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 Replies: 31 / Views: 5,985 |
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Pillar of the Community
Canada
706 Posts |
Hi I'm new to SML collecting. I usually collect collector coins but I want to invest in some SMLs as it's neat to buy coins and watch their value rise and fall. That stupid CIBC promo got suckered into buying SMLs now.  I want to know...how do you guys protect yourselves from buying counterfeits? Are they really noticeable or are there some fakes out there that are completely uncatchable to the naked eye? Where do you guys buy your bullion from? Do you recommend buying off eBay/kijiji or sticking to reputable stores like Canadian Coin/Currency, Colonial Acres, Gatewest etc? Have you been stiffed with fakes before? http://www.dragonbullion.com/conten...af-coin-9999Is $26 a fair price to pay for a 1oz coin from 2013? Has anyone had experience with Dragon Bullion? Any recommendations for the GTA area? Sorry for these newb questions :D Lastly, is it possible to find older years at spot prices from people wanting to just unload their coins on Kijiji or is this unlikely? How about getting privy marks at spot price? Edited by wilsonwu89
03/06/2014 11:00 pm
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Pillar of the Community
Canada
1823 Posts |
Edited by yingyang
03/07/2014 12:05 am
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Valued Member
Canada
109 Posts |
Some reputable dealers actually sell their products on ebay, as well as through their own websites. But then you're usually looking at the same price range. I've found that bidding on items can actually lead the SML to sell for far over the value of the coin, in some cases. Your best bet is to buy from reputable sources. Some places, like SilverTowne offer free shipping on 'new' items. I got my 2013 SMLs from them for free shipping so it's actually an awesome deal. As I am relatively new to bullion buying as well, I don't tend to stick to one dealer. My only recommendation is don't try and buy anything that looks like a great deal. I haven't had any experience with Dragon Bullion, myself, but the $26 does sound like a fair price. Some older bullion coins you can still find at spot price (but that's current price, not what it was back then). I hope you can get some answers from someone who knows a lot more. Are you interested in collecting SMLs, as in getting one from each year, or buying them for an investment purpose? |
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Pillar of the Community
 Canada
706 Posts |
More on the collector's side. :)
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Pillar of the Community
Canada
1823 Posts |
If you are near Spadina and Queen St. W well worth going their prices are reasonable,and $26 is a fair price . Quote:
Are you interested in collecting SMLs, as in getting one from each year, or buying them for an investment purpose? The only time I will sell them is when silver hits $ 500 oz You are from Markham ever go to Canadian coin and currency a little pricey. Edited by yingyang
03/07/2014 12:18 am
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Valued Member
Canada
165 Posts |
I won a bid on ebay lately for a 1988 silver Maple (first year issued) in original plastic RCM packaging, probably MS65 or better, for $31 + $2 shipping! Not at spot but these usually go for $38+. I did the weight and magnet test and everything looks good! http://www.ebay.com/itm/16122312990....m1497.l2649 |
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Valued Member
Canada
373 Posts |
Weight, size, magnetism and striking.
Get a digital scale, digital callipers, a known legit sample and a rare earth magnet.
btw, SML key date is 1997.
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Pillar of the Community
Canada
2366 Posts |
Are you just looking at just the regular bullion issues or the NCLT versions as well? If the latter, get your hands on the latest Charlton Vol 2 and check the section in the back. These are all the privy marks, holograms, sets etc.
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Pillar of the Community
Canada
6768 Posts |
The Privy SMLs and numismatic (special editions), IMO, will be much more interesting to collect, rather than just a bullion.
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Pillar of the Community
Canada
815 Posts |
Scale, magnet, caliper, loupe. Know the measurements, and buy from big dealers where possible, and buy new maples whenever possible.
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Pillar of the Community
Canada
6768 Posts |
Quote:
Scale, magnet, caliper, loupe. Know the measurements, and buy from big dealers where possible, and buy new maples whenever possible. But buying new maples whenever possible - this sure makes collection turn to silver stack.... |
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Pillar of the Community
United States
3789 Posts |
Wilson- congrats on getting into collecting the SMLs. I am not a big fan of the series.. I have not gotten many in while, however, the last two I got were a slabbed 25th anniversary one and recently the 2014 replica silver maple leaf with the WMF privy mark.
I do suggest this tho, follow Silveroid's advice and suggestions. He will help you find the really cool, unique coins and trust me, you wont regret having him help you along.
He was very helpful in pointing me in the direction of finding the recent Maple with the World Money Fair privy and another non Maple leaf coin.
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Valued Member
Canada
115 Posts |
after reading this, looks like I have a noob question. what does SML stands for? there are so many achronyms, it's hard to keep track
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Valued Member
Canada
299 Posts |
Silver Maple Leaf (bullion coin) :)
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Pillar of the Community
Canada
6768 Posts |
Quote:
after reading this, looks like I have a noob question. what does SML stands for? there are so many achronyms, it's hard to keep track For the last several years, I learnt, that one of the best catalogs - this is.....eBay Almost all info (not necessary correct) with the pictures and estimated pricing. |
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Pillar of the Community
Canada
3049 Posts |
I'm going to probably go against the grain a bit here but I feel I need to voice my opinion.
Almost all SML's are treated as bullion. Especially in the secondary aftermarket. So while you may pay a premium to have a nice little privy mark on it.. many places don't care and will buy it for spot and perhaps a minor premium of .25 - .75 cents b/c it's a SML and government issued..
I think it's neat that you want to collect many of the dates... I did too... I usually end up buying a monster box or two for each year.. some I sell.. some I trade and some I keep. If you know many other stackers in your area you can usually work together and trade dates and make up a date set quite easily.
Now the things you may need to test if one is fake:
a) a good eye.. know what an SML is supposed to look like and feel like in your hand... some of the bad fakes out of china you can spot out really easy.
b) a digital scale and preferably one that goes to 3 decimal places so you can do a specific gravity test
c) earth metal magnet - you can buy 'em but I just found an old computer and took it apart... in the harddrive where the reader is an earth metal magnet is used to attach the needle heads to read the HD disk. It doesn't take long to remove and generally FREE if you have a computer you were planning on getting rid of.
d) calipers - not needed that much as the fakes I have seen have been of the same dimension just way off on the weight, but still good to have.
e) acid testing kit for silver and gold
With these tools and the right education you will be on your way to buying PM's.. right now I would suggest you buy from people and dealers that you trust. As you get more and more familiar with the product feel free to branch out.
As for web sites... in Canada I use silvergold bull... I like their selection and their prices and shipping.. it's very easy to order and I feel safe with them.
But I repeat my note..... don't pay extra premiums for government issued bullion... privy marks, takus, pandas, what ever! Get some shiney that looks nice and that you like... otherwise your best bet is to minimize premiums and just get FINE .999 as close to spot as possible... when you sell it will pretty much all be priced the same really.
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Replies: 31 / Views: 5,985 |
Posted 03/07/2014 12:04 am
