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 Replies: 42 / Views: 6,196 |
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Pillar of the Community
United States
1454 Posts |
I've seen some of the most drastic prices spikes in coins I watch, either because I own them or plan on buying at the right price, in the last couple or years; but even more so in just a few short months. Case in point: Back in 2010, I hit the jackpot and paid $75 for a silver 1 oz. Mongolia 2007 500 Torpor- Wolverine Wildlife Protection Gulo Gulo Proof. Two years later, that same coin just sold on ebay for $1400 (link below). The next coin in the series is called the 2011 Mongolia Ural Owl. In Jan, it was selling for around $150-180. At the very end of Feb, $425+! And it's not just those two examples. A lot of the Silver Lunar Year coins from all over the world are rocketing up in value in just a few short months, and if you go back to just 2010 when I bought my last 2000 Silver Australian Lunar Dragon for $28, the same coin easily goes for quadruple the price today. And the premium for even brand new Silver dragons, for example, is easily $60 over spot for UNC. With proof coins, the sky seems to be the limit. I've been watching ebay for a shot at a 2012 China 10 yuan silver dragon and you can't touch this 1 oz. coin for less than $200. Sad but true. I'm just wondering, where's the roof? And what's causing the relatively sudden price fluctuations? I can't begin to guess the answer to the former question, even just extrapolating out five years from now. Will prices for these coins quadulple again? Unlikely, but I never imagined that 2007 Silver Mongolian Wolverine increasing 1800%, either (or I would have bought a couple more). I'm thinking there must have been an influx of new buyers hitting the silver market in the last 2 or 3 years that may have caused the rapid increases. That, or the spot price increase over the same period that began under $15 and hit $45+ in a single calendar change (2010-2011) made the regular buyers go silver crazy. You coin store owners and dealers probably have a better grasp on what's going on to create such high demand lately and where, or at what price, it might level out like it did from 2000-2010. http://www.ebay.com/itm/ws/eBayISAP...p=true&rt=nc |
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Valued Member
344 Posts |
Sometimes (albeit rarely) silver is NOT silver.
I too have gotten a few kick ars deals like you are talking about with some star wars 1 oz coins made in the 80s, and also with some johnson matthey silver as well.
Some times rarity even for bullion can sky rocket prices.
However if you can get 1400 for a coin that in many ways should be 40 I say you sell that sob right away and buy 1400 in regular silver rounds or junk silver. 35 times markup aint bad lol.
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Pillar of the Community
United States
1126 Posts |
One possibility may be with the world wide realization in the last few years that the paper money is in decline the number of people trading their paper money for silver is staggering. This is nothing like the rise in silver in 78 and 80 which was primarily a U.S. incident.
This time around the entire planet including Large Institutions
and Nations along with the general populations are going back to gold and silver. Within that massive group of people getting into silver are people that are also looking for low mintage coins with numismatic value. pushing up the prices.
A coin with a mintage of 1,000,000 amongst a group of collectors of 500,000 is not very rare. Take the same coin with a group of collectors of 4,000,000 planet wide then you have an idea what I am thinking
Just one idea
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Valued Member
United States
404 Posts |
I think it all comes down to a lot of new "collectors" aka investors. A lot of people were making a killing in silver last year, now everyone thinks they can do the same. They don't care about over paying because hey silver is going up up up.
Almost feel like we're seeing the same craziness in this hobby now as with the ipads and such. People will overpay just to have the hottest items. And right now silver is a HOT item.
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Pillar of the Community
United States
2335 Posts |
Any coin is only "worth" melt value or the value placed on it by the issuing authority....UNLESS there is more collector demand than there is supply. It's a well known fact that when demand outstrips supply prices increase. The real question isn't why prices increase, it's whether or not the increase is sustainable. I have my doubts that the modern issues will maintain the dramatic increases.
Edited by trdhrdr007
02/29/2012 3:43 pm
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Pillar of the Community
United States
3670 Posts |
Wow, still a couple hours left for the US markets. and gold now has fell as low as like 1688, and silver back down close to 34 bucks per oz.... Where is the bottom, lol.... Keep on falling, another pullback to 25 per oz., would give me enough time to get back to 100 oz..... I have already added 11 of a possible 27 on 1986-2012 proof eagles, all nice cases an Coa,s and one with amazing rainbow toning in the 1993.... I am gonna complete the set, if someone does not buy them first at a 100 a pop, and that is in no danger of happening anytime soon now thanks to this drop, lol.... I went from 35 back to 27, as I met this great new fellow who buys much per week through ebay, an he wanted my Goldas 250 gram bar to complete his collection of four (1000 grams), but I climbed right back up to 30 oz. getting a 1992-91 proof eagles and a nice 1 oz. proof Libertad in plastic case... Edited by Silverhawk74
02/29/2012 3:54 pm
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Valued Member
Canada
442 Posts |
I'd just like to ask where in North America can you get those cool looking Mongolian coins? They look awesome!
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Valued Member
United States
264 Posts |
Quote:
and a nice 1 oz. proof Libertad in plastic case... I saw that one too on ebay. Very nice looking coin. |
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Valued Member
United States
333 Posts |
ebay always has a few for sale. They can get pretty pricey, though.
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Pillar of the Community
United States
3670 Posts |
"Mongolian coins?"
What are you speaking of Vinny?
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Valued Member
Canada
442 Posts |
umm.. the one in the original post? 1 oz silver mongolian 2007 wolverine gulo gulo? I think its a series. I think you're in the wrong thread silverhawk! :P
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Pillar of the Community
United States
3670 Posts |
No mistake Vinny, I thought you were speaking of the Ural owl, most recent sighting in USA, starting at 399, the cheapest I can find, lol....
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Pillar of the Community
 United States
1454 Posts |
Silverhawk74,
I wanted that darn Owl. I hesitated at $175 and missed the boat. I doubt it will ever get that low again.
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Pillar of the Community
United States
3670 Posts |
I hesitated at like 250, an wondering if I will ever see it that low again, lol....
Thing is way sought after, an 2500 minting not too many out there....
If half the owners are hoarding away for a long time, then that means only 1250 are in circulation, or so....
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Rest in Peace
United States
9104 Posts |
Quote:
Within that massive group of people getting into silver are people that are also looking for low mintage coins with numismatic value. pushing up the prices. Certainly a valid point, but I would compare it to rookie baseball cards. Used to be if a player a was consistently good for 20-30 years and kept his nose clean, his rookie card would be worth a few hundred bucks. Having seen this, speculators drive the wunderkinds rookie cards to similar prices, often the same year. That sounds great, but if you're paying 2032 prices for 2012 cards, you've got 20 years of no profit ahead, even if he maintains great stats, and doesn't break a leg, get caught selling drugs, or get run over by a bus. |
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Pillar of the Community
Canada
1502 Posts |
The third coin in that wolverine, owl series is out already.
HEDGEHOG MONGOLIA 2012
Already sold out though not even issued (end of March)
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Replies: 42 / Views: 6,196 |
Posted 02/29/2012 09:51 am
