Canadian Mint selling 1912-1914 $5 & $10 that were stored in vaults

Nooker

what do ya'll think? are these raw coins a good opportunity to get these, or am I better off getting a known quantity (ie. a graded coin)? Can't tell from the pictures how these might grade? In the past though, I know that buying gold from the RC Mint has always been way overpriced . . .

"Struck 100 years ago, and sealed for more than 75 years in the vaults at the Bank of Canada, a rare collection of the first ever gold coins bearing a Canadian symbol have now returned home to the Royal Canadian Mint.

Now, one century after having produced Canada's First Gold Coins, the Royal Canadian Mint is pleased to help the Government of Canada make these unique coins available to Canadians, and collectors world-wide. "

Link to RC Mint George V gold coins

Mark

Pokermandude

I highly doubt there will be any MS-63 or higher pieces being released at those prices. Not too long ago the RCM released a hoard of common date/grade silver dollars at quite a lot of melt value. If I recall around $24-25 each. It also seems that there was a private firm involved in the process, which decided to melt 200,000 of these gold coins.

IMO the prices on the "hand picked" $5 are reasonable (looks to be almost all sold out now), even if they are AU58/MS60 quality. The $10 prices are somewhat high.

They're neat coins, but I'd rather "hand pick" my own

ibex66

FWIW the $5 is about 1/4 oz gold, the $10 is 1/2oz. Ergo the $5 is priced about $90 over spot, not too shabby for a 100 year old coin. All the premium $5s are sold out, and I beleive the 1912 non-premium is too. Here are pop counts from NGC
1912 $5 - 631
1913 $5 - 509
1914 $5 - 193

Its my understanding the 1914 5$ has the lowest mintage by a longshot.

candy2012mustang

wow!!!

1960NYGiants

This could be a big money machine for the RCMP... and the Bank of Canada.

Stored in a vault at the Bank of Canada at face value. Sold to the RCMP at spot or just under. Sold to the public at spot plus a big premium.

Reminds me of the US GSA Morgans sold a few years ago. Flooded the market and killed some key date values.

I agree with Pokermandude: hand picked my own.

candy2012mustang

This was a great deal for the 1914 $5 gold, the key.

Nooker

yes, you say "this was a great deal" because they are quickly selling out. All the "Premium" $5 are sold out, and only the 1913 regular Hand Selected is left.

Looks like the $10 are all still available (except the 1912 which has always only been available in the 6 coin $12k set. . . sure would like to get a looksie at those coins)

Mark

Fountainhead

The RCM never explained why they want to sell the coins NOW, did they? The implication is that they waited until they could attain maximum profit - that is, they expect the gold and coin markets will soon tank.

Nooker

might have something to do with them (1912) being 100 years old? Perhaps there was some kind of contract/agreement that they would hold them for 100 years?

I know of other examples where people are constrained from selling something until a "milestone" date is reached. Stock from an IPO for example, are requierd to be held for a specific time before they are able to sell. (I know, this is for completely different reasons, but it's the only example I can come up with right now . . . lack of sleep I guess)

Mark

ps. i eneded up biting the bullet and getting a 1914 "Hand Picked" $5 and $10. I figure they were not that much over spot and I've always wanted to own these . . .

ajaan

I find it amusing that so many litesiders are calling these coins bullion.

candy2012mustang

Ive been battling them out about that issue!

No way are these coins just bullion - compairing them to first spouse gold coins??? hahahahhahah!!! Yea right!!!

coinpictures

I would consider them bullion... in the sense that they usually are priced based on their gold metal content, not numismatic value. The same is true of most "classic" gold coins, unless you have key dates or exceptional grades.

GotTheBug

I think that the prices for these pieces will start coming down once they are all issued and they start coming out graded by ICCS or PCGS or whoever. I'd be willing to bet that there will be a lot of flipping going on in the short run, until the novelty wears off.

Now if only somebody would release a stash or hoard of 1916-C sovereigns. Wouldn't that be something!

TomB

I think these are wonderful coins being offered in a very interesting manner and will be following this closely. I've also purchased some pieces and view the purchase as having little downside other than the support price of gold.