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Silver Krugerrand will be released Monday, March 13th....yawn

carew4mecarew4me Posts: 3,471 ✭✭✭✭
edited March 10, 2017 8:53AM in Precious Metals

was excited. not now. $$$$$$$$

APMEX move the pre-sale price of the Proof from $169-$300+ during the 5 hour run it was listed on their site.

MCM says 3/13 for BU but won't list the price while pushing special slabs etc ... Yuck.


Loves me some shiny!

Comments

  • DrBusterDrBuster Posts: 5,379 ✭✭✭✭✭

    $300 for the proof? Are you kidding? I thought the BU around $50 or 60 or whatever it was is entirely too high as well.

  • OPAOPA Posts: 17,121 ✭✭✭✭✭
    edited March 10, 2017 9:50AM

    With a mintage of 1 million for the unc ...good luck getting them sold at that price.

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • jmski52jmski52 Posts: 22,850 ✭✭✭✭✭

    I called MCM today to tell them not to send coin solicitations to my mailbox. The rest of the conversation centered around the silver Kruggerand that they wanted to sell me for $269 or such, with the warning that these are going to be on ebay shortly for over $300. I tried to make him understand that there's no way in creation that I'm paying that kind of premium but he kept trying to sell me. Kinda makes me wish John Maben was still running it.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • rickoricko Posts: 98,724 ✭✭✭✭✭

    Those are ridiculous and unacceptable prices.... No way would I pay that - especially in the current market. Cheers, RickO

  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    edited March 11, 2017 10:36AM

    If I can find one for melt, I might buy it.

    I like the idea in theory. But I don't like their approach. Here's why:

    Based on the images I've seen, the silver piece is being called a Krugerrand:

    The Krugerrand is not the company who makes it or the name of the design--it's a denomination. The Krugerrand is supposed to circulate based on the value of an ounce of gold at any given time. The one ounce gold coin is denominated as a "Krugerrand", as opposed to the national South African currency: the South African Rand (or the "ZAR", or the "R").

    This is further evidenced by the fact that the fractional Krugerrands are denominated by their fractional/fungible value. The 1/2 ounce gold coin is called a 1/2 Krugerrand, the 1/10th ounce is called a 1/10th Krugerrand:

    We're all familiar with NCLT and the arbitrary denominations given to them (like $50 for a one ounce gold eagle). But assigning the same denomination to a silver coin as you have to a gold coin of equal size isn't just confusing. It literally devalues the value of the 1 ounce gold coin. It's like calling a silver eagle a $50 SAE to coincide with the $50 AGE. Or more accurately, revaluing the gold eagle at $1 to match the silver eagle.

    Feel free to use the design on silver coins. But they should denominate them differently. For example, "SIlwer" is the Afrikaans word for silver. Call them SIlwerrands.

    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • johnny9434johnny9434 Posts: 28,334 ✭✭✭✭✭

    $169-$300+ i'll pass

  • cohodkcohodk Posts: 19,127 ✭✭✭✭✭

    I'm a buyer at $18. Somebody has to set a bid.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • ADGADG Posts: 438 ✭✭✭

    Yeah. Interested when I first heard about it, but never a buyer with these premiums.

  • bronco2078bronco2078 Posts: 10,225 ✭✭✭✭✭

    So its a deer on one side and some IT guy neckbeard on the other? Meh........ pass

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