barsenault
Well-Known Member
wow, I'd mail that to the perth mint and say stick that up your kiesta, I'll never order them from you again...it would be worth the price tag.
Silver Kangaroo Coins and Milk Spots
- Thread starter Silverling
- Start date
Wow, I thought mine were badly spotted but not as severely as that
What’s your plans with them now, since the premium is gone? Would you hold them until melt price gets to what you paid for them, and then liquidate? I’m curious since I haven’t decided what I’ll do with my tubes of them.
Luckily for me i only got 1 tube. Also this coin was the worst, the rest are not as bad. (for now)
I won't even waste my time emailing them. They will just reply back with some generic response. I think it's clear they don't care.
barsenault
Well-Known Member
Or maybe attend a local show where they are present and show them...that is ridiculous. Or maybe slyguy will take it off your hands for spot plus $.50. It appears he doesn't mind white snow covering the beautiful silver metal. Lol.
whay
Well-Known Member
leo25 - With that coin, you just gave a new meaning to the term 'mint condition'.
SlyGuy
Active Member
I can pretty consistently find 2018/2019 brand new bullion or good looking used bullion for spot +50c or spot +$1 per coin by buying in quantity or using coupons and sale prices. I wouldn't intentionally buy significantly spotted or toned or scuffed coins for over spot... and I'd expect them under spot if buying more than about a roll of nick/scratch/spot/etc coins.
But yeah, I really will buy the milk spotted coins (kanga or any major govt bullion) for spot price... yes. I do require free shipping, though. The deal breaker would probably be the shipping to USA cost for most ppl (based on what I've seen in classifieds), but PM me if interested. As long as it is the same price for me, I would always rather buy coins from SS members than from ebay or coin/pawn shops. No joke.
We here in Australia always say we are in the lucky country. But unfortunately we can never buy silver at spot or spot + 50c. You are very lucky in USA to be able to buy silver that low. Cheapest we can get is a 1 oz overseas round for spot + $3.........
SlyGuy
Active Member
$3 over spot on generics??? Here, we can get generic silver for spot + 50c almost any time and any quantity, maybe $1 if it is a hot silver market. I suppose those mints (Sunshine, SilverTowne, Golden State, RMC, etc) are in USA, though.
I think the shipping is probably what kills you guys on pricing. Are there any generic mints in Australia?
that is why we do not agree with the generics, as they are $3 premium on them
not easy to recognized as compared to coins that can be traded for cheaper
locality play a part here and there. junks in Eu cost more as compared to US too
private mints, many must have closed shops...
There is ABC Bullion but they are the same. They have their own rounds, like the 1 oz ABC Minted Eureka round but they still charge $24.60 for 1 round, here is the link: https://www.abcbullion.com.au/store/silver. That's the same price as kangaroos.
The silver rounds you mentioned "sunshine, SilverTowne etc." are the cheapest rounds in Australia but they are still $3 over spot. Crazy hey, an overseas 999 silver round is cheaper than one made here. But that's Australia, we pay more for just about everything.
bron.suchecki
Well-Known Member
Yep, see https://www.silverstackers.com/foru...ectron-microscope-images-of-white-spot.59730/
Milk spots are not the same as tarnish, see link above. I was selling Perth Mint coins out of their Sydney outlet in 1994 and never saw or heard of milk spots. Brown tarnishing on older coins bought back, yes, but milk spots were not an issue.
On this topic I'll just reiterate comments I made almost two years ago https://www.silverstackers.com/foru...n-fixing-the-problem.82193/page-2#post-987690
"the Perth Mint has marketed many of its bullion coins as semi-collector (mirror finishes, limited mintage) with higher premium, but not same premium as proof. A grey area and it seems like we have a split in the market where some buyers see them as collector and want corresponding [quality] and others see them as bullion and so don't care. ... It seems pretty clear to me that sales have not been impacted, so the Mint whether public or privately owned is not getting any hit to their wallet so continues on."
Two years on from that comment and fours years from the electron microspoce image post and people are still buying them from all Mints, nor any class actions about misinforming people that coins may develop milk spot and secondary market premiums will be affected. So nothing will change as the market has spoken.
Hi Bron. The electron microscope images are no longer there, any change you can re-post them? Unfortunately i never got to see them.
JOHNLGALT
Well-Known Member
Hi Leo, If it was posted on the old website in the last 4 years or so I may have a copy on a C.D. or USB, I will have a look in the morning to see if I can find it.
Not in any condition to go rummaging through my records on a Friday night.
If I find something I will post it tomorrow, If not...
p.s. I remember Bron discussing this. My problem was with the tubes of Crocs.
I didn't mind the 9999 Kangas as I bought them as a bullion coin, but the Crocs were a nice coin and I was disappointed on opening a tube to see the milkiness. _JLG.
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bron.suchecki
Well-Known Member
No I can repost them as I don't work at the Perth Mint anymore.
SlyGuy
Active Member
Ok, well I suppose it is semantics. You see white spotting or films (sometimes faint greenish) on many older USA 90% coins, 999 ASE, and 9999 maples. Granted, the spots on maples seem to have gotten more prevalent in the last decade or so.
I just don't think it can be solved (and I agree that the market has spoken). The mirror finishes and semi-proof stuff is nice, but I view AgCl and/or toning as inevitable (although you might luck out sometimes). Silver is what the coins are made from... and chloride is in air, water, human skin/sweat, etc etc etc. Even just going from the mint press into tubes or from tubes into capsules, there is going to be chloride exposure. I think many people expect silver to age like gold. Capsules for storage, gloves for handling, and good mint processes will always cut down rates or frequency of the tarnishing, but the silver metal itself is just not immune to many forms of changes over time.
SlyGuy
Active Member
That is crazy. In the link below, you see spot $14.66 and kangaroos $16.56 for 2019 (any quantity) and as low as $16.11 for random year (bulk). Those are premiums of $1.90 and $1.45 USD , aka $2.65 and $2.02 AUD.
https://sdbullion.com/silver/perth-mint-silver-coins/australian-silver-kangaroo-coins
The generics are also quite a bit cheaper (you never tend to see more than about $1 USD over spot). The USA made generics or ASE or other North American coins make sense to be cheaper here, but that makes no sense that I can buy coins minted in AU at cheaper premiums than people living there (and those prices are even without any sale or coupon... but a pretty low-priced dealer). It seems someone or some shop would just have many monster boxes sent from the USA bullion dealers to Aust and have enough spread to do ok.... and maybe they do? I have a feeling the taxation or semi-monopoly of having just one govt mint and one private one might also affect your pricing. I guess we are lucky
That is crazy. In the link below, you see spot $14.66 and kangaroos $16.56 for 2019 (any quantity) and as low as $16.11 for random year (bulk). Those are premiums of $1.90 and $1.45 USD , aka $2.65 and $2.02 AUD.
https://sdbullion.com/silver/perth-mint-silver-coins/australian-silver-kangaroo-coins
The generics are also quite a bit cheaper (you never tend to see more than about $1 USD over spot). The USA made generics or ASE or other North American coins make sense to be cheaper here, but that makes no sense that I can buy coins minted in AU at cheaper premiums than people living there (and those prices are even without any sale or coupon... but a pretty low-priced dealer). It seems someone or some shop would just have many monster boxes sent from the USA bullion dealers to Aust and have enough spread to do ok.... and maybe they do? I have a feeling the taxation or semi-monopoly of having just one govt mint and one private one might also affect your pricing. I guess we are lucky
You guys are undoubtably lucky to have the pricing you do over there! I’m taking holidays next year and was thinking of heading to the US for a stop-over... may just have to bring a small suitcase with me so I can load it up with that cheap silver before I come back to Aus
That's pretty shocking considering they are just out, the bulk of my stack is Britannias just in case silver ever does go to the moon as it would be easy to hit the capital gains tax level easily enough then. I have mostly this years with the dimply finish. I have a tube of this years Somalian Elephants that apparently are suffering more from milk spots as well and these I hoped to flip in a few years time.
It looks like whatever the Perth mint is doing to make the coins that bit cheaper like the Funnel Webs and the Saltwater Crocs and now the Kangaroos that milk spotting is part and parcel of this lower premium price.
It looks like whatever the Perth mint is doing to make the coins that bit cheaper like the Funnel Webs and the Saltwater Crocs and now the Kangaroos that milk spotting is part and parcel of this lower premium price.