2017 Silver(!) Krugerrand

Discussion in 'Bullion Investing' started by COCollector, Oct 17, 2016.

  1. Rian

    Rian Member

    Let's be honest here. This coin is only a 'nice-to-have' for someone who does not know what to do with their money. This coin is not an investment, as you are likely never to recover your investment. Give it a year and those who paid $60 for the raw coins will be selling them online at something close to bullion value. Currently I feel most people saw an opportunity to make a quick buck and is exploiting the market while the trend lasts. There will be many people who will be kicking themselves in a year from now.
     
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  3. stoster38

    stoster38 Member

    I agree with the part where you say it's a nice to have. But totally disagree on the part where you said it's for someone who doesn't know what to do with their money.

    Do you honestly think that most people, who bought this coin, bought it as an investment? I never saw it as an investment. For me it's a collector coin plain & simple. I'm not looking to make money from it.


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  4. sio2ga

    sio2ga Member

    It seems like there's two groups here - Coin Collectors and Stackers. And maybe those who are somewhere in between. The coin collectors usually respect the stackers out of an appreciation for silver and its value. The stackers generally don't seem to have the same respect back in return for coin collectors. Anyone that pays over spot price for silver to them is someone who is stupid at best.
    I am a coin collector and I appreciate silver but I don't care for bars or rounds. I do try to make money selling coins sometimes but I am mainly interested in buying them for my collection. I hope to never sell the ones I bought for my collection, so I could care less what they are worth later because they are worth something to ME right NOW.
    So yeah, when Rian said that anyone that bought one is "someone that doesn't know what to do with their money" I can see where that could be offensive to some people. I doubt he meant it in a negative way and I have for sure seen some down-right offensive comments that were a lot worse.
    The way I look at it, anyone that can spend $129 or $400 for a silver Krugerrand is obviously doing okay and seems to be handling their money appropriately if they have that kind of discretionary income.
     
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  5. Rian

    Rian Member

    Yes, sorry everyone, I am not meaning any disrespect or meant to be offensive towards anyone. Just my opinion that the current values on the market is way too high and actually finding it strange that people would pay these amounts.
     
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  6. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

    I just ordered my NGC slabbed SP70 Silver Kruggerand! I didn't care what I just paid for it. A treat for me for the 17 hours of overtime I did at my job last week :smug:
     
  7. ddddd

    ddddd Member

    My guess would be those sellers are targeting the local market or the European collectors. These people would likely have to pay more from MCM, so they buy from those sellers.
    I have seen instances where a world coin I list on ebay will sell for more than my price from a European seller. It must either be the shipping or buyers trust the local sellers over US ones.
     
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  8. Rian

    Rian Member

    Even locally in SA most people sell them for around ZAR1200 - ZAR1400, which is close or just over the US$100 mark for the ungraded coins. Most, if not all auctions I have come across on local SA platforms, sell the ungraded for about ZAR1200. I have come across some Facebook groups where some sellers listed some of them for ZAR800, which is about $60. But, these have been sold out quickly.

    The coin is no longer available from the SAMint. So, even South Africans can't pop in buy them at ZAR660, which was their selling price for the ungraded coins.

    The past month most big coins dealers in SA had nothing left in stock. But, most of them appeared to have received new stock on Thursday and they are now selling these coins at around ZAR1400.

    I pretty much guess the buying market has set the price. Buyers are willing to pay at that price. I have pretty much been following the sales on this coin and it is fetching record high prices, in my opinion - http://coindatabase.org/coin.php?q=1616
     
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  9. sio2ga

    sio2ga Member

    Are you in South Africa? The situation is not making much sense to me as far as the coin selling out. I saw the SAM website and sent them an email about shipping to the USA but they never responded. I have a friend in Joburg that was supposed to get me one and I assumed he would order online but he ended up just going to the mint once they had stopped selling them. So from what I can tell the mint offered the coin for sale for a few months and then stopped selling them. What in the world happened, because I am reasonably sure they didn't sell a million coins in three months? Edited to add: it looks like the mint is selling these again for approx US $45. The mint had pulled the coin from the website but they have the coin on offer now. http://www.samint.co.za/order-form/
    BTW, your coindatabase link doesn't work and it seems they lost the domain to a company that buys expired domain names.
     
    Last edited: Apr 3, 2017
  10. sio2ga

    sio2ga Member

    That makes sense and it's something that I had not thought of. It looks like this coin can once again be ordered from the mint for $45 so why come there aren't tons of people selling them for $70? That would be quick easy money for someone even after ebay fees. http://www.samint.co.za/order-form/
     
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  11. Rian

    Rian Member

    Hey sio2ga

    Yes, I am from South Africa. Firstly, the coins were available for a short period of time late last year. They then stopped selling it. The SA Mint never gave us an explanation on why they stopped selling it. There were a lot of speculation here on poor quality coins being minted and the Mint forced to stop and redo them again. This was never confirmed by the Mint though.

    Earlier this year they made the coin available again. My problem was that I visited the Mint about 4 times and each time I was told they were out of stock. Most retailers received limited stock and were sold out in a matter of days. Most retailers appeared to have received new stock only last week. Most of them are sold out again.

    I am not sure what is going on with the Mint and the silver Krugerrand. All that I do know is that for the most part of February and March, we were also forced to buy abroad.
     
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  12. Rian

    Rian Member

    Not sure their order form is working. I have tried a number of times to place online orders, but I never received a reply from them at all. For the most part I ended up visiting the Mint and buying new coins directly from them.
     
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  13. sio2ga

    sio2ga Member

    I knew that the mints claim that the first batch of coins sent to MCM were damaged in shipping didn't hold up to scrutiny because they quit selling the coins there in South Africa right when it happened. That pretty much meant that "damaged in shipping" wasn't the truth and just an excuse to save face. It appears that the Mint is still striking and selling the coins as they are made then and just releasing batches of them? If that is so and if they are making a million of them, at some point the mint store there will have plenty and then hopefully the price will drop to a reasonable one. But for now, it seems that anyone that walks into the mint store there and finds them available can make a real windfall by selling while the market is hot.
     
  14. chrisild

    chrisild Coin Collector

    Hmm, that link (see screenshot taken a few minutes ago) works fine here ...

    cdb.jpg
     
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  15. sio2ga

    sio2ga Member

    It works for me as well now. Hmmm.......... The mysteries of the internets! No way for me to edit the post now though as far as I know. Before I made the post I had even tried just going to coindatabase.org home page and it showed at the time that it was available for sale by cheapdomainnames dot com? I even checked my browsing history for earlier this morning and I did enter the address correctly. I think if a domain fails to respond that an ad server fills the page or something?
     
    Last edited: Apr 3, 2017
  16. longnine009

    longnine009 Darwin has to eat too. Supporter

    20170403_134415-1.jpg 20170403_155005-1.jpg I don't think I ever paid a compliment to a TPG since their inception. But it looks like NGC got mine right. And this coin, in a black holder, just freaking rocks!

    My apologies for these suckie images. It all looks a thousand times better in hand.

    The spots behind leopard chow's ear and 17 were on the holder. There are no imperfections that I can see on this coin. :)
     
    Last edited: Apr 3, 2017
  17. ddddd

    ddddd Member

    Last edited: Apr 3, 2017
  18. stoster38

    stoster38 Member

    Got my coin today. Here it is!!
    IMG_1901.JPG
    IMG_1902.JPG


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  19. Cwbyfrmhllxx

    Cwbyfrmhllxx Member

    Nice Coin!!! :)
     
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  20. sio2ga

    sio2ga Member

    I've always wanted to get a gold Krugerrand. If I do, this one would be the one to get.
    This got me to thinking................
    I wonder how many gold Krugerrands will now be bought by first-time customers simply because of the first silver Krugerrand? They will probably gain new customers who will buy gold because of this release, although that might not be evident immediately as lots of people (myself certainly included) would have to save up for it.
    The 50th privy mark really differentiates the coin, at least in the pictures. With the silver coin briefly in my hand it was really hard to see. I'm wondering if that really was the best route as opposed to it being in relief or incused? Also, it seems that the privy would be a source of a lot of defects? Does anyone know how the privy is made on the surface of the coin?
     
    ddddd likes this.
  21. paddyman98

    paddyman98 I'm a professional expert in specializing! Supporter

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