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Treasures of Australia- sapphires

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vish86 View Drop Down
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Joined: 20 Mar 2011
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    Posted: 20 Mar 2011 at 5:28am
hi

I am an avid coin collector. Was very keen on buying the treasures of Australia - sapphires coin but found that the price has really sky rocketed in the last year. Was wondering why this particular coin is so sought after in the series. Also where can I buy the coin at a reasonable price.
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xnlover View Drop Down
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It will be difficult to find the sapphires coin at a reasonable price, though it doesn't hurt to keep looking.

The reason it has "skyrocketed in price" is simply supply and demand.  It was the first coin in the series, and when first coins come out, it's typical for few people to be interested and to see the potential value and demand for coins, especially when they're so unique as these are - with an insert to the silver or gold coin.  Some dealers anticipate high demand and snap up many of the coins, trusting that at least they'll be able to sell them for what they paid for them but, if the series becomes popular after the second or third issue, probably much more.

After that second or third issue, more people see the series and become interested, and then they try to get the earlier coins they missed; and those coins have gone up in price because the Perth Mint sold out the original issue of 7500 silver coins, and an interested person has to buy one on the secondary market, where the price is significantly higher than the price at which the Mint sold it.

I just became aware of the series this year, and I was able to purchase the silver pearl coin from the Mint, but I had to purchase the diamond coin through a seller on eBay for about twice what the Mint had charged.  I'm trying to acquire a gold coin in the silver series, and they, too, are about twice what the Mint charged.  Some of the opal coins are also expensive, but the sapphire coins, being the ones necessary to complete any set, will always remain the most sought-after and, therefore, the most expensive - when and if they're even offered.

Good luck!

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