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Where to buy Silver Maple leafs?

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New Member

Canada
3 Posts
 Posted 12/28/2008  5:40 pm Show Profile Bookmark this topic Add rickdl to your friends list Get a Link to this Message

This is probably a stupid question. But I've searched the posts in this forum and couldn't really find a good answer.

Reading posts here it seems to imply that circulated canadian silver maple leafs are mostly worth close to the spot price of Silver.

I'm interested in buying some maple leafs, but the ones on eBay usually end up costing about $20 each (currently) after working out shipping, etc. Which is way way over spot price (currently).

I'm in the Toronto area. Doing some searches for coin stores online and found some (like thebullionmart.com) but they sell the silver maple leaf for like $20.55 each (while buying them around $11.50).

Are there any places around the Toronto area that would sell circulated Silver Maple Leafs anywhere close to the spot price?

Also/where how do you buy cheap uncirculated silver maple leafs?

So far the only advice I had was to try and call ScotiaBank, but I'm not a scotia bank customer, and I think they charge a service fee, so if I'm only interested in 2 or 3 coins the service charge/fee would again cause me to pay way over the spot price.

Pillar of the Community
United States
3098 Posts
 Posted 12/28/2008  6:19 pm  Show Profile Bookmark this reply Add wd1040 to your friends list Get a Link to this Reply
Well, all bullion are way over spot price right now. It's because there is too much demand and not enough physical to go around.

I buy from here:
http://www.apmex.com/
I don't know if they do Canadian shipping, but I like their service.
New Member
Canada
3 Posts
 Posted 12/28/2008  6:28 pm  Show Profile Bookmark this reply Add rickdl to your friends list Get a Link to this Reply
I've been warned in previous posts to not try buying from the USA and having it shipped to Canada. Due to mainly you get problems or extra charges/fees when it goes over customs. So trying to find a reseller mainly in Canada (Toronto would be best since then I could just drive there, Toronto is one of Canada's largest cities so figured it would probably have a good place).

I realize since I'd be buying a small quantity that of course I'd be charged some sort of premium/higher price than spot. But just looking for what is a reasonable place (in Canada) to buy silver maple leafs at anywhere close to spot.

Buying them at $20 when spot is a little under $11 seems ridiculous to me.
Pillar of the Community
Australia
1040 Posts
 Posted 12/28/2008  6:34 pm  Show Profile Bookmark this reply Add latman100 to your friends list Get a Link to this Reply

Quote:
Buying them at $20 when spot is a little under $11 seems ridiculous to me


That is the way it is at the moment. You will be very hard pressed to find any at close to spot at the moment. Demand is greater than supply, so price is up.
Pillar of the Community
United States
3098 Posts
 Posted 12/28/2008  6:36 pm  Show Profile Bookmark this reply Add wd1040 to your friends list Get a Link to this Reply
ahhh yes... the customs problem.

Then I guess you could go to a store or ... craigslist... and get one for about CAD15-16. Just make sure it's real.

And why such a small quantity?
Pillar of the Community
Canada
597 Posts
 Posted 12/28/2008  6:56 pm  Show Profile Bookmark this reply Add IBGolden to your friends list Get a Link to this Reply

Sadly, at this point, if you can get a Silver Maple for 20 bucks with shipping included, that would be considered a bargain.... seriously. I consider myself quite a titewad frugal dude, and I was happy with a 22 dollar 2008 Silver Maple, that I eBayed from the U.S.
Paying customs/duty is a crapshoot. Packages are seemingly randomly selected from regular post, but the more you pay for shipping the more likely your package will be diverted to customs.(I can confirm this fact). For a small order of 3 silver maples, duty would be PST exempt(in Ont. & BC); you would pay GST(5%)+ $5(customs handling charge) on the enclosed invoice. If no invoice is enclosed Custom's Canada will estimate the value... then you will have to file an adjustment because they will estimate ungodly high. The enclosed invoice is the best way to go... here honesty is definately the best policy. Or, the package may not be diverted to customs at all.
If your just looking for inexpensive silver, how about pre '67 circulated dimes and quarters? These would be the cheapest alternative in Canada rite now.
Pillar of the Community
United States
5656 Posts
 Posted 12/28/2008  6:57 pm  Show Profile Check BH1964's eBay Listings Bookmark this reply Add BH1964 to your friends list Get a Link to this Reply

Quote:
Are there any places around the Toronto area that would sell circulated Silver Maple Leafs anywhere close to the spot price?


I'm not sure what you mean by "circulated" Silver Maple Leafs. Did these ever circulate in Canada as $5 coins? If not then there would be little or no availability for them.

As far as being close to spot, I'd say forget about it. Silver spot is still very low (relatively speaking) and gold has not fallen nearly as much making silver a good buy at $13-$14 USD/ounce.

APMEX.com, http://www.apmex.com/Product/44578/...e_Leaf_.aspx has 2009 BU Maple Leafs for sale at $14.62 each. That's likely as low as you're going to find at this time.
ANA #R3154474
Edited by BH1964
12/28/2008 6:59 pm
Valued Member
Canada
159 Posts
 Posted 12/28/2008  6:58 pm  Show Profile Bookmark this reply Add Coinage to your friends list Get a Link to this Reply
Maybe the price that you see on eBay is the REAL price of silver, not the spot price in the market.
Pillar of the Community
Canada
597 Posts
 Posted 12/28/2008  7:08 pm  Show Profile Bookmark this reply Add IBGolden to your friends list Get a Link to this Reply

Quote:
Maybe the price that you see on eBay is the REAL price of silver, not the spot price in the market.


Let me fix that... The price on eBay is the price of REAL silver. The paper traded silver lowers the world spot.

P.S... The $5 Silver Maple does not/was not intended for circulation. 'Tis a bullion coin.
New Member
Canada
3 Posts
 Posted 12/28/2008  7:11 pm  Show Profile Bookmark this reply Add rickdl to your friends list Get a Link to this Reply
Sorry I meant by 'circulated' that it didn't have to be in mint condition in original packaging etc
Pillar of the Community
Canada
597 Posts
 Posted 12/28/2008  7:20 pm  Show Profile Bookmark this reply Add IBGolden to your friends list Get a Link to this Reply

Quote:
it didn't have to be in mint condition in original packaging etc


As any bullion coin, the condition is of lesser importance than the bullion content. Little, if any, cost saving would be realized on a silver maple that were opened and handled. It would have to be pulverised and/or defaced to realize any significant savings... yet it would still get more than spot!
Valued Member
Canada
159 Posts
 Posted 12/29/2008  06:05 am  Show Profile Bookmark this reply Add Coinage to your friends list Get a Link to this Reply

Quote:
APMEX.com, http://www.apmex.com/Product/44578/...e_Leaf_.aspx has 2009 BU Maple Leafs for sale at $14.62 each. That's likely as low as you're going to find at this time.


It's Strange when Canadians have to order Canadian produced products from the U.S. to save money... seriously, how does that work?

There has to be a place to buy bullion cheap, in Canada. I'm going to email the Royal Canadian Mint and find out what they have to say. I was at the RCM site recently and they said you can buy their bullion products from their network of sellers such as banks and coin/bullion dealers. I'm assuming these sellers are buying in Bulk and getting spot price (or close) and just flipping it... if that's the case, does anyone live in Ottawa or near RCM? Cause we should pool our money together and buy Silver in bulk from the Mint. Buy a ton or more in 1oz coins, 10oz and 20oz bars. I wonder what the minimum order would have to be. Also make a "run" for other bullion dealerships while at it to make the quota amount needed to buy directly from the mint.



It would be nice to get a Box of Silver Bullion, at spot price.
Edited by Coinage
12/29/2008 06:39 am
Valued Member
Canada
159 Posts
 Posted 12/30/2008  12:24 am  Show Profile Bookmark this reply Add Coinage to your friends list Get a Link to this Reply
All this talk got me to wanting to buy Silver... so I did. Tough to find this stuff lately.
Valued Member
United States
405 Posts
 Posted 12/30/2008  12:42 am  Show Profile Bookmark this reply Add Mr Finger to your friends list Get a Link to this Reply
You could try Kitco,Apmex,ebay or your local coin shop guy! Also you could google it and get a lot of results!
New Member
Canada
36 Posts
 Posted 12/30/2008  5:21 pm  Show Profile Bookmark this reply Add ballain to your friends list Get a Link to this Reply
Hi, well you can find the leaf at any RCM dealers, however not at spot price,

Because you have to remember that it is still a coin,, its not like a silver bar,

Some maple leaf coins are limited mintage, and there are some that are rarer then others, which makes the price climb.

Here are link to 2 of mind, first one in inverse proof, and the second one is the 20th anniversary with a gold plated leaf, mintage,, 10,000.





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