Monday, September 5, 2011

Lunar Dragon Rush and New Site Partner

Dozens of people lined up at the front gates before they open, some who’d been waiting since early hours of the morning.

Website crashing & stalling as hundreds (thousands?) tried to get their orders placed.

Phones queues up to an hour long as interstate and out of town customers try and place an order.

What’s all the commotion? Did Justin Bieber tickets just go onsale for an Australian tour? Nope. This was the scene that the Perth Mint faced as they struggled under the load of investors & speculators rushing to get their piece of the new Dragon coin mintage.

Regular readers would be aware that I have been covering the release of this coin for some months leading up to it going on sale last Thursday. Here are some links to the previous coverage:

Perth Mint Lunar Dragon Coin Designs

When I initially covered the coin back in June I suggested that it could be bought for bullion price and then stored with the potential for numismatic value to be added in time… well it certainly didn’t take long and the Dragon coins (especially the Silver variety) have already been reselling for a huge premium. Plenty of the 1oz Silver variety are being sold on eBay and foreign dealer sites for around $80 to 100 and several sales on the forum Silver Stackers have gone through for similar amounts (including sales at $100).

Let me make it clear that when recommending these coins I only think that buyers should make large purchases if they can do so at a low premium (e.g. at Perth Mint prices for the coin or lower). I think $100 per coin is far too much to be paying at this early stage. I think that premiums will settle in the short term to a level lower than the heights they’ve been to over the last several days.

I would also like to take this opportunity to introduce a bullion dealer who I will be partnering with going forward.

Bullion Money, is a trusted online dealer who operates out of Sydney. Prices are kept low by avoiding overhead fees associated with running a retail store or selling via eBay. You will note that their prices are much lower than directly through the Perth Mint. Along with great prices they offer personalised service. Bullion Money offer their products and services to both Australian and International clients.

Purchases that are made through links off Bullion Baron provide me with a small commission from the sale. It’s at no added expense to you and rather comes out of the already slim margins being made by Bullion Money.

They are currently offering the following Lunar Dragon coins at great prices:

10oz Silver Dragon Coins
1kg Silver Dragon Coins
1/10oz Gold Dragon Coins

While the above coins aren't mintage limited they still sport a brilliant design and it's hard to go past those prices.


Buy 2012 Perth Mint Lunar Dragon Coins at Bullion Money.

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