Perth Mint 1oz Silver Kookaburra Coins at $4.29 over Spot (100+)

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Bullion List

• 

  ilostnemo on 02/12/2013 - 13:09

  +2

  $4.29 over sounds so much better than 25% over

  • 

    Store RepJoey Bullion List @ Bullion List on 02/12/2013 - 13:16

    +1

    That must be why the Perth Mint doesn't say "65% over spot" on their website :)

    $4.29 represents all the transport, manufacturing (to world-class standard), packaging and a tiny bit of profit for the Perth Mint and for us.

    We have very low premium bars available as well, but they weigh 15kg-30kg.

    • 

      cloudy on 02/12/2013 - 14:38

      +1

      Don't worry Rep, in ozbargain land, we tend to like to buy stuff for free so the business makes no profit.

      Every deal that has reached 200+ votes have this common characteristic.

• 

  fertiliser on 02/12/2013 - 13:11

  +2

  what is a spot

  • 

    CarbonTwelve on 02/12/2013 - 13:20

    +2

    It's referencing the spot (current) price of silver (per ounce).

  • 

    Store RepJoey Bullion List @ Bullion List on 02/12/2013 - 13:22

    +2

    "Spot" is the base value of the metal and it changes every second in line with the international commodities markets.

    Our industry works on a "spot plus premium" basis, where the premium is (generally) a fixed dollar amount that represents all the work that has to go into transforming a giant, industrial sized metal bar and turning it into a bunch of smaller sized bars or coins that retail investors can afford.

• 

  CarbonTwelve on 02/12/2013 - 13:21

  +3

  I think the title should be changed to the 1-19 price ($5.29 over spot), given that's what the majority of people looking at the bargain would be considering.

  • 

    Store RepJoey Bullion List @ Bullion List on 02/12/2013 - 13:27

    We (the bullion industry) generally work backwards from the lowest price. We've sold several hundred ounce lots in the last 10 minutes, so the lowest price is definitely important to some people.

    • 

      CarbonTwelve on 02/12/2013 - 15:16

      +2

      What the bullion industry does and what matters on OzBargain aren't necessarily the same thing.

      • 

        Store RepJoey Bullion List @ Bullion List on 02/12/2013 - 15:40

        That's fair enough, but there wasn't enough room in the title to list all our volume breaks and we don't know who you are or how much you have to spend either.

        There are a (surprising) number of people out there who'll buy 500+ ounces if they see a high quality product at a low premium and they think the metal price is undervalued, so we quote the lowest price we can sell for and let people decide if the conditions (such as volume breaks) are agreeable to them.

• 

  wolffram on 02/12/2013 - 14:05

  +1

  Bought, thanks.
  Couldn't resist the greedy Banker Pig, bought that one too ;)

• 

  RickyNelson on 02/12/2013 - 15:11

  -1

  The cheapest is $27 for 1 ounce.
  How come it's 4.29 in title?

  • 

    CarbonTwelve on 02/12/2013 - 15:15

    "$4.29 over spot" is what's in the title. See above if you don't know what that means.

• 

  venomx2 on 02/12/2013 - 15:14

  +1

  shipping costs?

  • 

    Store RepJoey Bullion List @ Bullion List on 02/12/2013 - 15:47

    Shipping costs are calculated automatically at checkout, and depends on the weight and value of your order if you want insurance (insurance is highly recommended).

• 

  frewer on 02/12/2013 - 15:47

  +1

  Definitely a bargain, here are the list of prices from other sites which take from Perth mint coin distributors.

  In Perth:
  perthbullion 100+ @$26.95 each.

  In Vic:
  goldstackers 500 @26.65 each.
  goldbullionaustralia 100 @29.13 each.
  guardian-gold 100 @30.90 each.

  In NSW:
  bullionmoney 100 @26.90 each.
  bullionmark 300 @26.16 each and 100 @26.50 each.
  bullionclub 100 @$28.60 each.
  goldbullionaustralia 100 @$29.1503 each.
  kjc-gold-silver-bullion 100 to 299 $26.98 ea.

  Other sites are not list due to bad/no search engine and "dodgy" looks. Happy silvering.

• 

  Bargain4U on 02/12/2013 - 16:10

  It's still not clear to me why I would want to buy this?

  • 

    CarbonTwelve on 02/12/2013 - 16:37

    +1

    Some people like collecting coins, plus being made of silver it will always be valuable. In theory you're only paying $4-5 for the coin as the silver content is worth ~$21.

    • 

      ilostnemo on 02/12/2013 - 16:49

      +2

      Just remember that when you sell the price will be lower than the spot price.

      As one off purchases as gifts, then this is a great deal.

      For investing then you are far better buying a 100 oz bullion bar instead of 100 coins.

      • 

        Bullion Baron on 02/12/2013 - 19:55

        +1

        "Just remember that when you sell the price will be lower than the spot price."

        Depends on where you sell. Many private transactions occur on Silver Stackers, for prices just a little below that of dealers, but still well above spot (for something like a 1oz Kookaburra):

        http://forums.silverstackers.com/forum-33-australia-new-zeal…

      • 

        CarbonTwelve on 03/12/2013 - 11:43

        ilostnemo: Yep, I agree about buying 100 oz bar rather than 100 coins, which is why I think the title should've been changed.