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Thread: 20 for 20 coins are NOT accepted at Canadian banks!

  1. #31

    Default

    just another reason why i didn't get caught up in the frenzy buying of this very overpriced coin when they first appeared and links were posted on this discussion forum. the idea of people buying these and paying the fees to get them was absurd to me simply because the amount of silver in them was only about 1/4 ozt. the melt value would need to be nearly 3 times what it currently is to break even on these "wonders of advertizing and packaging".

  2. #32

    Default

    the following is taken directly from the mint's site:

    Polar Bear Commemorative Coin Designs and Specifications

    The $20 Silver Polar Bear Commemorative Coin, like the previous two releases, is composed of 99.99% pure silver with a diameter of 27mm. It has a total weight of 7.96 grams.

    This gives each strike an approximate melt value of one quarter ounce of pure silver. Based on a silver spot of $33 an ounce, each would have a melt value of approximately $8.25.

    Shown on the reverse of the commemorative is a polar bear design by Emily S. Damstra. The bear is shown swimming in water with its head just above the surface. Reverse inscriptions around the design include "20 DOLLARS", "ARGENT PUR FINE SILVER 9999", "CANADA" and the date of "2012." The inscriptions of "ED" are also shown on the reverse representing the designer.

    Struck as legal tender of Canada with a face value of $20, the obverse contains the Susanna Blunt effigy of Her Majesty Queen Elizabeth II. Around the portrait are the inscriptions of "ELIZABETH II" and "DG REGINA".

    While still available, the Silver Polar Bear Commemorative Coin may be purchased directly from the Royal Canadian Mint website for $20 each, plus shipping and handling. A limit of three per household is in effect.

  3. #33
    Join Date
    Aug 2011
    Posts
    3,371

    Default

    Ive come across instances in the US where even paper money is no longer accepted. Certain business' only run electronic monies these days.

    That said I recently had my debit card stolen and my checking account wiped out. I made a point to my bank to the nature of, whats the point of a debt card with a security pin number when it can be ran as credit. They are enabling fraud for the sake of convenience. And I get the same lame an

  4. #34

    Default I'm intrigued

    We in the USA had trouble passing "gold" dollar presidential coins. I think the $20 silver coins Cads are great and will gladly trade USA federal reserve notes $20 for a few to anyone interested, would likely take some CAD notes at par in small denomination, too. I buy them(Cad notes small denomination) at 90% of face here in the states but so far have amassed less than $200.
    "Out there there's a fortune, waiting to be had. You think I'll let it go? You're mad! You've got another thing comin'!" Judas Priest

  5. #35

    Default

    currently price at apmex are:
    maple leaf - $44.95
    canoe - $34.95
    polar bear - $32.95

  6. #36

    Default

    Quote Originally Posted by seascape195 View Post
    Reminded me of this video on the gold coin value.

    http://m.youtube.com/#/watch?desktop...VG1WEP10&gl=US
    Yes, I would have taken the coin and given your $48.xx change back.

  7. #37

    Default

    I am interested in seeing how this plays out. Either way I will still be collecting them. If the price is right I will sell all but one or two of each of the coins.

    I don't think demanding $5,000 was a smart move, you can't really do stuff like that and still be taken seriously.

    I think you should have just told them you were in urgent need of the cash and thought that the bank would exchange them and they did not. You were then left in a serious bind and had to come up with the cash another way, like siphoning gas from cars haha.

  8. #38

    Wink

    Notice they did not use the reverse situation...

    "This new Canadian silver commemorative coin is legal tender with a value of $20. It is available for the official price of only $20. You simply exchange a $20 coin of pure 99.99% silver for a $20 bill from the financial institution of your choice."

    If you can't exchange it for $20 at the bank, this means the $20 figure is just an arbitrary number thrown onto the coin by the mint and it has a value of the contained silver plus any numismatic premium, being very generous, it is at most worth $10.
    Great deal you paid $20 +shipping for a $10 coin.
    Commemorative coins are almost always over priced.
    Not saying you can't make any money on these coins you might find someone willing to over pay.
    There are bullion coins no one but myself would pay extra just so I could own them.

    Quote Originally Posted by RetroStandard View Post
    This is from the mints website

    "This new Canadian silver commemorative coin is legal tender with a value of $20. It is available for the official price of only $20. You simply exchange $20 from your wallet for a $20 coin of pure 99.99% silver."

  9. #39

    Default

    Quote Originally Posted by moonstears View Post
    We in the USA had trouble passing "gold" dollar presidential coins. I think the $20 silver coins Cads are great and will gladly trade USA federal reserve notes $20 for a few to anyone interested, would likely take some CAD notes at par in small denomination, too. I buy them(Cad notes small denomination) at 90% of face here in the states but so far have amassed less than $200.
    Try giving a half dollar or an Ike to a 17 year old convenience store clerk & see the reaction you get.

  10. #40

    Default

    Blah blah blah, noise. The next $20 for $20 coin will sell out in under a week and everyone knows it.

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