The FIRST Silver Krugerrand! The Price is INSANE! | Silver Unboxing

The FIRST Silver Krugerrand! The Price is INSANE!

The FIRST Silver Krugerrand! The Price is INSANE!

If you’ve been waiting to get your hands on the first release of a silver Krugerrand, the wait is over! It’s finally released and the price point is 100% pure INSANITY!
What do you think about the 3.5x premium price point? Do you consider this “Price Gouging” by Modern Coin Mart? What do you think will happen with this silver coin?
The South African mint is only pushing out 1 million of these. Which means, in my opinion that this coin will be on the market for quite a long time.
I wouldn’t be surprised to see them trying to unload these into next year.

I’m curious if you’ve picked one of these up for yourself? Maybe you picked up a whole tube? Comment below and let me know your thoughts on the 2017 Silver Krugerrand’s first release.
I’m not thrilled, I’m not happy. But I had to pick up one. It’s the first time it’s being minted in silver as opposed to the gold it was previously made in. So for that reason and that reason alone I decided to pick one up for the long term game.
Maybe, just maybe in 5-10 years this coin will bring a hefty premium. More than likely, it won’t. Don’t be surprised to see this coin drop in value over the next year.

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49 Responses to The FIRST Silver Krugerrand! The Price is INSANE!

  1. Silver Wolverine says:

    I will wait for the price to come down or not buy it…

  2. Sandreon Machts says:

    In germany you pay 100 € wich is about 106$
    That sucks

  3. Robert Walterman says:

    My thought exactly buy engels and rare jm bars is my focus i just bought some rounds from mcm my last order from them packing was awful

  4. AG Ender says:

    Absolutely crazy.

  5. William Etheridge says:

    After all the hype I am already bored of this coin. I found one of the older ones for $35. That’ll have to do….

  6. MaxShiraz says:

    Agreed. Sixty bucks for a "GEM" that didn’t make SP69 – pass.

  7. MrVegiita says:

    it ain’t going higher, that’s for sure

  8. Maximum Axiom says:

    on belgian site goldsilver.be it is at €18.78 which is about $20.11, but it says they will ship in June. price will come down. do not buy them now!!!
    http://goldsilver.be/en/coins/937-1-oz-silver-krugerrand-2017-anniversary-bu.html#

  9. winston smith says:

    MAYBE …..LATER,,,,

  10. William Cook says:

    You can buy some nice Somali elephants for $20 made with real African silver.

  11. Pheli Mint says:

    It is so pricey, I do wonder if price will come down or if they will stick with the same price.

  12. T H says:

    There’s a sucker born every minute….

  13. My3dviews says:

    It will go up in value when silver hits $60 per oz.

  14. Daniel Bull Runner Lamb says:

    I am not selling my Krugerand anytime soon i am holding on to it for a while….LOL

  15. Paul Maritz says:

    I cannot post on behalf of MCM, but I would like to clarify a couple of things:

    1. All the coins they have listed for sale at the page you show in the video, including the unslabbed one, have a Premium Uncirculated finish and carries a special mintmark. Each is a special edition, collector issue coin – not a purely bullion issue coin. Meaning it is not a coin that you buy if you wish to buy silver close to spot. This coin is the first Silver Krugerrand ever and commemorates the 50th Anniversary of the Krugerrand. It is kind of a big deal in South Africa and elsewhere.

    2. You will currently (03/14/2017) be extremely lucky to pick an unslabbed and ungraded one up in South Africa for less than $113 per coin, excluding shipping. The cheapest ones in South Africa is listed at R600 (+-$45.50) – the issue price, excluding shipping, but is unfortunately out of stock.

    I’ve contacted the SA Mint. They are sitting with a huge backlog driven by an insane demand for these coins. They only expect to have the coins back in stock around the end of March. Chances are almost zero that you will be able to buy it in South Africa for $45.50, excluding shipping + tax, and get it shipped to the States to get to a total of less than $59.95 per coin.

    Please let me know if you can find it cheaper – and more readily available – in South Africa or elsewhere in the world than what MCM has it listed for at the moment (03/14/2017). I would love to hear about it. 🙂

    P.S. Hopefully MCM will respond as well.

    I would like to post an update pertaining to what I’ve posted above…

    "I just got off the phone (03/16/2017) with someone senior at the SA Mint who deals directly with international orders. They do offer discounted prices to dealers that buy in volume. However, he didn’t go into specifics in terms of the level of discounting and understandably so. I mean, let’s be fair, no business on this planet is going to advertise the wholesale prices they pay.

    He made reference to the high cost associated with getting the coins out of South Africa into a foreign market. He mentioned all the cost components that I’ve previously mentioned and more. The cost runs into millions upon millions of dollars.

    He freely admitted that SA Mint products in general sell at higher prices than what are available elsewhere. He explained that SA Mint products are of the highest quality and that the situation is different here in South Africa. E.g. the silver used to make the 2017 Silver Krugerrands had to be sourced from outside South Africa. They had to pay for it in USD. This while the ZAR is not the strongest currency around.

    I’ve asked him about the backlog that they’re experiencing in the 2017 Silver Krugerrands. He said it is primarily on the back of tremendous demand driven by the Krugerrand brand. They expect the coins to sell out quickly. He made it abundantly clear that these are collector issue coins of outstanding quality and that Silver Krugerrands are only going to be issued this year.

    In short: Anyone that’s after silver at the lowest price or close to spot, should not be buying these coins. Period."

  16. Daniel Bull Runner Lamb says:

    I have too many ASE, pandas, kookaburras, maples I needed something different to buy so I bought the Sp 70 First release Krugerrand even if it’s only one.

  17. Jerry Rego says:

    is it worth it.. not for me.. there are a few coins that rival that price at one ounce .. not many though … of course, as always.. the buyer is the final determinant. esp if we get a bout of silver fever…

  18. Brooklyn Silver says:

    I won’t buy it, nice coin an all, but it’s not logical to me.

  19. J. Perot says:

    I love the description, Gem Premium as if that helps justify the insane price. Sorry, pass for now.

  20. Frater ZJ says:

    60 dollars for a new silver coin is insane!

  21. chris elliott says:

    Bumber I got mine for $26.99, psyche, lol. Yeah, too much, but like you said it’s first year mint, so pandas that are like 8-9yrs old are selling for $2-300. So it will definitely be worth more later no doubt. And if you think about it according to the debtclock its actually worth $1,004 an ounce, and if silver spikes like everyone thinks it will increase in value. Im going to wait till near years end, if it hasnt gone down ill probably pick up 2-4 of them, I personally feel it will be worth more later.

  22. hamOn Rye says:

    Yikes $60…. Well time to play the waiting game! Maybe SD bullion will sell it for cheaper…. Prices with them are lower than the big names like Apmex and Scottsdale…. .

  23. Coins A-Z says:

    The Krugerrand has too high of a mintage in my view to justify the price on the raw coin, even if it is alleged to be a semi-numismatic coin. As I see it, it’s noteworthy to do comparisons with other recently released silver products in the market. The product that immediately comes to mind as the best initial release price point on a true collector grade, semi-numismatic item is the 2016 U.S. Mint Amer. Liberty Proof silver medal with a release price of $34.95. The quality of the Amer. Liberty medal is astonishing, and though I won’t be picking up a Krugerrand to compare, my guess is that it can’t touch the Amer. Liberty medal in quality. At somewhere close to half the price of the Krugerrand, it makes the Krugerrand appear to be a poor way to invest one’s money in silver. Sadly for MCM (they offer great service from my experience), they may be biting a big bullet on this coin.

  24. Savvy Customs says:

    Finally pulled the trigger on this coin at a fair price from MCM on Sleezebay. FINALLY another notch off the big board. Only thing left to pick up now is the antiqued Succubus and my silver hunt is over for a while. 🙂

  25. SpockMcoy Issmart says:

    suckers….. and they’ll be lining up to part with their cash.

  26. silver Journey says:

    as much as I like it I can’t pay that much. Especially with the mintage it has. I’ll pick one up when the price comes down or I won’t get one.

  27. Jerry Rego says:

    thanks for the video!!!

  28. wagner1va says:

    Not impressed with the quality at all. Got two today that had blemishes – not even milk spots. Ah no thanks, I will not be keeping them. Its clear the SA Mint is just trying to gouge- which even I don’t have a huge problem with- but for god sakes, at least make sure your QC works. Plus the crappy packaging… looks like the typical New South Africa- sad really, the original creators would be ashamed to be associated with.

  29. Robert Walterman says:

    I will not sell to stupid of a price no one with a brain would pay this premium buying one does what rather buy a nordic creature big coin with vinage of 500 vs 1 million which will do better

  30. I S says:

    Oh ome on, people! 1996 ASE cost over $60 and it was 3 mil mintage. This Silver Krugerrand is AMAZING, it is first one in silver and only 1 million mintage. It is not typical bullion coin like ASE or Maple Leaves. I ordered SP70 in black slab and regular one. There is monster box of ASE for stacking and there is silver Krugerrand for collection. Dont want it – dont buy it 🙂

  31. Simulation Virtue says:

    I would only buy this if the mintage was 1,000.

  32. Rodney Fury says:

    Maybe it is an indication of where silver prices are heading very soon. But yeah no way in the world I am buying that coin at that price and mintage #.

  33. karen baker says:

    I bought one for the kids to have when I die lol a keepsake

  34. iluvsilva says:

    If MCM is going to rob it’s customers thinking they are the only dealer for Krugerrand, fine, I will buy one. BUT I will then boycott them with all other silver purchases. I suggest everyone do the same. Do NOT buy anything else from them!!!

  35. Larry W says:

    Gonna pass on this coin. Crazy price. I’ll wait it out.

  36. ngs5150 says:

    yeah no, will not be buying one.

  37. GoldSilver Investor says:

    I was anticipating being able to buy a roll of these but WOW! Sticker shock! The premiums are definitely crazy high. I ended up buying 1 regular and 1 SP 70 in white slab from MCM and also 1 regular and 1 SP70 in black slab from govmint just in case. If the prices do go down I will pick up some more but in case they don’t I won’t miss out.

  38. kyle jackson says:

    Pass. Not a smart buy

  39. Jackie Mccraw says:

    holy shit really

  40. sustayne says:

    Ok, here’s the thing. I agree that the price for this is mighty steep, mostly because of the problems they had getting them to market. Let’s accept though that the Krugerrand brand carries a great deal of weight in the bullion market. It is synonymous with value, refinement, etc. , just like the failed Trump brand carries alot of weight in the hotel industry even though Trump hotels failed beyond horribly.

    There are only a few other brands in the bullion arena that have worldwide recognition, i.e., Swiss franc, US Eagles, Canadian Maple Leaf(s). If there is, by the end of this year, any question as to the value the Silver Krug, all they need do is mint very low numbers for a couple of years, if any at all and that will shore it up rather nicely I expect.

    I grabbed a few FDOI SP70s. the PF 70s were already gone and the one or two I did see where a grand or more each. My thought is that these are going to do well. In the short term the FDOI’s SP70s appear to be holding good value already and I expect this to remain the way of things…again because of the brand recognition. Practically no other bullion coin could pull this off in this manner. If I am wrong, I am keeping the one’s I have for their historical value alone. No regrets.

  41. Irishsilverstack says:

    Yeah fuck that!! thanks for the update

  42. Tim Kincaid says:

    not even 1 is worth it at this price. I wonder what the 2018 issue will go for….

  43. Silver Dee says:

    I had to get one, lovely coin. Liked and subscribed

  44. Eli says:

    If and when the Krug is available at other dealers, what would be (you all’s) guess at a decent price? $39 ? or what?

  45. Billy Jarbo says:

    It’s only insane if the coins don’t sell. Even though I haven’t purchased one yet. I bet they will sell.

  46. Silverholica says:

    Not worth it… thinking along the lines of 39.99 but still might get a couple, undecided yet.

  47. Robert Walterman says:

    Will be shocked if it sells

  48. Matt Green says:

    My estimate:  it’ll bottom out around $22-$25 per coin within 6 mo. to a year.

  49. Robert Walterman says:

    As they make millions this will never be an investment coin mintage is rarety buy a lunar they all go up