I think this coin needs its own thread. They appear on the ebay now for close to $300. is that a bubble that is going to burst or just keep climbing higher? Is that going to be one of those coins that is going to be missing from most collections?
(http://i457.photobucket.com/albums/qq296/hannu2009/1%20ANZAC%20poppy_zpsytmjsqxs.jpg) (http://s457.photobucket.com/user/hannu2009/media/1%20ANZAC%20poppy_zpsytmjsqxs.jpg.html)
Unless I happen to find one in circulation, it's definitely going to be missing from my collection. The same goes for anything that even remotely seems like Grannybait from now on.
I'll have none of it, and will not even be looking for it. I do have some older GB, but will be taking steps to divest myself of it.
Has sold for mid $200's but hopefully will stay up there.We were discussing this coin on
a previous thread
http://www.australian-coins.net/showthread.php?tid=3688
Quote from: 'Nevol' pid='71684' dateline='1430694697'Unless I happen to find one in circulation, it's definitely going to be missing from my collection. The same goes for anything that even remotely seems like Grannybait from now on.
I'll have none of it, and will not even be looking for it. I do have some older GB, but will be taking steps to divest myself of it.
Ditto, at the cost of $250 that coin is not going to be in my collection either. It sounds too much of a risky investment than the enjoyment of collecting coins.
True, see how much they go for in a few months when the trend dies down, I found the same thing with trading cards, three months after release the bum falls out of them as the new sets are released.
I am a $1 collector this one is special 13500 mintage
That new coloured $2 is nothing special 1.5 million mintage
Opportunists are cleaning up on these with unrealistic secondary market prices,us collectors feel duped RAM didn't offer these to us
Downies had them for a couple of days at $40
13,500 isn't a particularly low mintage. The only thing that will support the high price of this issue long term is if there are lot of people who bought them for high prices in the early stages of their release who are not willing to sell them at a loss. However, there's a lot of people who got them and didn't pay much as it looks like Downies has an issue and a lot of people got them through their newspaper subscription. I wouldn't expect them to do any better than any other dollar coin release in coming years. Even supposed dollar coin "winners" like the VC dollar have not really appreciated in value for more than a decade.
I have spoken to many people and through conversation have advised me that they are chasing this very coin and they just can't secure the coin no matter how hard they try.
I can't agree with your comment markn that this coin will not hold it's high price that are up for sale at present.
If demand stays as it is and I can't see any reason that it will decrease, then the price/value will certainly increase.
However, neither I or you can prove what we say so only time will tell.
I believe that the value of this coin will only increase.
Quote from: 'Goldseeker' pid='71801' dateline='1430784291'I have spoken to many people and through conversation have advised me that they are chasing this very coin and they just can't secure the coin no matter how hard they try.
I can't agree with your comment markn that this coin will not hold it's high price that are up for sale at present.
If demand stays as it is and I can't see any reason that it will decrease, then the price/value will certainly increase.
However, neither I or you can prove what we say so only time will tell.
I believe that the value of this coin will only increase.
The price has already dropped from several hundred dollars to under $200 in just a week or two. I see several available in Facebook groups for $150 going unsold. I like my theory much better than yours.
Like everything in trading the price is determined by demand vs supply, even if the mintage compared to other coins is much higher, there seems to be many more people buying them. Nevertheless, the price has peaked and is coming down but how lo, is to be seen. Downies is trying to secure more mints to supply the demand. I would expect the Mint to respond and mint another lot and sell them at good profit, they want their cut too. i think this was not carefully planned by them, they have not benefited at all because they did not sell them. Can you imagine mint directors sitting in the board room looking at the sales figures of $200 for a single $1 coin. Someone is going to get kicked in the a***.
Don't forget that a significant number of these will never make it to market as the were obtained by non collectors who will but them in a cupboard and never look at them again so the 13k mintage is not as relevant as how difficult it was to hoard these. You couldn't buy a box full of them so it is harder to sell the one you have if you are a collector
Personally I am going to wait till I find one either in circulation or at a garage sale
Quote from: 'serial' pid='71831' dateline='1430817717'Don't forget that a significant number of these will never make it to market as the were obtained by non collectors who will but them in a cupboard and never look at them again so the 13k mintage is not as relevant as how difficult it was to hoard these. You couldn't buy a box full of them so it is harder to sell the one you have if you are a collector
Personally I am going to wait till I find one either in circulation or at a garage sale
And in 10 or 20 years when they all hit the market they'll all sell for nothing. If you didn't buy these for close to issue price or at Downies price then I doubt these will ever be a good 'investment'.
I would say certainly not a good investment at $200
Collecting numismatics is my passion and hobby
I don't even consider it as an investment moneywise it's simply something I enjoy
Profiteering is the reason people are now interested in coins,look at eBay for proof with the new issues like these and the Anzac $2
It's unfortunate at times genuine collectors miss out paying issue price yet opportunists get items at face value and list just for profit
That's life hey