Opinions Needed - Ram + Perth Mint Silver Coin Retail Prices

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Author	Replies: 5 / Views: 1,924
mrcruise Pillar of the Community Australia 552 Posts	Posted 06/01/2013 06:31 am I was after coin community opinions and thoughts on the pricing policies/mechanisms emploed by Royal Australian Mint + Perth Mint in respect to silver coins. A few years back when silver prices started to sky rocket the mints were quick to raise their prices to reflect this. Recent downturn in the silver market has seen silver half its price yet the mints retail prices have not refected this downturn. What are your thoughts on this? Pure profiteering practives by both mints I can understand but I feel the lower price has remained steady enough to see retial prices follow suit for both mints and reflect the lower price. Does this disuade people from purchasing from mints, waiting a few months and picking up coins far far cheaper on ebay (eg Crocodile Bindi Coin)? Pf course people will argue that the caviar silver coin has uped in price but I'm speaking in general Your thoughts please..... Edited by mrcruise 06/01/2013 06:31 am Report this Post to the Staff

appleangel07 Pillar of the Community Australia 1607 Posts	Posted 06/01/2013 6:06 pm Hi MrCruise, when they bumped the price to $90 for a one ounce silver coin I virtually stopped buying any silver coin from either mint,now the 1 oz coins are $109 - $112.50 it's just absolutely ridiculous,especially with the recent drops in bullion,down to around the $21/$22 mark. Report this Post to the Staff
ohb1 New Member Australia 2 Posts	Posted 06/01/2013 7:23 pm It sure put me off me from continuing my collection...The price of the coin, and nowdays, the number/variety of coins they produce are beyond a joke. I fail to see how anyone starting out on the coin collecting hobby can focus in on any one theme... ohb1 Report this Post to the Staff
MobOfRoos Pillar of the Community Australia 762 Posts	Posted 06/01/2013 9:32 pm There has always been a huge premium on the new release bullion coins released by the Mints. I guess that represents their profit margin once they have deducted operating costs. If you are buying coins for the gold or silver bullion you are far better off buying sovereigns and 1937 Crowns. Report this Post to the Staff
sel_69l Bedrock of the Community Australia 21788 Posts	Posted 06/01/2013 10:13 pm All mints buy precious metals for their various collector series on forward contract. For their retail issuing pricing on the PM component of those products, that part of the pricing is made realtive to their forward contract price, and the current PM price at the time of sale, for overall optimum profit. The retail sale issue price also has other components in it, such as the cost of manufacture, packaging costs, marketing costs, distribution costs, taxes, and profit. All of these costs have to be recovered in the retail issue price. In most cases, the volume issued for retail sale is what the mint considers to be the maximum the market will bear, relative to the intended issue price for that issue. The volume for a new issue is judged on feedback on how previous issues have performed under similar conditions. Sometimes, they get that wrong. This is where a collector with good judgement can invest in a new issue, or in the aftermarket, to his benefit. I agree with MobOfRoos, if you are strictly into Australian bullion coins. All of the Mint's costs are sidestepped, by simply buying in the aftermarket on long established issues with long established pricing. In this sort of case, common sovereigns and 1937 crowns were never issued as collector's pieces, and at a time when mints were not into high powered commercial marketing to collectors. Report this Post to the Staff
FNQ Pillar of the Community Australia 507 Posts	Posted 06/03/2013 3:15 pm As per MoR - as far as I'm concerned pre-dec offers great value with the right buys. If you insist on buying new, then consider mintage (for resale), collectibility, or Perth Mint bullion... Report this Post to the Staff
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