A stampede for new collector coins being sold at face value may
have left some collectors feeling trampled.
The Royal Canadian Mint on May 16 began selling the first coin in
a new Wildlife in Motion series, through its www.mint.ca website. The
Reverse Proof Bison Stampede silver $100 coin quickly sold out some
time during May 17.
The coin was offered at face value plus shipping, and tax where applicable.
After limiting purchases to three per household during the initial
sales period (before the sellout), the RCM reduced the limit to one
per household and required orders to be placed by telephone. Customers
calling by telephone joined a waiting list for any orders that are canceled.
The $100 series joins the popular 20-for-20 offering of small
silver Specimen Finish $20 coins at face value. All nine coins in that
program, which began in 2011, sold out a mintage limit of 250,000
pieces per issue.
While the $100 coins have a face value five times the value of
coins in the 20-for-20 series, the larger coins’ mintage is one-fifth
as large, 50,000 pieces.
The .9999 fine silver $100 coin weighs 31.6 grams or slightly more
than an ounce; for comparison, the .9999 fine silver $20 face value
coins weigh 7.96 grams, or slightly more than a quarter-ounce.
Several collectors have used the review function at the RCM’s
website to complain about the quick sellout of the $100 coin and the
change in the ordering limit.
A representative of the RCM had not answered questions about the
sales procedure, timing and sellout by press time.
It is customary for RCM Masters Club members (those who order a
minimum of $1,000 worth of coins in a calendar year) to receive
advance notice and ordering privileges for new offerings.
Several examples of the $100 coin are listed for resale through
online auction venue eBay and the Canadian version, eBay.ca, but no
confirmed sales have been recorded.
Sales literature provided by the RCM indicate the Bison Stampede
coin is the first in a series of 100-for-100 coins, but future designs
have not been confirmed. ■