What do you think about this coin: Source: www.powercoin.it At the moment there are two auctions on feebay, one is from a German seller: http://www.ebay.com/sch/i.html?_nkw=red+squirrel+palau&_sacat=11116 and already reached a crazy price for 1 oz silver coin, how is that possible?!? Will it be the new Hedgehog? Alex.
By the way I noticed that the COA is similar to the Mongolian series gulo gulo etc. so I guess it is the same mint. But... where and how is it possible to buy Palau coins directly from mint and not from second market where prices start from $200, $300, $400 etc.? Is there a Palau numismatic program to subscribe or something? Alex.
I bought one squirrel coin already. I do thing this coin will go up in value, due to a very low mintage. Alexbecks you're right, that you notice the same COA as the Mongolian series. These coins makes them by "Coin-Invest Trust" in Europe, and unfortunately you can't buy from them directly as a collector, only the dealers can.
Powercoin iS WHACK... overpriced JAnky CRAPPPPPP... Save your money homie... buy Silver at silver prices or buy fine art.. this is a janky crossover sure to depreciate like a late night janky jewellery offer... All the best though if you do decide to take the plunge.. and expect demand to increase.. Do squirrals have a cult following i am unaware of? 1for1
Well... I was looking at an ebay auction and it seems that there are many bidders fighting for this coin. When the Mongolian hedgehog came out last April/May there were many saying it was overpriced at $149.00 Euros and then they probably bought that coin for triple amount. I remember there was someone showing a picture with many hedgehogs (and entire population, LOL) bought from different sources, that was a little fortune, especially if sold today, just a few months after..... pure silver bullions don't increase so much and so fast, imho. Alex.
Risk vs reward... silver bullion has minimal downside.. paying $150 for this could turn into $20 (its scrap value).. you are heavily speculating that demand will increase for this specific peice.. just cos prices are bubbling for an item today does not mean this is indicitive of future prices.. the tech bubble was going crazy with mad prices.. Nek Minnit the arse falls out of the market and prices turn to intrinsic worth. It may go up but it could easily crash and burn. Im sure after the deadly and dangerous set alot of speculatators bought into PM numismatics expecting a similar return.. coral reef series BURN anyone... I wouldnt be betting on it but im a TIGHT BA&TARD with my finanaces and HATE getting fleeced. 1for1
It is a gamble, If you can get them cheap and then sell them at eBay prices then by all means give it a try. People keep asking, "Is this the new Redback?" Generally the answer is "No!" Many of us coin collectors are still scratching our heads over why that coin was so popular when other coins, just as bland are not selling at all. The Hedgehog was an attractive coin no doubt, but you can't flog a dead horse, eventually people will tire of seeing these types of coins, the Hedgehogs will keep their price but as for the others, who knows?
Even at $300 you stand to make ~$200 minimum such is the demand for this style of coin. Not really a gamble at all in my opinion. You just don't lose when buying coins produced by this mint.
I agree with roman. The possibility to gain a lot on this kind of coins from this mint (at least in the short-medium term) is much higher than the risk that no one is going to buy when flipped on the market. At the moment there are two auctions on ebay, one from powercoin and another from Versandhaus N&N (German dealer first time I hear about). Both auctions are showing a big interest according to current price (and still many hours to go). And we are talking about a "simple" 1 oz silver coin!!! Alex.
The only people who are making big profit on this coin will be Dealers. Second hand buyer will be ok if they want to keep the coin themselves, will lose money if they buy it on Ebay, and then want to sell it on Ebay to some bigger sucker
I quite agree with you on this, 1for1 And this time, I would NOT count on Downie to be kind enough to sell some of this coin at bargain price
As a canadian coin collector, i am proud to say our RCM Tulip with Venetian Glass Lady Bug will definately be a new Redback or even better. It is 700-800 now when only two (ladybug is the first) in this series are released. No doubt it will be over 1000 (actully ebay have many BINs at over 1000 now) when the 3rd and the 4th coin coming out next year...
Tulip bubble, second edition? It's a coloured coin, not special IMO. And it's a flower, not a deadly spider or something like that. Each to their own I guess. Edit: A lot of this talk about "huge and instantaneous numismatic appreciation" reminds me of the saying "a fool and his money are soon parted". With the final buyer being the fool - and everyone else in the middle hoping to fleece someone. It's not like there's value added along the way or it's a piece of history. Just a bit of paint on a silver coin.
well, i agree it is expensive but i do not think its a bubble especially when you hold it in hand. They are quite unique with a glass insect on a colourful flower siver coin. There is value added along the way just like other collection, such as stamp. If redback can last, i believe there is no question why this coin cant. Source:
I picked up a tulip coin earlier this year before the rise in price. Had no idea prices would triple.
