| Author |
 Replies: 10 / Views: 2,368 |
|
|
New Member
Canada
33 Posts |
Why is it that I see ads for silver coins for sale like the $100 for $100 coins and the seller says $100 face value + silver bullion value....
it's either face value or the silver value.... unless they have found a way to magically separate the silver from the coin. I would love to see how they can do that!!
|
|
|
|
Pillar of the Community
 Canada
2360 Posts |
I have seen them sold as no risk, and I guess if in fact silver went up astronomically the $100 1 ounce coin could conceivably be worth more than $100. If silver went to $150 per ounce it could then be sold for it's bullion value. If bullion is below $100 per ounce like now, then you can take it at face value and trade it into the bank. Kind of a liquid investment.
|
|
Bedrock of the Community
Australia
21786 Posts |
Probably an inexperienced junk silver coin seller, with a 'one off' sale.
That would explain the rather confusing description.
|
|
Pillar of the Community
Canada
3049 Posts |
Not too sure I would call it an investment.. if I buy a coin for $100.. and 10 yrs later sell it for $100
|
|
Pillar of the Community
Canada
2366 Posts |
Gotta hate that inflation
|
|
Pillar of the Community
Canada
1505 Posts |
is it perhaps one of the RCM "make $$$" scams? |
|
Pillar of the Community
Canada
1192 Posts |
There was some semi-major retail website touting the $20for$20 coins as being worth $20+bullion value at the same time. I forget which one it was.
In short, you can't have your cake (silver coin) and eat (melt) it too.
|
|
Pillar of the Community
Canada
1505 Posts |
Dude,
was it CP? the delivery guys who just a minute ago advertised HOME delivery on TV?
|
|
Forum Kid
Canada
1074 Posts |
silverdon I like your analogy. very helpful thanks!
|
|
Pillar of the Community
United States
937 Posts |
Quote:
If bullion is below $100 per ounce like now, then you can take it at face value and trade it into the bank. Kind of a liquid investment. So if I go to the Friendly Neighborhood hardware store in Anyoldtowne, PEI will they let me pay for ten pounds of nails with the $100 for $100 coin, or will they tell me "Go pound nails"? From my very limited experience these coins are not accepted at face value. |
|
Bedrock of the Community
Canada
21584 Posts |
You are right Tryna.
They would probably tell you to "Go Pound". These coins were never expected to be circulated. The only way to redeem them is through a Bank although only some Banks will take them if you have an account with them.
|
| |
Replies: 10 / Views: 2,368 |
|
Posted 01/28/2015 7:39 pm
