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New $20 4 $20

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Valued Member
coinsoldier's Avatar
Canada
85 Posts
 Posted 02/06/2011  6:48 pm  Show Profile   Bookmark this reply Add coinsoldier to your friends list Get a Link to this Reply
Another one just sold on auction on ebay for $56.00
There were 14 different bidders for a total of 22 bids. The 4 highest bids from 4 different bidders were $56.00 $55.00 $50.01 $45.50
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canadian_coins's Avatar
United States
2408 Posts
 Posted 02/06/2011  6:56 pm  Show Profile   Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
That's unbelievable. The coin isn't even sold out yet. What's up with that?!
Valued Member
coinsoldier's Avatar
Canada
85 Posts
 Posted 02/06/2011  7:55 pm  Show Profile   Bookmark this reply Add coinsoldier to your friends list Get a Link to this Reply
ebay sellers are offering pre-orders to be shipped after mid February. I can get my hands on about 40 coins, but I never put them on auction until I have them in hand. I hope thw trend remains above $40.00 but I expect it will settle in the low 30s.
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canadian_coins's Avatar
United States
2408 Posts
 Posted 02/06/2011  8:15 pm  Show Profile   Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
There may be tens of thousands more coins to be had @ face value $20 ! Only the unaware (non-CCF members ) could be spending that kind of money right now.
Valued Member
rodime's Avatar
Canada
276 Posts
 Posted 02/06/2011  8:34 pm  Show Profile   Bookmark this reply Add rodime to your friends list Get a Link to this Reply
... or there may not be tonnes available. Even though it's NCLT (and tough to redeem), I bet there are tonnes of people who don't realize that and are getting their coins anyways.

Also, it may be non-canadian bidders.
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dialog_gvf's Avatar
Canada
1581 Posts
 Posted 02/06/2011  9:32 pm  Show Profile   Bookmark this reply Add dialog_gvf to your friends list Get a Link to this Reply

A 200,000 mintage is huge by today's standards. I think the last $20 coin to see it individually was the Calgary Olympic (1 ozt. ASW) $20 coins, which commonly sold slightly over face value until silver shot through $20 an ozt (I purchased a set of 10 coins about three years ago for $210).

Usually the precious metal content value of NCLT is way above face value. This $20 coin is more like seigniorage. It's a different beast.

It seems we need to come up with a good nickname. It isn't properly a Maple Leaf because it isn't labelled with a specific ozt weight.

"$20 Fine Silver Commemorative Coin" is descriptive. Not a name.




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dialog_gvf's Avatar
Canada
1581 Posts
 Posted 02/06/2011  9:33 pm  Show Profile   Bookmark this reply Add dialog_gvf to your friends list Get a Link to this Reply

And, what exactly is it commemorating?
Valued Member
rodime's Avatar
Canada
276 Posts
 Posted 02/06/2011  11:36 pm  Show Profile   Bookmark this reply Add rodime to your friends list Get a Link to this Reply
lol It's commemorating record profits for the mint.
Valued Member
NickleHalfDime's Avatar
Canada
94 Posts
 Posted 02/07/2011  01:31 am  Show Profile   Bookmark this reply Add NickleHalfDime to your friends list Get a Link to this Reply
Call it the Tweeny?
New Member
jimgimli's Avatar
Canada
39 Posts
 Posted 02/07/2011  03:04 am  Show Profile   Bookmark this reply Add jimgimli to your friends list Get a Link to this Reply
to anyone paying taxes on these coins....I would call and request a refund from the mint as pure precious metals are tax exempt....please correct me if I am wrong this is what I have understood for years!
i avoid buying anything less than pure silver from the mint just for this reason, I hate taxes...
Valued Member
commoncents13's Avatar
Canada
248 Posts
 Posted 02/07/2011  06:41 am  Show Profile   Bookmark this reply Add commoncents13 to your friends list Get a Link to this Reply
Oh my god!It's
---I cant believe the fuss supposedly on ebay! I just don't see it. Those that are buying it cant know that it is for sale for $20 from the mint, it's not even posted if you look and have to wonder if the bids are planted to get things stirred.
---It's a 1/4 oz of silver coin that the banks wont want or give your $20 back if you want it! The best that you would ever get IMO is $20 from a collector, "maybe" unless silver goes up to $100 +.
---This smells funny! It almost sounds like the same seller on ebay, with different names mostly from Winnipeg. I'm sure a clever person can submit supposedly from different places and is listed multiple times on at least two places, under Commemorative coins and Bullion silver, probably more, I just stopped looking.
---Ive seen many, all ridiculous up-to one price @ $109 and all with no returns! That's just stupid!!
---They even say, they have it in hand for immediate shipping! Wow!
(note)
---The mint wont even start their shipping before the 14th of February.
---Ebay really has lost all credibility now in my eyes more than ever. Look out people, this is like a virus that someone has started to get interest and looks like it is planted IMO.
---It is only worth face value, at the most, that's it, it's only about 1/4 once of silver, $20 dollars doesn't not even cover Silver Bullion value, not even close. Just pretty.and if you like that, then it's great buy.
Otherwise!
---It's simply a coin, not even a commemorative as they say.
I ask Commemorating what? Stupidity? Oh ya my mistake!!
It's authorized by the Government!
---Please read this cut/past I got from mint post.
---------------------------------------------------------------------
FREE* shipping starts in mid-Feb, but don't delay - now is the time to reserve your official 99.99% Pure Silver $20 Coins for only $20 each...
$20 Fine Silver Commemorative Coin
$20 Fine Silver Commemorative Coin
$20 Fine Silver Commemorative Coin Strictly limited new edition

* Authorized by the Government of Canada
* This coin is 99.99% Pure Silver
* This coin issue is strictly limited - maximum 3 per customer
* Only 1 in every 175 Canadians can own this item
* *FREE shipping when ordering this item only

Available in Canada only.

$20.00 CAD (no GST/HST!)
Learn more...
Shipping starts February 14, 2011.
Mintage: 200,000
No. 114366

Specifications:
Composition: 99.99% pure silver
Finish: specimen
Weight (g): 7.95
Diameter (mm): 27
Edge: serrated
Certificate: not serialized
Face value: 20 dollars
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canadian_coins's Avatar
United States
2408 Posts
 Posted 02/07/2011  08:53 am  Show Profile   Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply
Commoncents, all good points. The Legal Tender aspect is by biggest gripe and we need to get clarification from the Mint regarding its implication.
Valued Member
vinnycoin's Avatar
Canada
442 Posts
 Posted 02/07/2011  10:37 am  Show Profile   Bookmark this reply Add vinnycoin to your friends list Get a Link to this Reply
@commoncents

I agree the mark up is a bit insane, but I guess if you are not a Canadian resident, then this is the only way to purchase them. All the auctions on ebay are from Winnipeg because those of us that live here can pick them up directly from the mint, whereas everyone else is waiting for shipment. Also I already pointed out that when I picked up my 10, there were already 6 people that got theres and more on hold for others. That is why probably all the auctions are coming from Winnipeg Manitoba. I'm guessing that buyers would rather get the coin now (maybe dealers trying to fulfill orders?) than bid on a pre order auction.

I'm fairly new to the coin collecting game, so I'm not sure how popular some coins get, or if this one happens to be more popular than most releases. I'm just going to hang out to mine. They're nice coins, and will make good gifts.
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dialog_gvf's Avatar
Canada
1581 Posts
 Posted 02/07/2011  11:05 am  Show Profile   Bookmark this reply Add dialog_gvf to your friends list Get a Link to this Reply

> What does "Authorized by the Government of Canada" mean? I know the government approves every coin design the mint makes.

It means this coin is aimed at regular people and not collectors.

"legal tender"
"value of $20"
"Authorized by the Government of Canada"
"official price"

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canadian_coins's Avatar
United States
2408 Posts
 Posted 02/07/2011  3:42 pm  Show Profile   Bookmark this reply Add canadian_coins to your friends list Get a Link to this Reply

Quote:
It means this coin is aimed at regular people and not collectors.


I would hope it has a more profound and legal flavor than that. Authorized by the Government should imply that is it money, plain and simple. If so, then all other coins produced by the Mint - for collectors or not - should be considered money. Isn't that why they say Legal Tender no? In my book, Non Circulating Legal Tender is still Legal Tender.

But what does Legal Tender imply? Does that FORCE a financial institution to accept as a deposit? Does that FORCE a person to accept as a tender to clear a debt?

Can you pay your taxes, your electric bills with this coin?
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