Someone please explain this to me

[buckeyecoins]

Ok seasoned stackers/collectors, please explain to me why a first year of issue coin with only 5000 mintage sold for basically spot price:

https://www.ebay.com/itm/2017-Perth-Mint-Australia-100-00-Gold-Swan-9999-1-Ounce-Bullion-coin/202116458730 

Somebody got a heck of a deal on that.

[buckeyecoins]

Sorry meant to post this in the gold section.  Mods please move if you'd like.

[fehk2001]

not many people do one ounce  GOLD coins 

[Xander]

Low mintage doesn't necessarily = high value.

[reidpj]

13 minutes ago, Xander said:

Low mintage doesn't necessarily = high value.

Totally agree.  I've a 2000 St Helena proof gold 50p (AGW 1.410 ozt) from a limited issue of only 100.  Were I to sell it, I doubt that I get much of a premium above spot.

[Oldun]

Supply demand. That is basic economics...Too many supplied and not enough demand.....

[Sal]

2 hours ago, fehk2001 said:

not many people do one ounce  GOLD coins 

Only the wealthy Chinese and other Asian countries. Think China is buying silver. Just cheap brits stack silver. You should of said no many Silver Forum members buy one ounce gold. But you will buy silver at much higher percentage  premiums that most gold one ounce coins.

[Sal]

2 hours ago, reidpj said:

Totally agree.  I've a 2000 St Helena proof gold 50p (AGW 1.410 ozt) from a limited issue of only 100.  Were I to sell it, I doubt that I get much of a premium above spot.

And look at all the members on here scrambling to buy the Rwanda gold bu series to pawn it off on some naive uneducated collector at spot plus 100%-200% markup. 

[fehk2001]

1 hour ago, Sal said:

Only the wealthy Chinese and other Asian countries. Think China is buying silver. Just cheap brits stack silver. You should of said no many Silver Forum members buy one ounce gold. But you will buy silver at much higher percentage  premiums that most gold one ounce coins.

china people buying ( like silver )?????  I didn't know that ........ thanks for the info 

[sovereignsteve]

8 hours ago, Sal said:

Only the wealthy Chinese and other Asian countries. Think China is buying silver. Just cheap brits stack silver. You should of said no many Silver Forum members buy one ounce gold. But you will buy silver at much higher percentage  premiums that most gold one ounce coins.

Doesn't alter the fact that very few 1 oz gold coins ever attract a premium on the secondary market.

[reidpj]

10 hours ago, reidpj said:

Totally agree.  I've a 2000 St Helena proof gold 50p (AGW 1.410 ozt) from a limited issue of only 100.  Were I to sell it, I doubt that I get much of a premium above spot.

Mind you, I did manage to get a fairy hefty premium, over spot, for a 1999 proof gold Diana £5, recently.  That edition was limited to 7500.  The asking prices on eBay probably helped a lot ?

[kimchi]

14 hours ago, fehk2001 said:

not many people do one ounce  GOLD coins 

 

12 hours ago, Sal said:

Only the wealthy Chinese and other Asian countries. Think China is buying silver. Just cheap brits stack silver. You should of said no many Silver Forum members buy one ounce gold. But you will buy silver at much higher percentage  premiums that most gold one ounce coins.

Oh I don't know about that...I reckon quite a few members on here will have ounce bullion coins, there's just not much to talk about with them really, is there?

Obviously the number of us who buy numismatic or semi-numismatic ounces will be much smaller.

Off-forum my bet is that many Old Money folk will be buying all they can get their hands on right now while the paper price remains where it is.

[kimchi]

15 hours ago, buckeyecoins said:

Ok seasoned stackers/collectors, please explain to me why a first year of issue coin with only 5000 mintage sold for basically spot price:

https://www.ebay.com/itm/2017-Perth-Mint-Australia-100-00-Gold-Swan-9999-1-Ounce-Bullion-coin/202116458730 

Somebody got a heck of a deal on that.

That did go very cheap. Not a coin that's grabbed me personally in either silver or gold but if the series improves and establishes itself, and they don't milk it, that could be a winner imvho. Certainly at that price it's a no-lose!

[flim]

the mint sold to the buyer (the one who commission the coin), keep some to satisfied the loudest of noises 

it is comical to see people just bidding up the price like no other that bear the swan's mark, this is tulip mania re-play in cyber spaces 

[Sal]

45 minutes ago, kimchi said:

That did go very cheap. Not a coin that's grabbed me personally in either silver or gold but if the series improves and establishes itself, and they don't milk it, that could be a winner imvho. Certainly at that price it's a no-lose!

As a percentage over spot gold will sell at a much lower premium than silver. Don't even try to compare even the most expensive gold bullion coin premium to SP premiums. And where do most of those high premium silver proofs go? To the scrap metal pile. I'll stick to bullion gold and the occasional gold proof (Libertads mostly)and won't lose as much on my hobby than silver proof collectors.

[kimchi]

Just now, Sal said:

As a percentage over spot gold will sell at a much lower premium than silver. Don't even try to compare even the most expensive gold bullion coin premium to SP premiums. And where do most of those high premium silver proofs go? To the scrap metal pile. I'll stick to bullion gold and the occasional gold proof (Libertads mostly)and won't lose as much on my hobby than silver proof collectors.

A good strategy imho, but I wasn't comparing this sold gold ounce to any kind of silver - I was comparing it to bullion gold prices in the US.

Just picked up some nice Libertad proofs myself actually, can't wait to see them

[Sal]

16 hours ago, buckeyecoins said:

Ok seasoned stackers/collectors, please explain to me why a first year of issue coin with only 5000 mintage sold for basically spot price:

https://www.ebay.com/itm/2017-Perth-Mint-Australia-100-00-Gold-Swan-9999-1-Ounce-Bullion-coin/202116458730 

Somebody got a heck of a deal on that.

Not that great of deal when you factor in the $25 shipping. What did the buyer save vs. buying the coin from high priced APMEX?  Maybe $50?  3%-4%. 10% restocking fee if you have to return the coin for any reason. No thanks

[buckeyecoins]

31 minutes ago, Sal said:

As a percentage over spot gold will sell at a much lower premium than silver. 

This is because the average collector (including myself) cannot afford to buy 10 oz of gold but they can afford 10 oz of silver.  Silver is in high demand right now and dealers are cashing in big time on the silver-stacking craze.  

13 minutes ago, Sal said:

Not that great of deal when you factor in the $25 shipping. What did the buyer save vs. buying the coin from high priced APMEX?  Maybe $50?  3%-4% 

Perhaps not now that I think about it...I hadn't looked up what the APMEX sell price was.  Still any time you can pick up a coin like that at or close to spot it's a good deal.

[Kman]

Id be interested in a list compiled of the highest premium modern 1 oz gold coins

 

 

 

 

[buckeyecoins]

21 minutes ago, Kman said:

Id be interested in a list compiled of the highest premium modern 1 oz gold coins

I would too.  I'd be surprised if the Rwanda issues weren't near (or at) the top of the list as far as premiums go.

[fehk2001]

10 minutes ago, buckeyecoins said:

I would too.  I'd be surprised if the Rwanda issues weren't near (or at) the top of the list as far as premiums go.

Add on : For modern coins 

[buckeyecoins]

3 minutes ago, fehk2001 said:

Add on : For modern coins 

Are the Rwanda issues not modern?

[Sal]

1 hour ago, Kman said:

Id be interested in a list compiled of the highest premium modern 1 oz gold coins

 

 

 

 

While we are at it might as well add silver coins as well. It will be tough because the premium is always moving around. Guess you could base it on issue date premium. Sounds like a waste of time to me.

[fehk2001]

2 hours ago, buckeyecoins said:

Are the Rwanda issues not modern?

 

2 hours ago, buckeyecoins said:

Are the Rwanda issues not modern?

What I mean is for modern coins range it is a big premium but for classic coin it's not