Canada new 20$

[Numismaticavisual]

Canada has issued a silver coin of 20 dollars you can buy for 20 dollars.

http://www.mint.ca/

[kena]

Not a bad deal for our friends in Canada.

Wish other countries would do such offerings.

[Figleaf]

There are other such offerings. France issued a series of silver and gold at face last year and there are other examples. They were refused in the shops. Though the French government said in its brochures that they would like to see the coin circulate, they had only informed collectors of its existence. Makes one wonder...

Peter

[chrisild]

Wish other countries would do such offerings.

Some do. Keep in mind that, with such pieces, the intrinsic value at the time when they are issued is lower than the face value. This piece has a weight of about 8g for example: http://www.mint.ca/store/product/product_exchange.jsp?itemId=prod1040001&pCatId=cat410002 Silver is at roughly $30/oz.

What is sure different is that the Canadian piece is pure (9999) silver. Other silver coins that can be had at face are Ag 900, 835 or 625 for example. But I suppose that those who are primarily interested in the "silver" aspect will rather buy bullion pieces.

Christian

[chrisild]

They were refused in the shops.

So what - people who "buy" such coins at face will primarily want them for their collections, and may put some aside. What makes them attractive is not that you can theoretically buy your groceries with a silver or gold coin provided you do that in the issuing member state and not anywhere else in the currency union. What is interesting is that you can get them at face and, if necessary, turn them into "real" money again later. And if at some point the intrinsic value exceeds the face value (e.g. the German €10 pieces until 2010), that is an extra bonus.

Christian

[Bimat]

The link given by Christian also mentions that:

[..]Only 1 in every 175 Canadians can own one[..]

Nice marketing strategy..

If you are living in Canada, shipping is free by lettermail.  

Aditya