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 Replies: 42 / Views: 12,142 |
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Pillar of the Community
Canada
815 Posts |
Quite a weak "redesign" for what is essentially an overpriced art round. You will never be able to cash these in, and you wouldn't invest in Somali shillings anyway.
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Valued Member
United States
274 Posts |
Quote:
You will never be able to cash these in, and you wouldn't invest in Somali shillings anyway. Does anyone really expect to cash in bullion for their face value, no matter where it's from? (Like spending an ASE for $1.) I think the elephant and all bullion coins may be just glorified art rounds, in a way, but they are still nice looking and the market for them supports the premium. |
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Pillar of the Community
Canada
815 Posts |
The premium you pay on silver is directly linked to the security of the government backing. Look at the rounds that sell for a premium, Eagles, Maples, and Britannias, all having high face value backing, relatively speaking.
So it has less to do with the actual face value, but the perception of value that this creates.
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Pillar of the Community
 Canada
814 Posts |
I have no problem selling elephants that are 2 years old for a large premium compared to what I bought them for.....sure the premium is a little high compared to ASE and Maples.......but the demand in way stronger for the elephants.....plus ASE and SML are boring..... |
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Pillar of the Community
Japan
666 Posts |
Watch closely next home run which is going to be monkeys. Monkeys are highly regarded I Asia, so the coins have a potential too.
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Pillar of the Community
Canada
814 Posts |
^^^^ monkey coins sound cool. I would buy some.....
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Pillar of the Community
Canada
815 Posts |
Solidifier, that is due to the historically small mintages. That trend will subside now that they are mass produced.
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Pillar of the Community
Canada
814 Posts |
Im curious to what the 2014 mintage will be. 2013 only had a mintage of 130,000.....that's relatively low compared to ASE and SML.....with their mintages being in the millions ( ASE 40 million!!)(sml 12 million).....can buy a elephant for 25 and a SML for 23.......not a huge premium IMO.....I just really like the elephants and love how they change the design every year (even though this year is similar....but not the same). Glad I got a bunch of the earlier dates when they were cheap because the popularity of the newer ones will only make the older ones have more of a demand Edited by Solidifier
09/19/2014 12:30 pm
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Pillar of the Community
Canada
814 Posts |
Got my 2015 elephants yesterday. Nice looking coin.
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New Member
United States
33 Posts |
Hi, new to forum but big Somali Elephant in silver. Wanted mention (2) things for the 2015 collector: 1.) There is a special 'privy seal' strike for 2015, which has a Ram seal on the reverse side, high on the right. This strike is limited to 3K BU coins, so it is rare compared to the regular 2015. 2.) Bavarian Mint messed up and used the gold coin die to strike a small number of silver 1oz coins. They then tried to cover up their error by restamping it with the silver die. Horrible result. It appears they stamped/restamped 1500 coins this way (see attached photo). The mint then destroyed 1000 of the 1500 coins, but 500 were put on the market. GovMint.com appears to have the entire mis-strike lot and is selling these. A 2015 MS69 misstrike is about $1000; BU about $200. It doesn't appeal to me, but thought the Somali Clan (sorry, poor choice of worlds) should be made aware.  |
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New Member
United States
33 Posts |
Having seen all the coins, I'd have to say the 2015 probably has the best elephant reverse design. It is the coin that I find myself looking at the most often.
I've got a complete set of the BU Somali Elephant BU series of coins going back to 2004 (just silver, no 'painted'). So I've seen them all. And that includes the 2012-2015 'Privy Seal' specials (same design as that years coin, but with the addition of a lunar year small'privy seal' addition to the reverse of the animal of that year: Dragon, Snake, Horse, and Ram).
2016 Reverse isn't as impressive and somehow my expecting a limited mint of the 2016 with 'Monkey' privy doesn't exactly rock my boat.
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Valued Member
United States
455 Posts |
Ok, I just purchased one of these on ebay,the 2015, for my daughter, she has a collection of elephants since childhood, so thought she might like a silver one. Question? what diameter is tis coin? I would like to get a bezel for it so she could carry on her key chain if she wanted. It will be a gift to admire, not to grow in value. Seller is from Arkansas, hope he is a CC member. Webekin |
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New Member
United States
33 Posts |
Webekin,
The Somali Elephant 1oz silver coin is 39mm in diameter. The recent mintages are quite shiny, sometimes almost looking proof-like, so cover them up!
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Valued Member
United States
455 Posts |
Maybe I should just get a clear cover forit. Webekin
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New Member
United States
33 Posts |
Webekin
I'd recommend a capsule, since it is only a bullion coin. Cheaper, takes up less space, and you can see all sides of the coins. Just make sure the capsule is the kind where the two pieces fit tightly together. Some capsules on the market can easily separate and then you've got a lost piece or something that mars the coin. This tight fit is especially important if it is something you are going to keep around and handle. Me? All mine are in my safe deposit box.
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Replies: 42 / Views: 12,142 |
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Posted 09/18/2014 9:28 pm
