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 Replies: 20 / Views: 4,470 |
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Pillar of the Community
United States
2408 Posts |
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Pillar of the Community
United States
1388 Posts |
Why can't the U.S. Mint do this?  That is a nice looking coin  |
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Valued Member
Canada
276 Posts |
The US mint is focused on it's quarter program...
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Pillar of the Community
 United States
2408 Posts |
Wow, more $20 for $20 that's interesting. Same design? Probably not. Mintage? I'd say at least 200k.
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Valued Member
Canada
276 Posts |
It'd be kinda cool if they started pumping them out en masse, and then people started to use them when they realized they weren't particularly special. They'd REALLY have to start pumping them out, though.
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Pillar of the Community
Canada
1733 Posts |
Guess I need to set up seven thousand addresses like the rest of the people and fleece everyone on ebay I can soak for a few dollars. I don't understand why folks didn't buy their own but paid so much for one on ebay even when they were in stock... still scratching my head here. |
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Valued Member
Canada
276 Posts |
@Ugly: You don't need to do that. You just place an order for 10 online, then do another a few days later ... and another a few days after that. I did that with the navy loonies and the rough rider ones ... and I've got like $300 worth of loonies in their packages, waiting for the price of electroplated bronze to skyrocket.
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Pillar of the Community
United States
2408 Posts |
@rodime - that didn't work for me. Their system said I was maxed out.
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Pillar of the Community
Canada
1581 Posts |
It could be an automated response to the sell-out. They want your e-mail address. But, 200,000 x $(20-9) = $2.2 million+ profit over the current silver value (more over their original purchase price for silver) in a couple of months. And it would compensate for lowering the mintages on the numismatic items going forward. Still, this concept is dead in the water if people can't ultimately convert them back easily. Once people start talking about how they can't easily get their money back, it's over. I don't expect retailers to ever accept them. In fact, I think the BoC and the government would start to freak if such a thing started to occur (the RCM starting a war on fiat with the public starting to demand a partial silver standard). But, banks must be aggressively pushed to live up to their obligations. Anyone know, off-hand, what the RCM's silver reserves are? I would think we're about to see a significant price increase coming in all new regular NCLT silver issues, due to the meteoric increase in the spot price. |
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Pillar of the Community
Canada
1733 Posts |
I don't know what their on hand reserves are but it doesn't matter much right now since there is adequate silver supply to meet demand - the operational profit is calculated on their coining fee alone and their on hand reserves used to smooth out the contracts they take for future delivery. The bullion metal is supposedly managed at a break even over the year approach with all profits coming from coining. I can't verify the accuracy of this statement with public documents and can only say the Mint uses accountants too. Anyhow, they are apparently reaching production capacity http://www.bloomberg.com/news/2011-...nt-says.html |
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Pillar of the Community
Canada
598 Posts |
Unless the new pieces have drop dead artistic merit, I'll just stop with the first of the series... like I did with the Canadian Tire coins... unless I could make a bucket o' profit on fee bay.  Edited by IBGolden
03/05/2011 5:20 pm
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Pillar of the Community
Canada
3692 Posts |
The one that's out now doesn't suggest a series of any kind. They're all going to be boring generic releases.
If this coin were to circulate, it would have to rival the toonie because let's face it - the toonie has some buying power left in it. You would either get people complaining that the coin is too small or that $20 bills suffice for them. This $20 for $20 is a joke to me.
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Pillar of the Community
United States
2408 Posts |
The likelihood of having another release exists based on what the Mint is stating: "Sign up to be among the first to get email updates announcing more coins in this popular, new series"
I don't understand the reasoning on the buying power of the Loonie Vs a potential $20 silver coin. They would be both currency - one made out of a tin can and one made out of pure silver. For a dollar you can buy a pack of gum, for $20 you could buy 20 of them (and perhaps a few extras).
That people would complain is a sure thing, as people naturally resist changes.
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Pillar of the Community
Canada
1733 Posts |
It's just another coin, I've had a lot of fun with mine so far though. It was worth every penny for all three. I don't know if they'll do another considering silver prices but I don't really care. One is enough. I think they just asked you sign up so you could get bombarded with marketing material, they know they were trying for mass appeal.
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Valued Member
423 Posts |
I tend to think what Ugly said is true. It was a marketing ploy to get personal information so the mint could direct market.
If the masses don't buy more of the other collector coins the mint won't offer this coin again because there would be no reason to get more peoples addresses.
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Pillar of the Community
United States
2408 Posts |
Quote:
The one that's out now doesn't suggest a series of any kind.  |
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Replies: 20 / Views: 4,470 |
Posted 03/04/2011 7:30 pm
