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 Replies: 43 / Views: 8,374 |
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New Member
Australia
31 Posts |
Hey Numis Gods Can I get the most numismatically informed minds in the universe to give their humble opinion on this [ http://mintissue.ramint.gov.au/mint...?code=801260] Do you think they will sell out quickly? Do you think they will become more sought after than the 2001 set? Is the fact that there is the 1c, 2c and the round 50c in the set going to make this set popular? Do you think that a mintage of only 300 will make this set sky rocket in price? Just something to ponder dudes. Thanks P.S. Lim, I can hear your heart pounding from here. Stop that deep breathing and clean up the dribble on your keyboard !!!!!! |
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Pillar of the Community
Australia
3831 Posts |
I've seen this set in real in a local coin dealer here. Perhaps the price tag of 3890AUD is QUITE expensive but the Aussie mints really know how to make great money as well as artifically minting low to make demands go insane, just like the experimented palladium coins.
Prices to skyrocket? I wonder. Perhaps the value might go higher, but not a lot higher (I mean, do you expect them to go over 3 times the value, which would equate to 10 grand+?) as the mints would have eaten much of the profits in the first stage. Think about it, how much gold is there in that set when 1oz of gold is just 870 aud.
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Pillar of the Community
Australia
1529 Posts |
Quote: P.S. Lim, I can hear your heart pounding from here. Stop that deep breathing and clean up the dribble on your keyboard !!!!!! Unquote: I am already on bread and water for the rest of the year...LOL...  Seriously, it is a nice set to have if you can afford it. The 2001 set certainly has appreciated in price since it's issue, but the same cannot be said of the 2005 set. will this appeal to collectors with a mintage of only 300 sets and the inclusion of 1 and 2 cent coins, I doubt it (sour grapes here).Look at the FSPS,it is still not sold out and I secured one for less than issue price. |
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New Member
Australia
45 Posts |
Well going by previous gold sets such as the Yr2001 Six gold coin proof set, with a weight of 3.684oz 99.99% pure gold content and based on today's gold price of US$650 per oz, and exchange rate of US$0.76, the set contains $3150 of bullion gold value. Remember also, that this year's set contains the 1 and 2 cent piece. Don't know how much more gold there is, as the 50 cent is the round type vs dodecagonal of previous sets. Now RAM wants $3890 which makes it only a 23.5 % markup.....surely you cannot say that RAM has eaten too much of any future profit with exhorbitant mark ups. And based on a mintage of 300 sets, I would say that this set has a lot more upside than downside potential. quote:
Originally posted by gxseries
I've seen this set in real in a local coin dealer here. Perhaps the price tag of 3890AUD is QUITE expensive but the Aussie mints really know how to make great money as well as artifically minting low to make demands go insane, just like the experimented palladium coins.
Prices to skyrocket? I wonder. Perhaps the value might go higher, but not a lot higher (I mean, do you expect them to go over 3 times the value, which would equate to 10 grand+?) as the mints would have eaten much of the profits in the first stage. Think about it, how much gold is there in that set when 1oz of gold is just 870 aud.
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Valued Member
Australia
122 Posts |
I called the RAM to order a few of these Gold sets (total weight 122.15 grams) and I also wanted to find out how fast they are going out on the door. They told me the selling is strong about 20-30 sets a day so by the time of the Brisbane show they could completely run out.
Edited by projack
05/02/2006 12:54 am
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New Member
Australia
45 Posts |
Based on that weight, that would be equivalent to 3.927 oz of 99.99% gold. And would be equivalent to AUD$3358 of gold bullion. Now with respect to selling price of $3890, that's only a mark up of 15.8% markup for local buyers, and for our overseas friends, it's only 5% markup (based on GST free price of $3536)....hardly a rip off by RAM. Geez, based on these margins, I don't know how RAM makes any profit at all. Maybe they have hedged positions in gold and bought it when gold price was much cheaper. quote:
Originally posted by projack
I called the RAM to order a few of these Gold sets (total weight 122.15 grams) and I also wanted to find out how fast they are going out on the door. They told me the selling is strong about 20-30 sets a day so by the time of the Brisbane show they could completely run out.
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Pillar of the Community
Australia
1079 Posts |
Projack, I hope you got a discount for buying a few sets.
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Pillar of the Community
Australia
3831 Posts |
quote:
Originally posted by Guest1595
Based on that weight, that would be equivalent to 3.927 oz of 99.99% gold. And would be equivalent to AUD$3358 of gold bullion. Now with respect to selling price of $3890, that's only a mark up of 15.8% markup for local buyers, and for our overseas friends, it's only 5% markup (based on GST free price of $3536)....hardly a rip off by RAM. Geez, based on these margins, I don't know how RAM makes any profit at all. Maybe they have hedged positions in gold and bought it when gold price was much cheaper.
May I kindly remind you that mints are too unlikely to pay the current full price of what gold prices are going at. Even so, if you take a look at a few months ago, let's say around January, it was at 560USD. Supposely if the mints really did pay full price for that, which is approximately 736AUD, making it to just 2890AUD. Profit? Plenty done there. Here is an interesting figure when I visited a gold mine here. (I will refuse to name the gold mine company & area). This particular mine is a type of rockblasting type and gold content per tonne is severely low. The only reason why this mine still exists is because of the proven gold reserves. To extract a tonne of rock that has just approximately 0.6-0.8 grams of gold per tonnne of rock is around 10AUD, and to make an ounce of gold, is said to be around 390-520AUD. Perhaps that is good for the mining company, as well as this particular type of rockblasting operation for just such little gold is normally not done if the gold prices were not to be this high. Now, I wonder if the mints here not have any contracts with any particular gold mines. Indeed with a mintage of 300, prices are likely to go higher, but how much higher? 10 grand for a set? 20? |
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Valued Member
Australia
161 Posts |
quote:
I called the RAM to order a few of these Gold sets (total weight 122.15 grams)
Was that total weight including the wooden box and outter packaging or was that actual weight of the coins minus capsules etc? |
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New Member
Australia
45 Posts |
SS, that is likely to be the weight of the "gold only" as the 01 and 05 sets both had total gold weight of 114.59grams (3.684oz). Geez SS, you're not serious with your question about whether weight includes outer wooden case...that only weighs close to 1kg.  quote:
Originally posted by secretsquirrel
quote:
I called the RAM to order a few of these Gold sets (total weight 122.15 grams)
Was that total weight including the wooden box and outter packaging or was that actual weight of the coins minus capsules etc?
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New Member
Australia
45 Posts |
Hi Gxseries, Whilst the RAM may have contacts in the gold industry or may have hedged their gold buying price at a much lower level than current prices, I hardly think that we should hold a grudge towards them. Quite the contrary, their good business accumen has allowed them to keep their costs down on raw materials and what is even more noble is that they have not tried to capitalise on the current upswing in gold price and mark up their profits. If they were greedy they could have marked it up 50% from today's gold price which would make asking price for each set around the $5000 mark. Instead, since they have managed to keep costs down they have passed this onto the consumer (us coin collectors) and we should commend them for that. quote:
Originally posted by gxseries
quote:
Originally posted by Guest1595
Based on that weight, that would be equivalent to 3.927 oz of 99.99% gold. And would be equivalent to AUD$3358 of gold bullion. Now with respect to selling price of $3890, that's only a mark up of 15.8% markup for local buyers, and for our overseas friends, it's only 5% markup (based on GST free price of $3536)....hardly a rip off by RAM. Geez, based on these margins, I don't know how RAM makes any profit at all. Maybe they have hedged positions in gold and bought it when gold price was much cheaper.
May I kindly remind you that mints are too unlikely to pay the current full price of what gold prices are going at. Even so, if you take a look at a few months ago, let's say around January, it was at 560USD. Supposely if the mints really did pay full price for that, which is approximately 736AUD, making it to just 2890AUD. Profit? Plenty done there.
Here is an interesting figure when I visited a gold mine here. (I will refuse to name the gold mine company & area). This particular mine is a type of rockblasting type and gold content per tonne is severely low. The only reason why this mine still exists is because of the proven gold reserves. To extract a tonne of rock that has just approximately 0.6-0.8 grams of gold per tonnne of rock is around 10AUD, and to make an ounce of gold, is said to be around 390-520AUD. Perhaps that is good for the mining company, as well as this particular type of rockblasting operation for just such little gold is normally not done if the gold prices were not to be this high.
Now, I wonder if the mints here not have any contracts with any particular gold mines.
Indeed with a mintage of 300, prices are likely to go higher, but how much higher? 10 grand for a set? 20?
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Valued Member
Australia
122 Posts |
I believe the RAM set the price for the set once they decided to go ahead with the project, and they bought the required gold. That was most probably last year when the gold price was still under the $500 US mark. The RAM is not in the business of gold trading, and wouldn't care much about a 300 set worth of gold anyway. Probably they are also happy if the collectors do well. They may also look at it as the best advertising they could have.
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Valued Member
Australia
122 Posts |
I will let you know when is the last chance to buy!
Thanks Dion
That is fine just let me know if you are down to the last few sets.
Regards Peter Toldi
Dion Buck <xxxx@ramint.gov.au> wrote:
Peter,
Unfortunately allocations of set numbers are random, so I cannot request any numbers, nor can I hold any sets for anyone, that's just the rules. I can keep you abreast of how sales are going, and will let you know when numbers are getting low.
Dion.
From: Peter H Tholdy [mailto:xxxx@yahoo.com]
Sent: Wednesday, 3 May 2006 2:19 PM
To: Dion Buck
Subject: RE: 2006 Eight Coin Gold Year Set 2
Hello Dion
Thank you for the rearrangement for the shipping.
I would still be interested to buy a more if the selling is very strong on this set.
Could you reserve me the last of this set (number 300)?
If the set is sells out before the Brisbane Coin Show I authorize you to charge my Visa card for the last set (number 300).
If the set is still available by the time of the Brisbane Coin Show I need an email or phone call (0400 418 656) from you to confirm the sell.
All this above request applies only before I leave Australia on the 13th of June 2006.
Sorry for the hassle I give you, but normally my dealer handles this sort of things for me, but he can't help me on this set.
Regards, Peter Toldi
Dion Buck <xxxx@ramint.gov.au> wrote:
Hello Peter,
I will adjust your order accordingly.
Regards,
Dion Buck
Royal Australian Mint
Edited by projack
05/03/2006 05:43 am
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Pillar of the Community
Australia
3831 Posts |
Errrrr perhaps you should edit the email addresses out before you start to get spammers.
Good luck on getting the last set. :)
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Valued Member
Australia
122 Posts |
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Moderator
 United States
23525 Posts |
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Replies: 43 / Views: 8,374 |
Posted 05/01/2006 12:05 pm
