| Author |
 Replies: 16 / Views: 7,892 |
Page 2 of 2
|
|
|
|
Pillar of the Community
Canada
2426 Posts |
I would really like to know how many of the 1914 $5 Gold coins are being melted.
|
|
Pillar of the Community
1844 Posts |
I would like to buy a handful of those 1914's....Seems crazy they would melt them when if sold to public they would get more than melt any day of the week
|
|
Pillar of the Community
Canada
5324 Posts |
if charleton included 300,000 units in storage at bank vault, the price for the orginal coins probably would be around bullion value except for the few ms coins.
|
|
Pillar of the Community
Canada
2426 Posts |
What would happen to value of the 1914 $5 Gold coin if 20,000 of the 1914 $5 Gold coins were melted?
This would leave approx 10,000 remaining in circulation!
|
|
Pillar of the Community
Canada
1192 Posts |
The official mintage is only one part of the story. Before this RCM offering, the amount circulating in the market on these had the prices pretty much at an equilibrium. Melting pieces that were never in the market will have little to no effect on prices. But releasing more into the market will increase the supply (and lower prices). There is a slight counter-balancing effect of this offering increasing the demand though. Overall I think we'll see a slight plunge in the prices on these after the novelty wears off. |
|
Pillar of the Community
Canada
2426 Posts |
Thanks Pokermandude I appreciate your response. I am a little confused though.
Based on my above scenario, wouldnt that make the 1914 $5 Gold Coin more scarce than the 1948 Silver Dollar which has a mintage of about 18,000?
|
|
Pillar of the Community
Canada
1411 Posts |
It would. The 1914 $5 Gold will most likely have a smaller survival rate then the 1948 Dollar.
Although more collect the Dollar Coins so they cost more.
|
|
Pillar of the Community
 Canada
3692 Posts |
Thank you, barriecarson. I should've looked at the search button or gone back a few pages, although looking through 50 pages of responses is kind of daunting. Thanks for pointing me in the right direction. A couple of years ago I settled on a $10 1912 with the hopes of a gain on my investment. Now the mint is making me sad.
|
|
Valued Member
Canada
370 Posts |
Libertad, I don't think you are alone in feeling 'sad'' about your investment. People like yourself have been put in an tough situation. I would not be happy either if I had spent big money on one of these gold coins before the BOC re-discovered a hoard of them in there safes.
|
|
Valued Member
Canada
386 Posts |
What's next for the RCM? A recently discovered stash of 1948 $1, 1870 NCLW, 1921 and 1932 50 cent coins next to the 1912-1914 5$ and 10$ gold coins in the vault. |
|
Pillar of the Community
Canada
5324 Posts |
this is only the start of the RCM problems regarding these coins, when you give a semi official grade to these coins and are not graders but imply that each series is better and better to the ulimate best of the best sets can only lead to unhappy collectors as the coins are delivered. one famous ebayer, who constantly overgrades his coins by 4 to 5 points still offers returns. |
|
Pillar of the Community
Canada
632 Posts |
Just thinking:
The stash of $5 and $10 is an exception. I don't believe there are any other in the safes of the BoC.
The exception was the war. The sovereigns struck in Canada were used to pay the war effort, so, it is conceivable that the gubbermint decided to save a bit more gold in case it became needed in the near future. This is not the case for 1921, 1948 or other scarce years/coins.
I do believe important stashes of sovereigns exist outside the country and that their scarcity is artificial.
Everything said and done, I keep saying: coin collecting is a very BAD investment, it is a hobby, just have fun with it.
|
|
Valued Member
Canada
464 Posts |
I am really glad I found out about this offering only a few days ago, and not when the mint rolled it out.. I know I would have have a very regrettable impulse buy.
|
|
Pillar of the Community
Canada
3692 Posts |
I know that it's a bad investment, but in any case I wanted one coin that I could buy and then forget about and never sell. The mint has now forced me to never sell it. It will be passed down my family. I think I'm going to stick with proofs from now on. re: RCM: What happens to gold and silver coins that don't sell? Do they get refined into new inventory or do they sit around collecting dust for the next 100 years? |
|
Pillar of the Community
Canada
632 Posts |
My understanding is that the coins not sold by the RCM will be melted. One thing I am not sure is who owns the coins: the Mint or the Bank. Does anyone knows? |
|
Page 2 of 2
|
Replies: 16 / Views: 7,892 |
Page 2 of 2
|
First Page
Posted 12/29/2012 09:13 am
