New $20 4 $20

Commoncents13: Well you mention plastic which I assume you mean to make a fait even more worthless. I countered with silver. I stated reasons why the RCM had to be careful about how much silver they put into a coin because of people's greed, to keep them in circulation, silver volatility etc...

Think of this: I like blue. This is about a red coin. I come into the forum and say "Red coins suck, you are all suckers. Bye I am leaving." It is valid for me to say that is meaningless, because it is. I think you didn't think and were ranting and I pointed it out and you took it as personal. It is not. Next topic.

I think it is great the RCM is getting some silver out there. It may only be backed by 39% but it is a start and I can see lots of reasons the RCM has to be careful with that number as there is a lot of variables out of their control and if the get it wrong everyone will bust them for it.

I wouldn't want Canada to be a credit card society. It would be best if the Canadian dollar was back partly by something. A private company controlling the money is going to lead to problems. Someone tell me a fiat that has lasted for 200 years? All fiats have failed.

Anyways, it is an interesting coin. I hope they make 2 million next year. I don't care about it's collector valve. I don't care if I can make an easy buck on it. I think it is better for the Canadian economy in the long run and would make the mint look very smart if that is there plan. I hope it is not a one year thing.

IBGolden: The problem is a lot of people don't even understand fiat let alone golds real worth. If most people continue to assume 'credit cards = a store of wealth' gold's real valve will never be attained. C_C basically said debt (in credit - which is usually owned by a private company) is the majority view - it is a fact. If the majority accepts some made up private credits then gold has little worth, unless the system fails. Then the private credits are worthless, gold on the other hand would be well... worth it's weight.

This coin though is interesting because of it's place in the market (I think C_C has said this). It is not a collector coin. It is not a silver standard. It is not totally fiat. It seems to be a well thought out blend - but maybe I give the RCM too much credit? I think the coin is a better direction then the one we are headed in. Just on the news right now they were taking about record level Canadian debts again. It would be great if the RCM slowly and safely backs some legal tender with something physical - it can never be a 100% backed because there is too many ways to game the system. Next year I hope for 2 million and they get spent. If you want convenience then carry plastic or paper. If you want a little backing then trade convenience for coins. Choice is good. A backed financial system is even better. Look at the American credit system and how it failed.

Rodime: I have already said society (general population) does not see gold that way currently. There are pros and cons to both credit and gold. Gold though has stood a test of time. Credit has clearly caused a lot of problems. You can easily make money playing both sides if you see it for what it is. Manufacturing uses aside - precious metals have been a store of wealth for recorded history. I doubt that will change anytime soon.

I have also stated why a 100% back financial system won't happen. There is too many ways to game that system. But a 50% backed system is harder to game and could make our money more attractive to hold. If you are China and want to hold a few billion dollars would you prefer a US promise with papers or a Canadian promise with 39% backing on silver. Both countries could lie to China or make huge financial mistakes and crash their store of wealth. At least with the hypothetical Canadian coins 39% would be recoverable. Which is more attractive? There is many scenarios that can be played out and worked though.

I think why people don't like this coin is because they can't make an easy buck off it long term. The mint is smart - they see the angles. The mint, if they continue this series, would help strengthen our currency by at least partially backing it against something and at the same time protect our currency from poaching and profiteering. It also shows the mint isn't all one sided and that they are willing to put something of valve into the equation other than steel or plastic or paper. Holding a bit of cash is smart in a portfolio - that cash backed on a percentage of silver doesn't hurt.

I would like to see people spend the stuff and more of it. I think what will really happen is that "Visa" (Paypal, banks) will eventually control the money more and more and not the government. I think this is bad overall.

It's an interesting discussion, but currency hasn't been physically 'backed' by anything since the demise of the gold standard; there's little about this coin that's any different than a twenty dollar bill - neither have any real intrinsic value in themselves.

defone: Through all of recorded history money has been backed by something. Until very recently it is been backed by nothing. I wouldn't use a short time period to judge something and imply everything with it is alright. I am sure (as are lots of other people) that government retirement plans in the USA and Canada (a new invention) will not stand the test of time.

1/4oz of silver vs a scrap of paper. It is obvious one has intrinsic valve and one does not. I put paper in the recycling bin all the time... I have never done that with silver.

Problems like these?

Wow I'm surprised how much controversy this coin has received from here, as well as all the other silver forums out there. I wonder if the mint knew it would be such a hot topic when they released this coin!

I gave out most of my stack to family for the Chinese new year, and they appreciate it. Something different than paper money.

Anyone else receive theirs yet? They still selling on ebay?

> They still selling on ebay?

Many are being offered. But, ones with higher starting bids (e.g. $39.75) are not being bid on.

With shipping, the range over the last 3-4 days has been about $30-$46.