Two Canadian Gold Coins
BillJones
Posts: 34,239 ✭✭✭✭✭
I have been intrigued with the short-lived Canadian $5 and $10 gold pieces that our neighbors from up north issued from 1912 to 1914. Finally have looking at these coins at several shows, spread over a number of years, I purchased one of each for type.
The Royal Canadian Mint in Ottawa began operation on January 2, 1908. Its first gold coins, which were British sovereigns were produced that year, although the series didn't really start for commerce until the following year.
In 1912 the Ottawa Mint started produce $5 and $10 gold coins that were patterned after their U.S. counterparts. These pieces featured the image of King George V on the obverse and the Royal Canadian Seal on the reverse. Production ended in 1914 because of the First World War in an effort to control the flow of gold during that conflict. The United States took similar steps during the same period. Unlike The United States, the Canadian Mint did not resume its gold coinage after the war although the Ottawa Mint continued to strike British sovereigns until 1919.
During the war the Canadian Government removed about 300,000 of its $5 and $10 gold coins from circulation and kept them in storage. A few years ago the Royal Mint released about 30,000 of these coins, which had some numismatic value. The rest which were circulated or damaged have been melted. Despite the fact that about 270,000 pieces have been melted, I have noted in my Internet research that coins in less than AU condition are only worth their melt value.
So there you have it. A true series of "Rodney Dangerfield" coins that "don't get no (or much) respect." At 100+ years of age one would think that some of these coins would suffer a better fate than a mass melting by a government mint. And you would think that a 100+ year old gold coin would be worth more than melt, but such is the fate of some coins in the Canadian series.
ries.
Comments
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
I think they are rather attractive.
RMR: 'Wer, wenn ich schriee, hörte mich denn aus der Engel Ordnungen?'
CJ: 'No one!' [Ain't no angels in the coin biz]
+1
out of the many 20th century foreign gold, for some reason this one doesn't do it for me.
BUT
when you look at mexico, france, aussie etc, this particular canada issue is not nearly as creative/beautiful. imo
not that im knocking them. just one of the few issues not on my list. perhaps other denoms/decade have a design more to my taste.
although, i buy other coins with a similar design and dont need to loke the design to but them. i buy em for scarcity, popularity etc.
wouldn't mind seeing one in 64 or higher.
.
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I purchased the pair of $10's in that disastrous promotion from the Canadian Mint a few years back. I regret the purchase whenever I see the coins in the SDB.
I looked at those coins and didn't like the way they looked, and the pricing policy put forth by the dealers who offered them. When I was told I had buy the whole set with a bunch of marked up coins I didn't like at the FUN show, I said, "Pass."
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But since the great outpouring of material from the ROM a few years ago, their value today is just bullion, except in the highest of grades.
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
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But I think the obverse design in the shield on these are pretty nice.
In honor of the memory of Cpl. Michael E. Thompson
Many countries, including The United States, are issuing too much of this stuff. This modern commemorative, non circulating stuff takes up so much room in the foreign coin catalogs, that you now have to buy 20 "phonebooks" to look up the coins that are of real interest. I wish that that catalogs were available that covered only the made for circulation coins that didn't have all of the useless pages that just take up space.
Cheers, RickO
You don't like the design?
I think they are rather attractive.
so do i.
As it seems to be with many gold coins, the obverses are not as nice as the reverses. The reverse on the $5 grades MS-65 in my opinion.
I've been collecting Canadian coins for about 11 years and the $5 and $10 gold used to have a better "reputation" for lack of a better word, before the RCM released the hoard. I owned a 1912 $10 in a PCGS MS61 holder that had more eye appeal than most of the MS64's I've seen, and a 1912 $5 graded MS63 by PCGS that looked better than any of the MS65 RCM-released pieces. I traded them away for a rare sovereign, figuring that I could always find others if I needed and boy, are they available like crazy now.
In my opinion, the vast majority of the RCM released coins are not worth owning because they are loaded with bagmarks and rim nicks, and I'm not just talking about the lower grades. Anyone who really wants to own one of these would be better off looking for pieces that were graded by PCGS several years ago, and that can still be found in OGH and the older blue holders. As far as the RCM releases - PASS....
I have no dog in the fight regarding the grading of these coins, though the ones I saved for myself or offered my clients were truly superior to others I have seen on the bourse. However, I would argue that declaring a "PASS" on these coins might be a mistake if one wants to own century old gold with a known history and that has remained unboinked. Essentially, don't throw the baby out with the bath water.
In honor of the memory of Cpl. Michael E. Thompson
I've been collecting Canadian coins for about 11 years and the $5 and $10 gold used to have a better "reputation" for lack of a better word, before the RCM released the hoard. I owned a 1912 $10 in a PCGS MS61 holder that had more eye appeal than most of the MS64's I've seen, and a 1912 $5 graded MS63 by PCGS that looked better than any of the MS65 RCM-released pieces. I traded them away for a rare sovereign, figuring that I could always find others if I needed and boy, are they available like crazy now.
In my opinion, the vast majority of the RCM released coins are not worth owning because they are loaded with bagmarks and rim nicks, and I'm not just talking about the lower grades. Anyone who really wants to own one of these would be better off looking for pieces that were graded by PCGS several years ago, and that can still be found in OGH and the older blue holders. As far as the RCM releases - PASS....
I have no dog in the fight regarding the grading of these coins, though the ones I saved for myself or offered my clients were truly superior to others I have seen on the bourse. However, I would argue that declaring a "PASS" on these coins might be a mistake if one wants to own century old gold with a known history and that has remained unboinked. Essentially, don't throw the baby out with the bath water.
None of the examples of that hoard that I saw at the bourse tables or offered on line pleased me at all.
Canada $10 1914 Gold
I like the reverse shield design, it is so "British" much like a George III Guinea.
I later bought a $5 1913 coin which was not in as good shape.
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