2017 Silver(!) Krugerrand

I got an email earlier today from MCM. Silver official release date is 12/5 but no pricing yet


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seems like a gimmick. is the silver from South African mines?

 

I bet it is. But what's the difference? It is an official bullion coin from South Africa like the American Silver Eagle is from the US. Silver is silver.

 

How is it a gimmick? Seems like any other bullion coin except it's the first silver version. Hopefully they'll be more after this year.


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It's a pretty cool idea but these coins will be overpriced for what they are and I doubt with a mintage that high anyone buying from the authorized distributor is ever going to recoup that premium when selling. Imo if you must have one for your collection fine but I wouldn't consider these more than extra expensive bullion.

 

"gimmick"

 

So far it all looks pretty upfront to me. Perhaps you could shepherd me into the light by explaining exactly what makes it a "gimmick?"

 

You don't find it odd how in this very thread representatives from MCM came along and just happened to post. I wouldn't be surprised if they worked together with the mint planning for this coin to even be made. Although that's business and there's nothing inherently wrong with that. But like many other 'unique' offerings from MCM and other sellers anyone expecting to buy this coin at the inflated price it will be offered at and ever expect to have the premium their paying recouped is foolish. With a million mintage this coin is expensive bullion no matter how hard they market it as being a 'highly' collectible numismatic offering. If you want one for collection because you like the coin certainly buy the coin. But I hope no ones buying one of these thinking they'll be able to increase that initial investment and we often have a lot of newer members and lurkers who may not know any better and fall for the marketing gimmick.

 

How can you say it's expensive when prices haven't been announced? Do I think the coin will cost around spot price? No. I'm waiting to see how much the cost will be & then make my decision. Labeling the coin as a gimmick is a bit premature in my opinion.


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Go take a look at any of MCM's 'unique' offerings and notice the premiums. Again anyone who falls for the marketing gimmick on this coin isn't likely ever going to recoup that premium but if you like the coin and want it for your collection then by all means get one.

 

It doesn't matter what they charge. If you don't like the product, the mintage, or price you know where the door is. A gimmick, to me, is trickery or deception. I have not seen it.

 

1) Personally, I think it will be highly collectible. The gold Krugerrand IMO, is an icon. The silver Krugerrand commemmorates it.

2) It won't be known if a one million mintage is too much until the popularity or lack of it becomes obvious.

3) As for "newer members and lurkers who may not know any better," sorry but altruism is not really my strong point. But not to worry. There is clearly a huge over-hang of it in the bullion room.

I'll stick with Hewitt:
"There is no Santa Claus in Numismatics" Lee F. Hewitt

And I'll probably get a silver KR.

 

i predict finding these in the melt bucket

 

They are already up for sale on the SAM website R600.00 or $42.40 in USD. Three times the price of spot? I think they have lost touch with reality. I cant think of any current production silver coin in the same category that is anywhere near that price.

 

I hope they don't cost that much when the coins are offered in the US


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Personally, I wont go above $4-5 over spot. There are much better deals to be had. If it ends up being those crazy over inflated prices they will loose a lot of potential buyers. There is also someone pre-selling these on EBay for $95 each.

 

I assumed that because these are "boutique" bullion coins, I got that term from Coin World, that there would be a premium over spot. If it's at $40 plus per coin I'll probably pass on it [emoji22]


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I believe they're targeting the similarly-priced Uncirculated "collector-version" ASE: http://catalog.usmint.gov/american-...rculated-coin-16EG.html?cgid=product-schedule

That is, it's not a bullion coin: https://www.cointalk.com/threads/2017-silver-krugerrand.285264/page-3#post-2569795

 

I'm torn lol i may end up buying it since I've bought the enhanced uncirculated ASE


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Since it's not a bullion coin, maybe this thread belongs in the "World Coins" forum.

Mods?