2017 Silver(!) Krugerrand

Very nice!! I'm holding out for a better price before I add one to my sprinbok collection.

 

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Kinda/sorta related to the Krugerrand: I posted pictures of a 2 Rand coin that I got in from grading today. South Africa on occasion makes some fine coins! https://www.cointalk.com/threads/one-fine-coin-1992-south-africa-mint-technology-coin-2-rand.294692/

 

I just snagged the proof version of the Silver Krugerrand: A raw coin coming from Germany. I'll send it in for grading and that will be very interesting to see what it grades. The graded coins are bringing insane prices now. Well, I'm not sure what they are actually bringing but they sure have them listed at crazy asking prices on ebay. I'll post a photo whenever the proof coin gets here. It'll be great to have the Reverse Proof and the Proof version. I just wonder why come they didn't also make the regular uncirculated bullion version at a more affordable price? I guess that is next year..........

 

I got an email from JM Bullion recently (4 days ago).

Apparently, you can pre-order the silver Krugerrands from them now, too. And for a few bucks cheaper than MCM.

 

post a picture of the reverse proof

 

It's a trick! I got the same email and noticed that it appeared to be $4 cheaper but it's not. MCM posts the credit/debit/paypal price of $129 while JMB posts the cash price of $125. MCM cash price is also $125 and JMB credit price is also $129. JMB is less than a dollar cheaper - I think they were sixty cents cheaper than MCM.
If I had to bet, MCM got the better coins because they got them first. Although the first one that I got from them , supposedly a 70, had a visible bag mark or blemish on it in a very noticeable place.

 

Thanks for the clarification.I didn't really investigate and compare their price tiers.

Regardless of price from either place, it's still a little over my price range for a single silver bullion unslabbed/ungraded coin. As much as I would love to have one in my collection, I'm hoping they come down in price a little. But at the same time, I don't want to miss out on getting a non-blemished one.

*sigh* Indecision....

 

I know this is the thread for the premium uncirculated coin but I thought I'd share what happen when I ordered the Proof version from a coin dealer (not Apmex). I got the Proof version Silver Krugerrand in and there was a problem. I had noticed on the Apmex website that there were 5 reviews and the first three mentioned that when they opened the package that the coin was not in the capsule but had been bouncing around on one very long trip. With this warning in mind I video recorded when I opened my package and sure enough, the proof coin was loose in the box from where it had come out of the capsule. I put the coin back in the capsule and found the capsule to be very loose. With most modern capsules they fit so tight that you can’t tell where the seam is to pry them open, but these capsules are not like that at all. That is a serious mistake by the South African Mint. With all the money that they make selling gold you would think they could afford people that design things properly, have good quality control and hire people that do a good job. Don’t get me wrong, I am a fan of the coins the mint makes but the situation with the silver Krugerrands seems to be an ongoing disaster.

 

That's shoddy workmanship. SA Mint definitely blew this one!!


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Good grief.

 

2017 Silver Krugerrand Proof by sio2ga posted May 4, 2017 at 8:01 PM

I've uploaded some pictures of the Proof coin that I recently got. It is the exact opposite of the Premium Uncirculated coins.

 

Do you guys think the SP70 early/first releases are ever going to be worth more than they are right now? Either way I'm probably buying one but curious if I should consider it an investment or just a collection piece to look at every once in a while.

 

I don't think they'll get much higher. Usually the hype, at release, drives the price up. Then it starts going down to a more realistic level.


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Some people have said the price of the raw coin will drop down to melt and I disagree with that. I think it will hold it's value.
I think the graded coin may hold its value or drop a small amount. I don't think there is any possibility of it increasing even a tiny bit. They are making a million of these coins. A MILLION! And enough of them will grade 70 so that every one that wants one can have one without crazy prices. Well, currently the price is $129 for a SP70 and that does border on crazy. I can't see it going any higher.
I've been buying some of the raw coins from someone in South Africa, paying $65 per coin that they get at the mint for $45. I'm getting a few of these, but I have my reservations because the raw coin is probably going to be readily had for $45 in the future - but probably not mint sealed raw coins like what I will have.
It's a really cool coin but I don't think it is an investment - as a raw coin or as a graded coin. If you get one I don't think you'll be disappointed though.

 

So if you were judging a silver purchase on pure investment standards, to make money like 40 years from now, would you say someone would be better off (at current prices) buying 1 NGC SP70 First release Krugerrand, 2 ungraded krugerrands, or 7 encapsulated 2017 ASE's?

Is there any chance these Krugerrands will fluctuate in price with silver or will they be steady due to it's collector status?

 

Oh, as a sneaker collector I can definitely see your point on the hype as well. Do you think this year's will go down though with the "50th anniversary" privy or are you saying future years will go down to normal prices and the silver Krugerrand will just become a normal bullion coin?

 

It'll go down even with the privy mark. But not to what most would consider "normal bullion ".


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Man that,s a pretty coin !! waiting on my B/U version right now

 

In my opinion, the SP70 will fade in interest, at least slightly, regardless of spot.
If spot goes up, the 6-7 raw silver Eagles would be your best bet. If spot goes down, I'd think the SP 70 and the 6-7 raw Eagles would sell for nearly the same price (my guess is that the SP 70 will settle in the 75-100 range). The raw Krugerrands will be the worst performer. I think they are overpriced at $59 each and will eventually settle in the $25-$40 range.

In general, I think it would take a sizable increase in spot to make the Krugerrands go up (say $40-$50 spot).

 

Like most commonly graded coins most go down in value have several Presidental
Dollars and they cost more to grade then there worth most PF69,s, just to many
Produced at a high level to rise in value