Upcoming "Lucky coin" by Royal Korea Mint. Silver coin with chance to win 5oz gold coin with mintage of 1

[Melon]

Just now, swAgger said:

it's not quite as straightforward as that really. Or fair to say the mint are purely running a gimmick to make a massive profit on the added 125,000 euro. As you say, without the lucky dip element a bog standard looking bullion coin like this could carry a cost of 20 euro, even that being on the generous side. The extra 5 euro you calculate at 125,000 euro premium for the lottery element (minus the 5oz gold cost) is not an added profit margin for the mint to fund the lucky dip element. It's the dealers are marking them up and taking that added premium. The mint are supplying at a flat rate with a smaller premium. Aurinum for instance can offer discounted bulk buys all the way up to 100 coins, bringing their own price down from 25 euro for a single coin to under 22 euro per coin for bulk buys. And Aurinum are still making a profit at that 22.

Yup, but same logic applies to the (being generous) 20 euro cost of a standard coin. That also gets discounted for bulk buys and also includes dealer premium built into the price. So like-for-like, we're up circa 5 euro a coin for the lucky dip element. That money has to be going somewhere. 

Or of course my simplistic calcs could be complete nonsense. Who knows! 🤷‍♂️🤣

[verrachi]

LPM started selling these today, anyone going to gamble on this at this price? 😎
https://www.lpm.hk/2020-1oz-niue-lucky-coin-999-sliver-coin.html

[999magnum]

What or who exactly is the "Royal Korean Mint"?

[Melon]

1 hour ago, 999magnum said:

What or who exactly is the "Royal Korean Mint"?

It's a mint in Korea with royal connections. 

[kimchi]

24 minutes ago, Melon said:

It's a mint in Korea with royal connections. 

Not Prince Andrew I hope!

[Branman1986]

I unfortunately think because of the incredibly lackluster design, these will probably be worth around generic after the drawing comes out... Right?

[swAgger]

3 hours ago, Branman1986 said:

I unfortunately think because of the incredibly lackluster design, these will probably be worth around generic after the drawing comes out... Right?

Absolutely. "incredibly lackluster" is being generous, even.

[Melon]

On 04/01/2020 at 11:12, Branman1986 said:

I unfortunately think because of the incredibly lackluster design, these will probably be worth around generic after the drawing comes out... Right?

The fact they literally got the English wrong on the coin (what is "always winner" supposed to be?!) means this one would need to be spot or less for me. Couple that with the extreme margin they appear to be making on the gold draw element and I really don't think this is a compelling offer personally. 

[jonrms]

I have bought a few, and worst case being I don't win. I will melt them 😂😂😂

[denniskorean]

On 17/12/2019 at 00:31, mr-dead said:

Doesnt seem available just yet but out shortly:

https://agaunews.com/how-lucky-do-you-feel-25k-mintage-1oz-silver-coin-offers-the-chance-at-a-one-off-5oz-gold-version/

each coin is basically a ticket to win a 5oz gold coin, may be worth a punt if the premium on the silver coin isnt too steep.

 

 

The COA (Certificate of Authenticity) will be the ticket to win the prize.

Each COA will be numbered from 1 to 25,000. 

[denniskorean]

 

On 05/01/2020 at 22:33, Melon said:

The fact they literally got the English wrong on the coin (what is "always winner" supposed to be?!) means this one would need to be spot or less for me. Couple that with the extreme margin they appear to be making on the gold draw element and I really don't think this is a compelling offer personally. 

"Always Winner" means Always Winner. The Lucky Coin will not only be an investment, but also will be a lucky charm. The live draw will take place on YouTube. Make sure to hold on to your COA. 

[Melon]

5 hours ago, denniskorean said:

 

"Always Winner" means Always Winner. The Lucky Coin will not only be an investment, but also will be a lucky charm. The live draw will take place on YouTube. Make sure to hold on to your COA. 

It’s bad English. ‘Always a winner’ or ‘always winning’ would make sense, ‘always winner’ sounds wrong. 

[denniskorean]

19 minutes ago, Melon said:

It’s bad English. ‘Always a winner’ or ‘always winning’ would make sense, ‘always winner’ sounds wrong. 

'Always a Winner' or 'Always Winning' are 13 letter phrases. The theme of the coin is luck. It is like a charm that will guide the buyer to luck.

This is just one of the reasons why 'Always Winner' is more fit as it is a 12 letter phrase.

[kimchi]

2 hours ago, Melon said:

It’s bad English. ‘Always a winner’ or ‘always winning’ would make sense, ‘always winner’ sounds wrong.

That adds to its (slight) charm for me! I have a very soft spot for Asian English after my time in Japan.

At Osaka's main post office I always enjoyed visiting the 'Erectronic Mail' desk

 

 

[Melon]

2 hours ago, denniskorean said:

'Always a Winner' or 'Always Winning' are 13 letter phrases. The theme of the coin is luck. It is like a charm that will guide the buyer to luck.

This is just one of the reasons why 'Always Winner' is more fit as it is a 12 letter phrase.

Oh lord, we’re really stretching at this point. I think it’s even worse if they used bad English on purpose. But let’s be honest, they didn’t do this on purpose. 

You know what else is a 13 character phrase? 999 Fine Silver

[kimchi]

1 hour ago, Melon said:

Oh lord, we’re really stretching at this point. I think it’s even worse if they used bad English on purpose. But let’s be honest, they didn’t do this on purpose. 

You know what else is a 13 character phrase? 999 Fine Silver

You might be surprised, this actually sounds very likely to me! A Japanese friend worked naming apartment blocks in 'Japanese' English or mixes of other languages. It's seen as very important to have a good/auspicious name, but very few of them made any sense whatsoever as actual names for buildings in English. I first lived in Rex Mansion which did sound quite cool, then I moved to Parazinna which isn't even the proper spelling in Italian, it matters not! For the general Asian market I would 'Always Winner' is entirely acceptable given the explanation!

[Melon]

7 hours ago, kimchi said:

You might be surprised, this actually sounds very likely to me! A Japanese friend worked naming apartment blocks in 'Japanese' English or mixes of other languages. It's seen as very important to have a good/auspicious name, but very few of them made any sense whatsoever as actual names for buildings in English. I first lived in Rex Mansion which did sound quite cool, then I moved to Parazinna which isn't even the proper spelling in Italian, it matters not! For the general Asian market I would 'Always Winner' is entirely acceptable given the explanation!

Interesting. Ah well, I can only speak for me, I think they should have tried a bit harder 🤣

[kimchi]

21 minutes ago, Melon said:

Interesting. Ah well, I can only speak for me, I think they should have tried a bit harder 🤣

Well I lived in the very comfy and seemingly exotic and aspirant 'Parazinna' building for a few years without even knowing what it meant, just to now find out it not only just means 'building' it is also spelled wrong 🤣

Hang on, I will see if I can get a snap of one of my old (last decade) photo album slogans, they are classic! 🤣 But, we just gotta understand it's not necessarily Asians trying (or maybe even bothering) to be perfect in English - it's as much if not more (often) as them wanting to convey feeling or luck or whatever in English seen through their completely different prism of culture/perception/strong rice liqour

[Melon]

1 hour ago, kimchi said:

Well I lived in the very comfy and seemingly exotic and aspirant 'Parazinna' building for a few years without even knowing what it meant, just to now find out it not only just means 'building' it is also spelled wrong 🤣

Hang on, I will see if I can get a snap of one of my old (last decade) photo album slogans, they are classic! 🤣 But, we just gotta understand it's not necessarily Asians trying (or maybe even bothering) to be perfect in English - it's as much if not more (often) as them wanting to convey feeling or luck or whatever in English seen through their completely different prism of culture/perception/strong rice liqour

Doesn’t change that it looks awful saying Always Winner on it. If someone in Asia likes it good for them, but not for me! 

[richatthecroft]

1 hour ago, Melon said:

Doesn’t change that it looks awful saying Always Winner on it. If someone in Asia likes it good for them, but not for me! 

Agreed.  The most satisfying thing for any winner of the 5oz Gold would be cashing it in for melting. 

[Pipers]

No chance, the luck of both the winning silver coin and the Gold 5oz coin combined will mean both will bring 'good fortune' to the buyer who buys the coins at a high premium from the lottery winner.  As they say 'Always winner' 

 

[CadmiumGreen]

19 minutes ago, richatthecroft said:

Agreed.  The most satisfying thing for any winner of the 5oz Gold would be cashing it in for melting. 

If won, the Five ouncer would go straight to @BackyardBullion for a Mega-Gold poured bar! I know, BYB probably won’t touch gold again at risk of contaminating his awesome silver pours and quality assay. But we might be able to still make it worth his while. 😁

Always Winner!!😄

[kimchi]

17 hours ago, Melon said:

Doesn’t change that it looks awful saying Always Winner on it. If someone in Asia likes it good for them, but not for me! 

Hmm, I am beginning to get the impression that you perhaps aren't particularly keen on this?

Personally I reckon 'Always Winner' is pretty much all it has going for it, apart from the better odds (but still ridiculously long) of winning that amount compared to the UK lottery (which, reading back, is what I meant to say earlier)! 🤣

The English-speaking market is to my mind almost 100% certainly not the target for this. It's probably meant and designed with only Koreans in mind and to that end there's no problem at all with it, if overseas folk are attracted (or not) then it's up to them. It's also not a one-way street here and I'd argue that the likes of Wagamama's and Yo! Sushi here are far more of an affront, and in the face of millions more people, to Japan/Asia than this is to the English language!

[Melon]

43 minutes ago, kimchi said:

Hmm, I am beginning to get the impression that you perhaps aren't particularly keen on this?

Personally I reckon 'Always Winner' is pretty much all it has going for it, apart from the better odds (but still ridiculously long) of winning that amount compared to the UK lottery (which, reading back, is what I meant to say earlier)! 🤣

The English-speaking market is to my mind almost 100% certainly not the target for this. It's probably meant and designed with only Koreans in mind and to that end there's no problem at all with it, if overseas folk are attracted (or not) then it's up to them. It's also not a one-way street here and I'd argue that the likes of Wagamama's and Yo! Sushi here are far more of an affront, and in the face of millions more people, to Japan/Asia than this is to the English language!

I don’t think it is better than the UK lottery at all. Better for an individual chance of winning sure because far less participants, but looking at the payment in versus the prize money out, the rate of return here is much worse. I did the math (roughly) earlier in the thread, they’re making a huge profit on the 5oz gold coin. UK lottery pays out half the take on prizes I thought. 

You’re right, I’m not keen 😂 seems a deceptive way for a relatively unknown mint to sell a shoddy coin to me. That said, if people are buying for fun then it’s all good, so long as nobody is tricked into thinking they are getting a good deal! 

[Melon]

17 hours ago, richatthecroft said:

Agreed.  The most satisfying thing for any winner of the 5oz Gold would be cashing it in for melting. 

Have it melted and poured into a bar stamped with “Always Winning” 🤣