The worst silver I bought?

in steemsilvergold •  6 years ago 

I got this coin a while back. At that time, I was a newbie to silver coins, and this seems somewhat legit.

This is the $20 for $20 2011 commemorative coin. Paying CAD$20 paper fiat for a CAD$20 face value silver coin. It was only 1/4oz of silver (7.96gm). 200,000 minted.

This is the full view of the coin from catalog.
20for20.jpg

The coin came in a sealed package, which I never opened. So, I have never seen the back part of this coin!!

This is how it is supposed to look !

However, think of it. I paid CAD$20 for only 1/4 oz of silver. That is CAD$80/oz!!! Way too expensive!!

It was the highest Canadian face value of silver coins at that time though. To put myself at ease, I think of this coin as fiat, with some silver content. Keeps me from beating myself up.

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@khamen if it makes you feel any better I got the Hook in my Mouth too..........Never Again.......

Welcome to the club!! We all learn!

I have a french 0,2 T OZ gold coin with face value of 250 EUR and paid ....250 EUR. Gold value still is a little lower, Issue is only French banks give you EUR 250 for th ecoin (they say).

Yes, gold is still a little lower, but at least not 4x lower! It should be worth more than face, when gold trends up!

I’ve got a few of those too buddy — it’s how we learn...

😎👍

Yes, live and learn.

I subscribed to the whole series. $20 $50 $100 and $200 coins. Got all of them but sold all of my $50 $100 and $200. I still have the whole set of $20 for $20.

In the end, it worked out to be a great way for me to save dollars, and I turned them in at RBC one day and bought some silver and gold with it.

Yes, I suppose now is a good time to turn it in for face value fiat cash, and buy ~ 1+ t oz of silver. At least 4x more silver.... worth a thought.