2017 Silver(!) Krugerrand

Just buy a gold one.

 

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If anyone is looking for a Gold one, Apmex on ebay has it on special for $20 over spot for 1 oz (note: these might not be BU...Apmex doesn't state it).

http://www.ebay.com/itm/SPECIAL-PRI...SKU-85815-/141847131500?rpp_cat_id=5000006556

 

I received an email from Govmint today, OMG. They are offering the sp70 ER for $129, but they want $149 for the sp69 FDI. Is this the state of our hobby these days ? Am i not understanding the importance of FDI coins ? I would rather have a 70, over a 69 no matter when it was submitted. Gimmick or not, it just boggles my mind that this is the state our hobby has evolved into. I'm not planning to get one anyway, just cant/don't understand the reasoning. Isn't it about the condition of the coin, not when you submit for grading that is important ? After all, are we submitting for the grade and authenticity ? Or are we now submitting for the attribution of the date the TPGS receive the coin. I must be getting too old for this.
Rant complete.

 

The label game is silly in my opinion. However, when buyers are willing to pay more for a certain label, no business will skip the opportunity to profit. It is all in the aggressive marketing (which isn't the best for the hobby or the buyer, but it is great for business).

 

And has anyone heard anything about the raw silver krugerands and what their price may be? Most likely had to be sent back to South Africa again after a bumpy ride in..

 

$60

 

$ 60.00..for a raw silver bullion krugerand... Wow that is alot. I am definitely waiting for it to come down if it comes down in price.

 

MCM has rolls of 20, certified gem, for $1500.00 (approx.) While supplies last. Better hurry !!!

 

Hi there everyone

Out of interest, does anyone know why MCM's Krugerrand coins are graded as 'Specimens' with NGC? Or, will all silver Krugerrands sent to NGC be graded as Specimens?

 

I believe all will get the "SP" besides the proofs, which will be "PF."
This is because the coins are marketed as having a special finish (almost like a reverse proof or enhanced finish...it is not a regular bullion or "MS" strike).

 

Thank you for the explanation ddddd. It makes sense.

 

close-up image of dinged '17 silver kruge by sio2ga posted Mar 30, 2017 at 2:14 PM

supposedly a sp70 2017 silver Krugerrand by sio2ga posted Mar 30, 2017 at 2:13 PM

Well, I got my long awaited coin in. Dinged. It's supposedly a 70 but has a nice shiny ding. A brilliant reflective ding in the frosted field. That really sucks.

 

That sucks! Is that really an acceptable 70 to NGC?

 

I have bad eyesight and have to wear glasses to read, especially fine print, so if I can see this defect without glasses it for sure shouldn't be a 70. I think a 70 has to pass inspection at 5x magnification so it shouldn't be a 70 if someone with poor eyesight can see it. Somebody correct me if I am wrong.
What makes it so bad is that since the field is frosted this really stands out and if you tilt it just right it is every bit as shiny as the springbok! It wouldn't bother me so bad if it was on the back but it's right in front.
I emailed MCM to see about exchanging it. It was hard to be civil. I initially typed out, "can I exchange this for one that is not damaged, or at least damaged in the back instead of the front?" but then thought better of it and deleted the snark before sending. Still, this makes me mad and it was not cheap either. You'd think MCM would inspect the coins themselves before sending.

 

This is really unacceptable. Somewhere between the SAMint, MCM and NGC someone needed to see this. Like you said, NGC clearly state on their website that they inspect coins under 5x magnification. They cannot say they 'missed' it. Makes me think if they probably just went ahead and slabbed batches of these coins without any inspection at all.

 

That is poor all around. However, in my experience MCM will make it right. Make sure you ask for a full refund or exchange and a prepaid shipping label to return the bad one. I hope it all works out for you. Best of luck!

 

I just got an email tonight that my uncertified Krugerrand shipped. Can't wait to see it!!

 

Did you buy from MCM?

 

Yes that's where I got it.


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I see a lot of the uncertified raw Kruges being offered for sale on ebay for $100 plus shipping from South Africa. They must be out of their minds since they can be ordered from MCM for $60. The bad part is that the coin will prob be no better than one from MCM and be a reject from grading (scoring less than 69). If they honestly ship one straight from the mint that hasn't been looked at and cherry picked it'd be worth $70. That has them making a quick twenty dollars after ebay fees on a $40 coin from their mint. I geuss they want to get rich though. I looked at the sales history of some of them and they are in fact managing to sell them at that price.