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999magnum

2017 South Korea ZI:SIN Gallus 1 Oz Silver Bullion

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This is coming next year. With the success of the 2016 Chiwoo in the secondary market, will this follow its footsteps or become a high premium flop like the 2017 Chiwoo?

 

https://www.gainesvillecoins.com/products/177813/2017-south-korea-zisin-gallus-1-oz-silver-bullion-1-clay-komsco-mintage-33300

 

https://www.apmex.com/product/159413/2017-south-korea-1-oz-silver-zisin-gallus-bu

Edited by 999magnum

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7 minutes ago, 999magnum said:

Who is "They"? KOMSCO? The evil plotting price gouging big retailers?

 At the urge of the US distributors, yes. Just like Apmex recently "discovering" the "lost" 2016 chiwoo gold & silver proofs.

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29 minutes ago, swAgger said:

 At the urge of the US distributors, yes. Just like Apmex recently "discovering" the "lost" 2016 chiwoo gold & silver proofs.

I hear more and more of companies doing us dirty. I read about BGAS.com(?), APMEX, Modern Coin Mart and some of the things they did in the past. Is this the only way they can make money? Geez is it just greed? How many times can you say you found gold in your warehouse from a highly sought after series?

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4 minutes ago, 999magnum said:

I hear more and more of companies doing us dirty. I read about BGAS.com(?), APMEX, Modern Coin Mart and some of the things they did in the past. Is this the only way they can make money? Geez is it just greed? How many times can you say you found gold in your warehouse from a highly sought after series?

It's greed when they list something at a ridiculous price right out of the gate, or quickly increase prices when they get wind it's popular. Or release a new item linked to a previous hit, and market/price those too as hit items. But in general i hesitate to say they are always playing a dirty game. They are in the business to make money. By whatever means. Especially after the downturn this year they will have had. In the end, we all have a choice and simply don't have to buy.

BUT, as for the 2017 ZI:SIN, although we know what they are trying to do (ride on back of the chiwoo), it's not really greedy or dirty play here. After all, the price is very reasonable, it's a nice design too, and it's going to be a series of 11 more nice designs probably. Buying these attractive rounds is not going to carry too much risk at that launch price. So if you were drawn to it and you liked it, don't take too much negativity you might read on board. Buy what you like, if you're comfortable with the price.

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3 minutes ago, swAgger said:

BUT, as for the 2017 ZI:SIN, although we know what they are trying to do (ride on back of the chiwoo)

I wonder if it will work. We will find out soon enough. January is just around the corner. As for the price I remember reading the 2016 Chiwoos being reasonable then all of a sudden doubling in price overnight. I don't think this design is as intricate and beautiful as the Chiwoos, but my interest in it is purely curiosity as to exactly what you've said. 

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12 minutes ago, swAgger said:

It's greed when they list something at a ridiculous price right out of the gate, or quickly increase prices when they get wind it's popular. Or release a new item linked to a previous hit, and market/price those too as hit items. But in general i hesitate to say they are always playing a dirty game. They are in the business to make money. By whatever means. Especially after the downturn this year they will have had. In the end, we all have a choice and simply don't have to buy.

 

I'm going to pay more close attention on the things I buy, how I buy it, and when I should buy it. Unless I just have to have it, within a degree of reason. One thing is for sure, I learn everyday about how these companies price gouge. APMEX lists an item with a caption that says"ONLY $19.99 OVER SPOT!!!" For someone like myself who's just starting to buy PMs, that could be the thing they wanted to hear.

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4 minutes ago, 999magnum said:

I wonder if it will work. We will find out soon enough. January is just around the corner. As for the price I remember reading the 2016 Chiwoos being reasonable then all of a sudden doubling in price overnight. I don't think this design is as intricate and beautiful as the Chiwoos, but my interest in it is purely curiosity as to exactly what you've said. 

I'm certain it won't take off like the first chiwoo did, but that's ok not everything needs to. As long as they commit to doing good designs and launch cost of each one keeps to a reasonable margin over spot. I like this is the start of a coherent series of 12, and not lunar for a change. Might pick it up myself!

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For everyones information.....

I thought that 1 Clay was a monetary value.

However upon doing more research  I discovered on the JM Bullion website that

Quote

You may have noticed in the description that the Chiwoo Cheonwang is referred to as 1 Troy oz, but also 1 Clay. KOMSCO introduced the use of Clay for the first time with this series. The use of 1 Clay refers to a concept of measurement meant to relate a certain amount of land. The mint describes it as “soil, earth, dirt, ground, or land.” The Chiwoo Cheonwang medals have no legal tender denomination attached, but the 1 Clay relates a value of 1 Troy oz of silver to a certain amount of land instead.

Anyway I have ordered two of them from Apmex at NZ$32 each. They are due to arrive in January sometime.

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Yea definitely getting a few of these as I might collect the series. I hope I don't get in way over my head collecting a bunch of different series and buying miscellaneous silver in between. I'm thinking of starting the Rwanda lunar series and the Santa Maria. I've picked up a bunch of kooks and pandas, and decided I'll buy them from now on. I'm caught up on the QBs and will keep on with that series. I've picked up lots of "not too old" mexican silver coins and suddenly I'm collecting them it seems. This is in addition to collecting wheat pennies, indian head pennies, the ATG quarters, and the occasional buffalo nickel. Odd how these things happened within such a short period of time...

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I just watched a video on youtub and I gotta say I'm not so crazy about this design. It's very simplistic with very simple contrast. A very generic bullion round look to it. The obverse is the same as the Chiwoo design and it's very nice don't get me wrong, except that I don't know why they kept the same  design. I mean, is this series related to Chiwoo? If not, why did KOMSCO keep Chiwoo's shield design on a new coin?  Is this KOMSCO's new Queeny? I have questions, but I'm afraid that my interest level on this coin(forgive me orion :P) has fallen to 0. I picked up only 1 because it's a series, and I'd like to start a series from it's beginning for once with hopes that the design will be thought out a little more for future years.

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looked at an 'untubing' myself, must admit i do still like the overall look. The mottled frosting and incused lettering i really like. Reminded me of the 2012 UK olympics 5oz effect in that way.

But yeah, i have backed away from it too! It's really not an attractive come-get-me price over here, for a finish. Approx €10 over spot ($12). Too high a margin. That is in the region of the Rwandan wildlife/lunar which have a much better pedigree. (Although i think that margin is too much for those, too, as unlimited and undeclared mintages. But that's a whole other gripe/other thread! :))

Like you, i am still tempted just to get the single one of the ZI:SIN for personal collection, though, and probably will.

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