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 Replies: 17 / Views: 8,229 |
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Pillar of the Community
Canada
1189 Posts |
Why this coin so expensive? Any special?
Does it really worth over $1000 just for 1oz silver.
How many people on this forum are willing to pay that high premium for the coin?
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Pillar of the Community
Australia
7096 Posts |
Quote:
Why this coin so expensive? Any special?
Does it really worth over $1000 just for 1oz silver.
I think everyone is asking that same question  |
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Pillar of the Community
Canada
981 Posts |
First coin of the series maybe it is a popular coin set I sold the blue ringed octopus coin today for $400 and with the new funnel back spider coin selling out so fast there will be more interest in the set again which only comes out once a year.
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Bedrock of the Community
Australia
21788 Posts |
Just the coin for arachnophobics.
I believe for this reason some of them that were struck, were withdrawn from sale. Good way to build up a reputation, create interest and thus a big premium in the aftermarket.
Redback spiders are closely related to the black widow spiders in the U.S. I have seen and killed both. Both have been known to kill humans.
They are easy to kill. I just squash them with my thumb. The red backs are common in drier corners of back yards in Sydney, and I don't particularly like the threat they pose to my cat.
I visited San Diego a couple of years ago and onlookers were a bit horrified with my technique for squashing black widow spiders.
Actually, I am not an arachnopbobic. I rather like the little guys, especially when they help to get rid of mosquitoes, which I hate with a passion.
Mosquitoes, because they are disease vector, they are the most dangerous animals to humans on Earth.
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Pillar of the Community
Australia
1607 Posts |
I love them,only because I had 2 which I paid $150 for,i sold them for $2100 about 3 years later.
I guess they are worth what someone is prepared to pay.
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Valued Member
Australia
119 Posts |
Good on ya Apple. I guess I need to look into these issues just to build up a war chest for my error coin purchases. Wow.
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Pillar of the Community
Australia
1006 Posts |
They are quite rare because the mintage is relatively small (a measly 5000) all of which were sold out quite quickly in 2006 and what only makes it worth more is that it looks absolutly fantastic and in my oppinion looks the best in the whole series. But what also makes it so expensive is the massive demand for this particular coin. Another contributing factor maybe that the coloured reverse was relativly new technology in the minting procees.(please correct me if I am wrong on that last point). Otherwise the market determines the price of a product which will either increase or decrease according to the supply and demand for a product.
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Pillar of the Community
Australia
552 Posts |
There was a rumour, though never substaciated, that a large amount was purchased by a motor cycle gang for its members
The guy that mentioned this had already had a few drinks so do not vouch credibility of his statement
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Pillar of the Community
 Canada
1189 Posts |
 hahaha. Very funny.  In this slow economy time. There are still many rich people out there, willing to pay such high premium for just 1 oz silver coin. and hoard many new release coins. I wish I can be one of those people.  |
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Valued Member
180 Posts |
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Pillar of the Community
Australia
1244 Posts |
That's easy
They did the normal release then after it sold out a Russian dealer in 2011 made an order for more coins as they were so popular.
Heres what you have to note>> Russian version
They weren't allowed to be the exact same design, so on the Russian version has a wide gap around the picture of the spider to rim, the year date of issue was 2011 and mintage was 2,000.
Original release:
Year issue was 2006
Mintage 5,000
I will add some pics for you soon
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Pillar of the Community
Australia
1244 Posts |
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Pillar of the Community
Australia
1244 Posts |
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Valued Member
Australia
218 Posts |
I guess for those who are trying to complete the set, they have no choice now, but to pay that premium. And probably because it was the first one released, it took collectors a while to catch on. I have the The Great White Shark, Blue Ringed Octopus, The Saltwater Crocodile and the Australian Eastern Brown Snake.
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Moderator
 Australia
16857 Posts |
Just goes to show the old adage "you learn something new everyday" is still true.
I've never heard of those "Russian restrikes" before.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Valued Member
180 Posts |
Thanks Australian coin I appreciate your knowledge
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Replies: 17 / Views: 8,229 |
Posted 07/04/2012 8:21 pm
