Discussion in 'Coin Chat' started by dctjr80, Nov 10, 2010.
1oz Silver eBay Auction with 4 bids!
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someone thought it read "gold"? its a nice coin, but....
4 people could not have missed that it is silver ROTFL
i dunno then....is it that rare of a coin? im not the expert. maybe someone who is will comment.(hopefully)
idk...I don't mean to offend anyone who collects these kinds of coins...
but why??? even if the mintage is low...IMO I'd rather buy 2 rolls of
ASE's for that kind of price with $$ leftover to buy whatever I need....
Looking around eBay and a few retail sites, $1000 - $1500 seems to be the going rate. Only 5000 pieces produced. Who'da thunk it? Good for those Tuvaluans.
most of their coins are low mintage, I just do not get this ridiculous price for a current bullion coin?
Ok, I did a little research at the Perth Mint and it is the 1st of the Deadly and Dangerous animals serious, which are a low mintage, colorized set. But, Ummm, they still are not made of gold. The newest one out the octopus is selling for like $75 from the Perth Mint, so we better buy them up before they are $1000
IMO ASE's have the same problem, just not to that degree.
ASE's are bullion coins and to pay more than a couple bucks over spot is wrong.
Unless of course you are confident silver spot will continue upward.
But to each his own.
I guess it's a matter of people collecting what they like. The last coin in the series, the Eastern Brown Snake sold out almost immediately. These coins should be worth even more as time goes by. You just never know.
I would guess that they will tank after one generation... LOL
To future generations they will just be one of thousands of buy our low minted, painted bullion for way too much!!! IMHO
The Perth Mint makes so many different series with low mintages that it is hard to tell which ones will be worth anything in the future. The Perth Mint even made a Transformers Series which includes Optimus and Megatron........ LOL.
These coins are now selling on ebay for asking prices of up to $1999! There was an article in the February, 2013 issue of CoinWorld about modern world coins. This coin, for whatever reason, has appreciated more than just about any other new issue of the past decade. I happened to have bought one of these when it was first issued. I also bought the next one in the Deadly and Dangerous series (the Great White Shark). That one is selling for 2-3X its issue price, but nothing like the 2006 redback spider coin.
OK I want 20 K for this baby-:grandpa::grandpa:
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It's like anything else. Even though you might not understand or "get" why people pay for some coins/medals it's all about what people like.
Personally - I see the prices people pay for "real" coins that aren't buillon and I still shake my head and think they must be crazy or insanely rich. Supply and demand - its the same for every collectible, whether it's coins, buillon, star wars figures or glass insulators.
All it does is make me wish I had a few to unload.
Just an Fyi the redback spider is what got speculators to start grabbing silver NCLT hoping to get the next big thing and flip it for $$$ and started the whole craze. I know couple who do this regularly and make more than most people take home salary. They claim they are stackers but
That looks rare... but it's actually not, considering the demand for these is pretty low, and Tuvalu/Niue/New Zealand/etc. produce a large number of different coins, but a small number of each individual coin, meaning the rarity is completely artificial. Just because people often ask these prices doesn't mean you'll ever get anything close to that amount of money back, unless silver hits $1000 an ounce. There's a pretty big fad going on such things atm by speculators thinking these will be super valauble some day... but I can guarantee you this won't be sustainable in the long run. I own several Marshall Islands coins with low mintages that cost me $5 20+ years ago. They're all still worth $5, which means adjusting for inflation their value actually went DOWN lol...
It's just a scam, don't fall for it.
I think these are the beanie babies of the silver coin world. They are selling right now for $1000, but in a couple of years they will sell for whatever the melt value is.
Glad to see I'm not the only pessimist (though I like to think I'm a realist) here lol...
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