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The RFD Gold & Silver Coins/Bullion/Precious metals thread

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  • Oct 1st, 2019 5:01 pm
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Deal Addict
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Feb 6, 2012
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Gloucester, Canada
Maye it's just me but I like some of these Rounds from TD. Especially the lunar one. Don't like the price but might pick some up just for fun
Fizz & Public Mobile customer
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Dec 21, 2010
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Richmond Hill, ON
ol2006 wrote:
Nov 9th, 2018 12:06 pm
They sell coins for more because of potential numismatic value(not going to happen) and just because of more demand (people like the image of the Queen?).
But the truth is: when you need to sell, the value is the same. So I would buy bars instead of coins.
Not always true. Spoke with https://canadianpmx.com/
They confirmed that they buy bars cheaper than coins. Feel free to call them to confirm
Here is what I got for Dec 03 date
BAR 1oz they buy 1560/ sell 1678
COIN 1oz they buy 1576/ sell 1689
_______
You will sell coins for more. Benefits of coins are - more protection features/ easier to sell/ easier to store
Plus coins could be carried with you without paying extra duty/ taxes when you travel to some countries (depends on specific country import laws)
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Dec 14, 2008
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Whitby
davka wrote:
Jan 26th, 2019 3:41 pm
metals are up
any idea why
Price dropped out of the channel for a week, and has now corrected. Next step is to break through resistance at $1,300.

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Jun 15, 2012
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Saskatoon
Canadian Gold Maple Leaf is legal tender, as is the American Gold Eagle. He explains all coins produced by the mint are legal tender – meaning they can be exchanged for goods or services at face value – but only circulating legal tender can be readily spent and traded at business and banks.

Non-circulating legal tender refers to items like Fokine’s silver coins and designated collectibles. Reeves says business can accept the money at face value if they choose, but they’re also free to reject it.
Does it mean I must declare the face value of $50 for gold/platinum ounce maple leaf, American eagle coins?

Therefore I don’t have to declare anything if I carry less than 200 coins? ($10000)
'The rich get richer and the poor get - children.'
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Nov 29, 2006
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ukrainiandude wrote:
Jan 31st, 2019 12:37 pm
Canadian Gold Maple Leaf is legal tender, as is the American Gold Eagle. He explains all coins produced by the mint are legal tender – meaning they can be exchanged for goods or services at face value – but only circulating legal tender can be readily spent and traded at business and banks.

Non-circulating legal tender refers to items like Fokine’s silver coins and designated collectibles. Reeves says business can accept the money at face value if they choose, but they’re also free to reject it.
Does it mean I must declare the face value of $50 for gold/platinum ounce maple leaf, American eagle coins?

Therefore I don’t have to declare anything if I carry less than 200 coins? ($10000)
do you mean for 'carry' across the border ?
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Dec 23, 2015
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ukrainiandude wrote:
Jan 31st, 2019 12:37 pm
Canadian Gold Maple Leaf is legal tender, as is the American Gold Eagle. He explains all coins produced by the mint are legal tender – meaning they can be exchanged for goods or services at face value – but only circulating legal tender can be readily spent and traded at business and banks.

Non-circulating legal tender refers to items like Fokine’s silver coins and designated collectibles. Reeves says business can accept the money at face value if they choose, but they’re also free to reject it.
Does it mean I must declare the face value of $50 for gold/platinum ounce maple leaf, American eagle coins?

Therefore I don’t have to declare anything if I carry less than 200 coins? ($10000)
You need to declare the actual value. You would have a tough time convincing them you had no idea of the actual value of those coins after they confiscate them.
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Jun 15, 2012
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Saskatoon
6060842 wrote:
Jan 31st, 2019 5:11 pm
You need to declare the actual value. You would have a tough time convincing them you had no idea of the actual value of those coins after they confiscate them.
Could you please share a link with confirmation that a coins face value is negligible?
I agree if comes to bullion or coins without face value and not being a legal tender as such.
'The rich get richer and the poor get - children.'
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Jun 15, 2012
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Saskatoon
kawayam wrote:
Jan 31st, 2019 3:05 pm
do you mean for 'carry' across the border ?
Yes
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ukrainiandude wrote:
Jan 31st, 2019 6:28 pm
Could you please share a link with confirmation that a coins face value is negligible?
I agree if comes to bullion or coins without face value and not being a legal tender as such.
Surely you're not serious. Maybe you could contact the Sinaloa Cartel and let them know that you have thought of a new way to transport large sums of money across international borders.
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Jun 15, 2012
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Saskatoon
6060842 wrote:
Jan 31st, 2019 7:50 pm
Surely you're not serious. Maybe you could contact the Sinaloa Cartel and let them know that you have thought of a new way to transport large sums of money across international borders.
It is irrelevant what I reckon. I would rather have a read from Cbpa or cbsa websites.
I don’t believe cartels have any straggle.
Why else coins would be recognized a legal trade and have a face value? BofC sense of humour?
Perhaps the very next thing would be our $100 bill is not hundred anymore.
'The rich get richer and the poor get - children.'
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May 31, 2018
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Saskatchewan
ukrainiandude wrote:
Jan 31st, 2019 12:37 pm
Canadian Gold Maple Leaf is legal tender, as is the American Gold Eagle. He explains all coins produced by the mint are legal tender – meaning they can be exchanged for goods or services at face value – but only circulating legal tender can be readily spent and traded at business and banks.

Non-circulating legal tender refers to items like Fokine’s silver coins and designated collectibles. Reeves says business can accept the money at face value if they choose, but they’re also free to reject it.
Does it mean I must declare the face value of $50 for gold/platinum ounce maple leaf, American eagle coins?

Therefore I don’t have to declare anything if I carry less than 200 coins? ($10000)
You *may* get 199 silver coins across the border without declaring them (or the customs officer will accept your line of reasoning if they find them in a search), however if you then sell the coins for a higher amount than the face value you would then be subject to capital gains tax.

Why not just declare the approximate actual value at the border as you cross? Much easier, simpler and less hassle in the long run than getting dodgy about how much the 10 pounds of silver in your bag is actually worth.
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Sep 20, 2013
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Sault Ste Marie
FarmerHarv wrote:
Feb 1st, 2019 8:44 am
You *may* get 199 silver coins across the border without declaring them (or the customs officer will accept your line of reasoning if they find them in a search), however if you then sell the coins for a higher amount than the face value you would then be subject to capital gains tax.

Why not just declare the approximate actual value at the border as you cross? Much easier, simpler and less hassle in the long run than getting dodgy about how much the 10 pounds of silver in your bag is actually worth.
I hope you all realize that even bringing gold or silver coins into the US from Canada makes them immediately available to asset forfeiture and they don't have to prove a thing all they have to claim is that they think you came upon them illegally and seize them. The onus and cost to prove otherwise is on you not them, its legal theft by the US government.

Its a much easier to seize a handfull of gold/silver coins than a car or any other item including cash since the compactness is so much more, Why take the chance?

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