I like the bit at the bottom.... "Silver is on the rise" "Invest in silver now" @ $215 an ounce Yeah, right.................. :lol:
Congrats, I think you have done well. There was always going to be an immediate demand on ebay and the like with all the hype. As more get released around the world the hype will fall and life will go on (until next year). Those that have profited have done well and the sales confirm that these prices are being realised ($150+) on ebay very consistently.
Ebay now getting many more listed so I don't think we have seen stability yet - prices seem to be creeping backwards. Wait until we have seen a week or two of volume selling before you think about stability. Even on here (SS) we are seeing prices drop: http://forums.silverstackers.com/topic-14691-sold-cbr-for-sale-10-x-1oz-dragon-2012.html The price had to be brought back to $850 for 10 before the sold flag went up. malachii
Looks like a role of dragon's sold for $2295 on my watch list. I'm on my phone so can't paste the item number but it's in the completed listings.
As the seller... I got two very low offers before the price drop, then afterwards a flood of offers at the asking price. Naive as it might sound, I didn't mind selling for less than $100 a coin as I have some ethical dissonance with the thought of gouging relentlessly, plus i'm not living on foodstamps or anything. I just wanted to partly cover the cost of the remaining 10 coins that I will hold. Initially I posted that I would prefer to sell to someone who missed their allocation, but scrapped that when I got only lowball offers. That said, I am sure I could have got 900-950 if I had been more patient. I totally agree that it is ludicrous that a 2012 Dragon might sell for more than a 2000 Dragon. You can tell something 'aint right there.
It looks to me like this is turning out to be the big delivery week for the dragons(at least here in oz) I guess everyone that has bought the dragons to flip will try now.. The dragons might be the cheapest they will ever be in next few weeks,as the people who want to make a quick buck sell and the people who really want them buy,but don't plan to sell them again any time soon. Who really knows...... Just my 2c
+1 I know that some Oz dealers are only now receiving the bulk of their allocations so will be starting to ship larger pre-orders... if any of those buys are looking to flip, you should see bulk coins hitting the market in the next week or so... Whether this will drive the price down it is yet to be seen. Personally, I think this being the dragon release, I can see a lot of the private buyers hoarding these coins, so if adequate sale prices arent met, the coins will simply disappear from the market, reducing availability and creating a resistance level @ the 85-100 mark.... and with some dealers already creating a floor at around the $80 mark (minus shipping) i certainly cant see it moving lower than that. Either way it goes its going to be an interesting few weeks! I could be wrong though just my 2c.
"I guess everyone that has bought the dragons to flip will try now.." OK well this is empirically incorrect - of course everyone wont.. even if your only exaggerating its still a huge distortion of reality. Only a portion of those buying dragons are looking to quickly flip.. My safe hands will be keeping at least 90% if i can bear to sell ANY.. the fact SS are selling eachother dragons at $100 suggests just how reluctant owners of the 1 oz are to part with it.. even (SOME) coin shops are risking there names being dragged through mud to keep them in stock. I say anyone expecting the secondary market to fall off a cliff or for there to be a sudden gush of 1oz are being overly-optimistic.. I wont be surprised to see the S2 surpass the s1 dragon in cost despite the 2000 having a 3rd the mintage and being minted 12 years back The lesson is for unschooled economist's (actually WORLDLY economists).. that there are a number of variables effecting price.. DEMAND and SUPPLY are two.... within those two it can break down into a range of variables... id say the unprecidented hype, build-up, anticipation, massively increased demand, lunar set collectors, decent price compared to other bullion, low mintage etc.. have alligned to make the 2012 some kind of UBER-INVESTMENT.. the stars have alligned and now 2012 lunar dragons are the investment vessel of choice for a huge world silver investor market.. just cannot be compared to 2000 when i bet most of us didnt own an ounce. Happy to debate.. bring it on! 1for1
Just got my dispatch notification from the Perth Mint for my 1oz proof and 3-coin set proof I ordered on the day they were released.
I think you are correct, supply and demand have many motivators. But of all of those motivators, which ones will persist over time? For numismatics, scarcity is probably the strongest driver, IMO, although only second to aesthetics and then probably market awareness. - Scarcity Three times as common as the 2000 dragon. BUT, if people aren't selling them, is the pool of 'available' dragons actually all that high? IMO, yes, very much so. How many dragon coins do you want/need? 1 or 20? Just a few coins might be enough for many people, leaving 15+ coins for the market. Again, IMO. - Aesthetics Roughly a mirror design of the 2000 coin. Not particularly special, in fact i've noticed the design is quite flat and not as raised as the 2000 coin. However, and i think this should be lumped in here, the 'dragon' is highly desirable for its symbolism. - Market awareness/desirability Very strong market awareness. People from all over the world know about this coin, and this is possibly one of it's strongest demand drivers. Do you see people from Germany seeking out the 1930 Australian penny? Probably not so much. But they'd be all over this coin because the market is highly aware of it. (It is hard to desire something you don't know about). Overall I think that the current really strong demand drivers are fleeting. Will 'hands' (supply) be strong enough to ignore the potential benefits of selling some of their coins? Sell half a roll and buy 20 or 30 (or 40!) generic bullion coins in it's place. Pretty hard to resist unless you have grand plans for all 20 dragons. Question: Who has 20 of the 2000 Dragons? Who here woul'd want to have 20 of those, rather than say 5 and a bunch of other coins in their collection? (Obviously we are assuming some equivalent value). I probably won't strongly debate this position of mine - i'm just thinking out loud. I'm pretty keen to see what other people think about it all. Although I do notice a tendency for people on this forum to drift over to the "i'll be rich!" side of the pond
If you dont need the funds, I'd hang onto them... I think they will be a good investment over time...
It's just amazing me that people are buying them for almost the same price as the original 2000 series. Which took 12 years to get to that point!
The only reason for time is so that everything doesn't happen at once. Maybe people have forgotten this..............