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Old 07-21-2013, 09:30 PM   #1 (permalink)
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Default Silver 1 oz Dragon Fly Bullion

Hi New to the whole silver buying and had a question for anyone that can help. So today I went to a show and bought some silver eagles but the seller had a silver bullion called the dragon fly. This one was different as on the dragon fly there is a red ruby on the eye and queen Elizabeth on the back. Is this real or a rare coin. Also do they sell really well. Thanxs for any help.
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Old 07-21-2013, 09:41 PM   #2 (permalink)
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Is it this one?
APMEX | Tokelau 2012 Proof Silver $5 Dragonfly | APMEX.com
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Old 07-21-2013, 11:02 PM   #3 (permalink)
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Yes thanxs iron couldn't find much info on it. Guy had it for 119 glad I asked first.
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Old 07-22-2013, 09:43 AM   #4 (permalink)
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And that coin is not silver bullion. Silver bullion is ASE's, maple leaf's, silver bars and rounds, that sell for spot or near spot. This is a 'collectible" this is just junk, that will be only worth spot in a few years. Stay away from all of tthis junk, if you are investing in silver for Silver value. Stick to ASE's or smaller bars. Premiums should be in $2-3 per oz range, if you are paying more than, don't buy it.
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Old 07-22-2013, 09:48 AM   #5 (permalink)
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Originally Posted by twoten01 View Post
And that coin is not silver bullion. Silver bullion is ASE's, maple leaf's, silver bars and rounds, that sell for spot or near spot. This is a 'collectible" this is just junk, that will be only worth spot in a few years. Stay away from all of tthis junk, if you are investing in silver for Silver value. Stick to ASE's or smaller bars. Premiums should be in $2-3 per oz range, if you are paying more than, don't buy it.
Does the Canadian $20 for 20 coins fall in this category of junk to stay away from? or worth investing ?

sorry, not trying to hijack thread
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Old 07-22-2013, 09:58 AM   #6 (permalink)
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Does the Canadian $20 for 20 coins fall in this category of junk to stay away from? or worth investing ?

sorry, not trying to hijack thread
The $20 for $20 coins are mass produced and have a quarter of an ounce of silver...therefore if you're looking at "investing" - neither the silver quantity nor rarity is a solid investment.

That said, they'll always be worth $20 in Canada...whatever $20 Canadian becomes.
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Old 07-22-2013, 02:01 PM   #7 (permalink)
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I am a coin collector. I do it as a hobby. Twoten called colletable silver coins junk in his earlier post. I wouldnt call them junk. Infact the collectability side silver coins is much more profitable than buying/selling silver in general.

There are 2 types of people in this industry. There are silver buy/investor/sellers and there are silver/gold/coin collectors. You can be both, one or the other.
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Old 07-22-2013, 02:28 PM   #8 (permalink)
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I am a coin collector. I do it as a hobby. Twoten called colletable silver coins junk in his earlier post. I wouldnt call them junk. Infact the collectability side silver coins is much more profitable than buying/selling silver in general.

There are 2 types of people in this industry. There are silver buy/investor/sellers and there are silver/gold/coin collectors. You can be both, one or the other.
I didn't say all collectiable coins were junk, just these type of "manufacutred rarities" are. I have plenty of PCGS and NGC coins graded, but I am talking 1909 S-VDB, 1955 Double Die, not a coin like this.

And true, you can be both. I buy a lot of bullion, but I also buy numismatic coins as well. But this type of coin, does not fall under either category
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Old 07-22-2013, 02:51 PM   #9 (permalink)
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I didn't say all collectiable coins were junk, just these type of "manufacutred rarities" are. I have plenty of PCGS and NGC coins graded, but I am talking 1909 S-VDB, 1955 Double Die, not a coin like this.

And true, you can be both. I buy a lot of bullion, but I also buy numismatic coins as well. But this type of coin, does not fall under either category
It falls under collectable. The demand found in these coins is found in the hobby of collecting them. The pure purpose of collecting is to achieve a sense of achievement. One found in fulfilling a goal set, not in making a profit.

Heres a better question for you...

1oz of Silver bought at $20/oz.
1 $20 for $20 coin bought at $20/coin.

Silver market value sits at $4/oz. How much is either worth once sold and netted? Infact if silver falls anything less than $20/oz how much is either bring back net once sold off?
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Old 07-22-2013, 03:10 PM   #10 (permalink)
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Quote:
Originally Posted by Orangejello727 View Post
It falls under collectable. The demand found in these coins is found in the hobby of collecting them. The pure purpose of collecting is to achieve a sense of achievement. One found in fulfilling a goal set, not in making a profit.

Heres a better question for you...

1oz of Silver bought at $20/oz.
1 $20 for $20 coin bought at $20/coin.

Silver market value sits at $4/oz. How much is either worth once sold and netted? Infact if silver falls anything less than $20/oz how much is either bring back net once sold off?

If I understand your question correctly then:

The 1oz of silver is now worth $4 so a net of -$16 based on your assumptions
The $20 coin (if we are using the canadian coin mentioned above as an example) is worth $1 or a net of -$19 (unless you go up to Canada to spend it or find someone to buy it locally/online)

I'd still rather have an oz of silver than a 1/4 oz of silver all things considered
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Old 07-22-2013, 04:16 PM   #11 (permalink)
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Quote:
Originally Posted by Orangejello727 View Post
It falls under collectable. The demand found in these coins is found in the hobby of collecting them. The pure purpose of collecting is to achieve a sense of achievement. One found in fulfilling a goal set, not in making a profit.

Heres a better question for you...

1oz of Silver bought at $20/oz.
1 $20 for $20 coin bought at $20/coin.

Silver market value sits at $4/oz. How much is either worth once sold and netted? Infact if silver falls anything less than $20/oz how much is either bring back net once sold off?
I was talking about the $20 for $20 coins. I was talking about the coin in the OP.
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Old 07-22-2013, 06:24 PM   #12 (permalink)
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sorry, thought you were referencing the 20 for 20 coin.
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Old 07-23-2013, 12:38 AM   #13 (permalink)
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Thanxs guys for all the info. I want to actually invest but at the same time pick up a few coins that I like cuz they are appealing to the eye. Just glad I didn't pay double what I could have gotten one for online.
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