| Author |
 Replies: 425 / Views: 38,402 |
|
|
|
Valued Member
Canada
150 Posts |
Folks, one thing to keep in mind is that regardless of whether you decide to spend this coin or not, it's still worth $20.00 face value.....It's no different than taking $20.00 in pennies to the bank to get a crisp new $20.00 bill...........you still have $20.00. It cost you nothing to purchase this coin, that is unless you're foolish enough to buy it from the ebay link posted earlier. |
|
Pillar of the Community
United States
2408 Posts |
IBG,
I don't understand your reasoning with regards to bullion. The 1 once silver maple has a $5 face value. But you are willing to pay $30+, why?
What if silver goes back down to $4 an once (unlikely), then what?I'm sure you'll be glad you have a "Legal Tender" value of $5.
In contrast, for less silver, this coin will always be worth $20. Sounds like a good deal to me.
|
|
Pillar of the Community
Canada
598 Posts |
Quote:
IBG,
I don't understand your reasoning with regards to bullion. The 1 once silver maple has a $5 face value. But you are willing to pay $30+, why?
What if silver goes back down to $4 an once (unlikely), then what?I'm sure you'll be glad you have a "Legal Tender" value of $5.
In contrast, for less silver, this coin will always be worth $20. Sounds like a good deal to me.
canadian_coins
^^^ I agree with what you stated above 100%.  The hesitation that I feel is that the mint is profitting considerably, again (well, at the current market)... and hey, no problem with that, or if someone... even me... wants one. BUT, you (<everyone, even me) would have a hard time spending one anytime soon... but maybe later on they would be quite accepted. And I think that would be fantastic to have a circulating piece of silver.  As a bullion buyer (turned collector... aye  ), I really pay/paid no heed to the face value of bullion/coins and was a market driven buyer. But, I think this is a most interesting twist... and I do want at least one. I would also be tickled pink if people would pay 20 bucks for a quarter oz of my stufff... yes I know the legal tender aspect and all, and I 'spose that such would be honoured at major financial institutions. But, at this moment I'll be paying 20 bucks+ for a quarter oz of Ag! Outrageous! <<< That's what I use to say . It's hard to separate out the Scrooge in me from the collector in me... I still cringe when I think about getting one!, but get one I will! Interesting twist indeed  >>>edit... VVV canadian_coins, I think tomorrow morning I'll see if I can get it together with an order of sorts. 'Tis interesting  and enough to make me feel my collection should have one. Edited by IBGolden
01/28/2011 8:02 pm
|
|
Pillar of the Community
United States
2408 Posts |
Ah! So we are on the same page and - not to get you panicked IBG but the Mint is selling fast @ 10x per normal NCLT rate this thing will vanish before going public next week. My sister in law couldn't get through today, and I suspect the limit will be reduced soon.
I still think this is the most interesting deal ever and if the Mint is benefiting from this, then Canadian are ultimately.
|
|
Valued Member
Canada
276 Posts |
I was hoping to get my wife to order some as soon as they go public. We'll see if there are any left ...
|
|
Valued Member
Canada
311 Posts |
I have a friend that is buying silver stocks in a company that mines and smelts and sells silver. I mentioned to him that I like buying silver coins like the $20.00 dollar coins, because if the price of silver should ever drop, I still have the face value of the coin, a double protection plan for my investments. It may only have the silver value of $7, but no matter what happens to silver, I will be able to recoup my investment.
|
|
Valued Member
423 Posts |
I think it is a "safe" way to get a NCLT or to try it out. If you get it and you like it, keep it. If you get it and you don't like it, sell it or bring it to the bank.
$20 dollars of fiat (on paper) or $20 dollars of fiat (on silver). The silver valve alone is lower than face value, but the silver valve is still worth more than the paper value. It may be "harder" to spend the coin than a bill. In the end it is balanced out and a "safe" thing to try.
Edited by realpenny
01/29/2011 08:19 am
|
|
Pillar of the Community
Canada
3692 Posts |
I wouldn't mind spending these, that's my point. I would like to see a modern return to real physical money.
I also agree with who said we should have a $25 coin. While a $25 banknote would suffice temporarily, a $25 coin would stay around for decades. Make it purple as a banknote or 10 to 12-edged coins like Great Britain's 50 Pence and bi-metallic.
|
|
Valued Member
 Canada
322 Posts |
This little note was at the bottom of the email the mint sent me yesterday
Note: The February 15-28, 2011 edition of Canadian Coin News contains an illustration of a silver coin on the cover that should not have appeared. This was an error on the part of Canadian Coin News and the $10 silver coin shown there was, in fact, a design draft. Please note that we have selected $20 as the final denomination of the product.Has anyone see that edition...kinda interesting isn't it.
|
|
Valued Member
423 Posts |
^^^
If anyone has the issue do give some details - for interests sake.
Was the price of the $10 coin going to be $10 or was it going to be $20 etc...? Draft designs and thought processes don't mean much, lots of ideas will be explored at that stage. How much real insight can be gained is minimal at best though.
|
|
Valued Member
Canada
276 Posts |
I find it odd that this coin is in the NCLT forum. I know by definition it fits in here, it is non-circulating, but legal tender.. but generally NCLT coins cost more than face value. I think it's a good trend ^_
|
|
Valued Member
423 Posts |
^^^ NCLT = non-circulating legal tender. Do you have any proof that banks by law do not have to accept the value that the mint puts on a coin? I don't know the LAW. I agree that it is a nice change though from the RCM. Now only if the 1/25th gold coin I just bought wasn't 50 cents face value, but $110. :P |
|
Pillar of the Community
United States
2408 Posts |
Rodime, it's a unique situation indeed. Not quite bullion, NCLT, nor circulating money. My in-laws ordered their coins and plan on keeping a few and spending the rest. They do not collect coins but got interested nonetheless. So we might definitely see some coins in circulation.
|
|
Pillar of the Community
Canada
598 Posts |
Well, well, well... got all my stuff together, ya know... credit card, pictures of the item (from here; thanks guys!), with the item number and called the phone number (also provided here;thanks again!), and got a quick response to Johnathon, who took my phone number  , then told me that the system could not create new accounts, but that I could try online or on Monday. It's pointless for me to try online because the item won't show up to a new account. Poopypants!  Oh, & Johnathon, don't abuse my personal information... because where oh where will Monday lead me  VVV The Gleanings VVV RCM phone order # 1-800-267-1871. Item #:114366 Description: This new 2011 Canadian silver commemorative coin is legal tender with a value of $20. It is available for the official price of only $20. You simply exchange $20 from your wallet for a $20 coin of solid 99.99% silver. Weight (g): 7.95 Diameter (mm): 27 Finish: Specimen Edge: Serrated Certificate: Not Serialized >>> edit... Okay, so I go onto the RCM site, create an account, add a credit card and register... no problemo. Then I call the RCM number to place the order since the item won't show up to non-Master Club members. A very congenial female voice promptly answers, so congenial I forget her name (Audrey, I think?), anyway, I being a non-Master Club member am ineligible to order said item... until the 31st. She said so in the most personable way though. So, I 'spose a couple days will have to pass before said order may be placed. But, the difficulties with creating accounts by phone still exists, and that no orders to non-Master Club members would be processed. Well, they had my phone number anyway, might as well've gave them the rest of the info for an online account. I'm really more of a PayPal kinda guy, and will probably delete the RCM account shortly after all is said and done. Sign Me, TheHouseOfPrivacy. Edited by IBGolden
01/29/2011 4:41 pm
|
|
Valued Member
Canada
94 Posts |
I checked and my credit card was charged an even 200$. I don't understand the claims that tax is being charged. I was not charged tax.
|
| |
Replies: 425 / Views: 38,402 |
First Page
Previous Page
Posted 01/28/2011 6:39 pm
