| Author |
Replies: 22 / Views: 5,620 |
Page 2 of 2
|
|
|
|
Pillar of the Community
United States
1002 Posts |
Quote: Does anyone else find it irritating that our mint is producing Exclusive Canadian Commemorative coins for privately owned american corporations? At least 50% of the mintage of these coins should have to be available for sale in Canada, for Canadians by law. This is what the free market gets you, abused, and over charged. Our mint should be a non-profit company tasked solely with maintaining the integrity of Canada's coinage, and producing world class commemorative pieces, not cheap frosting, steel slugs, and commissioned bullion to Americans. It doesn't bother me at all and I am not one to think the free market should dictate in every case. I am a Canadian citizen and live in the U.S., but it wouldn't bother me if I still lived in Canada either. It is not like the commissioned bullion they produce is a necessity of life or even an integral part of Canadian coinage. As a collector, it would be nice to have, but it isn't like healthcare - a necessity to live. I am sure if a Canadian corporation wanted to commission bullion for sale exclusively for Canadians under the same terms, the RCM would oblige. Presumably, the RCM profits from this transaction, which helps in covering overhead, therefore assisting in the ability to produce other coinage. Also the profits generated, since it is a Crown Corporation, results in money from American hands going into the Canadian government coffers, theoretically reducing the tax burden of all resident Canadians. Therefore the benefit of such a transaction is distributed to a broader base of Canadians than just those who wish to purchase this particular bullion. I wouldn't like it if, say, the RCM had made their 1912-1914 gold hoard coins exclusively available to Americans. Those coins are part of Canadian heritage. These special mintings of Commissioned coins wouldn't exist to begin with if the American company didn't commission it in the first place so I don't think they are really of any particular significance to Canada. If anything, Canadians should be proud that there is more demand by Americans for a "Canadian" bullion piece, than one the RCM could have produced with an Eagle and some past American emblazoned on each side. I get your point but I respectfully disagree with it.
|
|
Pillar of the Community
Canada
1528 Posts |
|
|
New Member
Slovakia (Slovak Republic)
31 Posts |
Set of gold and silver bear. 
|
|
Pillar of the Community
Canada
5324 Posts |
if you are American or British, can you imagine The Royal Mint or the Us mint creating a coin with a president or queen on one side and only sold by a private Canadian coin dealer. I do not think they would allow this situation to occur, only in Canada.
|
|
Pillar of the Community
Canada
590 Posts |
You mean like the $5 coins in a new presidential coin series authorized by the Republic of Liberia. 
|
|
Pillar of the Community
Canada
5324 Posts |
so you are comparing the RCM to Liberia,
|
|
Pillar of the Community
Canada
590 Posts |
In that they are greedy money grubbers, yes.
|
|
Valued Member
Canada
370 Posts |
So, in a month or two when Canadian companies start selling the 1/4 oz. gold Polar Bear, what do you think the price will be?
|
|
Pillar of the Community
United States
1026 Posts |
If the silver polar bear is an indication then there will be big mark-up over spot. Hence, I'd stay away from it, because in years to come this coin (like the polar bear) will be worth spot and a little bit, like most other bullion - imho.
|
|
Pillar of the Community
1007 Posts |
Omxfl I guess you're not familiar with the wildlife series bullion fro RCM. First coin sells for double spot price or more and the second coin is doing pretty good to. What about all the privy mark maples, most of them sell for we'll over spot.
|
|
Pillar of the Community
United States
1026 Posts |
I am familiar with them, but the polar bear seems to have an unlimited mintage and I very much doubt it will have the same appeal as the Wildlife series coins - they are all 1oz, whereas 1.5oz seems a strange format. Also, only the first of the Wildlife series coins is doing well. The other ones can be bought at almost bullion prices. Plus, this is NOT part of the Wildlife series. It's just a privately commissioned coin. And most of the privy marks aren't really selling well either, considering you have to pay a premium over spot to begin with. I do like the polar bear design though. But I'm not going to pay $70 for 1.5oz silver right now. There are some European dealers who already discounted them... Patience is a virtue!
|
|
Pillar of the Community
United States
1026 Posts |
...if you don't believe me: http://www.stollberg-edelmetalle.de...ie-2013.htmlThere is 7% tax on silver in Germany and the price of the coin is basically 10% over spot not considering tax. That works out at roughly $56 per coin excl. shipping. That dealer only ships to Germany though.
|
|
Pillar of the Community
1007 Posts |
Where can you get the second coin in the wildlife series for near spot? (Grizzly) how about coins available to Canada. Not Germany. I never said it was part of the wildlife series, did I. Who says you have to pay $70, you can get them in the $61-$63 range. I'm not saying its going to be a hit, I'm just saying only time will tell.
|
|
Pillar of the Community
Canada
5324 Posts |
lear is charging around 600.00 friday for the 1/4 oz. gold polar bear
|
|
Pillar of the Community
Canada
1723 Posts |
This is the first I've heard of this coin. I think its nice. Wouldnt mind grabbing one, but not at $600 for sure.
|
|
Page 2 of 2
|
Replies: 22 / Views: 5,620 |
Page 2 of 2
|