Lunar Snake help

U

upandaway

Member
A question directed probably at the few dealers here. With the big drop and obviously huge purchases of some snake coins along with everything else, could someone tell me when the Perth Mint cuts re-orders for these coins?

I am chewing over a strategy of waiting the next few months to see if we get more downside (I have enough silver if wrong) and wish to buy snakes if we do. I recall when I purchased some dragons last year that a local dealer re-ordered for me as they didn't have them. Would this be possible with the snake? I will buy now if this isn't the case as my downside target is only $21 so it's not end of the world stuff, but if it will be possible to get the dealer to re-order up to a particular date late year then I would rather hang on.


Thanks all.
 
The year production have stop pronto. What ever the dealers have and the stockist have.
That all I can say. We are now in May and the new coin is out in Sept go and figures out yourself.
 
If you're talking about the 1oz bullion snake then some background might be helpful. PM has a production cap of 300,000 coins. All of which have surely been minted by now. The coins are then allocated to the dealers, who have all just about sold. There might be a slim chance an odd dealer here or there may have a portion of their allocation they haven't taken up, but I wouldn't count on it lasting too long. If you've got a reasonable size stack, access to a dealer who has some allocation left and are comfortable trading CFD's. Then a possible option would be to purchase the coins now (while stocks last) and hedge your stack with CFD's. That way if silver does go down further (which is your view), you'll have your coins and receive compensation via the CFD. However, if silver goes up, your CFD position will cause you pain.
Hope this helps and it's not individual financial advice because I don't know your personal circumstances.
 
Thanks hamster. No I wasn't talking about the 1 oz coin. It was mainly the 5 and possibly the 2 if we get a final low of around $21 (just my opinion). These I believe (correct me if wrong) are minted to order/demand ? As I said in the OP, when we had a spike down with the dragon still current release I asked the dealer for some, and they ordered for me from the supplier- it took about 2 or 3 weeks. I like pandas mainly, but the 5 oz Lunars are my second preference on bargain hunting. However, reading around the last day or two I think production has been suspended and I feel it unlikely that there will be anymore done until the deadline.

I am going to buy a few anyhow as once they are gone from the dealers I think prices become quite firm almost instantly on these in the second hand market. Precious little else appears of interest to me at the moment without a silly premium.
 
upandaway said:
Thanks hamster. No I wasn't talking about the 1 oz coin. It was mainly the 5 and possibly the 2 if we get a final low of around $21 (just my opinion). These I believe (correct me if wrong) are minted to order/demand ? As I said in the OP, when we had a spike down with the dragon still current release I asked the dealer for some, and they ordered for me from the supplier- it took about 2 or 3 weeks. I like pandas mainly, but the 5 oz Lunars are my second preference on bargain hunting. However, reading around the last day or two I think production has been suspended and I feel it unlikely that there will be anymore done until the deadline.

I am going to buy a few anyhow as once they are gone from the dealers I think prices become quite firm almost instantly on these in the second hand market. Precious little else appears of interest to me at the moment without a silly premium.
Click to expand...

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Ron Currie states in his mintage policy thread the following:

"All of the unlimited lunar coins will cease production at the end of the year. For example the 2012 Dragon unlimited coins will cease being made on 31 December 2012. The 2013 Snake unlimited coins will cease on 31 December 2013. (The one kilo lunars are in their own class and Perth will mint any of the old or newer releases as they want until the series finishes in 2019)"

See post 119 by Ron Currie
http://forums.silverstackers.com/viewtopic.php?pid=437382

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upandaway, as per Ron's statement, the suspension of the Lunar snakes could be lifted, even though the 2014 horse could be available to the market as of September 2013.

As an example, Perth could receive a wholesale order from any major German or United States dealer for a decent order for any of the snakes apart from 1oz coins and if that order was prior to 31 December 2013, Perth would probably go ahead with such an order.

Remember the Perth Mint Suspension is a temporary suspension. (See link)
http://www.perthmintbullion.com/au/...n_Three_Key_Products_During_Demand_Surge.aspx

H
 
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