Canada has fired another shot in the ongoing battle for bullion supremacy.

The Royal Canadian Mint has launched its first 10-ounce .9999 fine silver bullion coin, kicking off the Canada the Great series with a design celebrating the famous natural wonder Niagara Falls, which borders the United States. 

The Brilliant Uncirculated $50 coin features frosted relief with radial lines and has a mintage limit of 15,000 pieces. 

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The obverse of the coin feat­ures the Arnold Machin effigy of Elizabeth II, which was used for Canadian coins from 1965 to 1989, and not the current portrait by Susanna Blunt.

On the reverse, a romantic couple stands on the observatory deck at Horseshoe Falls.

Niagara Falls is a National Canadian Site known worldwide, straddling the Canada-United States International Boundary both in the province of Ontario and the state of New York. These waterfalls attract around 12 million tourists each year.

Private partner

The program is being jointly conducted between the Royal Canadian Mint and the private firm Bullion Exchanges, which at press time was offering the 10-ounce coin in two options, either individually or in a pack of 25 coins.

All coins are encapsulated individually and sealed. The 25-count packs come in sheets of five rows of five coins.

Prices reported here are the lowest price the firm listed for each option, based on immediate cash payment; various fees applied depending on payment method.

The 25-coin pack retails for $5,327.50, which is $213.10 per coin. With silver trading at $18.56 per ounce, the coins carry a premium of 14.8 percent when purchased 25 at a time.

Individual coins were priced as low as $220.60, for cash payment, about 18.9 percent above “spot” or precious metal price. 

For full information, visit the distributor website, www.bullionexchanges.com.