Both. Actually, I would like to buy: Lunar Snake SII Silver 3 1/2 oz 100 1 oz 5-10 2 oz 5-10 5 oz 25 10 oz 11 1 kg 1-2 10 kg Gold 1 of each size, except no 10 kg and 3 of the 1 oz
Im saying the Snake Privys will come on a few dollars cheap when the momentum of Snakes is dwindling.. the duality effect will be a price decrease... at current levels id say that would push the non-privvy down under $40 anyway.. As the Dragon had further to fall ($65 - $55) we should expect less of a $ movement but id say a 15% drop would be expected. 1for1
Snakes sure will be getting cheaper in relation to stop once they stamp a privy on 200,000 of them in march !
I don't think the snakes would go below $40 at current levels. The Perth Mint sells 1oz (koala, kooks, snakes) coins for $42.92 each. I don't see any dealer selling any type of 1oz coins below $40 at current spot price. The snake 1oz hasn't really appreciated that much in price. Snakes seem like a pretty safe bet to me considering they have already sold out at the mint. The dragons were "overbought" and there were too many flippers (always a problem with the lunar series) causing the prices to drop.
I don't think the snakes would go below $40 at current levels - Why would you think that? Its only $1 off now so a drop in silver would do it... also they are the flavour of the month.. by next month they might be the ugly step sister! The Perth Mint sells 1oz (koala, kooks, snakes) coins for $42.92 each. I don't see any dealer selling any type of 1oz coins below $40 at current spot price. Really? Cos i see most coins at under $40 each.. id need to buy Pandas to PAY MORE! RCM 2013 antelope $37.50 Elephants - $37.50 91 Kooks $37.50 02 Kooks $37.50 2012 w/ drag privy Kooks $37.50 2013 Kooks $37.50 2012 Taku 2012 Berlin Bear Privy Koala noahs ark lesss. CMP ASE Scottsdale.. etc etc The snake 1oz hasn't really appreciated that much in price. Snakes seem like a pretty safe bet to me considering they have already sold out at the mint. LOL>.. exactly.. why would they... not much demand.. at $43 your much wiser stacking the rabbit and mouse which are long sold out at similar prices, Safe bet? I think cos you are OVERPAYING from the start youd need spot to go up $2 just to prevent a loss, if spot were to go down or compared to a better buy like the 2013 Antelope id say you have around $5 downside risk at current prices or with a small price down trend. A: Dragons were NOT OVERBOUGHT... there was such excess demand over supply they sold out immediately at decent price levels.. only distributors asking upwards of $60 per coin kept any type of stock. there were flippers becuase of the spread between the price they got rolls at and the secondary market ... ie: a quick flip from 40 - 60 ($20 profit per coin).. Obviously you CANT quick flip a coin you pay $42 for and make a profit when they arent even selling at online stores at that level... demand is NOT EVEN THERE at this current price level, in march when addtional snakes (and all other mint products) further dilute the market this will mean those chasing snakes will have far more options.. i myself also prefer the non-privy but the point is that its another SNAKE to put money into.. (reducing the demand for the non-privy snake).. the cheap lesser mintage may not be attractive to lunar collectors but but being cheaper and a very close sustitute can only be bad for the price of the non-pricy.. i predict the privy snake will be a spectacular disaster as the dragon was popular as its a dragon. As always good luck with your investing and ill see you on the other side.
Which dealer is selling them for $37.50? Regardless, I still don't think it would drop significantly below, Perth Mint sell price or dealer prices. Certainly not to $37 They wouldn't have sold out if there wasn't much demand. Plus you yourself said they are flavour of the month so obviously there is some demand. You don't have to wait for spot to increase to prevent a loss if you sell on the secondary market because you'll always get your premium back. If I was planning to sell back to a dealer, I would choose coins with less premium. There has been a steady decline in dragon prices since it's inception because there are not enough buyers to meet sellers. That means overbought to me I agree with you there. I don't think you can flip a snake bullion coin. I was more referring to the lunar series in general being affected by flippers more so than other coins, not the snake specifically. IF they release the privvy version, I don't think it'll affect values as much as it did on the dragon. It would be minimal because the snakes haven't really appreciated in value all that much plus the release of the privvy version is not unexpected this time so it could already be priced in the current snake 1ozs.
Dragons from the mint cost $50, it was only per-order dragons that sold for under $50. People don't sell at a loss unless that need fiat so I do not think we will see sub-$40 Snakes. Even if spot went back to $27. I stocked up on snake simple because lunar go up with spot but seldom go under release price. Thoughts?
Yes I agree. It was what I was alluding to earlier. It might go sub $40 but the likelihood of it happening is low unless spot drops significantly
Agree. And sometimes they go up with spot and when spot comes back they keep going up. Thought I was smart selling silver at the peak but I should've kept my lunars. C
Disagree... Dragons from the Mint were $40... Dragons from Bullion Bourse were $40... spot was around $4 higher last year. Seldom under release price? Well when you arent paying the NORMAL release price .. ie: $10 over spot instead of $6, then you are evidently opening up the likelyhood of getting bitten $4 for the LUNAR premium which never existed until the Dragon.. you are buying into this notion but there is nothing tangible preventing this price fall other than your expectation. RE: people dont sell at a loss... YES THEY DO... EG: 2012 Kookaburra.. sold out when these were still around $830 per roll of 20.. $41.50 per coin.. these are trading lower currently in the secondary market.. case in point.. i think lunars are stronger but think $35 is possible in the next calander year, if not before the privy version is released.. alot will depend on spot.. if it keeps going up new participants will bring the price up.. NEWBS RE: where Elephants at $37.50... THE WHOLE LIST is Bullion bourse 1for1
Here's a bit of an update on what a 2012 Australian Lunar Year of the Dragon 1oz Silver Bullion Coin cost. Last year, on the day of release, (01 September 2011) the 1oz Silver Dragon purchased from Perths bullion site, retailed for: $49.25 x 20 ($985) + $11.03 (Insurance) + $17.50 (Postage) a total of $1013.53 or $50.68 On the day of issue, the spot price for the above purchase was $43.23 Cheers H
It's always entertaining reading about the demand for lunars in one thread, and then the future price of silver in another... sometimes it's the same people scoffing at paying $1 more for a nice looking lunar, then saying $40 silver's gonna look cheap when it goes to the moooooon! Bloody hell.... when silver pops having a pretty snake or dragon on the coin will be the talk of the town I think. Still... keep it reasonable pay what you think's fair and keep in mind where you think the bullion price is going in a time-frame that you're planning to hold.
Yes, it is at the mercy of Silver price. If the silver price goes back to $27 or so, then snake coin may go to as low as $35. Snakes are NO dragon
I saw APMEX selling 2011 elephants for $38.07 (check or wire). Although their shipping to Aussie may be expensive. I bought 2012 elephants from them for $32 a coin, but it was a while back when silver was at $29 or so. http://www.apmex.com/Product/60654/2011_1_oz_Silver_Somalian_African_Elephant.aspx
