New Dragon - Privy Mark
- Thread starter ninteno
- Start date
Squiggles said:
Well I don't think you can go far wrong with Perth Mint, 1oz Dragons at Bullion prices, especially as they are even more limited than the original "official" release.
They don't have much love here at the moment because of their association with shoddy business practices from the mint.
They will make a great keepsake, the straw that broke the camel's back!
Squiggles
New Member
Jislizard said:
Thanks Jislizard. I had been trying to grab some last week but was getting an error during checkout. I ended up ringing the mint and they said they aren't available and they don't know if or when they will be, so I though what the hell I'll just keep trying, today when the order actually went through I was like crap there goes $450 lol.
Matthew 26:14
New Member
Well you can all buy my allocation as I'm buying zero.
Matthew 26:14
New Member
The Perth Mint owes its customers nothing? Well I guess they can but its not the soundest of business practices. I think the main anger is that these privy Dragons werent announced as going to be produced and of course no mintage was known (200,000 is massive!) and they are so very similar to the bullion version.
It is known and accepted that the Perth Mint will make coloured, gilded and proof versions of their bullion coins but this Privy version came out of the blue with no announcement/warning with a seriously large mintage (not some 5,000 or 10,000 run)
The Perth Mint always tries to maintain its appearance of "honesty". On the one hand continually vowing not to raise the 300,000 mintage but on the other hand the Perth Mint is now obviously trying to circumvent the restrictions a 300k limit places on them.
It is known and accepted that the Perth Mint will make coloured, gilded and proof versions of their bullion coins but this Privy version came out of the blue with no announcement/warning with a seriously large mintage (not some 5,000 or 10,000 run)
The Perth Mint always tries to maintain its appearance of "honesty". On the one hand continually vowing not to raise the 300,000 mintage but on the other hand the Perth Mint is now obviously trying to circumvent the restrictions a 300k limit places on them.
Regarding re-minting previous year lunars with privy marks.... god help us!
Matthew 26:14
New Member
heartastack said:
I'm sure the Perth Mint would do it if there was a sufficient profit to do so. But at this stage I cant see their being a market for any series 2 1oz coins and certainly not at a 200k mintage.
On the other hand, a small "privy" run of the 2oz Mouse and the 2oz Ox for example, say 10,000 each sure would be worth the Perth Mint's time but gee, that would REALLY piss people off.
silverstar1
New Member
Matthew 26:14 said:
Yes I think what people are most upset about is the size of the mintage and same basic design, 2/3 of the entire mintage is huge , 5000-10000 mintage I dont think would have caused the upset, anyone would have to admit when given the facts it is just dishonest pure and simple. As far as the mint doing something that would REALLY piss people off , I dont think they really care. On the bright side they do make very nice quality coins .
I wonder what the german company who bought them think of the release at the same time as the other bullion versions comeing out and all the others.
Also interesting they are releasing another 10 coin colored set , when the first one (9 coins) was supposed to be a mintage of 20,000 .
Eventually they might lose confidence of their semi nuministic customers on this stuff.
Matthew 26:14
New Member
^^^ Regarding the coin colored set, that 20,000 set was marketed specifically to China (hence the Chinese display box). I suppose this next 10 coin set is therefore for the "non-China".
Matthew 26:14 said:
I am sure if they did this it would be purely to upset the Australian customers!
The Perth Mint would only be able to sell them at the bullion price as they are not numismatic. All the extra money is made on the secondry market by people speculating on the value skyrocketing.
This would mean of course that the Perth Mint would be able to turn them over very quickly, especially if they were selling them to an overseas company. They would probably be happy with the fast turnover of stock but it would require remaking the dies with the privy mark.
If they wanted to sell silver quickly they could just mint the other size dragons without the need to retool any dies.
I guess the best reason for doing it would be that as the privy mark seems to be an ongoing thing, minting them retrospectively means that anyone wanting the full set will have to buy the old ones.
I guess we will see how long it takes to drain the 200,000 1oz Privy Dragons, if it takes too long them might not bother, but if they have all dissapeared off the shelf, who knows...
Au-mageddon
Active Member
Just saw 4 Lunar dragon Series 2 (NON-PRIVY) coins sell for $202.50 on ebay.
WOULDNT HAVE SEEN THAT 4 weeks ago !!
Hope that is the exception rather than the rule, for all you stackers holding them.
WOULDNT HAVE SEEN THAT 4 weeks ago !!
Hope that is the exception rather than the rule, for all you stackers holding them.
Au-mageddon said:
I was bidding on one set ,I let it go at $300
Au-mageddon said:
I think it is a bit early for them to be come a highly sought after item, there were 300,000 of them made and most it would appear were grabbed by speculators who slowly released them onto the market to get the big returns.
Speculators who didn't get the amount they wanted then paid high prices because, like houses, prices only go up. Now the prices are not as high there is less demand from the speculation side and more demand from people who just want a few for their sets or to put aside for a few years. these people don't expect to flip them for massive gains so won't pay the higher prices.
I wasn't around for the Series 1 dragon release but I am given the impression that it took years for it to get to the price that it is today and that was not through speculation but through natural market forces or supply and demand.
In 10 years time I think these will be just as good performers as the series 1 regardless of spot price at the time.
Mind you, silver isn't as exciting as it was a few months ago, we could do with a new dragon variety.
Au-mageddon
Active Member
Jislizard said:
Shhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh !!!!
Someone from PM Planning may be reading
I can see it now .........
Coming soon:
THE MUST HAVE SET OF THE YEAR !!!! .....
2012 "Its not another Lunar" High Relief Dragon with Kookaburra Privy AND
2012 "Its not another Lunar" High Relief Kookaburra with Dragon Privy