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 Replies: 89 / Views: 12,825 |
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Pillar of the Community
Canada
5324 Posts |
the 5 oz. penny basiclly soldout in 2 days at issue price 495.00. thats 100.00 per oz. directly from RCM, if one only looks at bullion value you would never buy any nclt coins. |
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Pillar of the Community
Canada
3690 Posts |
 but the 5 oz is NCLT, the Goldline silver is not. It's bullion. Goldline is even suggesting that people buy these coins as part of their long term investing (IRA eligible). Compare this peice with the selling prices on completed auctions for other "special" bullion coins on ebay. 2011 Wolf - selling for approx. $60 or 1.9 times spot. Other wildlife SMLs are even less. 2012 SML dragon or titanic privy - selling for approx. $55 or 1.7 times spot 2013 Perth Mint snake 1/2 oz selling for $28 or 1.75 times spot. etc. etc. Goldline coin offered on ebay starting at $52 and that is 2.2 times spot. There are plenty of true NCLT coins that can be had for less than 2.5 times spot. IMO, the bottom line is this coin is overpriced from Goldline and that is compounded by being marked up on ebay. The mintage is unknown. If it is really low (i.e. less than 10k) then maybe the premium could be justified but not if it's >50k. That said, everyone is free to decide what they like and I'm sure these will sell. Just don't consider them as investments. |
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Valued Member
Canada
86 Posts |
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Pillar of the Community
Canada
1581 Posts |
For the last few days, these have been mostly going unsold and unbid at $52.
A conventional 15% over spot premium would mean these are worth around $28. So, either the market is going to lose all its senses on this offering, or the flippers are going to take a bath.
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Pillar of the Community
 Canada
815 Posts |
Well, I doubt that. They are being sold at $38 a piece, so I have no problem paying $50 shipped. I have no problem with someone making a buck. If the markup gets to 50%, i'll just buy a tube and sell all but 3. AKA, i'll be a part of the solution.
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Pillar of the Community
1007 Posts |
I want one so bad, same with the 1.5 ounce polar bear. I'll wait until I see a good price.
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Rest in Peace
Canada
1360 Posts |
at $38 for 3/4 of an ounce, there is already a sizable mark-up of about 25-33% based on current spot prices. After all, these coins are not a 'limited run' of 10,000 or less, they are a bullion coin. I think the market in silver coins is coming around (see Rockdaddy above) A good price is 10-15% over spot - there is no (should be no) 'collector' value on a coin that was mass marketed to capitalize on 'trends'.
This is similar to the 1/2 ounce 'wolf' coin of 2006. Also a bullion coin, not sure of the mintage, but I just can't understand people forking out $50 or $60 for the 1/2 oz, when you can get the full ounce wolf (same design) for under $50 - usually in the $38 to $44 range.
cc-Ottawa said it best above.
This is NOT a good 'buy' imho.
Edited by Dcadon
10/27/2012 4:46 pm
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Valued Member
Canada
178 Posts |
I got a 2006 1/2oz wolf on ebay last month for $31, $33 with shipping. Never seen them go that low. Still a healthy premium over spot though! I'm not sure what I'd pay for this 3/4 oz, let's see where the price stabilizes at. I'd like to get this, but I don't need it. |
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Pillar of the Community
Canada
5324 Posts |
here is another example of the RCM stupid policy, goldline is exclusive dealer for the 1812 1/4 oz. gold coin, RCM has sold out the limited same gold coin earlier this year. this coin looks exactly similar to the one on the RCM website, can you imagine if you bought this gold coin at the RCM now find out goldline is selling it right now, this 1812 coin was limited to 2000 mintage, how is this right? |
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Pillar of the Community
Canada
1581 Posts |
The 2006 1/2 oz Wolf (another odd silver dollar) had a mintage of 106,800.
Small for a bullion offering.
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Pillar of the Community
Canada
1581 Posts |
Quote:
Well, I doubt that. They are being sold at $38 a piece,
Some infamous outfit overcharging for a bullion coin doesn't make them worth what they charge. This is all very odd. What American is going to pay such a premium when they can get an Eagle for a small premium over spot? |
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Pillar of the Community
Canada
3690 Posts |
Quote:
What American is going to pay such a premium when they can get an Eagle for a small premium over spot? Not to mention that most would think 18-12 was the score of last Monday night's football game. It's just not a very significant date in US history so I doubt the theme will have much appeal south of the Canadian border. |
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Pillar of the Community
Canada
1581 Posts |
Not significant to them, despite being the source of their national anthem.
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Pillar of the Community
Canada
5324 Posts |
on oct 15, the goldline rep told me they have sold over 70,000 of this 3/4 oz. and they have a mintage of up to 300,000 my guess is most of this coin was sold to americans there is a 10.00 a coin markup yet they still buy it. their pricing was if you buy 3 tubes or a full box of 20 tubes it was still 38.26 on oct.15
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Pillar of the Community
Canada
1581 Posts |
Canadian GML and SML are popular in the US, partly because there is a theory that the US government could not confiscate a Canadian coin.
This is Goldline. Hannity and Beck are the poster children against the big evil US government. It could be their customers are just as nuts. Paying a $10 a coin extra premium sure would reflect that.
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Replies: 89 / Views: 12,825 |
First Page
Posted 10/24/2012 10:34 am
