I'm not a big fan of collectible and commemorative coins because they have a low weight and a high price compared to the value of their metal. Occasionally however I see something like the Royal Canadian Mint's $20 for $20 silver coins that are worth buying just because.
The thing about these limited edition coins (3 per address) is you can buy them for their face value of only $20. I realize this is just a gimmick to get new customers interested in collectible coins and you're only getting 7.96 grams of silver for $20 but it's pretty and has a risk free cash value.
At only 3 coins each its not an investment opportunity but they'd be great gift/ice breaker to begin a conversation on why people should invest in silver.
Just a thought , have a nice weekend.
P.S.
If you use the promo code Mint 2 shipping is free, at least in Canada.
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21 comments:
I remember stumbling on one of those coins about a year ago for the 20 dollar coin for 20 dollars and as you stated the metal within it wasnt close to 20 dollars, which i only spotted just before i was going to buy it and then decided not to. But with a value of around 9 dollars today, it may turn out to be worth 20 dollars once silver doubles this year. :)
While not a good value compared to maples or generics it is a good deal for those still leary about metal investing due to the high face value. It's only 60 bucks for the 3 coins, what the hell, I'll order them.
I managed to get 9 of them.
Although, it's not worthy of $180, I will think of other uses for them.
This reminds me of the similar program in the early 1970s where the Canadian Federal Government was selling their "investment opportunity" with the 1976 Olympic commemorative sterling silver $5 & $10 coins. These could also be purchased with fancy leather or wooden carrying/display cases, for additional (big) dollars.
It took many, many years for those coins to break even on the "1970 dollars" invested in them, after accounting for inflation!! Today, they are very hard to sell because sellers think they are 'rare' or 'special'; they're not. Sellers want extra money for the fancy cases and certificates of authenticity; they're worth less because they are common and only sterling silver. Franklin Mint and other companies selling coins through TV advertising charge way too much for the products, initially and cause their owners grief when they finally try to get their investment plus profit back on re-sale.
This new coin series is already being hawked by the sellers on Kijiji (and eBay too, I expect, if I could be bothered to look there). Looking for mooks to pay up to 50% premiums.
Buy bullion coins & bars from a reputable dealer. I am currently recommending (but, unfortunately, not being paid by): silvergoldbull.com.
CHR.
I wish we had coins like this in the UK, you don't realize how lucky you are in North America.
The limited edition coins at cash value price are great but other than that I stay away as well.
Very good analysis.
I rarly comment on blogs but I really like yours.Its hard to find good bloggers these days .
My only question is (*if* they were still available) is IS IT REALLY WORTH EVEN TWENTY BUCKS? the only way to test this is to see if any merchants will accept them in the real world. Is there any law that requires a buyer to accept dimes, silver dollars, pennies or whatever? My guess is no. So, if it is not recognized as a circulating coin its 'face value' claim is fiction.
I have ordered all the $20 for $20's as well as the $100 for $100's and the new $50for $50's
Just tried cashing them, several places later even dealers wont take them = A big Rip Off.
I have ordered all the $20 for $20's as well as the $100 for $100's and the new $50for $50's
Just tried cashing them, several places later even dealers wont take them = A big Rip Off.
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You can always get the face value for these coins. It is written in print on the Mint website. It states that there is an agreement between the Mint and the banks, and the banks are supposed to accept these coins at face value. If they do not, then you contact the Mint and they will give you the face value for the coins (and they indicate that they will also contact the bank and advise them of the procedures for redeeming these coins in the future).
You can always get the face value for these coins. It is written in print on the Mint website. It states that there is an agreement between the Mint and the banks, and the banks are supposed to accept these coins at face value. If they do not, then you contact the Mint and they will give you the face value for the coins (and they indicate that they will also contact the bank and advise them of the procedures for redeeming these coins in the future).
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