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Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 02-24-2011, 06:10 PM   #51
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Thanks murd0c. I just ordered 3.
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Old 02-25-2011, 03:04 AM   #52
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I ordered a long time ago probably even before it was posted on rfd and got it yesterday. It seems so small and thin compare to a silver maple leaf. Here is a picture of a quarter, silver maple leaf, and the $20 silver coin. The silver maple leaf is worth about $35 silver value. The $20 coin is worth about $8 silver value. The Canadian Mint is probably laughing at us selling us $8 worth of silver for $20
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Old 02-25-2011, 06:58 AM   #53
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The coin may have 8 bucks worth of silver, but still......... The mint is selling a coin at face value. There's costs involved with designing, striking, packaging, sending, etc. the coin. It will never bring any collector more than face value unless there is some significance in its design or if silver prices skyrocket to some ridiculous price. In ten or more years, the coin may yeild 15 bucks, if that, at auctions. Still, the banks have to give you 20 bucks "real" cash for the damn thing. People collect all kinds of shit for all kinds of reasons. At least with this one, all you lose is the time you took to order it and the huge amount of space it takes up. I hope this uncirculated coin at least comes in some kind of container, LOL.
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Old 02-25-2011, 09:16 AM   #54
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It big thing about the coin is it's only available to Canadians so all of the american collecters are really trying to get their hands on them. That's who I bought them for. He said 200k is not many and with them being legal tender they will be worth money in the future.
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Old 02-25-2011, 09:25 AM   #55
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The Canadian Mint is probably laughing at us selling us $8 worth of silver for $20
Who's laughing when they issue a small piece of paper with $100 printed on it and "sell" it for that amount?
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Old 02-25-2011, 10:43 AM   #56
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u bought a coin for $20 and face value is $20 = cannot lose only gain if silver goes up or if it is on high demand

check it out:
http://shop.ebay.com/i.html?_nkw=201....c0.m270.l1313

wow some fool is actually bidding higher than what it's worth: http://cgi.ebay.com/FIVE-5-2011-20-C...item4157163b39
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Old 02-25-2011, 05:43 PM   #57
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I just received mine in the mail today
Ordered on the first day it was available
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Old 02-25-2011, 07:22 PM   #58
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^ Do you remember appx. the date of this "first day" ?
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Old 02-26-2011, 04:06 AM   #59
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u bought a coin for $20 and face value is $20 = cannot lose only gain if silver goes up or if it is on high demand

check it out:
http://shop.ebay.com/i.html?_nkw=201....c0.m270.l1313

wow some fool is actually bidding higher than what it's worth: http://cgi.ebay.com/FIVE-5-2011-20-C...item4157163b39
Actually, you could also lose out because your $20 silver coin is not fully hedged against inflation, the silent killer of an economy. At current silver prices, there is about $8.40 worth of silver in that coin, so the price of silver will have to more than double before this becomes a smart investment (but by then you wouldn't be able to buy it). Crucially, if you speculate that silver prices will indeed double in the near term, you'll be better off investing in silver directly, without having to hold physical silver at home or where ever you keep your coins.

The coin looks shiny though. I like shiny things.
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Old 02-26-2011, 04:20 AM   #60
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Isn't that like complaining that your $20 bill will get taken for face value, when the paper and ink clearly isn't worth that much?
Not precisely, depending on how you view money. Unlike a $20 silver coin (BTW: it's not limited edition because the Canadian mint have been making them, and making a profit on them, for over a decade now), a $20 bill is something I will deposit in a bank and invest, having the $20 work for me via various investment vehicles. A $20 coin, by contrast, is something I have to worry about misplacing, forgetting, or having stolen. I have a friend who likes silver, but he buys bricks of it (like real bricks) and keeps them under his coffee table
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Old 02-26-2011, 05:05 AM   #61
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^ for the 23479234th time, this coin is NOT meant to be an investment
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Old 02-26-2011, 09:32 AM   #62
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iono about you guys but I only bought three coins just to collect points on my card.
I'm depositing them right back into the bank when I get them
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Old 02-26-2011, 04:04 PM   #63
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A $20 coin, by contrast, is something I have to worry about misplacing, forgetting, or having stolen.
I already have a safety deposit box in which I keep valuables. And there's definitely a novelty factor in having a collection that you can pull out to display if you want. I purchased a number of different silver coins over the last few years. Most of them are not rare or particularly valuable or low mintage but they've still nearly doubled in value. Viewed purely as an investment they've done better than anything else I have.

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iono about you guys but I only bought three coins just to collect points on my card.
I'm depositing them right back into the bank when I get them
I thought about this too. I got points on my card at no cost to self.

In all likelihood you'll eventually be able to sell these coins on ebay for some profit.
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Old 02-26-2011, 11:07 PM   #64
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I already have a safety deposit box in which I keep valuables. And there's definitely a novelty factor in having a collection that you can pull out to display if you want. I purchased a number of different silver coins over the last few years. Most of them are not rare or particularly valuable or low mintage but they've still nearly doubled in value. Viewed purely as an investment they've done better than anything else I have.

profit.
Same logic as what I have. Doubling in value is a lot better then a lot of investments people do, so I dont know why people knock it. Plus if currency ever tanks or world goes to hell in a hand basket, people wont take paper for barter, but they will take precious metals (Silver/gold/etc) like they have for thousands of years. Always a backup plan, no matter how unlikely that may seem at the time.
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Old 02-26-2011, 11:15 PM   #65
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Not precisely, depending on how you view money. Unlike a $20 silver coin (BTW: it's not limited edition because the Canadian mint have been making them, and making a profit on them, for over a decade now), a $20 bill is something I will deposit in a bank and invest, having the $20 work for me via various investment vehicles. A $20 coin, by contrast, is something I have to worry about misplacing, forgetting, or having stolen. I have a friend who likes silver, but he buys bricks of it (like real bricks) and keeps them under his coffee table


So silver he bought in 2003 for $4 bucks, and 2009 for $10 bucks is now worth $30 an ounce, id say his investment was amazing returns wise if he cashed in right now.
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Old 02-26-2011, 11:53 PM   #66
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This is a very controversial coin from the mint. I believe it's a quick cash grab from the mint. They stopped production on the regular silver maple and made this 1/4oz silver coin.

On the mint's standpoint, they are make a huge profit by selling u 1/4 oz of silver for 20bucks. About 250% profit on the metal. But all they have to do is stamp it as 20 bucks. But the real value is only 8bucks.

On a consumers standpoint, it could be a good value because u think it's worth 20 dollar at all time. But, again, i'm not sure if it will be a circulated currency and if the vendors or shop owners will accept it as 20 dollar. You may argue that it's stamped $20, but could u really use it as $20? No one guarantee it. However, it's different on the regular silver/gold maple leaf because everyone knows that 1troy oz of silver is > $5, and 1troy oz of gold is >$50. So, almost anyone on earth will take SML or GML for bread or butter in exchange. So, now... Come to think about the real world about the SML and GML, what's the determining factor if a vendor will accept the coin as payment? It's the real value of the metal.
Would u take a 1oz SML as $5 payment or a 1/4oz silver coin as $20?


So, go figure if u can really use it as $20 at war times or when the world currency tanks.
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Old 02-27-2011, 12:02 AM   #67
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Well no matter if vendors or shops will take it for its face value, a bank will. My gf works at a bank and people come in a lot asking what their gold or silver coin is worth, thinking the bank takes it for its gold or silver value, but leave pissed off cause the bank deals purely with its stamped value. You will always get $20 from the bank for your $20 dollar coin, but your $50 dollar gold coin with $1500 in gold will only fetch you $50 at a bank, so you will need to find a collector to get its value (its illegal to deface the queen, so it cant technically be melted down either).
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Old 02-27-2011, 12:16 AM   #68
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^ guess your gf doesn't work for Scotia or BMO nesbitt burns. Just refer those customers to VBCE or Border Gold to get that $1500.
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Old 02-27-2011, 12:43 AM   #69
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Well no matter if vendors or shops will take it for its face value, a bank will. My gf works at a bank and people come in a lot asking what their gold or silver coin is worth, thinking the bank takes it for its gold or silver value, but leave pissed off cause the bank deals purely with its stamped value. You will always get $20 from the bank for your $20 dollar coin, but your $50 dollar gold coin with $1500 in gold will only fetch you $50 at a bank, so you will need to find a collector to get its value (its illegal to deface the queen, so it cant technically be melted down either).
I don't think that's universally true... because someone on RedFlagDeals had a differing story. They said their bank DID offer to pay the value of the metal, or face value, whichever is higher.
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Old 02-27-2011, 12:47 AM   #70
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didnt bother reading all three pages, but you can go to the MINT downtown Van, and buy it in person. It still has the 3 coin limit thou.
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Old 02-27-2011, 01:30 AM   #71
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^Ooooh they extended it to the end of the year...
http://www.mint.ca/store/mint/about-...-store-5600004
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Old 02-27-2011, 02:05 AM   #72
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I don't think that's universally true... because someone on RedFlagDeals had a differing story. They said their bank DID offer to pay the value of the metal, or face value, whichever is higher.
That could vary by branch or company. But as far as I know they are legally obligated to accept all canadian currency at face value. (stores most times wont take old paper money, but a bank will). Them buying coins for their silver or gold content isnt required but some may do it to get in on that market.
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Old 02-27-2011, 06:05 PM   #73
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^ Do you remember appx. the date of this "first day" ?
It was Feb 1st when I got the email from the mint .. site was super slow
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Old 03-01-2011, 01:16 PM   #74
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i got mine today aswell.
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Old 03-01-2011, 05:18 PM   #75
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patiently waiting,,

wait, if i'm patiently waiting, i should't be checking this thread that often
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