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 Replies: 14 / Views: 2,346 |
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Pillar of the Community
United States
1116 Posts |
I was in my LCS today and he was trying to push a sale for 2011 SML by saying that In Canada, these particular coins sell with a premium higher than what was being asked locally, which was $2 over spot.
About a week ago a trobo posted that 2011's had a mintage of over 23 million not counting other wildlife coins. I fail to see how a coin from a year with the highest mintage would be selling for a high premium even if it was in its country of origin.
I did buy 2 coins and do not see any privy mark on the samples that I have.
Could what this coin shop is saying be true? I really don't have a lot of Canadian coins and bought these out of curiosity only and for the silver content. He wanted to sell me a roll of 25 but I really didn't have the wherewithall to make a purchase of that scale being so close to Christmas and other obligations weighing on me. Namely lack of funds..................
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Pillar of the Community
Canada
1723 Posts |
That's the word on the street. I noticed and commented in another thread ( cant remember which one) where guys from the states were saying that its cheaper to buy maples there than it was in Canada. Its hearsay but that's what I've been told. Here locally the best price I have found is $6 over spot. Most online places are selling for $3 over spot plus shipping so $2 sounds not to bad out the door.
Edited by samsnate
12/12/2012 10:34 pm
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Pillar of the Community
Canada
1502 Posts |
^^ agreed. Most Canadian stacker/collectors I come across prefer and are willing to pay more for a standard SML than a silver eagle or buffalo (or philharmonic).
But, most dealers I know also buy back with no premiums added.
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Pillar of the Community
Canada
2366 Posts |
You pay a premium for it being a recognized and portable form of silver. The price you paid is fine and probably slightly better than you'd get on ebay etc. Some years do sell at a significant premium (ie mid-90's) but 2011 isn't one of them. |
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Pillar of the Community
Canada
3692 Posts |
The truth is this: Things with a higher demand cost more. In one particular store I know of, ASEs cost more than SMLs, and Philharmonics are just a few cents more expensive than generic "buffalo" rounds and bars cost more than SMLs. In all honesty, it depends what market you visit because it has a lot to do with location. Most other places the generic rounds cost about the same as bars, but here the bars are close in price to ASEs. As stated above, recognizability is an important aspect in bullion. For something mass-produced it must have a significant quality in it.
Now this 2011 SML you speak of, ghostrider, was there a wildlife animal on it? If so, there exists a premium on it. If not, it's really quite common. The premium only exists in markets where the demand for that item is high. The highest premium I know is usually between 5-10% for SMLs. Same for ASEs but still higher than SMLs, and that's locally.
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Pillar of the Community
Canada
1528 Posts |
Side Question: What's the difference between the 1998 sml with titanic Privy and the 2012 version?
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Pillar of the Community
United States
1002 Posts |
Quote:
Side Question: What's the difference between the 1998 sml with titanic Privy and the 2012 version? The Queen effigy; the 2012 finish is almost white; the privy marks are slightly different. Both coins look very nice. 1998:  2012:  |
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Pillar of the Community
Canada
1528 Posts |
Thank you. I saw the 1998 selling cheaper than the 2012. Might pick one up.
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Pillar of the Community
Canada
663 Posts |
Curious, what are the mintages of the two titanic-privy silver maples? I have the 2012, but not the first one.
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Pillar of the Community
Canada
1528 Posts |
I think with the 1998, it is 26000 where as the 2012 it is 25000.
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Pillar of the Community
Canada
3690 Posts |
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Pillar of the Community
Canada
1528 Posts |
is $50 fair price for 1998 or is it too much?
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Pillar of the Community
1007 Posts |
I think $50 is a fair price.
Edited by Rockdaddy
01/07/2013 11:37 pm
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Valued Member
Canada
173 Posts |
What does $2 above spot mean?
A local collector has offered to sell me nine 2011 SML, having never bought silver I don't even know what to offer.
Any suggestions appreciated :D
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Pillar of the Community
1007 Posts |
$2 above the current price of silver is a good deal if they're in good shape. So spot is just the live price of the metal.
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Replies: 14 / Views: 2,346 |
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Posted 12/12/2012 10:28 pm
