Upcoming "Lucky coin" by Royal Korea Mint. Silver coin with chance to win 5oz gold coin with mintage of 1

[mr-dead]

Doesnt seem available just yet but out shortly:

https://agaunews.com/how-lucky-do-you-feel-25k-mintage-1oz-silver-coin-offers-the-chance-at-a-one-off-5oz-gold-version/

each coin is basically a ticket to win a 5oz gold coin, may be worth a punt if the premium on the silver coin isnt too steep.

 

 

[DoubleEagle]

Ooh I want one. LOL 

[kimchi]

Interesting but strange proposition imo! Is there a refund for all silver coins that aren't 'lucky'?

[daca]

Interesting marketing strategy.

[999magnum]

I'm in

[Melon]

"Always Winner" - that sounds like broken English to me. 

The concept is novel, but one assumes the price is going to be jacked up to cover the prize. Worth a look when prices are visible. I also would want to check terms very closely in case winner has to be in Korea or something like that. 

[swAgger]

Advertising poster says "buy one and get a chance to make 70x profit".

I wonder do they literally mean this. Simply taking the 5oz gold at spot price only - approx US$7,400, to make a 70x gain puts the asking price of the silver over $100. To hell with that. If there were 25 people in the draw i wouldn't be drawn, never mind 25,000.

[RacerCool]

13 hours ago, Melon said:

"Always Winner" - that sounds like broken English to me. 

The concept is novel, but one assumes the price is going to be jacked up to cover the prize. Worth a look when prices are visible. I also would want to check terms very closely in case winner has to be in Korea or something like that. 

Reminds me of that of video game "Big Rigs Over The Road Racing", with the prize you'd win.

 

[richatthecroft]

 I guess if I really liked the coin and the premium wasn’t too high I might have a go however, it’s not my cup of tea, and it appears the premium might well be high.

2 hours ago, swAgger said:

. To hell with that. If there were 25 people in the draw i wouldn't be drawn, never mind 25,000.

My sentiment too- if I fell into a barrel of tits I’d come out sucking my thumb. 

[kimchi]

ALL YOUR COIN ARE BELONG TO US!

[Bullionbilly]

1 hour ago, richatthecroft said:

 

My sentiment too- if I fell into a barrel of tits I’d come out sucking my thumb. 

I'll have to borrow that saying 🤣

[kimchi]

38 minutes ago, Bullionbilly said:

I'll have to borrow that saying 🤣

I'll have to borrow the barrel of tits

[RoughDog]

59 minutes ago, kimchi said:

I'll have to borrow the barrel of tits

You looking for a breast enlargement? 🤣

[kimchi]

6 minutes ago, RoughDog said:

You looking for a breast enlargement? 🤣

I think I am good for now thanks

[CadmiumGreen]

I played “pick-tit” in a bar called Baldy’s in Darwin, Australia once...won a fifth of whiskey!😃

[swAgger]

Available now at under €25, so a lot more than the claimed 70x profit to be had. Worth a punt?

 

[kimchi]

8 hours ago, swAgger said:

Available now at under €25, so a lot more than the claimed 70x profit to be had. Worth a punt?

 

Got to be worth a punt surely if it's a worldwide offer!

[Melon]

14 hours ago, swAgger said:

Available now at under €25, so a lot more than the claimed 70x profit to be had. Worth a punt?

 

Where is it on sale? 

5 hours ago, kimchi said:

Got to be worth a punt surely if it's a worldwide offer!

I'm not so sure. On the assumption the cost is 25 euro + postage, and with spot being circa 15 euro, that's a premium of 10 euro per coin. 

What would a coin like this normally be worth? Maybe at a push 20 euro? 

So using my entirely unscientific logic, that's 5 euro per coin for the 'lucky dip' element. 

25k mintage x 5 euro = 125,000 Euros

5 ounces of gold = 6,600 Euros

So that's a 95% profit margin on the lucky dip element for the mint, unless you think the gold is going to command a big premium. Personally I think it looks tacky and doubt it will. 

Plus add to that the chance this isn't even legit and could be fixed. Not saying it is, but the promotional materials are hardly professional looking. 

[kimchi]

That's a a good and different way to look at it @Melon!

I look at it more as a handful of scratchcards (which I don't generally buy but see plenty of people do) but at the end you've at least got an ounce of silver rather than nothing, and the odds are far, far better (assuming T&Cs don't restrict it to certain countries and it's run fairly, which neither of us have looked into).

[Melon]

25 minutes ago, kimchi said:

That's a a good and different way to look at it @Melon!

I look at it more as a handful of scratchcards (which I don't generally buy but see plenty of people do) but at the end you've at least got an ounce of silver rather than nothing, and the odds are far, far better (assuming T&Cs don't restrict it to certain countries and it's run fairly, which neither of us have looked into).

If folk want to have fun with it then absolutely go for it, it’s novel. 

But the odds are super bad here. Much worse than scratch cards which average cost 1 in 3 to 1 in 4.5 odds to win. Admittedly the prizes vary, but I’m certain the payout on scratch cards is far above the 5% rate of return on offer here (although still a bad bad rate of return). 

It’s true you still have your ounce of silver at the end of it, but given the premium you’ve essentially gambled an extra 1/4 to 1/2 of an ounce that you don’t hold. So it’s a bit of a mind trick really, you definitely are losing money on this unless you’re the 1/25k lucky winner. 
 

TLDR: If you’re after fun then have at it, but if you’re genuinely after the win then this appears to have some of the worst rates of return going. 

[Wouter06]

https://aurinum.de/1-oz-Silber-Suedkorea-Royal-Korea-Mint-Lucky-Coin-2020-2-Dollar

Available at Aurinum. Discount when you buy multiples. Not a bad price at all (IMO) and free shipping with an order above 400 euro.

Aurinum is pretty slow with shipping however. So I’m not sure you will get the coins before the lottery. 😁

[kimchi]

11 minutes ago, Melon said:

If folk want to have fun with it then absolutely go for it, it’s novel. 

But the odds are super bad here. Much worse than scratch cards which average cost 1 in 3 to 1 in 4.5 odds to win. Admittedly the prizes vary, but I’m certain the payout on scratch cards is far above the 5% rate of return on offer here (although still a bad bad rate of return). 

It’s true you still have your ounce of silver at the end of it, but given the premium you’ve essentially gambled an extra 1/4 to 1/2 of an ounce that you don’t hold. So it’s a bit of a mind trick really, you definitely are losing money on this unless you’re the 1/25k lucky winner. 
 

TLDR: If you’re after fun then have at it, but if you’re genuinely after the win then this appears to have some of the worst rates of return going. 

Yeah I see it as a bit of fun really for those who might otherwise (or also) gamble a bit here and there. It's something different!

With scratchcards when I see people cash the very rare £10/£20 in they almost always buy more cards with them (maybe it's where I live 🤣) until they are down to zero. Then they come back with their own cash and buy more. Those stats aren't tracked (a scratchcard addiction is not great publicity for the government, but that's what I see weekly - at least - around here) so I think this a bit of a different proposition (again back to checking those T&Cs though!).

There are stackers on here with dozens if not hundreds of ounces. Cost averaging one or two of these across such a stack I reckon it's worth a punt perhaps, it's certainly a memorable round, I wouldn't mind having one as a memento even if I didn't win.

[Melon]

30 minutes ago, kimchi said:

Yeah I see it as a bit of fun really for those who might otherwise (or also) gamble a bit here and there. It's something different!

With scratchcards when I see people cash the very rare £10/£20 in they almost always buy more cards with them (maybe it's where I live 🤣) until they are down to zero. Then they come back with their own cash and buy more. Those stats aren't tracked (a scratchcard addiction is not great publicity for the government, but that's what I see weekly - at least - around here) so I think this a bit of a different proposition (again back to checking those T&Cs though!).

There are stackers on here with dozens if not hundreds of ounces. Cost averaging one or two of these across such a stack I reckon it's worth a punt perhaps, it's certainly a memorable round, I wouldn't mind having one as a memento even if I didn't win.

Yea mate, I think as long as people do it for the right reasons like you mentioned then it’s OK! 

[jonrms]

Ok Thanks guys, I bought 2 of these 

 

[swAgger]

8 hours ago, Melon said:

 

I'm not so sure. On the assumption the cost is 25 euro + postage, and with spot being circa 15 euro, that's a premium of 10 euro per coin. 

What would a coin like this normally be worth? Maybe at a push 20 euro? 

So using my entirely unscientific logic, that's 5 euro per coin for the 'lucky dip' element. 

25k mintage x 5 euro = 125,000 Euros

5 ounces of gold = 6,600 Euros

So that's a 95% profit margin on the lucky dip element for the mint, unless you think the gold is going to command a big premium. Personally I think it looks tacky and doubt it will. 

Plus add to that the chance this isn't even legit and could be fixed. Not saying it is, but the promotional materials are hardly professional looking. 

it's not quite as straightforward as that really. Or fair to say the mint are purely running a gimmick to make a massive profit on the added 125,000 euro. As you say, without the lucky dip element a bog standard looking bullion coin like this could carry a cost of 20 euro, even that being on the generous side. The extra 5 euro you calculate at 125,000 euro premium for the lottery element (minus the 5oz gold cost) is not an added profit margin for the mint to fund the lucky dip element. It's the dealers are marking them up and taking that added premium. The mint are supplying at a flat rate with a smaller premium. Aurinum for instance can offer discounted bulk buys all the way up to 100 coins, bringing their own price down from 25 euro for a single coin to under 22 euro per coin for bulk buys. And Aurinum are still making a profit at that 22.