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 Replies: 31 / Views: 4,796 |
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Pillar of the Community
Canada
746 Posts |
Not sure why it's necessary to cash this type of coin at a bank. Just take it to a dealer, who will be more than happy to give you $20/$100 (face value) for it, because s/he can sell it for profit.  I did ask the Mint about using these type of coins to trade for a different coin. The answer was no, but you can invest them at a bank (not cash them in); just invest them (assuming to be used as collateral?)...  |
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Valued Member
Canada
60 Posts |
Hasn't this topic been covered like a zillion times before?
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Pillar of the Community
United States
2408 Posts |
Wasn't Silver supposed to hit $100/oz, like last year?
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Pillar of the Community
Canada
685 Posts |
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Just take it to a dealer, who will be more than happy to give you $20/$100 (face value) for it, because s/he can sell it for profit. Not true here in Toronto, nobody will take it at face value. |
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Pillar of the Community
Canada
2805 Posts |
I would try spending these at stores. Maybe one day, at great personal expense, we'll succeed in pressuring the Mint into making them really circulate :O
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Pillar of the Community
Canada
685 Posts |
[quote]we'll succeed in pressuring the Mint into making them really circulate :O[\quote]
I wish too.
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Pillar of the Community
Canada
3167 Posts |
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Wasn't Silver supposed to hit $100/oz, like last year? What do you mean supposed to? |
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Valued Member
Canada
373 Posts |
I've cashed in some hockey coins at the mint. Bought some of those 20 for 20 card holders with them.
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Valued Member
United States
149 Posts |
You can probably get $100 of real money for these coins if you and your bank are willing to jump through some hoops.
But unless you do it soon you will not be getting $100 in 2013 dollars. Your coin, because there is so little silver in it and because they made so many of them will devalue at the rate of inflation. Sorry.
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Pillar of the Community
Canada
981 Posts |
how stupid can you get it is worth $100 it does not matter how long you wait
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Pillar of the Community
United States
1002 Posts |
I think what sodude means is that $100 will not have the purchasing power in future years as it does now in 2013.
A 1937 Bank of Canada $100 note can still buy a $100 worth of goods and services in 2013 as it did in 1937. The difference is that if it was spent in 1937 you could have purchased a whole lot more.
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Pillar of the Community
Canada
2124 Posts |
"But unless you do it soon you will not be getting $100 in 2013 dollars. Your coin, because there is so little silver in it and because they made so many of them will devalue at the rate of inflation. Sorry."
According to your logic, so the 100$ paper bill worth maybe 1 dollar and has 0% silver, but it still worth 100$.
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New Member
Canada
41 Posts |
I'd say it is worth what someone would pay for it... I don't really care about the face value... The face value is almost a non-sence when we are talking about NCLT coins...
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Pillar of the Community
United States
1002 Posts |
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The face value is almost a non-sence when we are talking about NCLT coins... When the face value exceeds the intrinsic metal value or the numismatic value, it does become a factor. I consider the face value to be the "floor", or lowest possible amount of what a coin or a paper note is worth. You can obtain other forms of currency equal to the face value of the NCLT - it may be inconvenient; it may take time - but you can do it. If you are using the convenience of conversion argument: a) Having four twenty dollar bills may be worth more to you than having a hundred dollar bill, if you are out in the middle of nowhere; you need to buy groceries and the only store is a convenience store that doesn't accept hundred dollar bills. b) Twenty loonies may be worth more than a hundred dollar bill to you if the only place you have to spend it is a vending machine. |
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Pillar of the Community
Canada
3167 Posts |
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Your coin, because there is so little silver in it and because they made so many of them will devalue at the rate of inflation. No different than keeping the money in a bank account (or under your pillow in loonies (man that would be uncomfortable  ). It doesn't have to be certain of an increase in value for me to collect it anyways. |
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Replies: 31 / Views: 4,796 |
First Page
Posted 05/28/2013 9:53 pm
