Anything that sound too good to be true, well, you know how that ends.
But there actually is a way to purchase physical silver with a zero chance of loss, courtesy of the Royal Canadian Mint (RCM).
For the first time ever, the RCM is offering a coin with a face value of $100 at a price of $100. Here are the details courtesy of the mintnewsblog.
Following the success of their “$20 for $20″ silver coin program, the Royal Canadian Mint has launched a new series which uses the same concept for a larger face value.
Orders are now being accepted for the first “$100 for $100″ silver coin, which is the initial release for the Wildlife in Motion series. The RCM indicates this is the first time in history that $100 can buy a coin worth $100.
The reverse of the coin designed by Claudio D’Angelo features three members of a herd of stampeding bison racing across the grassy prairie. The bison are pictured in profile, illustrating the movement and momentum of the massive creatures. The background shows foothills which are backed by a jagged mountain with clouds above. The inscriptions read “Canada 2013″ and the legal tender face value of “$100 Dollars”.
The obverse of the coin features the portrait of Queen Elizabeth II designed by Susanna Blunt.
The 2013 $100 for $100 Bison Silver Coin is struck in 99.99% pure silver with a weight of 31.6 grams (1.016 troy ounces) and diameter of 40 mm. The maximum mintage is limited to 50,000 pieces with a limit of three coins per household.
These coins are available for sale priced at their face value of $100 CAD. The product page can be found here.
This is about as close to a sure thing as you can find in life. The coin will always have a value of $100. If silver prices increase to $200 per ounce, the coin would be worth about $200 based on the silver content of 1.016 troy ounce.
Wrong.
You do lose. You lose the ability to buy four 1 oz silver coins for $100.
When silver hits $200 an ounce, with four coins, you’ve got $800. That’s a $700 profit.
It’s a sure thing alright. It’s a surefire way of paying an extra $75 for the privilege of missing out on $600 in the long run. Caveat Emptor.
The first comment is correct.this is a major marketing scam. A 100 dollar Canadian coin at $22 of silver is a Fiat hundred dollar bill backed by 22 percent silver.As a previous comment said this is 400 percent over premium therefore silver has to go to $100 just for you to break even in the silver market.you will have lost the Profit opportunity as a previous commenter said in the silvermarket. However in the Fiat currency market as all fiat currencies are basically being expanded you will lose the purchasing power of the 100 dollars in Canadian fiat currency if the Canadian dollar gets devalued. Major marketing scam do not buy this coin.
Geez,
What a bullshit deal. 1oz. of silver for the price of 3. What you’re smoking must be getting to your brain !
Reminds me of the $1 trillion platinum coin.
The premis that this coin is an silver investment is incorrect. This coin’s investment value lies in the probability that its price will increase due to demand from coin collectors.
The fact that this coin is legal tender eliminates the possibility that your initial investment will fall below your purchase price as long as the Government of Canada is solvent. If the Canadian government defaults, your losses will be minimized or possibly eliminated depending on the price of silver when this coin is melted and sold for its silver content.
Show me the law proving that these coins are not another RCM “dollar for dollar” scam, but legal tender throughout Canada, and I’ll give you one French 100 euro silver Hercules coin for two of these…
This coin is AWESOME!!! Think about it like this, you own eagles and maples, you also have some cash. Why not convert that cash to these coins, because your cash can go to zero but the coin will always be worth something.
Woah!! This is too good to be true. I believed it when I checked it out on the official site of Royal Mint of Canada. Given that the coin is struck in 99.99% pure silver and has a decent mintage coupled with the restriction of one coin per household, the value of this coin is sure to go up. Being ‘A First for Canada’ it already has huge intrinsic value to it.