Canadian $20 for $20

[jason1977]

Being new to the silver game having only a coin collection comprised of a few morgans, peace, barbers, mercurys, etc; along with 8 ounces of bar bullion purchased in the past week, I've stumbled upon an ad for Canadian $20 silver coins, but they're only 1/4 ounce.

It seems to me $20 for 1/4 ounce isn't much of a deal though it is being passed off as such. Limit is 3 per household when buying, and I can't seem to make sense of $60 for 3/4 ounces of silver. If I knew I was buying a darn fine Morgan, I'd be able to justify it, but these $20 for $20 coins don't just seem to cut it in my mind's eye. Thoughts? I'm still in a place where I have a ton to learn But that's what my gut tells me.

[jason1977]

By darn fine Morgan I mean $60, not $20, lol

[morezone]

I think it's the X$ for X$ program that you're talking about here.

It's not about how much silver you get but the face value of the coin.  They have a $200 for $200 coming soon and $200 will get you 2 ounces.  2 ounces is not worth anywhere near $200 but the coin is technically worth $200 as it's legal tender.

 

Don't forget these coins are proof.  The $100 will get you 1 ounce of silver.  In GBP that would be £54 or so.  A 1 ounce proof silver coin sold by our Royal Mint at £54 would be a bargain price compared to their usual £80 or so.

When compared to the Perth Mint, it is still very favourable as their 1 ounce proof stuff usually costs around £50.

The other RCM 1oz proofs usually cost $90-$110 so sitting right in the middle it isn't any more expensive than their usual offering.

 

Are these coins worth it?  Technically you can't lose due to the face value and doesn't cost any more than the usual RCM proof.