Canada Coin Metal Issues - Coin Community Forum

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Author	Replies: 6 / Views: 1,916
thq Pillar of the Community United States 3342 Posts	Posted 01/15/2023 08:57 am I'm reopening this topic because I've also run into some peculiar Canadian bullion "coins" which have been issued in coin metal rather than at high purity. -1976 Olympic silver $5, which were issued as sterling (925 fine - .7225 oz silver content). -1976-1986 $100 gold coins which contain 1/2 oz gold, but are 900 fine. After the 1980's Canada went to high purity bullion coins. The 1976-1986 gold coins are currently priced $100 lower than a 1/2 oz Maple Leaf. The 1976 $5 silver coins currently sell for $3-5 less than cull Morgan dollars with the same silver content. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Edited by thq 01/15/2023 09:10 am Report this Post to the Staff

DBM Pillar of the Community Canada 9862 Posts	Posted 01/15/2023 10:55 am The Olympic coins and the Early $100 gold coins were never bullion coins, strictly granny-bait collectibles Why would anyone expect them to have a higher precious metal content? "Dipping" is not considered cleaning... -from PCGS website Report this Post to the Staff
thq Pillar of the Community United States 3342 Posts	Posted 01/15/2023 12:47 pm I know that they were sold as ritzy bling collectibles. The fancy presentation cases they came in are normally gone. But at the time of issue, the face values were reasonable approximations of bullion prices. Gold was in the $100-150/oz range, and silver around $4/oz, in 1976. So the metal content of both were below melt. In theory they could have circulated as coins, and not disappeared from circulation for a few years. That's the reason I think coin metal was used for them. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Edited by thq 01/15/2023 12:50 pm Report this Post to the Staff
Arkie Pillar of the Community United States 2637 Posts	Posted 01/16/2023 10:07 pm Morgan dollars are .7734, not .7227. FWIW, JM Bullion was buying Canadian 70s Olympic coins above spot, which is the first time I've seen dealers offer more than spot. Report this Post to the Staff
thq Pillar of the Community United States 3342 Posts	Posted 01/16/2023 10:50 pm Worn down cull Morgans are similar in silver content to the mint Canadian pieces. The point was that these coins sell at low premiums compared to other bullion. "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Report this Post to the Staff
Arkie Pillar of the Community United States 2637 Posts	Posted 01/17/2023 08:15 am Morgans have a lot more recognition, and therefore more demand, than any nation's Olympic coins in the US. Report this Post to the Staff
thq Pillar of the Community United States 3342 Posts	Posted 01/17/2023 09:56 am I'm not trying to belabor this arkle, but these coin metal issues appear to be sold at a low premium compared to high purity. Here's a 1982 US example. 1/2 oz gold but made of 90/10. https://www.apmex.com/product/28950...lloyd-wright Like the Canadian $100, it sells for $100 less than a 1/2 oz Maple Leaf. 10% off the premium. Maybe they're treated as just scrap metal, like jewelry and dental gold? "Two minutes ago I would have sold my chances for a tired dime." Fred Astaire Edited by thq 01/17/2023 10:30 am Report this Post to the Staff
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