Aussie Mule Owners

As with anything and everything in life, how much something is worth is dependent on how much someone is willing to pay to obtain it....just my 2 cents worth...

Guest yes that is a confirmed private sale at 13K
Actually looking at your price list you're close with a couple but the rest I would never let the coin go for those prices, I would actually be trying to buy them.

Where's Lim hiding

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This "shepherd" climbs trees and eats nuts......

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I would climb a tree to get my hands on a mule!!!

the prices are constantly changing guest your old ones may of been valid before xmas

Guest, I've never seen mules in fine sold as low as $300 - $420 is about the minimum. Those sold retail by Downies are VF at $995.

I don't think any better than that have been publically sold for close on 12 months.

I have an EF one I found this year. I wouldn't sell it for less than $2000.

sorry but the ebay buyers are not taking grades into account when bidding. F ones are getting as much as VF. Market value and actual value need not be the same and never will be until this coin is catalogued. Now is the time to buy because we can get them for less than they are worth.

SS, with respect to prices, I don't see any difference between actual value and market value...i thought they were the same. How do we know how much something is actually worth ?....by seeing how much people are willing to consistently pay for an item of that type and grade...and isn't that also the market value ?.... Hence I see both the actual and market value as one and the same.
Now once we have price trends based on market values, we can then judge the odd trade which falls outside of this and can confer an opinion as to whether an item has been purchased cheap or expensive.
So in relation to SS' posting, at the moment there are a lot of inexperienced buyers out there who do not know how to grade and hence purchase mules for the sake of owning a mule...they do not take grading into account and so will pay what most mules sell for. As the majority of mules available on the market are in the Fine to VF grades, if an experienced buyer who knows how to grade buys VF mule for $450 on ebay, inexperienced buyers will follow suit on mules that may only be graded Fine. This will eventually turn around and bite them in their butts in the future, when they are more competent at grading...but we all must start somewhere...and u know the saying "knowledge is power".
As for PNCs posting, you can say that mules that sell on the low side price wise during quiet seasons, are in the "one offs" and out of price trend for market value. Hence those astute buyers that have purchased cheaply during these off peak seasons (such as around X'mas) have scored bargains.

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Originally posted by secretsquirrel

sorry but the ebay buyers are not taking grades into account when bidding. F ones are getting as much as VF. Market value and actual value need not be the same and never will be until this coin is catalogued. Now is the time to buy because we can get them for less than they are worth.

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KLD,

I think that SS is of the opinion that the $1 mule is undervalued at the present moment, based on the fact that it is a legitimate RAM error with a guestimate of about 2000-6000 accidentally released into circulation. Now currently, there is exposure and awareness of this coin but this is likely to increase exponentially once it gets placed in the next Macca's Guide; as promised by the author of the price guide.
As to the value of a coin, rarity is only one factor but equally if not more important is popularity. If a coin is popular amongst numismatist; who all wants one, then demand will be driven up and assuming that supply stays the same, this increased demand will put upward pressure on prices. For example, with respect to the Aust 1930 penny, an icon coin which most people dream of owning; the coin itself is not that rare as there are supposedly about 3000 left in existance. However, alot of people want to have one in their collection, and due to the coin's popularity, has driven it up in price (an average Fine grade would set u back at least $25K). Now there are rarer coins, say the 1959 or 1960 Perth Mint Proof penny, of which mintage was only 1030; you can say that they are rarer coins than the 1930 penny, yet it is only worth around $800-900 in FDC. Why ? could it be because it is not as popular as the 1930 penny ? hence lower demand and lower market price/value ?

To answer your 2nd question, yes price is determined by how much an end buyer is willing to pay (as mentioned in my previous postings). Do note that this is influenced by the coin's popularity (and desire/demand to own it) and obviously supply. If the demand is high but there is short supply then price can only go up. Look at alot of Australia's predecimal banknotes for some indication of this effect.

The only thing that can have a negative effect on the $1 mule would be undiscovered lots, but from statistics from those who are actively looking for the mules, it is definitely drying up. If you cap the upper limits of the mules at say 6000 (which most sellers are placing on ebay) and take into account that the market has absorbed and digested this info; by reflection of prices attained on ebay of about $450 for a Fine to VF example, then value can only go up once exposure increases from inclusion of the $1 mule in next years Macca's Price guide.

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Originally posted by KLD

I am starting to find the newly famous mule very interesting.

What makes it undervalued right now?

How can market value and actual value differ?Isn't the value of a coin determined by what someone is prepared to pay for it?

Would it not be true to say that if more and more are found the price will go down? and if no more are found then the price will go up?

Errors[:p][:p][:p]

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