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CDN Bullion Prices

VeepVeep Posts: 1,509 ✭✭✭✭
in U.S. Coin Forum
This question from my Dad: In the CDN, silver bullion prices are listed on the front page. How can 90% circ bags be $4,300 bid, $4,500 Ask and only $3,682 melt? On the other hand, War Nickles are $820 Ask and $1,145 melt. Can someone help me to understand?

Thanks!
"Let me tell ya Bud, you can buy junk anytime!"

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    VeepVeep Posts: 1,509 ✭✭✭✭
    ttt
    "Let me tell ya Bud, you can buy junk anytime!"
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    JasonRoxJasonRox Posts: 47
    They want you to melt them. image
    I collect Canadian coins! Almost done completing me 1900-2000 Set of Cents! What shall I do next?
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    VeepVeep Posts: 1,509 ✭✭✭✭
    ttt

    Maybe the day shift has some input. >> Thanks
    "Let me tell ya Bud, you can buy junk anytime!"
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    BigEBigE Posts: 6,949 ✭✭✭
    Veep, I don't know if this will help with your question, but bags fluctuate on the own with supply and demand and are only partially reliant on the spot price of silver-----BigE
    I'm glad I am a Tree
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    DeadhorseDeadhorse Posts: 3,720 ✭
    Veep, there is something wrong with those numbers. a $1000 face bag of melt silver coins contains 715 ounces of silver.

    Multiply spot silver times 715 and you will get the value of said bag. The numbers you posted would require silver to be around $6 an ounce and it's nowhere near there yet.

    Generally speaking, melt silver coins do not carry the same over spot premium that bullion does.

    If someone were to offer me $4500 per $1000 face bag, I would be happy to load up their truck today.
    "Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose."
    John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
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    VeepVeep Posts: 1,509 ✭✭✭✭
    There was no typo in my figures. You can look at recent back issues and see similar price relationships.

    " If someone were to offer me $4500 per $1000 face bag, I would be happy to load up their truck today."

    I was thinking the same thing. I have sent the same question to CDN. I'll post their reply.
    "Let me tell ya Bud, you can buy junk anytime!"
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    cdmeadcdmead Posts: 121
    War nickels wholesale below melt because of the alloy. It costs basically more than it's worth to part the silver out.

    Also the $4500 bid you quote for a $1000 face wholesale bag is for uncirculated coins. Circs trade closer to melt at $3600 bid.

    Charlie image
    There's nothing in the rule book that says an elephant can't pitch.

    image

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