Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?

Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

RCM Suspends Bullion Production

 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 14 / Views: 1,171Next Topic  
Pillar of the Community

Canada
793 Posts
 Posted 03/20/2020  6:14 pm Show Profile   Bookmark this topic Add JGG to your friends list Get a Link to this Message
I just got a note from the RCM that they are suspending bullion production temporarily because of the COVID-19 outbreak and the current price volatility.
Pillar of the Community
Canada
6609 Posts
 Posted 03/20/2020  7:22 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list Get a Link to this Reply
In the mail that I got, it wasn't mentioned "Bullion" but "Production".
From this I understand, that basically it refers to circulation and bullion, specially, that the following was added:
"We do however anticipate a longer suspension of production and shipping for our Numismatic collectable coins" ,
means all coin production affected.
Pillar of the Community
United States
2341 Posts
 Posted 03/20/2020  9:46 pm  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
At this point it would be prudent to keep cash for essential items until things stabilize.
A picture is worth a thousand words.
Pillar of the Community
Canada
631 Posts
 Posted 03/21/2020  03:50 am  Show Profile   Bookmark this reply Add Looney4Numi to your friends list Get a Link to this Reply

Quote:
At this point it would be prudent to keep cash for essential items until things stabilize.

@ canadian coins

Agree 100%. We don't know how long this will last.

Also, it's been reported that toilet paper is selling for $40 per 12 pack in some areas. That's at least 400% appreciation. Much better than NCLT, at least in the short term. Starting to act like a hot coin.
Pillar of the Community
Canada
793 Posts
 Posted 03/21/2020  07:11 am  Show Profile   Bookmark this reply Add JGG to your friends list Get a Link to this Reply
A pack of 20 3M N95 dust masks are $300 CDN. I used to buy them for $19.99. We have laid off almost all our workers and we've donated our remaining stock to our local hospital.
Pillar of the Community
Canada
1227 Posts
 Posted 03/21/2020  2:18 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
I watched an episode of 'Dirty Money' on Netflix. On this episode they were following the trade in illegal gold mining from South America to North American drug dealers - Though mentioned as a 'customer of a refinery' the narrator didn't suspect the RCM of collusion. A very interesting show - and certainly killed some time during this self imposed isolation.
Valued Member
Canada
370 Posts
 Posted 03/23/2020  3:20 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply

Quote:
At this point it would be prudent to keep cash for essential items until things stabilize.


Not sure this is correct. The RCM only produces coins so there is not a great deal available that you can buy without significant weight and I doubt that most grocery stores would be happy with 3-4 rolls of $2 coins for a $150-$200 bill. Paper money is still generally available but to be honest... within the context of distancing and minimizing touch, I like the convenience of a credit card tap (doesn't need to actually touch).

Hope everyone stays safe. Best wishes to all from the West coast of Canada.
Pillar of the Community
United States
2341 Posts
 Posted 03/24/2020  12:00 am  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
Not sure this is correct. Paper money is still generally available but to be honest... within the context of distancing and minimizing touch, I like the convenience of a credit card tap (doesn't need to actually touch).


@vonigohcr - you missed my point, which was to avoid frivolous spending on NCLTs.

Keep cash, in the sense of liquidity, as opposed to physical cash, bills, coins, etc.

Stay safe.
A picture is worth a thousand words.
Valued Member
Canada
370 Posts
 Posted 03/24/2020  11:45 am  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply
@Canadian_coins.


I did miss your point and I agree with your liquidity advice.
Pillar of the Community
Canada
617 Posts
 Posted 03/25/2020  9:37 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Is it possible 2020 is going to be an ultra low mintage year for SMLs?

Or have a majority of them been minted and stockpiled prior to this coronavirus thing?
Pillar of the Community
Canada
617 Posts
 Posted 03/25/2020  9:37 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Ive noticed the prices of 2020 SML and SML rolls climbing steadily
Pillar of the Community
United States
2341 Posts
 Posted 03/28/2020  12:43 am  Show Profile   Check canadian_coins's eBay Listings Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
I did miss your point and I agree with your liquidity advice.




A picture is worth a thousand words.
Pillar of the Community
Canada
6609 Posts
 Posted 03/28/2020  12:08 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list Get a Link to this Reply
So, in this period, do you try to load more silver bullion?
Hunting after NCLT priced near bullion?
Or trying to unload all you NCLT before it drops to bullion?
Or keep NCLT in plans to sell, when silver will hit $100 / 1oz?

Added:
I've just read another forum, checked the Dealer, that was mentioned, and was surprised extremely.
The silver priced near CAD 20 per 1 oz.
But dealer priced absolutely ordinary bullion SML for CAD 64.90.

...and this is big dealer and not small level re-seller.

Here:

1 oz 2001 Canadian Maple Leaf Flex Sealed Silver Coin

https://silvergoldbull.ca/1-oz-2001...-silver-coin

I have couple of 25-Anniversary sealed...didn't know that they worth so much
Edited by Silveroid
03/28/2020 12:19 pm
Pillar of the Community
Canada
1227 Posts
 Posted 03/28/2020  2:18 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
But, why would you buy 1 ounce 20 year old silver coins when you could get 2 ounces for the same price - from the same dealer:

Pillar of the Community
Canada
6609 Posts
 Posted 03/28/2020  5:15 pm  Show Profile   Bookmark this reply Add Silveroid to your friends list Get a Link to this Reply

Quote:
But, why would you buy 1 ounce 20 year old silver coins when you could get 2 ounces for the same price - from the same dealer:


Absolutely correct.

That's why was surprised.
  Previous TopicReplies: 14 / Views: 1,171Next Topic  
 
To participate in the forum you must log in or register.

Coin Community Member eBay Sales

Certified Coins   Certified VAMs   Certified Errors  




Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2020 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2020 Coin Community Forums
It took 0.67 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05