Royal Canadian Mint Offers $100 Silver Coin for $100

Following the success of their “$20 for $20″ silver coin program, the Royal Canadian Mint has launched a new series which uses the same concept for a larger face value.

Orders are now being accepted for the first “$100 for $100″ silver coin, which is the initial release for the Wildlife in Motion series. The RCM indicates this is the first time in history that $100 can buy a coin worth $100.

Buffalo $100 Silver Coin

The reverse of the coin designed by Claudio D’Angelo features three members of a herd of stampeding bison racing across the grassy prairie. The bison are pictured in profile, illustrating the movement and momentum of the massive creatures. The background shows foothills which are backed by a jagged mountain with clouds above. The inscriptions read “Canada 2013″ and the legal tender face value of “$100 Dollars”.

The obverse of the coin features the portrait of Queen Elizabeth II designed by Susanna Blunt.

The 2013 $100 for $100 Bison Silver Coin is struck in 99.99% pure silver with a weight of 31.6 grams (1.016 troy ounces) and diameter of 40 mm. The maximum mintage is limited to 50,000 pieces with a limit of three coins per household.

These coins are available for sale priced at their face value of $100 CAD. The product page can be found here.

Comparisons to $20 for $20 Silver Coins

The Royal Canadian Mint has released eight coins under the “$20 for $20″ program.

The $20 silver coins are struck in 99.99% silver with a weight of 7.96 grams (0.256 troy ounces). The new $100 silver coins are struck in 99.99% purity with a weight of 31.6 grams (1.016 troy ounces). This represents less silver content proportional to the face value when compared to the $20 coins. Five times the weight of the $20 coin would have been 39.8 grams.

The diameter of the $20 coins is 27 mm compared to a diameter of 40 mm for the $100 coins.

The finishes of the coins differ. For the $20 coins, a specimen finish is used, compared to a matte proof finish for the $100 coins.

The $20 coins have carried mintage limits of 250,000 each. The $100 coins carry a mintage limit of one-fifth the amount at 50,000 pieces. Both programs have imposed a limit of three coins per household.

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Comments

  1. Dave T says

    Have the $20 coins already been released? If so, are they trading at a premium price in the sencodary market?

  2. joe s says

    What a rip off. Why would anyone pay 100 for around 1 oz of silver? No wonder the Canadian mint makes so much profit. These coins will never gain that much collector value and to ask for so much initially is crazy in imy opinion.

  3. Tyler Durded says

    Stupid. You’ve lost $70 right off the bat when you purchase one of these. Unless you live in Canada. But who the heck wants to do that.

  4. Brad says

    Right. This coin is a way to buy some silver without putting your investment at risk. If you were to spend $100 on silver bullion coins right now, you could get about 4 of them. But, if the value of silver goes down the toilet, you’ve only got $4 USD (ASE) or $20 CAD (Canadian Maple Leaf) face value to cash in if need be. In this case, you’ve still got your initial investment of $100 CAD face value to cash in. So, your money is protected. If the value of silver goes way up, you get to reap some benefit from that, just not as much as if you had bought the regular low-face bullion coins. But if silver goes down, you have protection from that unlike the low-face coins. Win-win.

  5. G says

    It’s a coin collector’s dream: a coin that you can never lose money on.
    I think this will be a big hit. I expect it to sell out immediately. Any major bank will covert this to US dollars in a pinch. Now- when can we get gold buffaloes with 1000$ face value from the US mint?

  6. Mike Hansen says

    Von NuttHaus of NOR Fed was convicted and sent to prison for doing what
    the Royal Canadian Mint is doing. Go figger!

  7. Sam says

    I’m a fan as well, this looks like a great idea — and I second the request for a US Baffalo with a $1,000 face value. But the US Mint will never do something so clever!

  8. Robert says

    These coins are not legal tender for $100.
    A distinction between circulating legal tender coins and collectible coins was made by the Canadian mint. This was in response to a Canadian man, while in Canada, attempting to deposit the quarter ounce $20 coin in his Canadian bank. That wouldn’t let him and the mint took the side of the bank stating that he would have to sell them to a coin store. In the initial article, it was implied that it was a one ounce coin but it was actually the quarter ounce coin. In summary, of the mint puts $50 on a lump of steel, it’s worth $50. If they put $100 on a lump of silver, it’s worth whatever one ounce of silver is worth.

  9. Robert says

    These coins are not legal tender for $100.
    A distinction between circulating legal tender coins and collectible legal tender coins was made by the Canadian mint. This was in response to a Canadian man, while in Canada, attempting to deposit the quarter ounce $20 coin in his Canadian bank. They wouldn’t let him and the mint took the side of the bank stating that he would have to sell them to a coin store. In the initial article, it was implied that it was a one ounce coin but it was actually the quarter ounce coin. In summary, if the mint puts $50 on a lump of steel, it’s worth $50. If they put $100 on a lump of silver, it’s worth whatever one ounce of silver is worth.

  10. Ryan says

    Will the bank actually give you $100 for this coin? Not at todays silver price. This seems sketchy.

  11. Shutter says

    What a rip off. Why would anyone pay 100 for around 1 oz of silver?

    $100 or more is what RCM typically charges for 1oz silver proof coin. But most of those have a face value of $20 or so.

  12. JD says

    I had to call to order mine …the web site was overloaded and crashed….something about a good buffalo design just beckons to be collected …

    when is our Mint going to do something cool like this? …..would be a colossal hit!

  13. Mercury says

    If you can afford the 3 household limit then by all means. But at least purchase 1. It’s money in the bank. And probably a better future investment overall, being that during our recent recession the Canadian dollar was for a time worth more then our US dollar. Even now both dollars are pretty much neck to neck in value. Who knows what the next crash will bring, we know the Canadian actually increased in value. Things that make you go Hmmmm.

  14. Rick says

    I just purchased 3 online with no problem. I love silver bullion, but people should take a minute to understand the cleverness of the Royal Mint. This offering gives you a beautiful silver coin, backed by a $100 minimum Canadian fiat guarantee. As a US citizen, I wish our slow moving mint would think outside the box once in a while.

    I love the low 50,000 mintage as well. I can see an early sell out coming unless I miss my guess.

  15. CW says

    ‘Any major bank will covert this to US dollars in a pinch’. Good luck on that. The experience on the 20 for $20 coins has not been that way in Canada. You will likely have even worse luck in the US. https://www.kitcomm.com/showthread.php?t=106407

    Unfortunately, the claim appears to be unjustified no matter how much the mint says.

  16. John says

    Nice! Too bad the only thing we have are nickels that are worth 5 cents in copper / nickel and pre-82 cents worth two cents in copper. LOL

  17. Barry says

    Canadian Banks and Credit Unions will not honour these coins at face value. They will only accept general circulation coins. It was on the news last year when someone did take a $20 for $20 coin to a branch but was unsuccessful at redeeming. Note as well when you want to cash in a gold maple at a bank, they don`t offer you the face value of $50.00 but the buy rate of gold when they book a contract. These coins you can only sell them on the secondary market. This type of marketing is the reverse of historical numismatic coin sales where they charge a premium for a pure silver numismatic coin. Here they don`t charge a premium, but rather charge you `fair value`, and remove the value content from the coin.

  18. says

    Some posters don’t seem to understand that it may be worth $100 CAD in fiat money, but it’s only got $30 of silver in it. Government policy will still inflate it away, albeit at a slightly slower pace than their other offerings. Stay away from this nonsense. It is a scam designed to trick people into buying $30 of silver for $100.

  19. JD says

    Barry says:
    May 16, 2013 at 11:51 pm
    Canadian Banks and Credit Unions will not honour these coins at face value. They will only accept general circulation coins. It was on the news last year when someone did take a $20 for $20 coin to a branch but was unsuccessful at redeeming. …..

    This from Canadian Mint FAQ page: “More Sharing Services

    http://www.mint.ca/store/mint/customer-service/faq-1100010#Q1a

    General

    Can I redeem a collector coin at a bank or use it as currency to purchase goods or services?
    All coins manufactured by the Mint are legal tender. However, unlike Canadian circulation coins, collector coins are non-circulating legal tender (NCLT). As such, these coins are not intended for daily commercial transactions and accepting them as payment or for redemption is at the discretion of businesses and financial institutions.

    The Mint has a process in place to reimburse financial institutions the face value of redeemed NCLT coins, once they have accepted them from a customer and returned them to the Mint. In the event a bank branch is unaware of this procedure, customers are advised to contact the Mint with the coordinates of the bank branch, which will take steps to inform the branch of the redemption process.

    As collector coins can only be redeemed at face value by businesses and financial institutions willing to accept them, it is recommended that individuals wishing to sell a collector coin first consult with a coin dealer, who is more likely to offer a price above face value.

    JD says “This does give one pause….but I still think a great idea and great” design…

  20. Jay in NC says

    I live in the US and own a few retail stores and if the US Mint came out with a coin like this I would without question accept it at face value. Heck if the Canadian $ falls much more I will instruct my employees to accept these for face value as well.

  21. Greg says

    @Tyler Durded – “Stupid. You’ve lost $70 right off the bat when you purchase one of these. Unless you live in Canada. But who the heck wants to do that.”

    No one thinks twice when accepting a US dollar coin. It only has .06 value and your accepting it as $1. No wonder the US mint makes so much money. Thats 1700% gain for them. The Canadian $100 coin is only a 400% mark up.

  22. Rick says

    Buy the coin for it’s numismatic value and beauty. Buy it as a political statement – the first baby step back to a silver/gold bimetallic standard.

    At any rate, it’s a maximum investment of $300, so don’t sweat the small things. If you want a pure bullion investment look elsewhere.

    Great silver blog

    http://survivalus.blogspot.com/

    Rick

  23. A&L Futures says

    For whatever reason, the product page for this particular item now reads, “Phone Only.” Does this mean they’re close to a sell out or has the RCM website undergoing some form of maintenance?

  24. Jay in NC says

    I ordered my three on Wednesday and they already shipped out. I can’t imagine they would have already sold out but their $3,000 1oz. Platinum coins sell out within hours.

  25. A&L Futures says

    @ Jay in NC

    I’m also surprised with how quickly the RCM platinum coins sell out given their $3K price tag.

    No worries…I’ll have plenty of money come Saturday evening.

  26. hockey says

    i ordered 3 each of the 20.00 for 20 coins. Wanted to buy my first silver 10oz bar this summer. Sold the majority of my extra 20 for 20 coins at their face value to purchase the silver bar. Banks may not take directly but retail stores who sell coins offer fulll value for them if not more

  27. TomP says

    I too thought about the $70 profit per coin of the RCM, but bought one anyway. It’s the first of a series (I’m sure there will be more) and the mintage is limited to 50000.

    I would never, ever trade any of my Canadian money over to a US bank for US dollars as the fees they charge are outrageous. Besides they won’t take coins anyway. Of course that’s easy for me to say since I’m only a 6 hour drive to the border.

  28. A&L Futures says

    @ Jeff

    The RCM hasn’t yet listed this offering as SOLD OUT yet. Not that I’m doubting you, but how did you come to acquire this information? I purchased three of these on the 16th.

  29. Hidalgo says

    All US Mint coins have a face value — even those that are not intended for general circulation. For example, the America the Beautiful 5 ounce silver coins have a face value of 25 cents. However, I question if any US establishment would accept these specially-minted coins as legal tender.

  30. Ari says

    Many people doesn`t understand the difference between a bullion coin and a collecting coin (NCLT).
    In the case of a collecting coin, the amount of silver (or gold) is not the inly factor to determine the market price.

    BTW….. this coin is already SOLD OUT at the Mint web site.

  31. hockey says

    its about time the government and the rcm get their act together. If they put a face value on their coins…then its legal tender. I will pay any taxes owed with this 100.00 coin next year and they damn well will take it if i so choose.

  32. Andrew Boyle says

    This is copied and pasted directly from the Royal Canadian Mint web page.

    Can I redeem a collector coin at a bank or use it as currency to purchase goods or services?
    All coins manufactured by the Mint are legal tender. However, unlike Canadian circulation coins, collector coins are non-circulating legal tender (NCLT). As such, these coins are not intended for daily commercial transactions and accepting them as payment or for redemption is at the discretion of businesses and financial institutions.

  33. CW says

    Just think if they had put this design on the recently released wildlife series. It seems there are two tiers to artwork on Canadian coins. I absolutely love this design; I just can’t bring myself to spend 5x the silver value on this. I wonder if the RCM is really losing sales by pricing many of their offerings way outside what people want to spend. Make coins like this $45 (minus shipping) and I will buy every one and just bite my lip on the premium.

  34. Goat says

    What Canada is telling the people, silver will be $100 oz. before long so Canada is safe . It’s funny how information gets out to the public. INFLATION ?

  35. Lostwords says

    These are NCLT coins. As stated by Andrew Boyle, business and bank are not obligated to accept these. Due more to an article written about $20 for $20 last year, the mint learn to communicate with the banks and many banks do accept the $20 for $20 coin as deposit. Let looks at it this way, for those with the new polymer money, the vending machines don’t even accept them. how about, try to go to a corner store with a $100 bill, see how many of them willing to accept them?

  36. G says

    This was a sure winner and sold out, to fully move the Canadian mint into its status as the hottest world mint.

  37. Hidalgo says

    The Royal Canadian Mint did not sell all 50,000 pieces on its own. The mint uses authorized dealers to sell its coins. In fact, if you still want one (or several) of these coins, just check them out.

  38. hockey says

    All coins manufactured by the Mint are legal tender. However, unlike Canadian circulation coins, collector coins are non-circulating legal tender (NCLT). As such, these coins are not intended for daily commercial transactions and accepting them as payment or for redemption is at the discretion of businesses and financial institutions.

    The Mint has a process in place to reimburse financial institutions the face value of redeemed NCLT coins, once they have accepted them from a customer and returned them to the Mint. In the event a bank branch is unaware of this procedure, customers are advised to contact the Mint with the coordinates of the bank branch, which will take steps to inform the branch of the redemption process.

    As collector coins can only be redeemed at face value by businesses and financial institutions willing to accept them, it is recommended that individuals wishing to sell a collector coin first consult with a coin dealer, who is more likely to offer a price above face value.

    if your bank is reputable–just tell them there is a procedure to take these back—they will

  39. VABEACHBUM says

    The more I see the great artwork from the various world mints, the more I wonder why our US Mint continues to struggle with meeting the challenge. Granted, the Legislation often dictates the direction of the artwork, but even when it includes language like “representative of” or “characteristic of,” our artists and sculptors still seem to fall off the Allegory Train right in front of Literal Lane. If this first issue is indicative of this RCM series, I’m in for at least one of each issue. (Buy what I like and can afford!!)

    Following up on Hidalgo’s comment, Gatewestcoin is an example of an authorized dealer for the RCM, and currently shows this coin in stock and available for shipping. Household limit of 5 coins; slightly above RCM sales price; $5.00 flat ship fee to US addresses. I have purchased from them previously with great results each time.

  40. ed says

    one of the dudes made a very good point in one of the thread links and that was if you use it pay a debt such as go in to make a credit card payment, they have to accept it. Simply because it is legal tender but if you want to exchange it for paper or circulating currency they don’t have to accept it. This makes perfect sense to me and is probably the big reason US bullion coins will always have a lower denomination value. They know you’d be quite foolish to exchange an ounce of silver for one dollar’s worth of debt.

  41. Dan says

    I have simple question. Is this 100$ coin legal tender or non-circulating legal tender. The Mint website does not specify. Do I assume NCLT?

  42. Amy says

    Dan: These $20 for $20 and $100 for $100 coins are Non-circulating Legal Tender. Good luck finding a bank that will give face value for them. I haven’t been able to find one. I am very disheartened right now. I am calling some coin shops tomorrow. I was led to believe that if I needed the money, I could change these to Legal Tender at the bank and that just isn’t the case.

  43. cecilia lindstrom says

    It seems this fiat based coin loses value as the Canadian dollar loses value. The same cannot be said for silver bullion. Think twice before buying.

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