainesvillecoins.com/pr...tralia-perth-mint-brilliant-uncirculated.aspx
It's a bullion coin. Bullion coins are not designed to be anywhere near flawless. The discoloration and minor abrasions is completely normal, as is occasional milk spotting. Kilo Lunar bullion coins have unlimited mintage until the end of the series so their semi-numi value is very questionable. They will generally be a spot play (tied closely to the spot price of silver) indefinitely. As Barsenault already mentioned, if you are paying more than a couple USD$ / oz over spot, you are paying too much. Bullion kilos are a spot play. Want a numismatic value on a silver kilo Lunar coin? Buy either a high graded (slabbed by a top tier TPG (Third Party Grading company) ) bullion coin or buy the very limited mintage proof version. .
Hmm, I suppose you are right. The more recent lunar kilos are purely spot play unlike the mouse/tiger/ox kilos (look at apmex who have been selling them for way above spot). The dealers in Singapore have been selling the 2014 kilo lunar horses for close to 600 USD (with plenty more to spare I think). http://sirbullion.com/product/australian-lunar-horse-silver-coin-1-kilo/
