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silversky

NK gold coins

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Anyone interested in buying one of these??  Interesting because I'm not quite sure who would even be able to buy one.  I don't think they can be exported to any coin collectors that might be interested and I also don't imagine there is a huge domestic market.  Probably end up being a rare antiquity one day for anyone that can get one.

http://www.bbc.co.uk/news/blogs-news-from-elsewhere-42479956

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2 minutes ago, oliversw5 said:

I actually have a contact who sells NK coins, I opted to buy about 100 brass and aluminium coins and I was surprised by the quality. Sad thing is I don't really have the platform to sell them as they are not PMs.

Would be interested to see some pictures. Might be interested in some just as something different depending in price

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Ill give a little more detail. 

The brass have a mintage of 3000 and the aluminium a mintage of 5000. All coins come from the NK mint and are stamped with the denomination in WON (I believe the side with the stamp is the royal palace). 

I bought all of these coins raw as a longer term investment (as many of you know I sell silver and gold). I bought the slabs and the labels were made for me to print out. If you are looking for a coin that is low on premium these are not for you, however they do have investment potential as much as they are marmite.

The coins that I personally feel will do well are the eagle and vulture and also he big dragon, I was told the latter they had issues sourcing the base metal and thus the mintage was far lower.

Edited by oliversw5

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2 minutes ago, PansPurse said:

Oh goodness, some of these are gorgeous (even if some others seem confused on the difference between horse and cow)

I was pleasantly surprised at some of these coins. I bought them simply because they were from NK. Some of the coins are very nice, Ill leave the politics for other people.

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I like most of those,interesting thread.........get yourself a big lead lined safe and try and get hold of some of the irradiated ones when they become available and I bet they will have a hell of a return on investment as scarcity value should be excellent with most of the mintage being vaporised................

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7 hours ago, oliversw5 said:

I actually have a contact who sells NK coins, I opted to buy about 100 brass and aluminium coins and I was surprised by the quality. Sad thing is I don't really have the platform to sell them as they are not PMs.

@oliversw5 The important question is.  Can your contact get any of the gold or silver coins?  I'm rather interested in getting something a bit different and although it would obviously be a very limited market I think they would be very interesting to have in a collection.

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Just now, silversky said:

@oliversw5 The important question is.  Can your contact get any of the gold or silver coins?  I'm rather interested in getting something a bit different and although it would obviously be a very limited market I think they would be very interesting to have in a collection.

Yes, but in my humble opinion I wouldnt bother, the numbers he quoted me were ridiculous. I believe the silver has 300 and the gold 30 mintage.

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1 minute ago, oliversw5 said:

Yes, but in my humble opinion I wouldnt bother, the numbers he quoted me were ridiculous. I believe the silver has 300 and the gold 30 mintage.

Sounds like they might be very pricey in that case.  Still if they weren't too over the top crazy I might be interested.  I do wonder how they are exported though?  It was my understanding that most things were being sanctioned but perhaps not coins of numismatic interest.

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1 minute ago, silversky said:

Sounds like they might be very pricey in that case.  Still if they weren't too over the top crazy I might be interested.  I do wonder how they are exported though?  It was my understanding that most things were being sanctioned but perhaps not coins of numismatic interest.

I think they were illegally sourced, my contact is in that part of asia. He offered me the eagle and vulture in silver and the price was like nope. When buying I always weight the risks with the reward and the downside looked very ugly at the price he wanted (even before shipping)

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I guess the other issue is that their large neighbour has a bit of a history of forging pm's and so knowing if you are getting something genuine or not would be difficult.  If the price was massive then the risk would outweigh the potential.

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1 minute ago, oliversw5 said:

Word of warning, you can't sell these coins on eBay as they are a restricted item...as I found out.

Interesting.  I didn't realise that trading in a piece of numismatic artwork that had originated in a sanctioned country would itself be a sanctioned item outside that country.  I guess it sort of makes sense but also not really.  Funny really when it's perfectly acceptable for the bbc to discuss the presence of collectors coins.  The other question of course is whether the government have currency controls that make it illegal to remove the coins from the country?  I'm pretty sure I've heard of some countries have had that at certain times throughout history so I guess it could be the case that they are not for sale to the outside world.

Either way, when the whole mess is resolved(hopefully peacefully) and the sanctions come to an end then there will no doubt be an interest in such collectors pieces.

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