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The world's biggest coin

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I saw a coin on BOB yesterday from Ewaan Galleries that was also 1kg gold for a Mil.

Insane!!!:embarrest:

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Metal value or a collectable?

 

Well at today's prices a kilo coin (gold value*) is worth about R450,000

*When you get up to these heights it has to be a unique or sought after numismatic item to be worth a dime more... but not sure what the seller is selling.

 

Kind regards

 

Scott Balson

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I know you are watching Ewaan.. you are online on the forum and have been since I started this thread.

 

Awaiting your challenge to my suggestion that your price is a mark up of over 100% on the real value of a piece of gold bullion marked as a medallion...

And I am speaking for buyers who need to know what they are buying.... this is in the best interests of BoB.

 

Don't let me start a new thread under coins with a tiny grammatical change...

 

Kind regards

 

Scott Balson

Edited by ndoa18
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Oh did you mean this?

 

Gold & Bullion Coins - Look @@@ 1kg Pure Gold Medallion - Celebrating 40 Golden Years of the Krugerrand @@@ for sale in Johannesburg (ID:49047080)

 

True value? Gold price.. ie about R450,000 ... willing to answer any challenges.. :))

 

That's what separates a coin dealer from a numismatist.. research!!

 

Kind regards

 

Scott Balson

 

Yip, that's it, big boy huh?

I wonder if i can fit it in my wallet, willing to swap it for a 1ton Gumball!:awesome:

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Just minted by the Perth Mint.. a unique ONE TONNE GOLD coin...

 

More (including a video on how it was made here): 1 Tonne Gold Kangaroo Coin | The Perth Mint

 

Kind regards

 

Scott Balson

 

Thats like R450 mil!!!? Give or take a mill.:biggrin:

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Hi Scott

 

If you can supply us one of these 1kg medallions we (as dealers so you claim) are willing to pay you R650 000 for it..... That is R200 000 over bullion price. Must be this exact one with a mintage of 40 Only.

 

Can You Supply? We will pay you in FIAT Money :)

 

Why no comments on the ANC Gold 1kg and Half kg medallions....? Those coins have just been released and are selling for over R1million.

Edited by EWAAN Galleries
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Bring out the popcorn...

 

Aha! Do I smell a duel? Has the gauntlet been thrown? :ninja:

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I always thought it odd that numismatic collectable coins like the Mandela gold coins and coins like the Kruger rand have such vast price differences. A 1 ounce Kruger rand goes for about R12000 to R15000 depending on the gold exchange rate, the same size coin in Mandela can go for nearly twice that, I have personally seen this. That would indicate a false sense of value due to certain sentiment. Collectablility should surely be related to the scarcity of a coin?

I find the whole issue quite confusing.

A large coin as mentioned above should surely not be worth double its intrinsic gold value?

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Lets take a look at a few prices and mintage figures of Mandela 1oz Gold Coins. Gold Value of an ounce today is estimate R14000.

 

1994 Mandela Innauguration 1oz Gold - R24000-00 (Mintage: 1742)

 

2004 10 Year Democracy 1oz Gold - R45000-00 (Mintage: 5000)

 

2004 10 Year Democracy Launch Set (1oz , 1/10thoz and R1 Silver) - R200 000-00 (Mintage: 394)

 

2007 Mandela De Klerk 1oz Gold - R25000-00 (Mintage: 6317)

 

2007 Mandela De Klerk Proof Set (1oz , 2 x 1/10thoz and 2 x R1 Silver)- R40000-00 (Mintage: 4536)

 

As you can see these coins are not rare with such high mintage figures but you probably sell them for these estimate prices on bid or buy.

 

Interesting.......

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Hi Scott

 

Let's now look at something that the SA Mint just released. The SA Mint is currently selling the 2011 SARB Anniversary silver sets for R4500. Total mintage is also 4500. The set consists of 29 grams silver and a proof R5 coin. So that can't be worth more than lets say R800 with all the making costs etc.

 

So a set that has just been released by the mint sell for 5 times of its actual worth. Is the SA Mint overcharging 4500 clients?

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What's a few hundred thousand rand here or there....

 

Hi Scott

 

If you can supply us one of these 1kg medallions we (as dealers so you claim) are willing to pay you R650 000 for it..... That is R200 000 over bullion price. Must be this exact one with a mintage of 40 Only.

 

Can You Supply? We will pay you in FIAT Money :)

 

Why no comments on the ANC Gold 1kg and Half kg medallions....? Those coins have just been released and are selling for over R1million.

 

Just today I got a letter in the mail from the Perth Mint selling silver and gold one ounce medallions at a large markup... on eBay the same coins (earlier years) can be bought at a big discount to this price. Making them one of the worst investments around (if you buy direct from the Perth Mint) or the best if you buy them on eBay because of the silver or gold value (normally about a 30% premium over SPOT or PAPER).

 

My point is this I have bought dozens of silver and gold medallions in recent years for little over the metal value .. they were all sold as collectable and an investment but they are not. In years to come the ANC coins you refer to (like the medallions) will only trade for a slight premium over their metal value. In my view it is ridiculous to try to sell a medallion like this at over twice its gold value. The bigger the coin in weight the smaller the relative premium paid for it...

 

This is always the case and any investor who spent one million rand on that coin you are selling has, in my view, a hole in his head! Apparently there are no investors on BoB inflicted with such a brain lapse as the item went unsold.

 

Oh, and if I had one of the coins (which I don't) I would happily take your money but in gold one ounce Kruger rands to the value of the R650,000 you offer.

 

If there is a challenge here why don't you list the unsold kilo gold coin on BoB for R1 and see what the market decides... that way you will get a buyer and we will see who is right! I bet it won't sell for over R500,000 - half the price you listed it at!!

 

Kind regards

 

Scott Balson

Edited by ndoa18
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Hi

 

We would love to start it at R1. Unfortunately the seller of this kilo has asked for such a reserve to be put on the coin.

 

I am still awaiting your response. Is the SA Mint ripping off 4500 people with the 2011 SARB Silver Set? Is it fair that they making such a large profit?

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Is Wayne making the popcorn?

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Hi Scott

 

Let's now look at something that the SA Mint just released. The SA Mint is currently selling the 2011 SARB Anniversary silver sets for R4500. Total mintage is also 4500. The set consists of 29 grams silver and a proof R5 coin. So that can't be worth more than lets say R800 with all the making costs etc.

 

So a set that has just been released by the mint sell for 5 times of its actual worth. Is the SA Mint overcharging 4500 clients?

 

The mint are selling COINS and not MEDALLIONS... a BIG, BIG difference!! Numismatists and coin collectors collect COINS but they rarely collect MEDALLIONS as an investment.

 

Consider Eli Levine and the proof Kruger rands.. a perfect example of linking "scarcity" by grade to what is, quite simply, a bullion coin / medallion. That money making scheme came crashing down in a big heap...

 

By your own admission this listing: Gold & Bullion Coins - Look @@@ 1kg Pure Gold Medallion - Celebrating 40 Golden Years of the Krugerrand @@@ was listed for R1,000,000.00 on 1 Nov at 14:01 by EWAAN Galleries in Johannesburg (ID:49047080) is a MEDALLION.....

 

Pass the pop corn Janet!!

 

Kind regards

 

Scott Balson

Edited by ndoa18
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Wayne's making the popcorn, Scott. I'm doing the tea!

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Hi

 

 

Please explain how the 100 Pound Banknote replica is a coin?

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???

 

Sorry.. you have completely lost me...

 

You asked me to respond to your post about the price put on the SA mint sets .. I have - see my post above.

 

Kind regards

 

Scott Balson

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Hi Scott

 

Just to correct you The SA Mint sells coins and medallions.

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Please keep things in check here...

 

Thanks

Cuan

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Just minted by the Perth Mint.. a unique ONE TONNE GOLD coin...

 

More (including a video on how it was made here): 1 Tonne Gold Kangaroo Coin | The Perth Mint

 

Kind regards

 

Scott Balson

 

Canada has issued a similar sized "coin" as this one. Both are a gimmick and publicity stunt and do not deserve a second thought as part of a complete collection.

 

As for other coins that are larger than normal circulating size, I consider them gimmicks as well. An example of that would be those issued in the last 20 years in China. Taking a look at the Heritage archives, they sell for substantial premiums to their bullion content and are "rare" but I do not believe they deserve those prices at all and the same applies to any others like them.

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Is Wayne making the popcorn?

 

Maybe I should start selling 'Ringside seats" on BoB - will do much better than the R1's I have been getting on my items of late. lol

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