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Never jumped into PM but.....are the 1 Kilo coins too pricey?

kryptonitecomicskryptonitecomics Posts: 9,185 ✭
in Precious Metals
If I bought today I could get a 1 Kilo for around $640 which I know is well above spot...say around $20 an ounce vis spot of $16.13 but I noticed all coin silver and even the silver bars right now have some premiums above spot. Would it be a mistake to buy a 2010 1 Kilo Koala for $640....part of me just wants one becuase I saw one at a show over the weekend and though it was pretty cool....but I can afford to hold it if folks think silver prices will rise image


All tips, opinions etc are welcome image
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Comments

  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Sometimes buy what you like, not what it might cost. In the long run the small premium might not mean a thing when silver goes up and you get a nice profit. Buy what you like image

    The kilo koala is beautiful image
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  • illini420illini420 Posts: 11,466 ✭✭✭✭✭
    not sure what the premiums are on the koala coin, but if I could find a 1 kilo 2009 Libertad for around that price I'd buy it immediately. Premiums on the big silver coins get sort of crazy, but they are cool!!

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • kryptonitecomicskryptonitecomics Posts: 9,185 ✭
    The cheapest I found online was $590+22 bucks shipping if you use a bank wire transfer with Gainesville coins so I am not far off that price with my bing, ebay bucks, fress shipping etc.....besides...I did want one regardless of the potential investment factor image


    So I made the plunge and bought one.....I think I am going to like it and may consider others down the road when I have some more disposable income......I can afford the $640 now and not have to worry about selling unless I want too. image
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    From my experience buying toned GSA's. I'd say down side of a kilo of silver less risky!image
    Avid collector of GSA's.
  • kryptonitecomicskryptonitecomics Posts: 9,185 ✭
    As a fellow toned coin collector I agree....when the bottom dropped out of the toned coin market several years ago....a lot of the coins I purchased for stiff premiums from toned coin specialist sold for a fraction of what I paid....but I loved the coins and I did not buy them for investment purposes....much the same as this kilo coin. If I make a buck down the road well that's great but I have never been a good speculator so I have to buy what I like.

    Speaking of which.....now that I bought silver I would recomend every unloading theirs....I have caused companies to go out of business buying their stock so I am afraid I might have the same affect on precious metals....better get out while you can image
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  • 1jester1jester Posts: 8,637 ✭✭✭
    It might be hard to find buyers of kilo silver coins when the spot price jumps to $100/oz or $1000/oz. But I don't necessarily recommend against buying kilo coins and bars; heck, I'm pretty guilty of it myself.

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  • illini420illini420 Posts: 11,466 ✭✭✭✭✭


    << <i>It might be hard to find buyers of kilo silver coins when the spot price jumps to $100/oz or $1000/oz. But I don't necessarily recommend against buying kilo coins and bars; heck, I'm pretty guilty of it myself.

    imageimageimage >>



    haha, if spot prices go up to $1000/oz and no one can afford to buy it, i'll carve up that kilo coin like a cheap pizza and sell it off by the slice!!!!

    Michael Kittle Rare Coins --- 1908-S Indian Head Cent Grading Set --- No. 1 1909 Mint Set --- Kittlecoins on Facebook --- Long Beach Table 448

  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    I got a 10oz Koala for xmas because I wanted one. The premiums are all over. If you can afford the time to shop and get a confirmed good deal jump on it. I think in mine I'm sitting about $3/oz over spot. Not bad, but not cheap...and the retailers are tight for the most part.

    I'd love to add a kilo btw, maybe this year if we hit 13-14 I'll hit it.
  • kryptonitecomicskryptonitecomics Posts: 9,185 ✭
    I am sure I am not alone in saying this but I remember buying 1 oz bars for $4 bucks all day long and I even remember buying a 10 oz bar and selling it for $70 dollars......none of my silver reserves made it past that $7 an ounch mark image

    I saw another kilo coin with a tiger on it that was a bit cheaper then the Koala but I know of the Koala's and other bullion coins and I am not familiar with the one with the tiger so I just paid the extra $20
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    I like the Tiger! I want a 2oz gold Tiger. image
    Avid collector of GSA's.
  • kryptonitecomicskryptonitecomics Posts: 9,185 ✭
    Dang that got here quick.....I like it.....make a great door stop image


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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    Nice Koala bear but that life size Q. E. II = spooky
    Avid collector of GSA's.
  • BigEBigE Posts: 6,949 ✭✭✭
    Impressive, has to take some time to make one, imagine one tiny piece of lint and into the smelter it must go again! ---------BigE
    I'm glad I am a Tree
  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Nice Koala. Now I want one to go with my 2009 10oz. What's the size on it seem like in person?
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