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 Replies: 2,778 / Views: 300,394 |
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Pillar of the Community
United States
1002 Posts |
Just picked up a $10 HS from Colonial Acres in the original packaging on ebay as a match to my 1914 $5 HS that I got two years ago from the RCM. I am happy that the foreign exchange made it a better deal for me now then it was back then. It seems as though most of what is out there now is slabbed and graded. Does anyone know what became of the RCM inventory that didn't sell out? |
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Bedrock of the Community
Canada
21609 Posts |
I was under the impression they all sold out but if they didn't I would imagine they were melted down with the others that didn't meet the "Hand Selection" requirements. Perhaps someone else out there would know for sure.
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Pillar of the Community
Canada
3049 Posts |
The majority of the ones that were just released were purchased by a very large dealer... (my guess is somewhere around 80% of those that were just recently released)
I would think that the price probably will depreciate a bit.. but not by a large amount as the ones that are held by this dealer will probably only slowly be released into the market and at prices pretty close to trends
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Forum Kid
Canada
1074 Posts |
holy cow, 180 pages... I never ended up receiving this email, though both me and my grandpa have been subscribed for years, even in 2012. What was the verdict.
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Pillar of the Community
Canada
1505 Posts |
I looked at the PCGS/NGC population report in June and 70% of the 15,000 1914 $10 gold coins released by the mint had been graded. I think someone got a nice volume discount.
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Pillar of the Community
Canada
3049 Posts |
Nope.. there wasn't a discount... (I'm not even sure if this even would've given anyone else "platinum status" by the RCM as this was gold and not their usual RCM product) The buyer was willing to pay exactly what the RCM was asking... so long as they could get as much of it as possible.. On a side note I found it funny that most of the stuff that was sent off by one dealer from the states came back one full grade higher than the 70% of material sent in from the Canadian dealer... |
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Pillar of the Community
Canada
1505 Posts |
I meant a discount from PCGS, sending in several thousand coins (or however many it was) must give you something pretty good in terms of pricing.
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Bedrock of the Community
Canada
21609 Posts |
I was told by the dealer I bought mine from (missed out on RCM as they were sold out) that PCGS offered dealers a discount on the gold coins plus they had a special hardcase made for them with a specially printed insert with the Canadian flag and shield. |
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Valued Member
Canada
403 Posts |
If I recall correctly, the BoC gold hoard was limited to 30,000 units in total to be released to the public, while the remaining 200,000+ units of the hoard were to be (and now presumably) melted.
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Pillar of the Community
Canada
541 Posts |
I doubt that the RCM would melt the remaining gold hoard and not announce that fact....I wouldn't be surprised if some enterprising dealer made them an offer they couldn't refuse such as 1.....let me at least look at the remaining coins and select the nicest ones . 2...I will pay you double bullion value for the rest 3....let me buy the remaining coins and sign a non release waiver for 25 years.......given the response to these coins and the fact that gold is still dropping I'm not surprised they haven't melted them yet.... |
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Pillar of the Community
Canada
5324 Posts |
Go back in this thread to the famous pcgs video, a famous Canadian dealer had advance viewing and purchased or brokered half of the issue, if you did not get a ms 65 or higher good graded coin it will become bullion value as the markets have become. I don.t think you have to worry about the RCM releasing the rest of the hoard, no one will buy them. |
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Valued Member
Canada
403 Posts |
Cassidy, they did melt them, and the RCM did announce it back when they made they initial public offering of the hoard. The hoard consisted of 245,000 pieces. The RCM hand selected 30,000 for public sale, and melted the rest. |
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Pillar of the Community
Canada
541 Posts |
@skip 79.....if the RCM has melted these remaining boc gold coins this is the first ive heard of it...and I find this hard to believe. can you provide proof of this RCM announcement?  |
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Valued Member
Canada
403 Posts |
To end the nonsensical conspiracy theories, here is an excerpt from the RCM's press release announcing the hoard....I've taken the liberty of highlighting the salient parts: " Approximately 245,000 King George V $5 and $10 gold coins dated 1912, 1913 or 1914 are currently held in the Exchange Fund Account (EFA), controlled by the Minister of Finance. To liquidate these physical assets and convert them into high credit quality, marketable fixed income securities, 30,000 of these coins were hand-selected for sale as high-quality treasures of Canada's numismatic past. The remaining coins will be melted and refined into pure gold by the Mint, which will convert them into a tradable, liquid asset." |
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Valued Member
Canada
495 Posts |
@skip79
If only 30,000 were selected how many are "Out Thers"?
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Replies: 2,778 / Views: 300,394 |
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Posted 11/24/2014 3:29 pm
