SilverPete joins the Chinese medallion club

Discussion in 'Modern Chinese Coins & Medallions' started by SpacePete, Jun 28, 2016.

  1. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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  2. mmissinglink

    mmissinglink Active Member

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    It's not hearsay....I was in communication directly with an agent from the New Century mint in China and at that time of last communication, he told me only 9 silver Snake Dance medals were minted and that likely no more would be minted because of the cost of minting such a medal is high and if they are not guaranteed that a dealer or wealthy individual would buy, they won't mint more.

    I might still have the e-mails from that conversation a couple years ago.




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  3. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    Agent of century mint or staff of century mint ?

    There are many of agents of century mint for different products and medals. However this series silver version only to the particular dealer as my understanding.

    A die cost around 5k to 8 k for small medal. It is not cost efficiency to mint only 9 except they can sell Super high to cover this costs.
     
  4. mmissinglink

    mmissinglink Active Member

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    Employee of the mint to be exact. There would be no reason this employee lied to me.



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  5. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    That means highly possible only the no as your say but this increase the cost significantly which seems dumb.
     
  6. mmissinglink

    mmissinglink Active Member

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    I don't know what it costs or what exactly is involved with producing silver medals of that size, that high relief, and that fine quality. Maybe the mint factored the piece meal production into the cost? It means that the mintage will probably remain very low.





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  7. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    The key costs is the designer and die. The silver is one of the portion of it.

    Higher mintage the die and designer costs average out. So lower mintage lead to higher costs.

    This is one of the approach of mint in cost calculation. Sometimes they use other methods.

    But this ultra Low actual mintage means the cost is higher and they need to price the item high in order to breakeven.
     
  8. mmissinglink

    mmissinglink Active Member

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    Yes, that seems like a logical explanation to me. I'm assuming the mint knows this and they have chosen to accept that they will need to charge a higher price for the very limited mintage silver medals. In the end, they are not losing money. In the end, those collectors who purchased one of these medals is happy knowing that the mintage is very low. So it seems like a win-win.





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  9. andrewlee10

    andrewlee10 Well-Known Member Silver Stacker

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    Make sense
     

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