Somalia Elephant Silver And Gold Coins Anyone?

Sorry there Bekiz been extremely busy work wise, haven't even been able to enjoy any coins for the week or weekend for that matter!

I can say I picked up some 2007 elephants that ran at 85ish. 2006, tho I have seen them sell for less than that, between 10-25 dollars per coin less even tho its a year older.

My strategy has been to hunt them down on auctions, and shoot for roughly between 30-40% less from what dealers want. I been trying to get an average from what dealers want per year then follow different auctions from different sites which is very time consuming.

BUT, actions, while they may have wild spreads themselves, are the best way to get a close price to going market prices.I think tho, this is subjective in its self. Some factors I feel impact prices are- time of the year, how popular was this particular year that's up for auction, and there's no doubt I can see sentiment in prices of gold and silver impacting prices.

Finally, since the niche for these elephants coins is small, pricing points makes them not that liquid,, and yet despite this they are highly desired. Its all very interesting!

So I say, use the dealer prices as the benchmark since they have their mark ups, then look to bid on auctions 30-40% less than the dealer average.

I am building a database and tracking prices so its still early.

@Meagan

Congrats on getting some silver Somalia elephant coins. I am sure you will be hooked going forward with these coins. They are unique and feature a very beautiful animal.

Just wanted to share very quickly-

APMEX has in stock 1 oz gold Somalia elephants, 2013 issue,which are very rare and they have come down in price, big time.

WHILE these coins are NOT proof, they do carry a nice premium to them and I feel these are the type coins you should be stalking for price entries and buying as silver and gold prices drop.

I am seeing also on ebay several older data Somalia elephants up for auction, which in my opinion are the way you can get the closet to actual going market prices.

Finally, APMEX has reduced the price of the 2013 colored and gilded somalia elephant coins, tho by not much, but nonetheless, these coins are very beautiful even in color and gilded.

Hope this helps my fellow somalia elephant collectors

Welcome to the somalia elephant coin unofficial club haha!

Yes I agree with you, they are so exciting to collect. I enjoy the chase of looking for deals on ebay or other dealers wanting to dump them. You really did well on your purchase, good job on the price, hopefully the lower prices in PMs will help with your collection going forward Stud, there's many back dated years with different designs and also they are available in colored versions, gilded, and there's even a line of gold elephant coins.

even 2011 command high premium, so research the market before bidding
I have lots of doubts coin shops gonna have them in stock, so ebay or european dealers are the best bet

P.S. I've listed 2009 elephant on ebay so you may take a look ...

Just wanted to bring this thread up to speed with new products I have seen pop up.

Already on ebay, there are new items and I;ll mention again some items mentioned before.

1- 2014 1 oz silver somalia elephants are out NOW, the coin looks BEAUTIFUL.

2- I see Modern Coinmart is now carrying both ungraded sets and individual and graded 2013 sets. These sets are proof coins.

3- There are now images of the high relief proof 2013 somalia silver coin and it looks BEAUTIFUL.

Hey what are you guys waiting for, go and get some elephants for 2014!!

I have a family of elephant's in the house, and they don't take up as much space as one may think or stink....