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 Replies: 14 / Views: 2,587 |
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Pillar of the Community
Canada
798 Posts |
I just got a note from the RCM that they are suspending bullion production temporarily because of the COVID-19 outbreak and the current price volatility. |
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Pillar of the Community
Canada
6768 Posts |
In the mail that I got, it wasn't mentioned "Bullion" but "Production".
From this I understand, that basically it refers to circulation and bullion, specially, that the following was added:
"We do however anticipate a longer suspension of production and shipping for our Numismatic collectable coins" ,
means all coin production affected.
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Pillar of the Community
United States
2408 Posts |
At this point it would be prudent to keep cash for essential items until things stabilize.
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Pillar of the Community
Canada
659 Posts |
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At this point it would be prudent to keep cash for essential items until things stabilize. @ canadian coins Agree 100%. We don't know how long this will last. Also, it's been reported that toilet paper is selling for $40 per 12 pack in some areas. That's at least 400% appreciation. Much better than NCLT, at least in the short term. Starting to act like a hot coin. |
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Pillar of the Community
 Canada
798 Posts |
A pack of 20 3M N95 dust masks are $300 CDN. I used to buy them for $19.99. We have laid off almost all our workers and we've donated our remaining stock to our local hospital.
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Rest in Peace
Canada
1360 Posts |
I watched an episode of 'Dirty Money' on Netflix. On this episode they were following the trade in illegal gold mining from South America to North American drug dealers - Though mentioned as a 'customer of a refinery' the narrator didn't suspect the RCM of collusion. A very interesting show - and certainly killed some time during this self imposed isolation. |
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Pillar of the Community
 Canada
665 Posts |
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At this point it would be prudent to keep cash for essential items until things stabilize. Not sure this is correct. The RCM only produces coins so there is not a great deal available that you can buy without significant weight and I doubt that most grocery stores would be happy with 3-4 rolls of $2 coins for a $150-$200 bill. Paper money is still generally available but to be honest... within the context of distancing and minimizing touch, I like the convenience of a credit card tap (doesn't need to actually touch). Hope everyone stays safe. Best wishes to all from the West coast of Canada. |
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Pillar of the Community
United States
2408 Posts |
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Not sure this is correct. Paper money is still generally available but to be honest... within the context of distancing and minimizing touch, I like the convenience of a credit card tap (doesn't need to actually touch). @vonigohcr - you missed my point, which was to avoid frivolous spending on NCLTs. Keep cash, in the sense of liquidity, as opposed to physical cash, bills, coins, etc. Stay safe. |
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Pillar of the Community
Canada
665 Posts |
@Canadian_coins.  I did miss your point and I agree with your liquidity advice. |
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Pillar of the Community
Canada
705 Posts |
Is it possible 2020 is going to be an ultra low mintage year for SMLs?
Or have a majority of them been minted and stockpiled prior to this coronavirus thing?
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Pillar of the Community
Canada
705 Posts |
Ive noticed the prices of 2020 SML and SML rolls climbing steadily
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Pillar of the Community
United States
2408 Posts |
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I did miss your point and I agree with your liquidity advice. |
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Pillar of the Community
Canada
6768 Posts |
So, in this period, do you try to load more silver bullion? Hunting after NCLT priced near bullion? Or trying to unload all you NCLT before it drops to bullion? Or keep NCLT in plans to sell, when silver will hit $100 / 1oz? Added: I've just read another forum, checked the Dealer, that was mentioned, and was surprised extremely. The silver priced near CAD 20 per 1 oz. But dealer priced absolutely ordinary bullion SML for CAD 64.90....and this is big dealer and not small level re-seller. Here: 1 oz 2001 Canadian Maple Leaf Flex Sealed Silver Coin https://silvergoldbull.ca/1-oz-2001...-silver-coinI have couple of 25-Anniversary sealed...didn't know that they worth so much Edited by Silveroid
03/28/2020 12:19 pm
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Rest in Peace
Canada
1360 Posts |
But, why would you buy 1 ounce 20 year old silver coins when you could get 2 ounces for the same price - from the same dealer:  |
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Pillar of the Community
Canada
6768 Posts |
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But, why would you buy 1 ounce 20 year old silver coins when you could get 2 ounces for the same price - from the same dealer: Absolutely correct. That's why was surprised. |
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Replies: 14 / Views: 2,587 |
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Posted 03/20/2020 9:46 pm
