Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Circulation Values for Precious Metal coins
>
Reply to Thread
Message:
<p>[QUOTE="Cloudsweeper99, post: 187483, member: 3011"]I wrote to ScotiaBank a few years ago about the $5 face value of the Canadian Maple Leaf silver bullion coin, and whether or not it could be redeemed for $5 in the event silver went below that value. They replied that the government puts a face value on the coin because it permits the coins to cross international borders duty free in the case of many nations because it technically qualifies as money and not as a commodity. But the existence of a face value doesn't make it redeemable at that price at any Canadian bank because it is not a circulation coin.</p><p><br /></p><p>I presume, but have not checked, that this might be the reason for putting a face value on US bullion as well.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 187483, member: 3011"]I wrote to ScotiaBank a few years ago about the $5 face value of the Canadian Maple Leaf silver bullion coin, and whether or not it could be redeemed for $5 in the event silver went below that value. They replied that the government puts a face value on the coin because it permits the coins to cross international borders duty free in the case of many nations because it technically qualifies as money and not as a commodity. But the existence of a face value doesn't make it redeemable at that price at any Canadian bank because it is not a circulation coin. I presume, but have not checked, that this might be the reason for putting a face value on US bullion as well.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
Coin Chat
>
Circulation Values for Precious Metal coins
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...