Buying coins from Perth mint

S

Sally

New Member
I am new
I have read and researched and read...well you get it
The advise to newbies seems to be to buy Eagles, maples, koalas etc.
I'm in Australia so I have decided on koalas
If you buy them from the mint there is a price, however koalas from previous years are much cheaper on eBay.
So my questions are

Which year is best to buy
Why buy coins if they do not appreciate in value
Are bars better and if so should I be buying from the Perth mint or somewhere else

Any help to a new stacker would be much apprciated
 
Hi Sally and welcome. Im new here too but can answer some of your questions.
The first question you must answer yourself is why are you going to start buying precious metals? is it because of investment or just an avid coin collector
Prices are higher on coins generally because of the manufacturing costs (design etc) compared to that or standard bars.
The price will also fluctuate due to the mintage (amount made) the more rare they are compared to others the more premium they will have.
It will also come down to demand. (This will answer your question about what year to buy)

The mintage numbers can be found on the mint websites.

This is all great if you love coins but if you think silver is silver or gold is gold most people will stick to bullion bars etc not not pay the larger premiums that go with the coins. However there are good returns on certain coins compared bullion bars.

Are you from WA. Im asking as you referenced Perth mint.
It is not always cheaper to go to the source as a lot of times, as I have found the same perth mint products at Perthbullion or ABC for cheaper.

On a more important note.. be very careful of Ebay. There are a lot of fakes. Only buy from reputable people if you do buy on Ebay. Personally I will never buy anything from Ebay.
The good thing about this website everyone gets to review everyone else when they buy and sell products here. They are an awesome group here.
 
Yep stay away from ebay.
Your safe with kooks/koalas/lunar - pretty much anything from perth mint.
I think the koala is under rated, being they had an open mintage people stayed clear of them opting for kooks and lunar - the result is some pretty low mintages for the koala, especially the older ones.
In the end its your personal choice, but no one here likes to see people get stung buying from places like ebay, stick to the mint, local dealers and offers from the trading forum here and you should be safe.
 
Dealers selling Perth Mint Products will usually offer them cheaper than the Perth Mint if you are buying in small amounts.

Buying a single coin from the Perth Mint means you pay full price.

A dealer will buy thousands of coins and get a bulk discount, some of which they will pass on to their customers who only buy a single coin.

Dealers don't usually want to get stuck with last years coins, there are so many new coins coming out that get more hype, last thing you need is older coins which are harder to shift than the newer versions. Hence the dealers may pass on more of their bulk discounts to make the older stock more attractive.

I never look at my coins, they just go straight out as gifts or I chuck them in a box. For this reason I don't buy coins any more. I just want cheap silver so I buy bars. they probably won't go up in value much.

The coins may or may not go up in value, I am betting they won't. As soon as a new idea for a coin comes out and is successful, every mint in the world copies it and dilutes he uniqueness of the original coin. You see this everywhere. The Mint brings out a circulating $2 coloured coin, people pay $12 each for them, fast forward a couple of years and the mint is producing 6-7 of them and you can only get them in presentation folders or from eBay.

I am not a big fan of the quality of Perth Mint Products. I just bought 5 of the 2016 PM Kangaroos and three of them are stained (they don't look like milk spots, just stains). It is unlikely that these will be worth much more than spot because of the detracting marks so I would have been better off spending the money on bars.
 
Unfortunately... I disagree slightly. For bullion I'm now convinced to by and sell on this forum primarily (like about 250 oz of silver recently).

For coins, I have found bargains elsewhere, like from shops that didn't know their "old stock" had gone up in price, online dealers who match stock so tightly that you can watch for the peaks and troughs to make purchases and some very reasonable prices.

For one coin to complete a set I had to buy off EBay.

But besides those marginal cases, why would I lose 4% going to a bullion dealer when I can sell here either at or above spot? Why would I buy from a bullion dealer well above spot for a product that doesn't change with age? Agree - Buy from reputable members on the forum.
 
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