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1998 Canada Maple Leaf $5 Dollars Titanic Privy NGC SP68 Silver PROOF Coin

Started by troy137-migration,

18 posts in this topic

coinman_23885

coinman_23885

Posted
Posted

SP stands for "specimen" and is similar to the SMS (special mint sets) finish coins made in the United States. In other words, although they aren't proof, they are specially made with special characteristics not often found on business strikes.

 

The coin looks like a legitimate Canadian bullion coin to me; I have no reason to question its legitimacy.

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coinman_23885

coinman_23885

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Although I know some general things about the series (i.e. metal content, date, finishes, TPG designations, etc.), I am by no means active in this market, so take my estimate with a grain of salt. There are certainly people more qualified to price this coin, and hopefully some of them will chime in. The coin's melt value is around $33 as of the writing of this post, so I would estimate the value to be around $40.

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troy137-migration

troy137-migration

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ya i did a little research and i know when the coin was released one buyer bought all 26000 and that for some reason made the price go up now iv seen then sell for 140$ + but im just woundering if the coin is worth that and if this SP68 grade from ngc would make a diffrence

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nunfa0

nunfa0

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Having the Titanic privy mark raises the price. That is why they are going for $140 plus. Even in an older Canadian Coin Digest, it lists as $75 for an MS63.

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$ilverHawk

$ilverHawk

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ya i did a little research and i know when the coin was released one buyer bought all 26000 and that for some reason made the price go up now iv seen then sell for 140$ + but im just woundering if the coin is worth that and if this SP68 grade from ngc would make a diffrence

 

If a single buyer bought the entire mint issue you may want to get out as soon as possible. That buyer is the market maker. Take any profit and run away. The reason the price ran up was that one buyer controlled the market. Not a very good scenario for late entries into the market for this coin.

 

Carl

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RWB

RWB

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If they have to put the ship's name under it, is it still "private?"

 

Modern "privy" marks are among the stupidest of sales gimicks ----

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Conder101

Conder101

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Modern "privy" marks are among the stupidest of sales gimicks ----

Like qualifying months worth of ASE production as being "first strikes" as long as you can get them to the TPG by Jan 30th?

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World Colonial

World Colonial

Posted
Posted
ya i did a little research and i know when the coin was released one buyer bought all 26000 and that for some reason made the price go up now iv seen then sell for 140$ + but im just woundering if the coin is worth that and if this SP68 grade from ngc would make a diffrence

 

If a single buyer bought the entire mint issue you may want to get out as soon as possible. That buyer is the market maker. Take any profit and run away. The reason the price ran up was that one buyer controlled the market. Not a very good scenario for late entries into the market for this coin.

 

Carl

 

I second your comments. And to add to them, a mintage of 26,000 for a non-US non-circulating coin is not scarce at all, it is common.

 

To use a comparison as I have done several times before, Canada has also issued a Golden Jubilee QEII proof set in 2003 and a centenary proof set commemorating the "King of Canadian coins" 1911 SP silver dollar. The mintage for the first set is 30,000 and for the second 6,000 with 15,000 additional silver dollar coins. Recently, the first set sold on eBay for $91 and the second for $201. Neither of these sets are scarce either but both are vastly better values than the coin which is the subject of this post.

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