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 Replies: 60 / Views: 9,403 |
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Pillar of the Community
United States
3789 Posts |
So, I been looking to maybe get a 2015Somalia kilo coin to my collection. I was looking at the 2015 ones that are out now.
I figure, "ok this is a good time to get a 2015 somalia silver elephant kilo coin."
well, I track prices and this is what MCM Modern Coin Mart has been doing with their prices
Wes. night of this week (10/29/14) the price was 698 for one. Yesterday (10/30/14) I looked and they wanted 741 and today we are at 714.
Clearly they are playing loosely with the prices, because silver today is much lower than on Wes.
Dealers can do whatever they choose to make money. Thats not my business. However, to me, I hope everyone is careful when they go shopping on down days, because dealers are not adjusting prices accordingly.
Just make sure you know what you are buying before you take the plunge because you might not be getting a good deal!
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Pillar of the Community
United States
1277 Posts |
why buy a kilo coin now? aren't you contradicting your own advice?
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Pillar of the Community
 United States
3789 Posts |
contradiction?
Obviously you haven't followed my threads. I would ask you to please re-read my threads I have, learn about my interests and then come back again.
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Pillar of the Community
United States
1277 Posts |
you said only buy a coin or two, then you go for over 32 ounces?
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Pillar of the Community
United States
1431 Posts |
Quote:
you said only buy a coin or two Even though it is a kilo, that seems to be what he's doing. |
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Pillar of the Community
United States
1277 Posts |
fine. but with silver going down, shouldn't you be able to get this massive 2015 coin for cheaper in say... 2015?
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Pillar of the Community
United States
3789 Posts |
I think your confusion arises from the fact that you solely buy gold and silver as investment.
I have specific goals as a collector, interests and objectives in my hobby.
Again, have you read all my threads and know my interests? If you cannot answer that question then you need to go back and read all my threads.
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Pillar of the Community
United States
1277 Posts |
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Pillar of the Community
United States
3789 Posts |
I think you are completely missing the point my friend. Notice, first I said "maybe". The next sentence was me talking out loud.... I am a collector of Somalia elephant coins, in fact I enjoy coins with elephants, rhinos and other animals on them and I have been buying single coins of these as they are released. Furthermore, to me, I love this design this year, and I view the kilo coin, not in an amount of ounces but as one very large elephant coin. Finally, these coins are not common everyday coins. Yes, they are bullion. But they come and go on ebay, I usually start to see them at this time of the year as dealers carry some and then they pretty much sputter out. So to me, I want to see how much more we flush in price, how much faster, while supplies last.... versus seeing another year where I let them go, yes , because of falling prices. Mind you, I been skipping kilo elephants for a while now because of the price drop... To me, these are the two things I am balancing. I am NOT, however, buying for investment. I am a collector. I have waited a while now for a kilo... Finally, seeing the dealers jacking up prices in a market where prices are dropping,, as a reason to continue to stall out in buying one... which makes me  so we'll see. Again, be careful where you buy so that you are indeed getting a deal in accord with market prices of the metals. |
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Pillar of the Community
United States
1158 Posts |
You said yourself you are buying for collection purposes as much as silver investment. Wouldn't it be safe to assume others are doing so as well? If lower prices have increased demand for a particular coin then it could in fact raise the value of that product based purely on demand and not based on silver market.
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Pillar of the Community
United States
3789 Posts |
@tkbslc
could be, not sure. From what I track tho, some items have dropped in price, but they all vary. However, one thing that is universal is the drop in prices all across the board... just that they all vary.
I remember,memory serves me right, last year a 1 kilo elephant from one dealer was running 1800 I believe. Big big big price drop now..
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Pillar of the Community
United States
1454 Posts |
I think Yup should go back and read his own posts. Because he forgot to tell you the real difference between buying the coin he's interested in rather than buying 32 oz. of ASEs is the limited quantity of 2015 Somalia Kilo Elephants that will be produced. One, therefore, has collectibility and numismatic value; the other is simply attached to spot price. It makes more sense to wait and get the best possible price on one (the Elephant) than it does on the other (an equal number of ASEs), because the price of the Somali Kilo could be driven up in the future, regardless of spot, based on limited availability.
Edited for Yup - I was on your side the whole time, my friend. You periodically explain to people the difference between stacking and collecting. Your purchase is more about buying a limited availability collector's piece that should rise in value with the passage of time, regardless of spot price.
Edited by traevin
10/31/2014 9:53 pm
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Pillar of the Community
United States
3789 Posts |
@Traevin Hmmmm dont get your point, at all. Dont even understand what this discussion is about "32 oz of ASE's versus the coin" I want. Explain this to me.... |
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Pillar of the Community
United States
1277 Posts |
same weight.
you're right traevin. good explanation.
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Bedrock of the Community
Australia
21786 Posts |
yup7676:
I think you have partially answered your questions.
In a falling silver market, you see Somali silver Elephants going the other way, and you seem to be getting 'cold feet'.
I would say to 'pass' until you see the retail price of the kilo coin fall to a level you are happy with. They are still really bullion coins as you may very well know, despite the fact that they could be very hard to find later.
You could be left with a large but poor investment, until the silver price rises again.
Have you considered sourcing the kilo coin from elsewhere?
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Pillar of the Community
United States
2661 Posts |
Quote:
fine. but with silver going down, shouldn't you be able to get this massive 2015 coin for cheaper in say... 2015?  ..........Just like when silver was booming there is no guarantee as to what the spot price will be in 2 or 3 months. Just as I do he will buy it if he wants it regardless of price. |
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Replies: 60 / Views: 9,403 |
Posted 10/31/2014 12:08 pm
