2017 Silver(!) Krugerrand

Wait until you see what HSN will offer them for. And they'll sell out.

 

Log in or Sign up to hide this ad.

There is enough chance of getting screwed on a coin deal without volunteering for it.

 

What P.T. Barnum said applies.

 

I see some enterprising person is offering the uncirculated coins for $200 each. He doesn't call it a presale but there is one sentence saying he will ship these when he gets them 3/30/2017. What could go wrong? http://www.ebay.com/itm/2017-SILVER...519987?hash=item33ca5e74b3:g:-ZUAAOSwTuJYxp2E

 

I have been seeing individuals pre-selling these since December/January. Those sellers must have some unhappy buyers by now!

 

MCM coins , free shipping

 

Ridiculous. It ain't that special.

 

Any guesses on what the 15,000 proofs will go for?

 

If you meant proofs, I'll guess only $179.99 they wouldn't want to overcharge.

 

APMEX was selling them raw for $200 and sold out and now folks have them listed on ebay for $500 with the apmex sticker still showing! I wish I had of known they had some for sale. So far I havent seen a graded proof being offered for sale.

 

OMG, AYKM, NFW, OK. (rant over)

 

Just seen ( at apmex) that they have 1/50 oz. Gold Krugers for sale this year. Sorry but the 50oz. golds are out of stock, and yes the proof silver's are also. I'm wondering what govmint/mcm will charge for them,(proofs) if they even get any to sell.

 

Well my philosophy of not buying every coin that catches my eye is alive and well.

 

Good god, some times I can't tell the difference between coin collectors and beanie baby collectors.

Pathetic!

 

How is it you know about beanie baby collectors?

 

Your point?

 

I was really looking forward to the Silver Krugerrands coming out last year, and I was bummed that they got delayed for a few more months.

I had been hoping they'd be around $40 each (ungraded/unslabbed), but now that I see the $60 price tag I'm not so sure. That's $60 I could spend in a different way....

I'll probably never have the money for a gold Krugerrand, so this silver version was probably going to be my only affordable chance to own a Krugerrand (yes, I know they make fractional ones....).

So now a few questions and scenarios come to mind:

- Is this first ever silver Krugerrand going to be the only one that is minted? Or will this be a yearly thing now?

- If it's one-year only, wouldn't waiting until a year or two later to buy find the coin with a higher premium? Not a lower price?

- If it's going to be a yearly thing, wouldn't older coins go for a higher premium as well, compared to buying it now?

- Is MCM going to be the ONLY source of purchasing? Or will these end up in the hands of local coin dealers eventually?

Ugh, so many questions. I don't know if I should buy one now or wait and see....

 

@dave_in_delaware

- Is this first ever silver Krugerrand going to be the only one that is minted? Or will this be a yearly thing now?
It is unclear at this point. Some are speculating this will become a yearly series. If it is a yearly series, the 2017 will be the only one with the special "50" privy (to celebrate 50 years of krugerrands).
- If it's one-year only, wouldn't waiting until a year or two later to buy find the coin with a higher premium? Not a lower price?
If the coin remains popular and is held in strong hands, waiting a year would likely mean one would pay more. However, if MCM & GovMint struggle to sell these (remember the mintage is 1 million), prices could come down when they try to clear out remaining inventory. Also, if flippers buy a significant amount and can't move it at a higher price, then we can see prices come down as large numbers come to market.

- If it's going to be a yearly thing, wouldn't older coins go for a higher premium as well, compared to buying it now?
When something is popular, the first year issue can hold a premium. However, if many people are disappointed or uninterested in future years, then we might see lower sales (mintages) in future years. That could mean that later years are valued higher. Remember the ATB 5 oz bullion coins from the US Mint? The 2010 bullion coins had a mintage of "only" 33,000. It was hard to order in some cases as all the authorized sellers kept selling out (or had complicated methods of ordering). These coins increased quickly in price (from $800-$1000 issue price for all 5 up to $2000-$3000 at peak values). However, the ATB program has not been as successful as the Mint originally believed it would be and we have seen lower mintages since that time (i.e. Hawaii in 2012). The 2010 coins are available now at lower prices than in 2011.
- Is MCM going to be the ONLY source of purchasing? Or will these end up in the hands of local coin dealers eventually?
There are dealers in other countries (like Germany) that sell these. In the USA, MCM / GovMint are the exclusive dealers. Coin dealers might have some, but they would need to either buy from MCM (meaning reselling for even more) or buy from some collector that it willing to dump the coin at spot in order to cover some expenses (I'd imagine very few of these cases).


By the way, if you like the Krugerrand design, save up and buy a 1/10 gold. It will cost slightly more than 2 silver versions and less than 3.

 

Thanks for the thorough reply, ddddd

 

As ddddd mentioned, there are other dealers in other countries that will be selling them. But, international shipping is expensive and usually adds $20 to their asking price just from shipping. I would think there are plenty of coin collectors that go to Africa that might would bring some back to sell. I go to Africa (South Africa and Namibia specifically) pretty regularly and I'm thinking about getting some to resell. Of course, the people that live in this country will aim to make some money if they go to this trouble so that is not going to make them much cheaper than MCM but the quality might be much better.
ddddd also mentioned that flippers might buy from MCM to resell, but I'm doubting that because the raw ones that MCM sells are rejects from grading so I wouldn't think too many people would buy from them with the aim of reselling. But, who's to say how many coins MCM actually bought? Rumor has it that they were allocated 25,000 coins but that doesn't necessarily mean they actually have bought that many. The line of thinking being with that is if they didn't buy a lot initially then they won't be dumping any later. I just don't know if the public would be able to know for sure how many they bought and received and out of that number how many they will be keeping (it appears they sent some back from the first batch and they may do that again).
It's really hard to say if they will be cheaper next year or in later years. They are cheap enough that it won't hurt to buy one or two now. I've been really excited about getting this coin, mainly because I really like silver coins but grew up reading about "Gold Krugerrands" in all sorts of novels and seeing them in movies in my youth, so the idea of a silver Krugerrand is really appealing to me because they are affordable and I collect silver coins mainly to begin with. Despite being enthusiastic I am well grounded in reality and know that it's a possibility that they may be cheaper because that's how it goes with coins quite often. A million coins is a very high mintage but I've read how millions and millions of coins were hoarded and disappeared in the past. It's a huge planet with a good many collectors so when you think about it on a global basis a million is not so much if the coin is popular.
I do think that with all things considered, such as it being the first silver Krugerrand and having the 50 year privy and being the first legal tender Krugerrand, they they will hold their value more than a lot of people think. I'd recommend buying one now because the most you can do is lose $20 but it's also a possibility that you may have to pay a lot more than they are asking now. Edited to add after giving it more thought: I'm betting that MCM will drop these to $40 a year from now. They had originally planned and budgeted to sell these at $40 to start with and I think that with all the hype and anticipation that built up with the delay caused them to decide to get as much as they can on the first release and knowing that they can always go down in price after a period of time has passed. But that's just a hunch and $20 isn't enough to cause me to wait on a "maybe". I'll probably get twenty bucks worth of satisfaction looking at it the first year.