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 Replies: 320 / Views: 68,910 |
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Rest in Peace
Canada
1360 Posts |
I picked up a polar bear 1-1/2 oz coin today from Colonial Acres. (In person) They had at least two others on the shelf, and I don't know how many in the back (where he got mine). Price was $65.
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Valued Member
Canada
62 Posts |
Dcadon
Did you buy a holder for the polar bear?
freightrain
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Rest in Peace
Canada
1360 Posts |
it came in a plastic pouch, I'm kicking myself now, I don't have one that will fit it. It is the same as a Maple Leaf, but 1-1/2 times as thick (piedfort?).
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Pillar of the Community
Canada
1502 Posts |
Caught the news from a mint rep
Apparently the heat from the collectors forced the mint to buy back a portion of the polar bears they've already sold to the American dealer. This lot was then sold again to Canadian dealers for distribution. However, Goldline wouldn't release any of the 1812 coin so the mint can't do anything about it.
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Pillar of the Community
Canada
5324 Posts |
it is amazing how some collectors email and phone calls can do, along with the obvious pressure from the #2 and 3 dealers in Canada. but still due to the RCM stupid policies regarding this coin and the 1812 coin we are paying a astounding premium even at gate west price of 63.00 thats 14.00 above spot for a bullion coin. |
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Rest in Peace
Canada
1360 Posts |
do you think they bought theirs (Gatewest and Colonial) from the mint? I'm thinking they just ordered a few rolls from the respective American counterparts, paid the premium, and then added a little extra for themselves. Except for poboxw's story, I bet their first available coins were purchased this way... respective stock may have come from the mint.
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Pillar of the Community
Canada
5324 Posts |
their stock came from the RCM, this private minting of a nclt coin was an ill conceived policy of a former high ranking RCM offical. this started with the jaques cartier coin but with small mintage and little awareness this coin did not create any fuss unlike this coin, there wii be a story on this coin in the next CCN. the point is still we are getting fleeced by the huge markup, if this coin went through the natural dealer networks it would sell for around 55 to 56.00 at todays silver spot. |
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Pillar of the Community
Canada
695 Posts |
^ Front page of CCN is an article about this coin.
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Pillar of the Community
Canada
3690 Posts |
Quote:their stock came from the RCM..... if this coin went through the natural dealer networks it would sell for around 55 to 56.00 at todays silver spot. John/poboxw, I have no information about this coin and have no reason to doubt what you say but if the dealers (CA and Gatewest specifically) are getting these coins from the RCM rather than Lear, who is driving the premium? If the RCM is selling to Canadian dealers at normal bullion rates, are the dealers taking the extra premium? Or is the RCM over charging dealers? Seems odd that there are several Canadian dealers selling these at about $64-66 and I've seen none any lower. The coin is not rare so if dealers are buying from the RCM at normal bullion rates, one would expect market forces to drive the retail price down to normal bullion pricing. Is the CCN article available on line anywhere? Edited by CC-Ottawa
11/20/2012 11:49 am
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Pillar of the Community
Canada
695 Posts |
I believe that the articles are available on line, but only for subscribers.
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Pillar of the Community
Canada
3690 Posts |
Thanks middross.
If anyone can, please let us know the thrust of the article. If it's just about the coin existing, then it's not very interesting to me. But if it's a story about the issues we've been discussing (high premium, exclusive minting etc) then that might be worth the read.
Edited by CC-Ottawa
11/20/2012 11:56 am
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Pillar of the Community
1007 Posts |
They've been selling privy mark maples for years. I don't see a problem. How come its okay with a privy maple but not polar bear?
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Pillar of the Community
United States
4212 Posts |
I'm up for a polar, if anyone has a decent one @ at decent price.
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Pillar of the Community
Canada
5324 Posts |
lear capital put up the full cost for this coin and thus was given full exclusive distribution and as a monoloply charged at one time 68.00. just recently as the news hit the fan, the RCM has recently relented to some canadian dealers, either the RCM unilaterly gave stock to the canadian outlets or made a side deal with lear, I am guessing the latter that is why the price is so high. this type of bullion coin should have a slight premium like the antelopes. |
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Pillar of the Community
Canada
5324 Posts |
my understanding with the RCM lear deal was that the canadian dealers cannot sell to the us and canot undercut lears price. |
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Replies: 320 / Views: 68,910 |
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Posted 11/19/2012 8:46 pm
