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 Replies: 12 / Views: 3,232 |
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Valued Member
Canada
159 Posts |
So I just bought some 1oz Silver Maple Leaf coins.
How come there is a face value, it says its worth $5 dollars. This isn't the real price of these Silver Maple Leafs.
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Moderator
 United States
6563 Posts |
That's not a noob question. Most countries that mints bullion coins put a value to them but I'm honestly not sure why either.  |
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Pillar of the Community
United States
2734 Posts |
These types of coins are "non-circulating legal tender". The face value is nominal, provided only to establish the coin as legal tender. Their real value is their base metal value ("bullion value"), but there are some advantages to having bullion in a 'legal tender form' versus bars or rounds. Some jurisdictions will tax bars or rounds, but not legal tender coins. |
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Pillar of the Community
Canada
1082 Posts |
That's exactly it: witness gold coins, where an English sovereign is worth way more than L1, or a Krugerrand was worth way more than a Rand, based on bullion value.
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Valued Member
 Canada
159 Posts |
I was trying to explain to my younger brother about Silver as an investment, I showed him a coin. He laughed and said I bought a $5 dollar coin for $20 bucks. He doesn't get it.  Next time, when I go to the bank to buy more rolls, I'm going to ask if they have any $5 dollar coins yet and throw it on the counter and see what he/she says. hehehe.  I would love to buy a box of $5 dollar coins. Edited by Coinage
01/11/2009 9:22 pm
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Moderator
United States
6563 Posts |
Doubt it but I'll give you $6 for it  |
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Pillar of the Community
Canada
1082 Posts |
Don't laugh -- I can actually see the day when we do have a circulating $5 coin. Of course, in the States, they will STILL be trying to get the populace to accept a $1 coin, at that time....  |
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Bedrock of the Community
United States
12437 Posts |
The 1oz American Silver Eagle has a $1 face value, the Gold Eagle is $50, and the Platinum Eagle is $100. Definitely do not want to spend them for face though  |
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Valued Member
Canada
159 Posts |
oh yeah, there was a rumor that Canada would have $5 coins in circulation... I'm wondering if they got confused with the Silver Maple Leafs. Have you guys heard of the $5 coin rumor?
Edited by Coinage
01/11/2009 9:41 pm
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Valued Member
United States
135 Posts |
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Valued Member
Canada
159 Posts |
oh man, I wouldn't doubt they would put Advertising on coins, one day. Coca-Cola Looney, I bet Coke would totally shell out money for that to happen and it would save money for the country. haha! |
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Pillar of the Community
Canada
1931 Posts |
I don't know how anyone else feels but if we end up with $5 circulating coins I'm moving back to the states for good! My wallet gets heavy enough as it is without adding yet another metal currency. I miss the ones and twos still so the fives being gone too would definitely suck.
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Valued Member
Canada
159 Posts |
edit... Thought I shouldn't post this info on the net.  Don't want to give kids the wrong idea. haha.  never mind. Edited by Coinage
01/12/2009 05:47 am
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Replies: 12 / Views: 3,232 |
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Posted 01/11/2009 8:55 pm
