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Old 02-15-2011, 03:47 PM
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Default Canadians!! exchange 20$ for 20$ face silver coin



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The mint has put out a silver coin with a 20$ face value that only costs 20$, free shipping and no tax. So everyone should exchange 20$ for a coin and go spend it. It will increase awareness of silver and the is no downside unless you hold onto it. They are selling on ebay for over 40$ so you can just flip it if you want. If you do hold onto it there is always the chance of it increasing in value as well, I might keep a couple. I plan on getting all my family/friends to do this.

http://www.mint.ca/store/product/pro...D=EMSx310x3391
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Old 02-15-2011, 04:00 PM
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It is a great deal. I had the woman of the house a Canadian get her order in and get her relatives to order some also. With free shipping and sold at face value they can't do more to encourage sales. It would be great if they put this $20 coin into full time circulation.

The 8 digit order number may mean manyare buying them. You can't beat a sure thing and chance to double your money. Keeping them would be my choice.

Red
Old 02-15-2011, 08:13 PM
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Non-Canadian citizens cannot buy this coin?
Old 02-15-2011, 08:45 PM
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It weighs 7.96 grams = 0.255919 oz(troy)
In other words you are paying $78.15 Canadian dollars per troy ounce
or $79.08 U.S. dollars per troy ounce

So basically you are buying a collectible; most of us here aren't interested in paying such a massive premium for silver.

As more of them are delivered I would expect the price on eBay to come down substantially.
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Old 02-15-2011, 08:55 PM
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Quote:
Originally Posted by PastTense View Post
It weighs 7.96 grams = 0.255919 oz(troy)
In other words you are paying $78.15 Canadian dollars per troy ounce
or $79.08 U.S. dollars per troy ounce

So basically you are buying a collectible; most of us here aren't interested in paying such a massive premium for silver.

As more of them are delivered I would expect the price on eBay to come down substantially.
It's an even swap. 20 bucks for 20 bucks. No one is suggesting buying and holding these.
Old 02-15-2011, 09:07 PM
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It's an even swap. 20 bucks for 20 bucks. No one is suggesting buying and holding these.
Of course they are. Nobody is going to go to the trouble of getting them from the mint and immediately spending them. But if I were Canadian and wanted some silver I get would some Canadian Maples instead of these. The Canadian Maples would go up in value immediately (whenever silver goes up), while these $20 coins probably wouldn't be worth $20 in silver value until after five years or so.
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Old 02-15-2011, 09:09 PM
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You are paying C $60 for C $60. If the US offered a $20 coin with 1/2 the amount of silver in the Canadian coin has it would still be better than a $20 bill. A no brainer deal for me. A$20 coin with some silver in it or a paper $20 FRN IOU. No premium ,no shipping charge.

Red
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Old 02-15-2011, 09:39 PM
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This is interesting

First it is $20 for $20
Second - It is Canadian not US Currency
Third - Unless Canada Tanks it will always be worth $20 in Canada
Forth - Silver value for this coin today is about $8
fifth - if it is a limited edition it will be a good collectable

I called my cousin in Manitoba and ask him to order three of them... this will be my first "Collectible"
Old 02-15-2011, 09:48 PM
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Trade your paper money with a paper value of zero for a metal coin with some silver. That seems like a good deal. And if you change your mind you can always spend it like the $20 in paper that you gave up. No real down side to me.
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Old 02-15-2011, 10:13 PM
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If the US did this they would be overwhelmed with orders. It would be even better to have it as a coin in regular use and give us a little faith in our money. In the real world they would last in circulation about one second.

I love the idea and Canada priced them right. Canada scored a big one!

Red
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Old 02-16-2011, 03:57 AM
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Max 3 per person.
Old 02-16-2011, 03:58 AM
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http://www.usdebtclock.org/gold-precious-metals.html
Old 02-16-2011, 01:45 PM
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My Cousin happened to be going to Ottawa yesterday so he is going to the mint today (which I guess is open for tours and sales) and is taken a friend.. he is going to pick me up 6 of them - if possible
Old 02-16-2011, 04:25 PM
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Quote:
Originally Posted by PastTense View Post
It weighs 7.96 grams = 0.255919 oz(troy)
In other words you are paying $78.15 Canadian dollars per troy ounce
or $79.08 U.S. dollars per troy ounce
Yup...it's a Canadian tax on citizens that don't understand math.
Old 02-16-2011, 07:06 PM
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Really? What exactly did they pay in "taxes"? They swapped a piece of paper with a face value of 20 bucks, for a silver coin with a face value of 20 bucks.
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Old 02-16-2011, 07:27 PM
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This not only is a good deal for the average Joe, it's a great deal for the Canadian treasury. Right now, they're getting $20 for $8 in silver,but if silver goes up 2-3 times,the thing is still only worth roughly it's face value.
Kind of a win/win for everybody,ain't it? Makes our "Silver Dollars" look a little cheesy.
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Old 02-17-2011, 01:59 AM
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They are selling on ebay right now for between $38 and $48

http://cgi.ebay.com/2011-20-CANADA-P...item4156dead11

My Cousin got 3 for me and my sister is sending me 3.. I would like to have 100 of them.. easy way to turn $2,000 into $4,000
Old 02-17-2011, 10:43 AM
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Quote:
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Really? What exactly did they pay in "taxes"? They swapped a piece of paper with a face value of 20 bucks, for a silver coin with a face value of 20 bucks.
If they hold onto this coin for more than a month or so, they lose money on it due to inflation. I'd never pay double market prices for silver, regardless how it's couched as a "collectible". I'd rather buy the actual amount of silver at that price, which is immune to inflation.
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Old 02-17-2011, 12:16 PM
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Quote:
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If they hold onto this coin for more than a month or so, they lose money on it due to inflation. I'd never pay double market prices for silver, regardless how it's couched as a "collectible". I'd rather buy the actual amount of silver at that price, which is immune to inflation.
What you fail to understand is that it is still official currency so all you are doing is trading paper for metal. Regardless of if the MONEY is in paper or metal it is subject to inflation, HOWEVER the deal here is that now you no longer have PAPER - you have something of value....

would you rather have $1000 in paper dollars or $1,000 in metal (silver) dollars.

this is a win win win win...
Old 02-18-2011, 03:07 PM
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Our $20 coins ordered on 2/8 arrived in the mail yesrerday. Next trip up there we will pick them up. Thank you to the OP for the tip on these being up for sale.

Red
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