2017 Silver(!) Krugerrand

I totally agree. And even at 500k, that is way too many if the price is $40 or higher for a raw coin. The best comparison is the Perth Mint Lunar Series II 1 oz coin. The mintage is 300k and the issue price on these has been in the $25-$30 range. That is an established series and they still don't sell out for at least a few months. The South African coin is a 1st and an anniversary issue, but that does not justify an additional $10-$15 per coin for an unproven commodity.

 

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I guess we'll find out on Monday. If i get this coin I'm buying it as a semi numismatic coin not as pure bullion


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I agree it is a semi-numi, but so are the Perth Lunars and Chinese Pandas. Those are much cheaper and more established.
I still do hope that we receive a good surprise and the price will be fair. If not, maybe we'll be able to buy these from the junk bin in a few years

 

Does anyone have a link to where they are going to reduce the mintage from a million to a half a million? I googled it and didn't get anything but a reference to the MCM page but it still says the mintage is 1,000,000. If it's been reduced you'd think they would jump to change it downward?

 

At the same time they jump to change the price upwards.

 

I was looking through an MCM thread and noticed that the "First Day of Issue" SP 70 were released by the GovMint / MCM scarce and unique division for $250:

https://www.moderncoinmart.com/forum/threads/2017-silver-krugerrand.5833/page-2

See post #23

I'm surprised that these are reselling on eBay for $320-$350
http://www.ebay.com/sch/i.html?_odk...S1&_nkw=krugerrand+silver+2017+sp+70&_sacat=0

This has me anticipating that the regular SP 70 will still be pretty pricey ($179+).

 

One problem with that: there is no "regular" ones and they are all FDI. I base that on NGC's registry and I posted a screen shot of it. There were 2 early releases, 800 first day of production and 7,000 First Day of Issue. And that's it! No regular ones to be had, per the public record!
Something tells me that it won't be $250 though. If they have seven thousand of these, they will not be content with selling just a dozen or two. So that means they'll have to price them where the masses will buy them.
Now, the first day might be high but if that's the case it will drop in short order. I can't see them selling very many at that price.
I have always gone to Africa once or twice a year but I've been slacking the last two years and haven't gone. I've been toying with the idea of going back and paying the South African Mint a visit if it turns out that they really can't be gotten reasonable here.

 

Here's what's been graded so far: https://www.ngccoin.com/census/world/south-africa/sc-337/s1rand/varieties/654483/?vc=654439
the varieties filter should pop up to show how many ER, FDI, FDP, were graded.

 

I agree with you that the prices seem artificially high on the 70s right now. That is due to the low supply. Once more enter the market, the prices will more than likely come down.

In terms of the census, I have seen cases where there is a lag. There can only be a certain time-frame for getting the First Day of Issue label, but regular 70 labels can be produced at any time.
Also, from the MCM thread, post #35, there is a suggestion that regular certified and uncertified examples will be available. That makes me think MCM will sell normal 70 labels, Early Release 70 labels, and an assortment of other labels.
https://www.moderncoinmart.com/forum/threads/2017-silver-krugerrand.5833/page-2

 

That's a very interesting link that ddddd posted. https://www.moderncoinmart.com/forum/threads/2017-silver-krugerrand.5833/page-2 The MCM representative said that raw coins WOULD be available. That's cool. What's NOT COOL is that she said that monday we can order these, but they won't be shipping them right out the next day, the day after that, or even the next week. It's a PRESALE. They didn't mention that when they hyped up Monday as being the day! Someone mentioned earlier about them killing the interest in the coin. Yup, with this they sure are! What makes me mad is that I decided to work today to have some spare money to order coins monday. If it's a presale I doubt I'll be giving MCM any interest free loans.

 

I suppose that NGC could have some in que and in-process right now being graded that are regular non-FDI coins. MCM may have gotten word that those will be ready shortly. No rush I suppose since they are staging a grand "Presale". I can't get over that. It wasn't what I was expecting, that's for sure.
Since the registry shows that a great number seemingly have already been graded, I don't understand why they don't have these in hand for shipment?

 

I completely agree! It seems to have become the norm to do these "pre-sales" and I'm not a fan. In most cases, it is just dealers using the money from collectors to finance their coin project. MCM is actually better than others. Their pre-order might only take a few weeks. I have seen others (and once had it happen to me) where you wait 3 months after paying to receive the coin. Now I don't mind waiting a reasonable amount of time for a coin to be as complete as possible before release, but why should a dealer have my money for three months (interest free...try getting that from a bank and see what happens). I feel like products should be in stock and ready to ship the day they go on sale. I understand that with demand not everything can shipped the first day, but a one week to two week time-frame should be sufficient from payment to ship date.

 

no reason to get excited Edited: Language. just wait a year and buy it for a few bucks above melt

 

Want to bet on that?

 

I don't see what the big deal is about a "presale". I've ordered many coins like this. Sometimes it works out that the price of silver is higher after I ordered so if I had waited I would have paid more.


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sure. they will be minting thousands of these things.

 

It's about handing over your money before the product is even ready. I agree that with bullion it can work to your advantage due to spot prices. However, with numismatic items, spot and price swings should not be a big worry.

For example, when it first was being released, I pre-ordered the coin linked below (3 oz high relief Odin). I bought into the hype that this was going to be a special series and locked in my price (around $175 at the time). It took about 3 months from me paying until the coin shipped. There were multiple delays in production before the product was finished and finally shipped. Spot may have changed, but at 3 oz of silver, the melt value of that coin was under $60. At an issue price of $175, the dealer and I were both more than safe from having spot affect the final cost. The dealer did however have my $175 (and the money of many others) for three months. In that time they could have used it (interest free) to buy and resell more inventory, invest in the stock market, put in the bank, etc. Meanwhile, I was out the $175 and didn't have a coin to look at or money to spend on something else.


https://firstcoincompany.com/S/toke...2016-max-relief-minting-3-oz?filter_name=odin

And as an addendum, that coin now sells on ebay for around issue price (most people selling it on ebay tend to break even or lose money on it after the fees).

 

I seriously doubt that they will be selling at a few dollars above melt a year from now. It's the first year of Issue and has a privy so it will most likely hold it's value better than a few dollars over melt. But if it doesn't, that will be okay too. The people that like them won't mind that at all.

 

It can be a pain if the coin is delayed. But depending on the reason it may be out of the dealers control. As long as they're upfront about when the coin might ship then it's up to the buyer to decide if they want to make a deal. No one is forcing the buyer to purchase via presale.


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I seriously doubt that they will be selling at a few dollars above melt a year from now. It's the first year of Issue and has a Jubilee privy so it will most likely hold it's value better than a few dollars over melt. But if it doesn't, that will be okay too. The people that like them won't mind that at all.