#coins

hey badon, how're you?

wb badon

I've decided I'm going to do a data cabling course

going to study it part time, it starts in a couple months time, costs just over $7,000, hopefully I can pay by installments or that the government can pay for it with their new work program

Hi badon, how're you?

:-)

hi zim-

Doing fine!

Thats good, anything new?

I'm still catching up on the days activity.

zim-: The LBC list has been busy!

Oh yeah, i've been meaning to check up on it

I will soon

The 70 i was going to buy had spots so i passed on it

The spots on those coins have killed their value.

Then lovenoah sold his 70 last night, just before he was going to take down the listing

Yeah, even in the ones with no spots?

Yep

I haven't seen one yet that DOESN'T have spots. It looks like all of them have spots.

The 70's would be over $800 now if they didn't have spots.

My 70 foesnt

Doesnt*

Nor do my other two 69 and raw

The normal pricing for 70's is 2 to 5 times the price of the 69's. So, these coins could be as much as $2250 in a 70 grade right now without the spots.

zim-: Did you do the refrigerator trick?

Don't do the refrigerator trick to the raw coin

Only the certified ones.

Not yet will do it tomorrow

The raw coin can have the white spots residue removed.

Or today rather

Then, it will never develop spots.

Yeah nice

dragonzeng168 told you the coin had spots?

Yep

That's why I like that guy.

Yeah he's great

He offered me a discount also, 480 he said he would sell it for

But i declined

That's about the cost of the coin plus grading. That's not bad.

well, cost of the coin, plus grading, shipping, and fees.

Yeah, still its of no use to me if its not an investment

Right.

It's still probably a decent investment, but it would be better for a collector that just wants one as cheaply as possible.

Hmm, I think it is thought to be the key to the series, so it's probably a good investment in any grade, but it will take some time before that will become apparent, and you already have others, so you don't need it.

I guess this is a good lesson on diversification.

In this case, "one bad apple spoils the bunch", and the 70's have stopped getting price gains due to white spot problems.

True, what mint priduced them again, i forget?

Yeah that sucks

Shenyang

So you dont think another 70 would be a good investment?

Oh yeah thats right

The coins are really beautiful, they did everything right, but killed the market for them by not being careful about rinsing the planchets before striking. Just laziness.

I think a 70 that is guaranteed to never develop spots would be the best investment.

Yeah thats terrible

I think when those appear on the market, the coins will come back in favor again.

A lot of people are buying brass and copper because there's no worries about spots.

Yeah cool, would is still rise in value as much as before? If it had no spots?

I have returned all of my certified lunar goat pandas. I replaced them with raw coins that I can properly conserve myself to guarantee they will never get spots.

Yes, coins that are guaranteed to never develop spots would completely eliminate fears of owning silver coins.

Yeah nice, raw lunar goat pandas?

People are refusing to buy high grade silver.

Yes,

True coins like that would be best

Yeah really? Because of the white spots?

Eventually I'm going to post my info about the refrigerator trick publicly. That will make silver a better investment because people will find out in a few minutes if they have problem coins or not.

Yes, brass coins have been doing very well. Silver, not so much.

Gold is doing the best, though.

True, that will be good

Brass can still tone and get toning spots, but gold never changes, it's perfect.

Platinum and palladium too.

Yeah really, maybe i should save up for gold

Price gains are better on silver and cheaper metals.

I've been selling some of my gold to buy brass and copper.

Oh yeah, i read on a couple listings that gold can have red spot problems?

Have you heard of that?

They said "no red spots" on the listings on ebay

Yes, red spots can form, but they are easy to remove with almost no risk of damaging the coin. They just need to be heated up with a torch.

Red spots are toning on impurities in the gold.

When the coin is heated up, it vaporizes the toning.

Oh yeah, so red spots dont devalue the coin?

Not really.

They're the least important kind of mark on coins.

Thats good then

Even less of an issue than toning on silver.

Cool

With silver, the toning can be removed, but there is a risk of damaging it. With gold, you can remove the toning as often as you want with almost no risk of damage.

Pity about silver

Nice

Wish gold wasnt so expensive though

What carat are the coins?

Depends on the coin, usually .999 fine (practically pure)

Karat/carat ratings aren't usually done for coins, that's mostly for jewelry.

Yeah, is that like 24 carat?

yes, 24 carat is pure.

Oh yeah

Cool

Some coins are rated at .99999 fine (5 nines) for tax reasons, because gold of that purity isn't taxed. Canadian coins are that way, and maybe Australian too.

Oh yeah

Will there be anymore chinese coins released this year?

Or do we need to wait for 2016

I don't know. That's a good question to ask at LBC.

Oh yeah, i might have to later, when i get out if bed, on my phone now typing one handed

7am atm

Haha, OK.

How long do you think it will take for the lunar goat panda to be apparent that its the key in the series? Roughly months or years?

Years, for sure.

Oh yeah

Actually, to be the key, it would need to be the lowest mintage. There are 12 coins in a lunar set, one issued each year.

Woah do 12 years it could take then?

So, after the second or third year, it should be clear if the mintages are increasing, which would make it obvious that the first year will probably end up being the lowest mintage.

Oh yeah

So not do lol

No, I think after the next year's monkey, people will start making their bets that the goat is the key, if the monkey has a higher mintage.

Oh yeah

What month or part of the year would the monkey be released? January to march or so?

They usually start minting in November or December of the previous year. So, they might start making them in a few months.

Nice

If the monkey has the same mintage of 299, would that make the monkey a key also, and tge same with the others in the series? Assuming they werent all of the same low mintage

The*

Maybe, but not necessarily.

IF that happened, then usually people will start looking for varieties or grade rarity to decide which one is the rarest.

What makes a key exactly besides the mintage? Or is it the mintage slone that makes a key?

For example, if the 2016 monkey has no spots, then spot-free specimens of the goat (in any grade) would be the key.

Oh yeah

Do the grading companies clean the coins before they grade them? If they had spots?

Dragon is also charging a lot more for his pcgs graded coins then his ngc coins

Does that mean pcgs have less chance of developing white spots? If they cleaned them better?

No, the grading companies normally only do grading. Sometimes they will make an exception in special cases.

PCGS does not do anything different with their coins.

Oh yeah who does the cleaning?

No one.

I've been training dragonzeng168 to do conservation, but he's not 100% ready yet.

Oh yeah

When he gets good at it, he'll be able to do the conservation himself, and guarantee the coins will not develop white spot problems.

Nice that will be good

Yeah.

I think the market for silver will recover then.

Yeah hopefully

You should teach lucky too

For some reason i cant see his listings on ebsy anymore

Ebay*