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Replies: 20 / Views: 4,737 |
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New Member
 Canada
20 Posts |
Oh...I'm in New Brunswick by the way.
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New Member
 Canada
20 Posts |
I've been looking around at some of the vendors. Shipping makes it too expensive to buy small quantities. One place would charge more for shipping than 1oz of silver costs.
Has any one purchased silver or gold bullion coins from a bank branch? Do you just walk in and go to a teller and exchange money for silver?
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Pillar of the Community
Canada
2845 Posts |
It's highly unlikely that the typical bank branch has a stash of gold in silver on hand. In my experience it's special ordered and takes a week or two to arrive but that may not be the case in larger centres . If you're planning on collecting gold or silver purely for the bullion price, then bars (or wafers) are usually cheaper than coins. But your best bet on how the orders are transacted would be to speak to someone at your bank (or other local banks) to get meaningful information. Some banks also have online bullion services. For example: https://www.cibc.com/ca/investing/p...chasing.html
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Valued Member
Canada
214 Posts |
I suggest going to your bank and getting a final cost from them and then call a dealer (like ourselves) and get a final cost. The bank will be likely much higher even with the shipping.
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Pillar of the Community
Canada
1747 Posts |
I tried buying from scotia, and you need to call ahead to make an appointment, for me being in Vancouver, anything after 2pm I was SOL (Stuck out of luck) because they have to call back east to get the current rate. And they did not have any on hand, you needed to order.
just a bad experience overall, and a total act of futility.
try searching locally, I know there are a few local bullion dealers in the metro van area, so maybe there are some near you? have you asked at your LCS (if you have one)
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Pillar of the Community
Canada
6768 Posts |
Do you try to get new in great condition, single item, close to spot and low shipping? Do not think it really possible. You have to cover the charge by something: volume of purchase, overcharged for item or usual shipping rate.
But you mentioned Gold Maple Leaf. The Colonial Acres has free shipping on ALL order over CAD 500. Check also the Canadian Coins & Currency, their bullion department.
So, probably the best to save on everything - try LCS and check the bank.
everything actually depends on "what do you want", and the budget.
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Pillar of the Community
Canada
2845 Posts |
Good advice Silveroid! And to 20For20, the decision of WHY you want to buy whatever is important so that it satisfies WHAT your purchase. For example if you want to buy eye-appealing coins, you will be paying a premium above the value of the actual silver content. Eventually when you go to sell it you then have 2 variables to consider - current silver prices and market demand of the actual coin. If you're solely interested in the possible future capital application of bullion prices, purchasing actual silver is more expensive than other instruments such as silver certificates, precious metal mutual funds, or bullion or mining stocks whereby you do not hold the actual bullion but the value of your investment fluctuates in accordance to it. Regardless, I think that most of us here would strongly advise that you must consider any expenditure related to precious metals a very longterm savings plan in order to offer any chance of future capital appreciation, otherwise if you need to get your money out quickly because your own financial situation requires it, there's a high likelihood you could be on the losing end.
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New Member
 Canada
20 Posts |
Thanks everyone for all the great tips and advise. I don't plan on buying enough to be used as an investment, I just like the coins. Maybe it's weird, but I also think it would just be neat to follow the value of the coin (even if it's just one coin) by following the price of the metal. As far as Gold is concerned, I was thinking about a 1/20 oz gold maple leaf coin. My wife would kick me out if I spent $1500.00 on a coin. Perhaps, I would get equal or greater enjoyment from a gold Lobster coin from the RCM. I think I will visit coin shops when I travel and check with them for gold and silver bullion coins. I will also check the local banks. Thanks again!
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Pillar of the Community
Canada
6768 Posts |
Thanks for clarifying, 20for20 In my view, the best from the design / quality / price perspective would be: 2011 - current Maple Leaf (Forever) series, with it best points: attractive annually changing design of Maple Leaf 1/2 oz .9999 silver Specimen finish (like on pre-radial SML) full RCM package (capsule, COA, maroon case) price: possible to get for $25 - $35 per coin. the best small coin gift for your self and any other
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Pillar of the Community
Canada
2845 Posts |
Great idea 20for20 and have fun with it! I agree visiting a few dealers can be very worthwhile as they often provide a wealth of educational information. Tracking the ups and downs of even of a small "investment" (not sure what else to call it) is a very worthwhile and interesting habit-forming activity that can serve as a great learning experience when making other financial decisions In the future. I think you've got a great plan!
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Pillar of the Community
Canada
576 Posts |
For New Brunswick there are a couple of walk in options. Moncton has Atlantic Gold and Silver, see the web site for options and pricing. In Fredericton there is a little Jewelry Store / Pawn shop on the north side, real nice family that runs it, they are fair and you never know what they may have. Mossman's Express cash. I have not looked in other parts of the province. cheers Liverpool
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Pillar of the Community
Canada
6768 Posts |
Thanks to Liverpool, reminded me the coin stores... The "Hub City coins" in the Moncton.... never visited their store, but saw the owner (?) at the coin shows in Toronto. As per conversation with him - knowledgeable and reliable.... so I will recommend. They also have the ebay store.
Edited by Silveroid 07/16/2015 3:20 pm
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New Member
 Canada
20 Posts |
I will visit those stores for sure the next time I am in Fredericton or Moncton. Thanks
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Pillar of the Community
Canada
1118 Posts |
Yo 20For20, I live in Woodstock too! I am putting on a coin show on the 3rd. It is quarter to 3 but if you have PM enabled I will send you off an email in the morning.
Post Script: I will be selling some 20 for 20 coins at it!
Edited by Harmonica 07/18/2015 01:48 am
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Pillar of the Community
 Canada
2360 Posts |
Some critter bullion SML's. O'Canada Box. 
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Replies: 20 / Views: 4,737 |
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