The Royal Canadian Mint has launched a new “$50 for $50” silver coin series, which offers 99.99% pure silver coins priced at the face value of $50. The new series follows the same concept as the ongoing “$20 for $20” and “$100 for $100” silver coin series.
The 2014 Polar Bear $50 for $50 Silver Coin features an original design by Emily Damstra depicting a polar bear within an arctic landscape. The inscription reads “Canada” ,”50 Dollars”, and the date “2014”. The obverse carries the Susanna Blunt portrait of Queen Elizabeth II.
Each coin is struck in 99.99% pure silver with a matte proof finish. The weight is 15.87 grams, which works out to 0.510 troy ounces. The diameter of each coin is 34 mm. A maximum mintage of 100,000 pieces is indicated with an ordering limit of 3 per household.
The coins are available for sale priced at their face value of $50 CAD. The product page can be found here.
Comparisons to Other Programs
The Royal Canadian Mint began their “$20 for $20” silver program with a 2012-dated coin featuring a depiction of five maple leaves flowing upwards to form a “C”. These coins had a weight of 7.96 grams (0.256 troy ounces) and diameter of 27 mm. The maximum mintage for the initial releases was 250,000, although recent releases have carried a maximum of 225,000 pieces.
The initial $20 for $20 silver coins were always quick sell outs, with some of the earliest issues going on to sell for premiums on the secondary market. Collectors responded favorably to the low price point for a 99.99% silver coin and the equal face value. From the Royal Canadian Mint’s perspective, the program had been responsible for adding approximately 67,000 new customers, many of whom went on to become repeat customers for other products.
The popularity of the program seems to have waned from earlier levels, as this year’s two releases have not yet sold out and remain available for sale.
In May 2013, the Royal Canadian Mint launched their “$100 for $100” silver program with a 2013-dated coin depicting a herd of bison in motion. The coins of the program have a weight of 31.6 grams (1.016 troy ounces) and diameter of 40 mm. The maximum mintages have been set at 50,000 coins.
So far three coins have been offered under the program, with each one achieving a sell out. The dynamic designs and popular subject matter such as bison and the bald eagle have kept the series in demand with collectors.