This new Canadian coin seems way over priced to me....any thoughts? http://www.mint.ca/store/coin/coin-...3686314&spReportId=NzM2ODYzMTQS1#.UZUla0r3GUM
over priced? its a bargain - you simply cant lose on this coin. You pay $100 and you getting a silver coin with a face value of $100. Its still legal tender!
$100 face value and no guarantees it will be accepted as such (look in the internet for further details)
I was looking at 1 already on ebay, ( don't know if it's just a pic or the real thing ) And it looks like already i saw a spot on one of them.
you made my day, so funny :lol: I think coin is to expensive, why should i buy 100$ 1oz coin if i am a silver Bug ? after all inflation going to swallow this 100$ and i am sitting on 1oz Coin with intrinsic ( material ) worth over 100$ Is it not better to buy 3 BU 1oz coins for same amount of Money ?? After all i think three Libertads are much better investment, Bisons are right now not rare as coin motive. And with this Mintage i doubt it gains Numismatic value in my Lifetime
I agree with most members here who responded. The $100 face value of this coin will be worth $100 minus inflation cost in X months / years. As for numismatic value....that's anyone's guess. It's not a particularly special or appealing coin in my view and mintage is 50,000....much more than, as just one of several recently released examples of silver coins, the 2013 Fiji Opal Snake proof coin with a mintage of only 1,000 and it's the same weight and purity of silver....not to forget the beautiful mounted large opal. A couple have sold for actually under $100.
How can a legal tender coin be overpriced / worth less than it's face value ? Bit like saying a 50 dollar bill is only worth thirty bucks !! Those of you who are comparing silver content value are not perhaps realising that the material in this case is wholly irrelevant. It could be made out of copper or nickel and it will always be worth its face value of $100.
The reason it will be valued at less than $100 is due to inflation. I'm not stating that it will necessarily lose a lot of value in a short period of time, but that a bill or coin stamped $100 won't buy the same $100 worth of goods at some point. What if the Canadian Mint took cigarette butts that were touched by the Prime minister and decided to stamp $10,000 on each one and call it "legal tender"? Is that something you would want to trade $10,000 for just to exchange one form of currency for another. Yeah, the 1 oz Bison slug is 1 oz of silver, but not a very impressive slug.
I don't know if collectors will buy these 50,000 Bison coins in a mad ruch and if that will result in a premium that shoots through the roof....that could happen hypothetically. But I certainly don't know everything and so my being down on this coin may fly in the face of a good investing strategy. I'm going for a few coins like the Fiji Opal Snake and some new US Mint stuff myself. Opal is a highly valued collectible precious gemstone and the famous Gilson opal is real opal, it is opal created in controlled laboratory conditions. Besides that, it is my birthstone as well and I was born in the year of the snake. So the Fiji Opal Snake proof coin is really the perfect coin for collectors like me.
So no-where near $100 worth of Silver in it, if you sit on the coin and wait then the face value is getting eaten away by inflation and no guarantee's you will have an easy time converting back out to cash for face value anyway. You may as well buy $50 worth of Silver and $50 worth of Bitcoins instead if you after that sort of play.
Yes hem9, I read the article you linked to...very informative. Just another reason that this Bison coin is not going to go on my shopping list. BTW, in the article, is that true just in Canada for Canadian Royal Mint coins minted for collectors or is it true for all national mints in all countries???
I would rather have a $100 silver coin with some intrinsic value than a $100 plastic note with zero intrinsic value. People were discussing how the $10 Coins from Perth mint were a good stop-loss coin because even if spot dropped below the intrinsic value of the coin it would never go below the face value. This is the same, they are newish, the $20 coins have been out for a couple of years now but with low mintage so they are unfamilar to most shop owners and of course they will be rejected to begin with. But if the Canadian Mint continues to release the $20 series and also the $100 series they may build up to a critical mass and enter into the public domain. Interesting to see how much silver is in the $100 coin, where did you find out the weight. The $20 were about 8g of silver if I remember correctly but it was a while since I last saw mine. The $100 should be around five times that, 40g, or over a troy ounce if they are going to be equivalent. Forget my maths, here's a link http://world.mintnewsblog.com/2013/05/royal-canadian-mint-offers-100-silver-coins-for-100/ Best comment on the webpage
Under "Specification" No125701 Mintage50000 Compositionfine silver (99.99% pure) Finishmatte proof Weight (g) 31.6 Diameter (mm) 40 Edgeserrated Certificatenot serialized Face value100 dollars ArtistClaudio D'Angelo (reverse), Susanna Blunt (obverse)
Cheers mmissinglink, I was looking under the Product details until I found the other webpage. I think the key comment was "Stupid. You've lost $70 right off the bat when you purchase one of these. Unless you live in Canada. But who the heck wants to do that." If this was an Australian coin I would be in there. But if canadians are having trouble banking then coin what hope do we have? I would rather get one of these in change than a plastic note but I guess when I left Canada I would want to convert it back to Australian dollars, it isn't that nice to look at. I think that if the Perth Mint would be kind enough to do this and the local Gov would accept them in payment for taxes or rates or whatever then they might take hold. However I would still pay in fiat and keep the silver. They would lose value through inflation as has been mentioned before, the same as any other form of $100. Without the ability to put it in a bank to earn interest then this will always be the case. I guess eventually the silver side would be worth more than the face value but you would have been better off with 3 rounds as eurokrem pointed out. We already pay $100 for some perth mint 1oz coins, the coloured gilded proofs etc. They have the $1 face value. Chuck a $100 face value on them, you would even be able to sell the Snakes. If it wasn't such a pain to get these I might consider getting them but the last $20 I was offered was going to cost me $30 so I passed on it. I no longer have the full set so I will just wait to see if Australia does something similer, might be an opportunity for the RAM to offer a better product than PM for a change.
