I've been buying quite a bit of 80% silver Canadian Dollars and half dollars. I've started doing this because the price of silver is pushing $40 oz. I bought most of my stack when the price was $20-$25 oz and I think buying nice AU/MS candadian stuff for 20-25% under spot is a good move. However, if dealers are willing to sell me these coins at 20-25% under melt maybe they know something I don't....as in it is hard to move this stuff and/or that it always sells at a significant discount....like 40% Kennedys and Ikes. Anybody else buying Canadian for a bullion play? If so, have you ever tried to sell any? If yes...any problems??? Maybe I should have thought about this before I bought the stuff, eh?
It's difficult to sell Canadian silver, yes. Also, since it's not 90%, there are problems (I don't know how to describe it otherwise) with smelters offering less (anything under coin gets priced as "scrap") than spot. That said, I don't mind it as a bullion play. Just be sure you're getting coins that aren't too damaged. A freshly minted Canadian silver dollar contains 0.600 Troy Ounces actual silver weight ("OzT ASW"). A Canadian silver half dollar would contain 0.300 OzT ASW. Damage/circulation would lower that amount.
