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 Replies: 21 / Views: 4,112 |
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Pillar of the Community
Canada
798 Posts |
I thought some of you might find this interesting, as I didn't even know this 'coin' existed. It is the 2016 Canada 1/10th of an ounce Gold $25 Legal Tender Wafer, commissioned by Goldline Inc. It comes in a blister pack of 5 wafers. Has anyone else seen or bought these? From what I understand, Goldline had difficulty moving them off their books.  |
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Pillar of the Community
 Canada
798 Posts |
Also interesting to note that in the Mint's version of the globe, the Arctic Ocean is by far the largest Ocean of them all! Our poor Earth is suffering from late-stage male baldness on this 'coin'
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CCF Master Historian of USA Commemoratives
 United States
12261 Posts |
I don't recall seeing these wafers, but I tend to not go looking for them. IMO, there are too many exclusive arrangements between the RCM and precious metals dealers (like Goldline) for these types of pieces. As a result, I have very little interest in them. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
Canada
6768 Posts |
Correct Quote:there are too many exclusive arrangements between the RCM and precious metals dealers Usually, we aware about variety of the privy marks on the Standard SML. But there are some special design coins, that we have hardly seen them, and the low awareness causes to lack of interest. Take a look at this nice piece: do you recall seeing this?  |
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Pillar of the Community
Canada
5239 Posts |
So, what do those $25 wafers sell for, what premium over bullion?
I would buy one, if it were close to bullion.
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Pillar of the Community
Canada
5324 Posts |
It's about 165 US per unit in a slab of five at todays bullion price or about 25% premium over bullion
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Pillar of the Community
Canada
3733 Posts |
my local dealer has a set with all 5 in it, he was asking 100$ over spot, for all 5 bars. so 20$ over spot per bar.
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Pillar of the Community
Canada
5324 Posts |
So he is only charging 850.00 Canadian for the set of five ?
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Pillar of the Community
Canada
3733 Posts |
spot is 1564.. so i/2 ounce is 782$ plus 100$, 882$ Canadian.
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Pillar of the Community
Canada
798 Posts |
Silveroid,
I have not seen that coin before but apparently NGC has graded 164,000 of them in MS70 for a Chinese bullion bank.
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Pillar of the Community
710 Posts |
Yes I saw these at a precious metals dealer but extremely overpriced.
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Pillar of the Community
Canada
6768 Posts |
Quote:
I have not seen that coin before but apparently NGC has graded 164,000 of them in MS70 for a Chinese bullion bank. Nice info, thank you. That's the point, there is some commissioned coins, minted by RCM, that we hardly aware of them. |
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Pillar of the Community
Canada
5324 Posts |
This has to be a typo error by NGC, there are very few RCM NCLT coins that grade 70 being made from ultra slow 1 or two coins a minute with perfect dies, while bullion products I assume is produced like circulation coins where quality is not a main goal. You just have to submit too many units to attain 164000 ms70 using logic |
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Pillar of the Community
Canada
798 Posts |
John, that number is real. I actually called them on it. They were all processed in the Hong Kong office. I was told that on a large order like that, the client can request that MS70 be the minimum grade, and everything below that can be given a genuine grade. I've never seen one in a holder. When I first noticed this, there were 79,000 graded. Now there is 164,000. The are Year of the Rooster coins in MS with a $15 denomination. If you look, there have also been submissions of 1 million coins at a time in the Eagles and Pandas series. I have had to wait weeks for a submission before because NGC was processing submissions of 250,000 coins or more in one order. Interesting to note that none of these massive orders of coins ever make it to ebay. |
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Pillar of the Community
Canada
5324 Posts |
If NGC just courtesy grade volume coins to grade 70, with these amounts genuine, then it defeats the purpose of a ms 70 coin, it becomes slightly above bullion value if there are well over 100,000 units graded 70. I can't even imagine how many graders and the buildings needed to grade a million coins or just 164000
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Pillar of the Community
Canada
798 Posts |
I agree. And if the purpose is simply to invest in silver, why not just buy serialized 1000oz bars?
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Replies: 21 / Views: 4,112 |
Posted 09/11/2018 4:05 pm
