Silver With A Guarantee Face Value - Coin Community Forum

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Author	Replies: 6 / Views: 1,482
mkfarm Pillar of the Community United States 667 Posts	Posted 12/23/2011 10:04 am Would you buy silver if it had a 100% guarantee face value of $20? We are talking less than an ounce and no matter what the market does it would never be worth less than $20. It is a 1/4 ounce of silver with a dollar value of $20 and it currently sells for $24.00. At 1/4 of an ounce the current value of the silver is at $7.31. Thus the premium is high. Compare the to an ASE which has a face value of $1 and silver price of $29.25. Interesting to think about. Edited by mkfarm 12/23/2011 10:05 am Report this Post to the Staff

rastatodd Valued Member United States 487 Posts	Posted 12/23/2011 10:23 am I just bought a $20 Canadian "Canoe" Commemorative. It has only 7.98 grams silver but it is worth the $20 face Canadian. If you live in Canada at the time these were issued you paid $20 cash for one commemorative. A good deal if you were living there or say visiting Canada at the time. Buying the coins from the Canadian Mint wasn't cost affective due to the high shipping charge. I paid $20.96 for mine in a trade. Thought it would be a hedge against the US dollar against the Canadian dollar. The Canada dollar is trading .98 to the US dollar today. I'm betting that in the future with Canada being rich in natural resources (oil, precious metals and even water), their dollar will be worth more than the US dollar. But one must watch the premiums they are fetching for this scenario to work. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 12/23/2011 6:53 pm MK... I might buy ONE of those as a curiosity but would not buy a bunch of them. I've been around the block enough times to be VERY skeptical of "guarantees". Most of them are good... until they are not and we never know when that will be. As to Canada and their dollar... I like Canada, a lot. I've been there a few times and very much enjoyed the visits. As a nation, it seems considerably better run than the US. I disagree with their gun laws, many of which are quite Draconian and am not sure that I would like their health care system. That said, Canada is a huge trading partner of the US. If our economy falters it will adversely affect Canada to a considerable degree. It is good that they have a lot of raw materials, though. That makes for a strongly supported economy these days. Report this Post to the Staff
poboxw Pillar of the Community Canada 1502 Posts	Posted 12/23/2011 7:01 pm should head over to the Canadian Coins NCLT subforum to check out the discussion on these $20 silver coins. They are legal tender but not exactly usable. Report this Post to the Staff
mkfarm Pillar of the Community United States 667 Posts	Posted 12/23/2011 7:42 pm Neat looking coin so I ordered just one tonight for the heck of it. I read through the info and it looks like it wouldn't work the way I thought it would. Thus it is no over priced bullion. Still for a few dollars having one is cool. Report this Post to the Staff
everything Valued Member United States 493 Posts	Posted 12/23/2011 10:30 pm I also bought three of the canadian canoes this year when I heard they were going to sell out. I was able to use a special code for free shipping, then I had to pay some kind of tax which was like two bucks. I just figured what the heck, basically they are a canadian commemorative coin with the $20 dollar gimmick attached to it. Do not buy, for instance I paid $62 for what?, 2/3 oz. of silver?, go buy two oz. for that instead. Still, I see you bought it just for the heck of it like I did. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 12/24/2011 9:07 pm Quote: Still, I see you bought it just for the heck of it like I did. Yep and there's not a thing wrong with that. Having a few unusual pieces in a collection can really give it some additional pizzazz. Report this Post to the Staff
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