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Pillar of the Community
Canada
2984 Posts |
What is a reasonable price? I certainly don't think $1000 is reasonable if you look at the still available gold coins at the Mint.
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Pillar of the Community
Canada
6768 Posts |
@MonneyPenney If we will speak about gold content, or just to own "piece of history" - you absolutely correct. But in order to own the rarest coin from all 6 possible - need to spend extra (now, when all $5 sold out at RCM). As I understood - the next "rare" is 1912 $10 - and it offered on ebay also with nice premium.....and it still possible to get 1913 and 1914 $10 for $1000 (plus tax). |
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Pillar of the Community
Canada
6768 Posts |
If 500 was an "issue price", now I am OK to pay $750 (if I want this coin) and up to $1000 if I really need it to mine collection. This is reasonable for me. *Need to remember, that Canadian seller (probably on of us) paid for it $565, and will need to pay fees to ebay and PayPal, while selling. Edited by Silveroid
02/05/2013 6:35 pm
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Pillar of the Community
Canada
2984 Posts |
The only reason a person is willing pay such a high premium for one of the $5 gold coins is if he needs it to complete the collection of all six 1912-1914 Canada Gold Coins.
Actually, I already ordered the 1913 and 1914 $5 gold coins. The 1912 $5 coin sold out before I could order. I wouldn't mind paying a small premium for a 1912 $5 gold coin to complete the $5 set. But not at double the issue price.
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Pillar of the Community
Canada
6768 Posts |
That exactly what I've meant.
$1000 acceptable only for 1914 $5, if it really required for collection.
But not such money for 1912 $5, although it is first issue year.
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Valued Member
Canada
373 Posts |
Is there a point of discussing this? The price will be whatever the buyer and seller are willing to meet at. If they are missing a certain item, it is worth more to them. This is why low mintage items are worth more. Its not about the content. It's about the rarity of the item.
That being said, I heard that the boutique sold out all of its $5 coins in a matter of minutes yesterday and I don't think any dealers have sold any.
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Valued Member
Canada
196 Posts |
Moneypenny: when everybody has the same thinking as you do and wanted to collect and complete their gold collection, they will find out that the mintage of each coin is different. They will find out that mintage for 1914 $5 gold is less than 20% of mintage of 1912 $5 gold. For every 5 collector, there will only be 1 collector having the full set. In this scenario, would you pay more for the 1914 $5 gold. Its just supply and demand whereby the 4 other collector waiting to complete the collection fight for the 1 gold coin they are missing.
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Valued Member
Canada
196 Posts |
Which boutique are you talking about Taro-Chan
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Valued Member
Canada
373 Posts |
^ Ottawa Mint Boutique. The one weekend I don't go check, the Monday they release them =(
Oh well, still have the ones I originally ordered but was going to get one for a friend.
Edited by taro-chan
02/05/2013 7:44 pm
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Valued Member
Canada
269 Posts |
@MoneyPenny: I know that you don't personally think $1,000 is reasonable, and personally I don't think that the price of gold is reasonable at $1800/oz either... but that is the market price! I am not looking to offend you, but you've been looking for a "reasonably" priced coin for the last few months so maybe it is your expectations that are "unreasonable". At this point, if you find someone willing to sell you one at the price point your looking for then they will be taking a loss on the current value.
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Pillar of the Community
Canada
1571 Posts |
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Rest in Peace
Canada
1360 Posts |
Just an FYI - gold spot closed Feb 5th $1671 US puts the 90% coins $5 at $376 and the $10 at $752 (gold value only) With that in mind - the real consumer will buy these from the mint, sell them on ebay hopefully for $800 and $1600 then use the profits to go buy GMLs as the price of gold has been the lowest in quite a while. |
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Valued Member
Canada
269 Posts |
@Dcadon: That sounds great, but the cost for Canadians includes tax (13% here in Ontario)... so the price for the $5's are $565 and the $10's are $1130. Even if you do get $800 on ebay you will lose almost $125 in fees to eBay/paypal and exchange... don't forget that shipments to the US need a signature, which means Xpresspost (roughly $30) and should have insurance (roughly $10). When everything is said and done you'd be looking at $70-$100 max profit, which is nice, but certainly not enough to buy a GML. |
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Pillar of the Community
Canada
867 Posts |
People should be patient.. a couple of local dealers are getting them, so I think there are plenty to go around....and the Bank of Canada could always find a few more bags.
I got my shipping notice on Monday, so I'm expecting to post some photos Weds!
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Valued Member
Canada
269 Posts |
Tripoli: Which dealers are local for you?
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Replies: 2,778 / Views: 301,195 |
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Posted 02/05/2013 6:25 pm
