Anyone from Canada know...

[scotto]

Does anyone from Canada know what the going price for 80% Canadian dollars is north of the border. The pre 67 stuff. Just curious if there is an arbitrage oppotunity there.

[Morsecode]

I'm not in Canada, but I am awake at 1:30 in the morning...so I'll weigh in anyway. (hang in there, you'll get better replies later.)

Probably is a little wiggle room on pricing, but the mere fact that one of our northern members isn't already engaged in it tells me it's not enough to offset shipping and Customs woes.

Of course, I'm assuming no-one here is doing it outside the Forum. Maybe they are...and making a bundle they don't want to talk about

[Shazbot57]

Does anyone from Canada know what the going price for 80% Canadian dollars is north of the border. The pre 67 stuff. Just curious if there is an arbitrage oppotunity there.

Not sure what they're "going for" but you can find out melt value on coinflation.com under the countries tab for Canucks-land(Canada).

Here's a price guide with buy and sell prices from a coin shop I found online. Not sure how competitive they are but...
https://www.scoins.com/pricelist/silverexpanded.aspx

Best of luck from out here in flyover country.

[TwoPenniesEarned]

They are hard to find. You can buy them at spot now and again. Normally you have to pay a 5-10% premium. The easy stuff is gone. I used to be able to buy large quantities at spot. Now I only find dimes at spot.

[fansubs_ca]

Most coin shops up here tend to send them to refiners rather than to sell to
individuals as "junk silver" so the Canadian coins have/are disapearing way
faster than the U.S. ones. Part of the problem is that many provinces like
Manitoba tax coins so investors are more likely to buy bars of silver. So
other than in Alberta they don't really sell well over the counter. (I understand
that in Alberta usualy if a coin shop gets them in they will sell in a flash if
they price them reasonably, on Silverseek there was a guy from Calgary
that posted that.)

That said any Canadian individuals that are able to buy them from U.S. sources
for about the same cost/ounce as U.S. junk silver will often buy them at that
price if they are able to economically and securely get them up here.

One problem with mailing is any goods crossing the border are required to have
a customs declairation on the outside of the package so everyone along the way
knows exactly what's in the box which causes a security concern. (Most mailmen
are honest but it only takes one bad apple along the way and that customs
declairation makes it a bit too easy for that bad apple.)

However people like JadeDragon who have a U.S. mailing address can get them
delivered there and bring them over in person so the only person they really
have to tell is the customs agent who is immediately in front of them. (Assuming
they even bring them back and don't store them in the U.S. in which case you
don't have to tell anyone that you have them.)

In my case I don't have a U.S. address nor is it practical to travel on short notice
so I can really only buy them if I happen to be in the U.S. and am at a coin shop
that happens to have some in stock at that exact moment I happen to be there.
(Winnipeg is 60 miles from the border, then it's annother 140 miles to the first
city of any significant size, whereas the Vancouver Metropolitan area is pressed
up against the border.) Since that level of coincidence doesn't happen much I
usually end up buying U.S. 90% when I make a purchase in the U.S., though
one time I also got a few Canadian Silver Dollars.

So if you are thinking of selling them up here to a dealer they'll probably pay
you less than melt, a sale to an individual you'll probably get about spot. I seem
to remember when Nickelmeister was on here he'ld post an offer to buy at 90%
of spot but I'm going by memory on that one.

How cheap can you find Canadian 80% in your area and how close are you to
Canada? If you can get them really cheap in your area you might be able to
profitably sell them to other members here. If you are close enough to the
border and are able and willing to mail them from the Canadian side so it doesn't
have to go over the border through the mail you might have a larger potential
market than if you can only ship from the U.S. side.

[JadeDragon]

I drove from Winterpeg down to that first US town one winter - what a desolate trip. We got searched by US Customs pretty carefully since few tourists do that trip. I don't buy silver coins in Canada, and rarely sell anything, so I can tell you much about Canadian values.

[scotto]

Thanks Fan.. I never knew ther was a sales tax in Canada for the sale of coinage.