« Last post by silberschatzimsee on Today at 01:22:12 PM »
Ty for the information. I am not planing to grade my little bar in the near future so i can wait and see what happens. Currently staying omp is better for this item imho.
The price of the pf70 lunar clorized silver ox has dropped.
I was out buying some mixing equipment for a factory I am consulting with and swung by the BOC (Bank of China today) after they called and said could get a couple sets of the 2016 lunar coins for me.
These things are pricey over here in China (due to the low mintage) and very hard to get over here because everyone wants them (high domestic Chinese demand and low mintage for some of the coins). They could not get any of the 5 ounce gold rectangles because they only minted a few thousand, or flowers etc. for me. The factional ounce rounds are unavaliable too at the bank even though are much higher mintage because they are cheap, and everyone is trying to get them (and did). heh.
The sweet spot was the fans.....I was able to get two sets of the fans. Each set has one of the 1/3 oz gold fans and one of the 1 oz silver fans. Apparently that was the sweet spot between mintage amount and price
These sets are going for an extreme premium over melt value (6288 rmb per set) which is about $984.24 (US dollars ) each. Wow that's about 3 x melt value. Holy crap batman!
I may have more money than common sense and not be a very good Chinese coin collector since I'm a relative novice at this but based on my recent experience with the WWII 70th anniversary commemorative set this year (ordered a 1/4 oz gold and a 1 oz silver coin for 3800 rmb and was told by someone on this forum they now are going for 8000 rmb a few months later) I bit the bullet and ordered 2 sets of the 2016 monkey fans. They could only find 2 sets for me so I ordered them both. Am I an idiot for doing that? heh.
They will arrive next month. I will post some photos when they come dancing into the bank.
I'm going to be weighed down and clanking going through US customs next year with these 2 monkey sets, the WWII set and the two 5 coin gold panda sets.
US customs gave me a good close look and going over last year with the gold panda sets and silver pandas and cash
Which begs the question...How do you declare the value of Chinese gold coins at US customs? Unlike gold bullion (which is not considered a monetary instrument) gold coins count toward the 10K USD threshold for filling out the FINCIN 105 form which I never fill out because it's no ones business but mine, so I stay below 10K USD so it doesn't get confiscated by Mr. grabby hands McCustoms guy.
Now, does one declare what you paid for the coin? (I did that last year and had receipts to verify it).....
Or do you declare the melt value of the metal........(I like that better).
Or do you declare the RMB value marked on the coin (I like that option the best if it's allowed).
Some of my Chinese friends have told me that the Lunar Clorized Ox has doubled in value in the local Chinese market during the past month
I would like to get $220,000.