There is sufficiency in the world for man's need but not for man's greed. This is a famous quote from Mahatma Gandhi. It is exactly what has happened to Macau Lunar coin. The price of the Macau Rooster Lunar 100 patacas coin has gone up to a staggering S$1030 in the most recent release. If you consider the fact that the snake coin was priced at S$780 in 2013, the price of this lunar series has gone up by 32% in 3 years. Does this make sense? At the same time, the mintage has gone up to 2000 pieces from 500 pieces. The increase in mintage and price is double whammy.
This coin has always been a balloted item because demand always exceeds supply. It would be sold out before the lunar new year. The situation has changed completely this year. When I visit the Singapore Mint website today, this coin is still available for sale. It is not difficult to understand the reasons for this. When there are more coins and each coin is priced at exorbitant level, demand will fall. This is a common sense. So, why is the issuer doing this? I guess it could be due to greed and greed has led to a trouble mistake.
No comments:
Post a Comment