Lunar Dragons - Tiny Australian Dealer Allocations
- Thread starter Matthew 26:14
- Start date
Foreigners should get the coloured dragons just like before, and Perth Mint should meet local bullion demand before they export.
If the dragons get higher premium better if that premium stays this country than we sending our money oversees to buy back our own products with higher prices just to help out the US trade deficit.
What the American European will say!!
Look at those stupid Australians they selling the dragons for us for $40 and buying them back for $60. If we just send $20/cion oversees we would save on postage both way
If the dragons get higher premium better if that premium stays this country than we sending our money oversees to buy back our own products with higher prices just to help out the US trade deficit.
What the American European will say!!
Look at those stupid Australians they selling the dragons for us for $40 and buying them back for $60. If we just send $20/cion oversees we would save on postage both way
Bullion Baron said:
So let me get this straight. There is a "rumour" that the promised allocations to dealers will be reneged upon but nothing concrete?
Secondly, the part that I can't understand, dealers started selling pre-order dragons on a verbal agreement with the PM? Nothing was concrete?
Lovey80 said:
I imagine the Australian dealers assumed that the Perth Mint, being an Australian mint and the manufacturers of the Australian government's official Gold and Silver Bullion Coin Program would supply Australian dealers ahead of their foreign competitors.
It appears that instead the Australian dealers are going to get shafted.
unfunkable
Active Member
not going to get shafted
DID get shafted
DID get shafted
Matthew 26:14
New Member
Big A.D. said:
That's my understanding as well. Australian bullion dealers looked back at their past allocations and ASSUMED they would get a similar allocation so they pre-sold a proportion of what they thought they would receive. The dealers put in "get out" clauses (which I guess they had to do) of a refund or exchange for other coins in the event they didn't get enough 1oz dragons.
I reckon if the pre-selling bullion dealers knew they were only going to get from the Perth Mint 1 out of every 10 coins they thought they would then, they would have never done pre-orders. It will be a god-awful mess that's for sure.
A way out for the Perth Mint would be for them to get the Australian taxpayer to send $10 to Europe and the USA for every one of the 1oz dragons they have allocated there and reneg keeping the coins to be sold in Australia. Because the net result of the Perth Mint's decision is, $2.5 - $2.8 million going out of Australia.
It's under embargo until the release date.
Matthew 26:14
New Member
aleks said:
Wait for the full facts to be known and then we'll picket that place !
Matthew 26:14
New Member
As it's said on the Simpsons "there's no justice like mob justice!"
But seriously, if there's some complaints raised then with the Snake, Horse etc to come, maybe Australians wont be shafted by their own government run mint !
But seriously, if there's some complaints raised then with the Snake, Horse etc to come, maybe Australians wont be shafted by their own government run mint !
projack said:
Nah of course they're interested in the local market, who else is going to buy those Royal Wedding proof coins.
But seriously, when its cheaper to buy 1/10oz Gold Rabbits overseas and ship it over here than it is to buy at the Perth Mint in person it's just stupid.
Matthew 26:14
New Member
I see the point with perth mint products like the unlimited mintage koalas that a large distributor can get a discount price from the mint because they will order like 50,000 coins or something in 1 hit.
But when the mint knows that a product is essentially sold out before release, to then favour the big boys over the little guy is just what makes this episode sick.
But when the mint knows that a product is essentially sold out before release, to then favour the big boys over the little guy is just what makes this episode sick.