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999magnum

2017 South Korea ZI:SIN Gallus 1 Oz Silver Bullion

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14 hours ago, swAgger said:

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.

$12 over spot?! Is that what you deal with on a normal basis or is it this particular coin? That's just too much...

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49 minutes ago, 999magnum said:

$12 over spot?! Is that what you deal with on a normal basis or is it this particular coin? That's just too much...

No that wouldn't be the normal here in Europe, that's why on this particular one the ZI:SIN is now scratched off my list (as far as buying multiples). At the current rates, the normal premium range over spot this side of the great pond - taking averages say, a kookaburra would be 6 dollars. And the kook could be classed pretty much a mid range item. So other stuff would be a couple dollars lower or higher than that. Not many fresh-out-of-the-mint bullion coins ask a 12 dollar premium range. For me, i don't think it's a good value launch point for the ZI:SIN rounds, even with the 33k mintage.

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3 hours ago, swAgger said:

No that wouldn't be the normal here in Europe, that's why on this particular one the ZI:SIN is now scratched off my list (as far as buying multiples). At the current rates, the normal premium range over spot this side of the great pond - taking averages say, a kookaburra would be 6 dollars. And the kook could be classed pretty much a mid range item. So other stuff would be a couple dollars lower or higher than that. Not many fresh-out-of-the-mint bullion coins ask a 12 dollar premium range. For me, i don't think it's a good value launch point for the ZI:SIN rounds, even with the 33k mintage.

Those guys are banking on it. Riding on the success of the 2016 Chiwoo, but it's a completely different type of coin and to make matters so much more disinteresting, I can't find any information on Zi: Sin, or Gallus.

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4 minutes ago, Gedmunds said:

So have Komsco finished with the Chiwoo designs then? Seems strange for them to move on after the success of the 2016. Personally I really like the 2017 too. 

I like them both myself. I hope they keep up with the series.

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1 hour ago, fehk2001 said:

these are Korean lunar so we will expect continuous 12 coins in a series , good punt cos later people will back dates them , with only 33k I think these will do well mid term 

Yes very possible

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2 hours ago, Bullionbilly said:

I think these are gorgeous ! Watched a few videos on you tube lately and they look even better on video/in hand.

Ill definately try and get hold if some

I'll know soon enough. Sometimes I need to hold the coin in my hand to appreciate it.

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6 hours ago, fehk2001 said:

Interesting to see if they are going to be another chiwoo 2016 or 2017 :D hopefully earn some fries money 

But the question still remains. Is the Chiwoo series finished? 

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12 minutes ago, fehk2001 said:

The answer is : do u think they are earning money ? Then u will get the answer ;)

I don't know this business, and I don't pretend to know how to sway or motivate sales. All I can say is I buy what I like. Not one piece I own is purchased from an opinion or a forecast. The fact that I couldn't buy a 2016 Chiwoo for a decent price maddens me, but I won't cave in and buy an ounce of bullion silver for $99. It'd be different if I thought it was worth that price to me, but even with my desire to own one I would never pay that money. It's an obnoxious price for an ounce of new silver. So are they still making money? I see they are still up on ebay, but I can't tell how much they are doing or what the supply is. One thing is for sure though, in a situation such as this, when the price starts to drop it's a tell tale sign the gravy train ride is coming to an end.

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1 hour ago, 999magnum said:

I don't know this business, and I don't pretend to know how to sway or motivate sales. All I can say is I buy what I like. Not one piece I own is purchased from an opinion or a forecast. The fact that I couldn't buy a 2016 Chiwoo for a decent price maddens me, but I won't cave in and buy an ounce of bullion silver for $99. It'd be different if I thought it was worth that price to me, but even with my desire to own one I would never pay that money. It's an obnoxious price for an ounce of new silver. So are they still making money? I see they are still up on ebay, but I can't tell how much they are doing or what the supply is. One thing is for sure though, in a situation such as this, when the price starts to drop it's a tell tale sign the gravy train ride is coming to an end.

What I mean is if the mint can sell all the coins they issue that means they are making money . If they are making money they will continue with more chiwoo and more mintage will be likely eg chiwoo 3rd coin , you earn money or not in the secondary market is irrelevant , their interest is to sell all the coins they make 

for secondary market I think of there is chiwoo 3/4/5/6/7/8 then the first coin should hold its value but not for 99 dollar (yet ) since you can get the chiwoo proof for similar sort of price 

so yes you will see chiwoo 3/4/5/6  , the series not finish yet 

Edited by fehk2001

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