Buying from RCM?

[lgn15]

Hey,

New stacker here looking for my first purchase. Is it worth it buying a silver maple online from the RCM? I'm in Canada so this seems like the most obvious way to purchase silver, but a 1oz 2018 maple is 35 bucks, 75%+ over spot. Is that premium worth it? Free shipping though...

- LGN

[rob6]

I'm no expert, but seems over the top to me, unless I'm missing something?

[lgn15]

This is the coin:
https://www.mint.ca/store/acquisitioncoins/silver-coin/the-maple-leaf-coin-2018-prod3134937

Actually, it's only 1/2 oz.

[PansPurse]

I'd be very reluctant to buy a basic bullion coin at that kind of premium. Although it says "specimien" but doesn't seem to give a mintage number... I'd be pretty wary. Better off getting generic bullion than paying that much over spot for a coin of dubious numismatic value

[Bimetallic]

It's vastly overpriced. The only feature that distinguishes it appears to be the presentation folder that comes with it.

I just checked, and I can't find any normal bullion on the RCM store website. I don't think they sell normal bullion, like the standard 1 oz Maple Leaf, sans presentation case or other ripoff features. They're selling a quarter ounce Caribou for $19.95 CAD. The premiums are just unbelievable.

Some (all?) government mints don't sell their normal bullion products directly to the public. They just sell special editions, proofs, numismatic type stuff, colored coins, coins in a presentation folder or box, etc. It's the same with the US Mint. To get silver Maple Leaves or American Eagles, you have to buy from a dealer. In my upcoming price comparison article, I'll have links to the lowest priced Maple Leaves in North America.

[PansPurse]

1 hour ago, Bimetallic said:

It's vastly overpriced. The only feature that distinguishes it appears to be the presentation folder that comes with it.

I just checked, and I can't find any normal bullion on the RCM store website. I don't think they sell normal bullion, like the standard 1 oz Maple Leaf, sans presentation case or other ripoff features. They're selling a quarter ounce Caribou for $19.95 CAD. The premiums are just unbelievable.

Some (all?) government mints don't sell their normal bullion products directly to the public. They just sell special editions, proofs, numismatic type stuff, colored coins, coins in a presentation folder or box, etc. It's the same with the US Mint. To get silver Maple Leaves or American Eagles, you have to buy from a dealer. In my upcoming price comparison article, I'll have links to the lowest priced Maple Leaves in North America.

Royal Mint sells basic bullion. But they do have it on a different site to the proofs etc

[AgD]

I believe silvergoldbull.com is located in Canada so might be worth your while having a look there 

[vand]

for some weird reason Bullion is always more expensive direct from the Mint. Just buy through one of the well respected online bullion dealers and you should get a fair price.