The crazy World we're living in, there $100 legal tender coins are not real $100. I refuse to understand it any more.
I don't mind paying $100 or more for a 1 oz silver coin, but it has to be a coin that I really want or that I believe will increase in value over time. Now if very few people will buy this Bison and it is taken off of sale and becomes a sleeper then some collectors might be willing to pay $200 for it next year.....just not me.
Interesting link - and here I thought the face value could be used as legal tender anywhere in the country of issue... you learn something new every day!
Yes, this is surprising to learn for me as well. So "legal tender" does not really mean legal tender in the sense that I have previously understood. I thought that legal tender meant that a business or bank in the country noted on the currency must accept that legal tender currency (note or coin). Why should it even matter that it is sold as a collector item and therefore disqualifies it from that status is not understood by me. And is this the same with other country's "collector" currency? There are US "legal tender" notes that are made for and sold to collectors only....are these also no good at banks? For example: http://www.moneyfactorystore.gov/uncutcurrency.aspx
Right....the cost per ounce of silver is less when one buys 3 bison coins.instead of 1 bisons coin. Of course the "legal tender" denomination is more for the later but as has now come to our attention, that "legal tender" inscription may not be worth a pocket of sand.
Haters gonna hate. All of these questions regarding the value of the coins are the same as those in $20 for $20 coins. Please check and see how much is the 2011 $20 for $20 silver maple leaf is right now on ebay. The people that complained about this coins probably did the same when the first $20 for $20 came out. So far, every $20 for $20 coins are sold out at the mint. It is legal tender but it doesn't means everyone will accept it. If you bring in a $100 bill to a corner store, do they accept it?? Some may, some will not for fear of fake. You can scream and shout at them all you want and tell them it is legal tender and they MUST accept it, it doesn't mean they have to. It is the same for these $20 for $20 coins or $100 for $100 coins. It is legal tender but it doesn't mean everyone going to accept them. Actually, a good example for those live in Canada, the new plastic bills doesn't even works in many vending machines!!! What do you have to say about that?? Many bank in big city do accept them as deposit now. That Stars article that a member post in this thread does a lot to help the mint communicating with the banks with the right information. I understand that we all have our own set of rules as to why we buy or not buy a coin. It usually resolve around mintages and design and such. What I don't get is people trying to compare it with bullion coins. They should know by now, numismatic coins will always have high premium than Bullion coins. The price will never be comparable. Doing such comparission is like comparing a nice looking car to an ugly rusted car. They both are cars that get you to point A to point B why paying more for one than other? Anyway, the coin is sold out at RCM and Canada post and other dealers will sell them for $125. We can revisit this thread a few months from now when they release the second coin and see if this $100 for $100 is still worth $100 or less
lostwords, thanks for that POV.. I suppose time will tell how this coin will do. As for bullion vs numismatic coins....I have seen several arguments about how to define coins. If we go by what many of the major mints like the Perth Mint calls a bullion coin, then bullion coins can actually be very attractive coins indeed. Even the US Mint's bullion coins are anything but an "ugly rusted car". The $100 RCM coin is part of the Wildlife in Motion series which is regarded as a bullion coin series according to the RCM. I suppose there is no universal consensus by collectors, mint's, and stackers regarding those ("bullion", "numismatic", and "semi-numismatic") labels.
Mate you should see the RCM Grandmother Moon Haida Mask coin - & premium's its going for - I think the 1/2 oz gold is also going for CAD$2.2k already!
@VRS You may read Coin specs first before comparing Gold coin with 500 Mintage or Silver coin with 6000 ( 110 Dealer price ) mintage and common BU Coin with 50 000 Mintage (90 Dealer Price), id rather eat my socks after a hard day work than paying 90 for running Bisons. Grandmother Moon Haida Mask coin is a beautiful and nice collector coin, Bison Stampedo is ugly overpriced fancy coin with 100$ on it.
It is a NCLT. RCM does not sell Bullion coins on their web site. Only dealers can sell Canadian Bullion Coins.
Ultimately, the value of any coin is in the eye of the beholder. My eye tells me that this coin is nothing special. I like Bison and all but 1 oz silver and mintage of 50,000 is not nearly as impressive as a number of other competing 1 oz silver coins. I very much like several other 1 oz coins that have been released in the past couple of months; my favorite thus far is the Gilson Opal Snake. I just got mine and it is by far the most stunning silver proof coin I personally own. I'll upload a video to the forum in a separate thread in the next few days. The grade AAA gem opal alone on this coin is worth the price tag. In comparison, the low quality opal on the Perth Mint opal series coins is beyond disappointing in my view. I bought all three issues of that series so far and I am quite disappointed in the quality of the opal and yet that series seems to be selling quite well. It's all about distribution I guess.
As I said before, everyone have their reasons to buy or not buy the coin. I just find it is apple and oranges when one comparing numismatic and bullion coins. In any case, it is sold out and now public can only get it through dealers which selling them for at least $110. Here's the coin in hand looks like
It's a decent enough looking coin but I suppose only time will tell if this coin will gain any meaningful premium
I was thinking seriously of buying 1-3 of these, But when i saw one buffalo coin someone posted for sale, And i saw a big black spot, I changed my mind. I remember the Canadian wildlife series with the milk spots. No thank you. I'm not spending high premiums especially with silver dropping to have spots.
The "value" of money is declining. I think dollar lost around 60% in last 40 or 50 years. Or even more. There are rumors that most of the countries (USA, Japan, some European) want to increase inflation to avoid Japan's "20 lost years" (e.g. GDP growth 0%) - deflation trap. There are even some rumors about hyperinflation. Didn't follow much Canadian economy so don't know if it's repeating printing money madness by some of the key world central banks... Coin is nice though, especially the boxing.
If Canada is anything like Australia then a $100 legal tender coin would have to be honoured for $100 at any bank. Therefore, the RCM couldn't issue such a coin any cheaper than $100, otherwise people are just going to buy it for less then cash it in for $100 at the bank. It has nothing to do with silver content. Last I checked we still use $$ to buy things, not precious metals
Sorry to disappoint you, Canadian Numismatic coin does not have milk spots. It's Unfortunately, but you are correct that our bullion coins (Silver maple leaf, and wildlife series) do have milk spots. You may mistaken this Bison with the bullion one in wildlife series
No sir. I saw someone post the bison $100.00 and the top buffalo on the right hand side, Bottom belly of the buffalo had a nice size black spot on it. I had collected the wildlife series but sold them all. Don't want milk spots to occur.
I never quite understood why the RCM would insist that the problem of spots could only exist on the bullion coins and not the collector coins....wouldn't the planchet cleaning and preparation process be the same (or very similar) for the production of all silver coins, bullion or not?
