Canadian Silver Wolf 2011...why so expensive?

I've noticed on eBay the 2011 Siver Canadian Wolf 1 oz .9999 $5 bullion coin is going for around $60 each!
With spot price at just under $34, that's a $24 premium on these. Some websites say "low mintage" but all the Wildlife Series have a mintage of 1 million each. From the Royal Canadian Mint site:

"In addition, while the Wildlife Coins are designed for investors, an extremely limited mintage of only 1,000,000 coins per design has many collectors interested as well."

The next ones in the series, the Grizzly, and the Cougar, are much cheaper! Can anybody hazard a guess why these Wolf's have such hefty premiums on them?

 

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They were the first.

As a result:

1) They're all in the hands of collectors now...tougher (if not impossible) to find them at "regular" prices from the usual sources.
2) Anyone who "missed the boat" originally, and now wants to go back and "back-fill" their complete set is looking for one.

Supply is down...sure, there's 1,000,000 made, but the supply of those for sale is down, and demand's up.

You do the math.

 

Thanks, I did the math and it looks like these first year Wildlife Coins are going to be as popular as the first year of the Australian Koala, 2007, which is going for $85-$90 each. Except they only made 100,000 or so of the Koalas in 2007.

Guess I'll have to pay the price or cry wolf!

 

Its because the 2011 wolf is a bigger verson of the 2006 half ounce wolf that had a lower mintage and high premium.

 

I wonder if supply and demand has anything to do with it?

 

It is due to supply demand, due to lower silver spot price couple months ago Apmex and other larger distributors marked down their silver coins which resulted in massive sell off due to speculation (people expecting $40/oz silver price by summer).

 

This coin has the perfect storm for higher prices. It's the first in a series, and it's based on an existing coin design that was very popular. It is one of my most favorite designs. It was also on the open market all throughout the silver ride to $49 last year so a lot of people probably bought it at higher prices unless they got on the train real early. The moose coin looks like it could be more popular than the grizzly, and as new people get into the series the previous coins should continue to rise. 1,000,000 isn't a super low mintage, but it's low enough to command a premium.

 

:d

 

Maybe it has to do with the popularity and magical properties of this shirt:

http://www.amazon.com/Mountain-Three-Wolf-Short-Sleeve/dp/B002HJ377A/ref=cm_cr_pr_product_top

Read the reviews, hilarious.

 

Glad I got mine when they first came out.

 

Those comments made my day! LOL....

 

I bought one last month when silver was at $30...and still paid close to $60 for it. I just needed one for my collection!

 

The wolf is a very cool design and the first in the series so that likely explains much of the premium. TC

 

Since posting this question, I've looked around and found a guy willing to sell five (5) of these coins to me at $60 a piece, no tax, no postage. Says he has 2-3 rolls, all BU and in air-tights. Am I in "wolf" heaven?

 

Sounds about right it sells in ebay for $60 with $2 S&H (seller is basically making $55 dollars), so i bet you can buy it from sellers outside of ebay in mid 50s but i wouldn't recommend it.

 

I got one in a nice air-tite for $43 last year. I should start collecting this whole series before there's too many to catch up on. They are really nice.

I thought the above was an interesting comment. Somebody over in my Canadian silver proof set thread believes "20k isn't a low mintage for any modern coins." I agree with the above comment. As nice as these are, 1 million is not a lot. Especially with people/dealers hoarding multiples.

 

Don't forget the 2006 Timber Wolf 1/2 ouncers. They are the prototype for the 2011 Wolf and have a mintage of only about 100,000.

 

I got the half ouncer myself a couple of years ago for about $15. It is a lovely coin.

 

I think if you're patient and very watchful (and in a large city), you should be able to find a wolf closer to $40. ALSO, be sure to look very closely for the possibility of a milk spot. That sure is a bummer. Speaking of the series, I see $6 premiums reasonable, but I sure wouldn't consider stacking them. A million is a whole bunch.

 

Pardon me, but I think you're "dreaming" about getting a 1 oz canadian wolf for around $40 no matter where you live. Right now, on Ebay the one ounce Wolf's are going for $67-$68 each with bidding and the buy it now price is over $70. I have found that it is NOT the mintage amount that makes the difference in the price, it is the popularity (demand) of the coin. Maybe mintage will mean a difference 10 years from now, but right now it's the demand of the coin. The Silver Spot price doesn't even make a difference. In my opinion anyway.