Canadian mint selling 100 year old gold coins

[JIM F.]

Have you seen this:

 

http://www.mint.ca/store/product/1912.jsp?campaignName=war1912&pId=1200010〈=en_CA

 

Looks like they are selling them out pretty quick.

[coinman_23885]

I think they are neat, but are being sold for their full retail value. If you look at the Heritage Auction archives for sales of these pieces in MS60-MS62 the prices are very close to what the Canadian Mint is selling them for.

[RWB]

Considering the premium pieces probably never left the mint, I suspect they are better quality than MS62.

[gmarguli]

Why would the mint sell these for anything other than full market value? I suspect they are priced at the very high end of the price range for their quality (whatever that may be) considering that dealers will not be the buyers, but clueless collectors will be.

 

The Canadian mint is very well aware of pricing and grading. They aren't going to leave money on the table. This isn't the 1970's GSA.

[johnny9434]

it would be great to have a set of them. rwb has a good point as well

[coinman_23885]

Why would the mint sell these for anything other than full market value? I suspect they are priced at the very high end of the price range for their quality (whatever that may be) considering that dealers will not be the buyers, but clueless collectors will be.

 

The Canadian mint is very well aware of pricing and grading. They aren't going to leave money on the table. This isn't the 1970's GSA.

 

+1

[RWB]

The $5 are likely very nice since they apparently come from original bags. Much surface damage occurs after coins leave a mint.

[JIM F.]

Also, only a small fraction of the hoard is offered to the public (the best quality), they are melting the vast majority of these so the ones sold should be choice. I was able to buy the 1913 and 1914 $10 -- I was too late on the others.

 

[agentjim007]

The Canadian mint is very well aware of pricing and grading. They aren't going to leave money on the table

 

About 100 bucks over melt on a $5 straight from a mint bag is not Home Shopping network pricing. So they're not giving them away, still a cool deal at a fair price.

[JIM F.]

Sell me the $5 you purchased for $500 and I will pay $520.

 

Please offer!

 

 

[agentjim007]

My card was charged $517 with shipping and conversion. Bought the 1913 $5 then today I figured I'd get a matching 1913 $10. Card charged $1008. No shipping $1k and over.

[RockMyAmadeus]

Pricing and retail market aside, that's pretty amazing, all things considered.

 

I would love to have the kind of money to buy several sets.

 

Now, if they would just find a couple bags of 1916 sovereigns, life would be good.....

 

 

[jtryka]

This is the first I've heard of these and I bought a couple of the $10 and with just under a half ounce of gold each for $2K didn't strike me as a bargain but certainly wasn't HSN pricing either! Hopefully they are pretty.

 

Also interesting, it seems these were struck to the same spec as US eagles and half eagles, 16.72g of 0.900 fine gold for the $10 which is the same as the US eagle. I just assumed they would be smaller than the American versions.

[JIM F.]

Product Specifications:

Face Value: 10 dollars

Composition: 90% pure gold, 10% copper

Weight (g): 16.72g

Diameter (mm): 26.92mm

Edge: Serrated

Artist: Obv.: Sir E. B. Mackennal

Rev.: W. H. J. Blackmore

[RWB]

These seem to be legitimate government hoard coins that should have a special label if graded/slabbed by PCGS or NGC.

[JIM F.]

These seem to be legitimate government hoard coins that should have a special label if graded/slabbed by PCGS or NGC.

 

Perhaps the moderator may chime in on your suggestion. I am sure many buyers of these are wondering the same.

 

 

[agentjim007]

The Canadian mint is very well aware of pricing and grading. They aren't going to leave money on the table

 

If that's true they would have known to charge more for the 1914 $5

[Old Pueblo]

What do you suppose the grade difference between the "Premium Hand Selected" and the lower cost "Hand Selected"

 

The $10 coin in premium is 1750.00 the $10 coin in hand select is only 1000.00

 

I am getting ready to pull the trigger

 

*Disclaimer

As the Royal Canadian Mint does not grade any of its products, the use of the expression "Hand-Selected" and/or "Premium Hand-Selected" as used herein does not imply any form of coin grade, or suggestion thereof, derived from current numismatic grading standards, or other form of grading systems.

 

 

OP

[coinman_23885]

It is my understanding that the "premium" pieces are high end/higher grade coins although the term does not necessarily imply a certain grade per se.

[TheMightyDuke]

$500 for a $5 gold coin, the same specs as the Star Spangled Banner $5 gold coin, and I can have a 100 year old coin, with a mintage of 31,000, possibly less, due to the melting? I hit the cancel button right quick on the SSB $5 and bought one of the Canadians. If you are grading these, and you get one back in MS63 or higher, it seems to be a very good deal. This cost is $15 cheaper than the SSB commem, and gives you alot more upside.

 

Here's a sampling of the '14 $5, and it's last few sales on ebay. Look at the final prices on 'sold' items....seems a hefty little premium for a $500 coin.......

 

http://www.ebay.com/sch/i.html?_sacat=0&_from=R40&_nkw=canada%201914%20%245%20gold&rt=nc&LH_PrefLoc=0&LH_Complete=1

 

MS63 or higher, and you've done quite well. Getting a 'hoard' designation, could vault them higher, as the GSA's from the seventies are worth a premium over their non GSA counterparts.

[Old Pueblo]

A National Treasure

 

 

The following coins are being made available to the public:

 

Premium Hand-Selected 6-Coin Set (140 sets - $12,000 each)

Premium Hand-Selected 1912, 1913 and 1914 $5 single gold coins (291 coins - $875 each)

Premium Hand-Selected 1913 and 1914 $10 single gold coins (4,869 coins - $1,750 each)

Hand-Selected 1912, 1913 and 1914 $5 single gold coins (5,050 coins - $500 each)

Hand-Selected 1912, 1913 and 1914 $10 single gold coins (18,950 coins - $1,000 each)

 

 

 

[jtryka]

The only problem is that the individual $5 coins were sold out, and I didn't want to shell out $12K for the full set! So I bought the 1914 and 1913 $10, each of which had a mintage under 150,000, which I thought was pretty good (though to be fair the modern $5 commems will likely be much lower!).

[coinman_23885]

The only problem is that the individual $5 coins were sold out, and I didn't want to shell out $12K for the full set! So I bought the 1914 and 1913 $10, each of which had a mintage under 150,000, which I thought was pretty good (though to be fair the modern $5 commems will likely be much lower!).

 

In fairness, I heard it through the grapevine that the full set has also sold out. Even if you did want one, I doubt you would be able to get one at least until they appear on the secondary market.

[TheMightyDuke]

With the total of, I believe, 73% of ALL sales being the '13 and '14 $10's (according to an article in CW), I expect those to be available for a little longer.

 

245,000 in the vault, selling 30,000, 73% are '13 and '14 $10's.....looks like all the $5's should do well (even in lower MS grades, the '13 does pretty darn well, and the '12 $5 is the key (depending on how many '13 $5's get melted, with 98,000 minted, who knows...granted the '14 $5 has a mintage of 31,000), and the '12 $10 was a winner to begin with....will the current keys premiums take a hit because of this, or ..........?