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South Korean Silver Bullion???


MerlinAurelius

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What is the aftermarket like? 

There are pretty rounds but not all of them produce pretty profits or any profit for that matter.
i was watching a video on youtube where the uploader was talking about an APMEX round he had got. He was saying how he could not recover any premium selling them. Some rounds do well whilst others are just silver. I expect if they are going to do better it will be in South Korea and SE Asia.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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17 minutes ago, Jonson said:

Looks great???????

Thanks for the feedback:)

16 minutes ago, sixgun said:

What is the aftermarket like? 
i was watching a video on youtube where the uploader was talking about an APMEX round he had got. He was saying how he could not recover any premium selling them. Some rounds do well whilst others are just silver. I expect if they are going to do better it will be in South Korea and SE Asia.

I don't think there is much an aftermarket for them.  I don't think they are available outside of South Korea.  I guess because they are so little known they would not get much of a premium.  I will check more into the aftermarket in SE Asia and update later.  

I'm finding there are some interesting bullion coins and bars here in South Korea.  For example, insurance companies issue bars and there are some really beautiful coins only struck on one side.  I will post more to see what people say because I am just a beginner.  

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Hi @MerlinAurelius I'm also living in South Korea. From what I've seen the bars and coins here look really nice but I've found the premiums to be quite high so haven't bought any. I buy mostly British, Canadian and Australian bullion and I use Perth Bullion, their prices are good and so far I haven't been charged import duty on any deliveries.

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1 minute ago, MerlinAurelius said:

I don't think there is much an aftermarket for them.  I don't think they are available outside of South Korea.  I guess because they are so little known they would not get much of a premium.  I will check more into the aftermarket in SE Asia South Korea and update later.  
 

 

Well it depends on how much over spot these rounds and bars go for. If there is a decent chance of your purchases holding their premium then you are in the right place to buy them. Your downside is limited to the spot price of silver. Then there is always the chance they will appreciate in the collector base in SE Asia and they may catch on elsewhere. It is a risk but if your downside is limited then i think it is a risk worth taking. They also look like nice rounds

See if there will be a series of these. Series attract collectors. 

See what the milk spot incidence in these rounds is like. Milk spot destroys the appearance of a coin/round and bang goes a lot of the collector value. 

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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40 minutes ago, GoldenAtlantis said:

Hi @MerlinAurelius I'm also living in South Korea. From what I've seen the bars and coins here look really nice but I've found the premiums to be quite high so haven't bought any. I buy mostly British, Canadian and Australian bullion and I use Perth Bullion, their prices are good and so far I haven't been charged import duty on any deliveries.

Hi @GoldenAtlantis thanks for the response.  I'm down in Busan.  I'm guessing you are in Seoul.  I'm looking for some low premium bullion also.  Perth Bullion looks great.  I will try them out.  I just got some raw gold sent from Alaska and I hope I don't get hit with any import duties.  

What currency do you buy with?  Korean Won? 

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50 minutes ago, sixgun said:

Well it depends on how much over spot these rounds and bars go for. If there is a decent chance of your purchases holding their premium then you are in the right place to buy them. Your downside is limited to the spot price of silver. Then there is always the chance they will appreciate in the collector base in SE Asia and they may catch on elsewhere. It is a risk but if your downside is limited then i think it is a risk worth taking. They also look like nice rounds

See if there will be a series of these. Series attract collectors. 

See what the milk spot incidence in these rounds is like. Milk spot destroys the appearance of a coin/round and bang goes a lot of the collector value. 

Just what I needed to hear.  I really want to pick some up and check them out.  Can coins that no one has heard of like these get graded???
There are probably a lot of random bullion coins on Ebay that don't sell but maybe I'll put some up there and see if I can erase the premium from one or two of them with any profits.  There is another type of 1 oz round I also like but I don't think it's as attractive.   I'll put up pics later

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Hi, I'm near to Busan myself. On Perth Bullion I pay through PayPal, the total is in Aussie dollars, the only thing is you get charged 2.75% on the PayPal transaction. However, I've never been hit with any import duty. On the shipping selection I've always selected Australia Post Express Courier International (just make sure you avoid selecting Fedex and DHL).

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6 minutes ago, MerlinAurelius said:

Can coins that no one has heard of like these get graded???
There are probably a lot of random bullion coins on Ebay that don't sell but maybe I'll put some up there and see if I can erase the premium from one or two of them with any profits.  There is another type of 1 oz round I also like but I don't think it's as attractive.   I'll put up pics later

 
 
 

Numistacker is the expert when it comes to grading. Grading is based on the state of the round or coin. That people on this site are unfamiliar with a coin does not alter the state of a coin or round. You could always drop the grading companies a line asking. Grading costs, so you need to research whether others have graded them and what the market is for graded rounds. I mean has anyone ever graded Buffalo rounds? I doubt that and if you did grade these rounds you would be wasting your money.

If there is a Korean collector market there will be venues where collectors discuss coins and rounds as well as selling them. Try to find out what they are.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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11 hours ago, GoldenAtlantis said:

Hi, I'm near to Busan myself. On Perth Bullion I pay through PayPal, the total is in Aussie dollars, the only thing is you get charged 2.75% on the PayPal transaction. However, I've never been hit with any import duty. On the shipping selection I've always selected Australia Post Express Courier International (just make sure you avoid selecting Fedex and DHL).

Wow, what a coincidence!  Would be nice to meet up.  Great info about the shipping.  I also do metal detecting and have a gold sluice coming to Korea soon.  You can check out my Youtube channel.  Teaching English in South Korea.  Nothing special but you can see a couple of my detecting videos.  Maybe I should start posting about coins and bullion, too.  Super nice to meet you here.  Hope we can share more info on the site^^

11 hours ago, sixgun said:

Numistacker is the expert when it comes to grading. Grading is based on the state of the round or coin. That people on this site are unfamiliar with a coin does not alter the state of a coin or round. You could always drop the grading companies a line asking. Grading costs, so you need to research whether others have graded them and what the market is for graded rounds. I mean has anyone ever graded Buffalo rounds? I doubt that and if you did grade these rounds you would be wasting your money.

If there is a Korean collector market there will be venues where collectors discuss coins and rounds as well as selling them. Try to find out what they are.

Yea, grading might be a lost cause.  There is not much of a collector market here.  But I will look into it further.  I guess rounds don't usually get graded, right?  Thanks for all of your help.  I really appreciate it.

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5 hours ago, MerlinAurelius said:

Yea, grading might be a lost cause.  There is not much of a collector market here.  But I will look into it further.  I guess rounds don't usually get graded, right?  Thanks for all of your help.  I really appreciate it.

 

All things being equal i think grading would not be cost effective. You need to at least see your grading costs returned in an increased selling price for a round. You would have to reaearch the market but at a guess i suspect you would be onto a loser.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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1 hour ago, sixgun said:

All things being equal i think grading would not be cost effective. You need to at least see your grading costs returned in an increased selling price for a round. You would have to reaearch the market but at a guess i suspect you would be onto a loser.

Not only that if you got less than a MS/PF 70 for a relatively unknown coin/ round with very little collector following, the coin would in general make less than the raw coin if you needed to sell.

I have seen some cracking bargains on ebay for silver MS/ PF 69 coins(at auction) which have made well less than the raw equivalent, grading is a mine field you have to choose very carefully what you grade or buy graded or you will build an instant loss into your collection.

I'm only talking about modern silver coins as I have no real knowledge re modern or older gold coins.

The problem with common sense is, its not that common.

 

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53 minutes ago, motorbikez said:

Not only that if you got less than a MS/PF 70 for a relatively unknown coin/ round with very little collector following, the coin would in general make less than the raw coin if you needed to sell.

I have seen some cracking bargains on ebay for silver MS/ PF 69 coins(at auction) which have made well less than the raw equivalent, grading is a mine field you have to choose very carefully what you grade or buy graded or you will build an instant loss into your collection.

I'm only talking about modern silver coins as I have no real knowledge re modern or older gold coins.

Thanks for your input, I appreciate all the info I can get.

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