I dont think that we have to wait for a year to find out. If SPOT remains between $35-$40 AUD by the time they get delivered ( Aug or Sep ) i believe they will sell for $80 easy , especially on eBay ( American and German ) however will they be delivered ?! or will you guys end up with Koalas and an apologetic and empathetic letter from the Mint. Those who bought these coins for $40-$45 AND take physical delivery AND SPOT has remained pretty much where it is now, than good purchase. But logical thinking leads me to believe that Either you wont get them ( will get other silver coins instead ) OR SPOT will drop to $20 ( within 2 months ) OR what you expect will happen and you will be able to flip them and double your money. But dont put to much weighting on my opinions regards these Lunars, as I dont buy Perth Mint coins or 0.999 $42 ( when spot is $34 ) coins anyways.
Can't supply a link to prove ,but the 2007 specimen kook was re-released this year.I know ,because I got some. My dismay comes from the Perth Mint just deciding to "Up" the mintage level because of so called demand.I have bought all the 1 oz kooks on the basis that some of them have reached the limit of 300,000. I presume they could do this with any of their products..No crediblity there Sorry to hijack the topic of Dragons ,but it is relevant to them as well
I'd be very surprised if they break there mintage lv after saying that 300k is there limit a few times. they didn't break it for mice(fill out the 300k) or rabbits which sold out only a few months after release, they might make 500k 1/2oz Dragons.
It would be a shame for those stackers who purchased them in the year that they were released but I would jump at the chance of picking up old kooks @ new kook rates, will keep my eyes wide open
So far ive been amazed by the negative sentiment of members here on silver stackers. Im hearing that it may be a bad idea to by these highly sought after Lunar Dragons. - Too much over spot (Ok - these about as cheap as you can get for 1 oz rounds) - Risk of default (So waiting 6 weeks delivery from ABC etc dosent carry the same risk?) - Price might go down... (LOL.. yeah its already down 33% and has consolidated for a month -- yes it may.. but really your just guessing so that variable remains constant). Having your money in the bank is also a default risk... Aus banks are no longer govt secured... Banks have defaulted before... blah blah blah ... The only arguments that make sense here is buying silver for immediate delivery instead OR Holding and waiting for a cheaper spot price... if spot does go back to 20... do you really think Dragons will be available at that price.. i surely dont. Id say $40 will be the absolute price floor for dragons.. i respect your decsion to buy other silver closer to what spot could be but my crystal ball has cost me too much with the last power bill and my mrs made me unplug it.. so i decided to go the safe route and buy some knowing: (possible risks) Bank Default threat Announcment of another round of stimulus... Australian dollar crash Aus offical recession + any other event which could see silver on our shores increase in value (although it seems im the lone cowboy factoring in a price rise) Last speil - Do you really think people are going to part with their dragons once they are holding? Thats one heck of a gamble.. if history is anything to go by people and there lunar dragons will be inseperable...be yeah you could be right.. you might be able to wander into a coin shop and buy on a whimper .. unless the mint pulls out a sneaky mintage increase then i dont rate your chances. 1for1
+1 No Guts ..No Glory That is sure to shut the naysayers up! Only kidding..bring on the great debate...........
As for deposits in a bank not being safe from bank default, in reality they are. Do you think any Federal Government would not step in the guarantee the savings of people in say the Commonwealth Bank if it went into bankruptcy? Of course not. The Government would have to guarantee all deposits in the big 4 banks.
I don't need 20 of them, just a couple. I will take my chances when they are released and see if anyone on the forums weants to sell one or two, If not will buy some other silver instead, I miss out on potential premiums but I still get to add to my stash so I win either way. I think people are gambling on the price of silver increasing so they want to lock in a price now. This is at odds wih the more pessimistic feel that the threads have at the moment but who said we have to be rational? I think it hghly likely that the dragons will turn up and will be every bit as collectable as people are hoping. I am also expecting to have to pay a bit of a premium to get the two I want but I am happy to do that. You take the risk you deserve the reward.
I have ordered some Dragons from Bullion Bourse, if PM was to increase the mintage limit over the stated limit "due to demand" then I will never purchase another PM coin out of principle again.
Well if the PM were to up the 300k lunar limit I'd be putting in my complaint (for what its worth) to the WA Government, Office of Fair Trading and anyone else I could think of alleging misconduct and false advertising by the Mint. They have publicly stated 300k is the limit so, far as I'm concerned, anything else would be deceptive conduct.
300,000oz for 1oz bullion specimen Dragons is fixed by law. It can't be adjusted, it was set at the beginning of the series as part of the federal government approval for the coin series. Coloureds, proofs and gilded - not limited.
Does that law also apply to the stated mintage of 300,000 for 1 oz spec. kooks? It has been alleged the limit could be upped to 500,000
