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Why Canadian silver dollar is so cheap?

 
 
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Valued Member
Canada
114 Posts
 Posted 06/11/2018  02:33 am Show Profile   Check silverai's eBay Listings Bookmark this topic Add silverai to your friends list Get a Link to this Message
Many excellent condition silver dollar sold at or blow melt value (below $13) on eBay. I think demand and supply is the biggest reason...

Does the resale value discourage you from collecting Canadian silver dollar?
Pillar of the Community
United States
2045 Posts
 Posted 06/11/2018  04:04 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
"Spot silver" on the NY markets (the official scrap price) is $16.81 US. A Canadian silver dollar is .6 oz of silver, so scrap silver is a tad over $10US. If it is selling for $13, then it's not "below melt" .. it's 30% more than melt. Since circulated Canadian silver dollars no longer weigh what they did when minted, you can sometimes get 85-90% of scrap from a dealer that you know but usually about 75-80%, depending upon the amount of wear. Now, if you are talking Canadian dollars (and eBay usually isn't), then $10 US is about $13 Canadian.
Valued Member
Canada
114 Posts
 Posted 06/11/2018  04:24 am  Show Profile   Check silverai's eBay Listings Bookmark this reply Add silverai to your friends list Get a Link to this Reply
Yes, $13 CAD not USD.
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Canada
284 Posts
 Posted 06/11/2018  07:59 am  Show Profile   Bookmark this reply Add KHatt to your friends list Get a Link to this Reply
And keep in mind postage,etc when looking on eBay.

I collect Canadian silver, but for the later stuff I mostly buy MS ... if a well circulated example is only worth melt, I figure it will only ever be worth melt. I'd rather pay a little extra and get something in higher grades.
Pillar of the Community
Canada
2041 Posts
 Posted 06/11/2018  09:04 am  Show Profile   Bookmark this reply Add oriole to your friends list Get a Link to this Reply
When I was getting bulk silver, I was very glad that the Canadian silver dollars were going for melt. Quite a few people still do that.
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Canada
7219 Posts
 Posted 06/11/2018  10:31 am  Show Profile   Bookmark this reply Add DBM to your friends list Get a Link to this Reply
If you check eBay sold listings, out of the thosands that have sold in the last three months,only 6 silver dollars have gone for 13 dollars or less including shipping.
The OP is blowing smoke.

"Dipping" is not considered cleaning...
-from PCGS website
Edited by DBM
06/11/2018 10:33 am
Pillar of the Community
Canada
1414 Posts
 Posted 06/11/2018  12:08 pm  Show Profile   Check TheCoinHunter's eBay Listings Bookmark this reply Add TheCoinHunter to your friends list Get a Link to this Reply

Quote:
f you check eBay sold listings, out of the thosands that have sold in the last three months,only 6 silver dollars have gone for 13 dollars or less including shipping.
The OP is blowing smoke.


I agree. I launch many .99 cent auctions for Canadian silver dollars and the cheapest I've sold was just over $13 plus 2.20 shipping plus tax which varies by province. But most will sell in the $14-$20 range plus 2.20 shipping plus tax. I consider these auctions store promo items. Last but not least, although we talk about silver dollars (and 50 cent pieces) in terms of "melt" not many actually get melted. Most remain in the market and will make the rounds between individuals that chose to hold silver in that format. Smaller denominations are a different story.
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United States
1870 Posts
 Posted 06/11/2018  1:58 pm  Show Profile   Check Mister Kairu's eBay Listings Bookmark this reply Add Mister Kairu to your friends list Get a Link to this Reply
I see a ton of these silver Canadian dollars in proof-ish/BU condition for spot price at my LCS. I don't buy them anymore because even at melt price I can't make anything off them after eBay fees they go pretty cheap (in my experience at least).
Valued Member
Canada
114 Posts
 Posted 06/11/2018  6:12 pm  Show Profile   Check silverai's eBay Listings Bookmark this reply Add silverai to your friends list Get a Link to this Reply

Quote:
I see a ton of these silver Canadian dollars in proof-ish/BU condition for spot price at my LCS. I don't buy them anymore because even at melt price I can't make anything off them after eBay fees they go pretty cheap (in my experience at least).


Exactly! May be you can get $1 or $2 above spot price but after eBay and PayPal fee, the final value is still below spot.
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United States
2045 Posts
 Posted 06/11/2018  7:26 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
If you are collecting/buying silver dollars on eBay, then there are cheaper places to go.... LCS or shows/wholesalers. If you are selling on eBay, then go broke selling scrap with Canada Post fees, let along eBay & Paypal.
Valued Member
Canada
166 Posts
 Posted 06/13/2018  01:43 am  Show Profile   Bookmark this reply Add twoods to your friends list Get a Link to this Reply

I think a Canadian Silver Dollar bought close to $13 is a very good bargain considering the beauty of the coin you are buying, and for it's ability to increase in value with an increase in silver prices...at one point not too long ago these were selling for a lot more than $13 Canadian

Also, I am glad to hear from TheCoinHunter's post that not many of the silver dollars actually hit the melting pot...the thought of melting down old coins makes me cringe!
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