Monday, October 28, 2013

Fall in popularity of the Perth Mint Silver Lunar Series?

The Horse Typeset is my first ever typeset that I've owned. What should have been a joy to be one of the 1,500 people to the Typeset, turned out to be an intriguing buy. Perth Mint chose to stagger their release of the popular and limited edition lunar coins. It was found to be still available many days after I locked in my order on launch day makes me wonder if the Perth Mint Typeset is still popular. After-all, the once very popular Dragon Typeset was sold on ebay near launch price on 16 Oct 2013 albeit the box was a little wrinkled but no damage to the coins. In addition, there are still many Snake Typeset looking for owners in the secondary market.

There were many collectors as well as naysayers felt that Perth Mint shot themselves in the foot by over producing many varieties of the Dragon. Perth Mint further incurred the wrath of 2 Oz Proof coin collectors by suddenly issuing set of 6 Lunar Animal from 2008 - 2013 all at the same time, hence breached the term 'Maximum Mintage' in doing so.

Having said that, we have to bear in mind the series is just half complete. What is the significance in this? When I first started buying first Series of the Lunar coins, I was paying less than S$40 per oz for the Dragon coin when spot was hovering around US$17.50 - 21 and it was the same for the other animals in the series. As I write, silver spot is around US$22.50 and the price of the second Series Lunar coins range between S$45 - 66, which is thereabout.

While it is too early to say that prices would definitely soar in 2019 - year of pig, I still see upside to current prices though US$100 for the Dragon is quite impossible to hit unless silver spot breaks the US$50 mark.

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