Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
Post Reply
Topic Author
JohnFiscal
Posts: 689
Joined: Mon Jan 06, 2014 4:28 pm
Location: Florida

Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by JohnFiscal » Sun Jul 14, 2019 9:39 pm

My wife retains her Canadian citizenship (and has had US citizenship for a long time) and I would like to get her a gold Maple Leaf coin (likely 1 oz) produced by the Canadian Mint (the government mint).

I don't care about preserving its value as "untouched by human hands", or a special commemorative coin, etc, or even for its resale value as gold.

I just want her to have the Maple Leaf to look at and hold and have fun with it.

Anyone have any experience with handling gold coins? Will it really get "wrecked"? Of course, the US had gold coins in regular circulation back in the Huck Finn days as I recall. Should I even be concerned with any "weathering"? I guess those gold bars they find in old shipwrecks are still pretty shiny!

Thanks for comments

Edit: just asked for this to be moved to the "consumer" forum

Blue456
Posts: 46
Joined: Tue Jun 04, 2019 5:46 am

Re: Gold Coin for fun, not for investment or numismatics

Post by Blue456 » Sun Jul 14, 2019 9:42 pm

The Canadian Maple is 99.999 gold so it is fragile. Otherwise I dont have personal experience with it.

bhsince87
Posts: 2433
Joined: Thu Oct 03, 2013 1:08 pm

Re: Gold Coin for fun, not for investment or numismatics

Post by bhsince87 » Sun Jul 14, 2019 9:46 pm

I've posted this before, but I LOVE handling gold coins! And I think everyone who can afford it should buy some, just so you can understand the magic they hold.

It's strange. They seem to have the power to cheer me up!!

I have some old Maple Leafs and Krugerrands that I play with. Five of them.

Yes, they might get dented and scratched.

But their value is in their weight. So if you don't gouge them, a few dings and dents will not cause a loss of value.

Buy her three of them if you can.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

User avatar
KlingKlang
Posts: 814
Joined: Wed Oct 16, 2013 3:26 pm

Re: Gold Coin for fun, not for investment or numismatics

Post by KlingKlang » Sun Jul 14, 2019 9:54 pm

Pure gold is completely corrosion resistant, so your Maple Leaf will not weather or tarnish. It can get dirty but you can clean it with anything.

As Blue456 points out, pure gold is very soft (for a metal) so it can be easily scratched, dented, or bent. Gold coins meant for circulation usually have about 10% of other metals alloyed in to harden them.

You can buy accessories for gold coins such as a holder that turns it into a necklace pendent. Purchased one for my daughter with her birth year 1/4 oz American Eagle. A 1 oz coin might be a little heavy but a 1/4 or 1/2 oz would work well.
Last edited by KlingKlang on Sun Jul 14, 2019 9:58 pm, edited 1 time in total.

User avatar
LadyGeek
Site Admin
Posts: 55713
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by LadyGeek » Sun Jul 14, 2019 9:56 pm

JohnFiscal wrote:
Sun Jul 14, 2019 9:39 pm
Edit: just asked for this to be moved to the "consumer" forum
You got it. This thread is now in the Personal Consumer Issues forum (coins).

I also retitled the thread to specify what you're looking for. You can change the thread title further by editing the Subject: line in Post #1.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

User avatar
onthecusp
Posts: 664
Joined: Mon Aug 29, 2016 3:25 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by onthecusp » Sun Jul 14, 2019 10:01 pm

DW has a UK Sovereign mounted in a ring as a necklace. It is a little smaller so not suggesting this for the Maple Leaf. Anyway it looks good after many years. It is 22k so harder and less pure.

Yellowhouse
Posts: 69
Joined: Tue Sep 25, 2018 8:45 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by Yellowhouse » Sun Jul 14, 2019 10:16 pm

I accidentally dried 10 one ounce Maple Leafs in my dryer two years ago. We had gone to Florida for the winter and I hid 10 Maple Leafs in the dryer. Upon arriving home after two months, I completely forgot they were in there when doing the first load of laundry.

I had them in a coin tube but the tumbling of the dryer opened the tube and they went for a ride. By the time I got to the dryer after hearing odd noises, the coins were battered. I sold them about a week later and took a fairly decent hit on them!! Maple Leafs are VERY fragile! Buy an American Gold Eagle instead.

LFS1234
Posts: 102
Joined: Fri Feb 08, 2019 4:13 am

Re: Gold Coin for fun, not for investment or numismatics

Post by LFS1234 » Sun Jul 14, 2019 10:25 pm

bhsince87 wrote:
Sun Jul 14, 2019 9:46 pm
I've posted this before, but I LOVE handling gold coins! And I think everyone who can afford it should buy some, just so you can understand the magic they hold.
Gold coins do hold a certain magic. Perhaps it is their ability to retain their original luster forever. A 100+ year old gold coin will look exactly the same as it looked to the person who held it five generations ago. In a world where every other man-made object sooner or later will deteriorate and fail, this is a special quality.

Gold is inert to the human touch as well as to almost everything else. Gold coins don't change hands frequently, so wear isn't generally an issue. They generally stay in very good shape.

It's a nice idea for a gift. No need to keep it "untouched by human hands", you can't damage it*.

*Edit: you can't damage it through normal careful handling (don't tumble it in your clothesdryer)

User avatar
LadyGeek
Site Admin
Posts: 55713
Joined: Sat Dec 20, 2008 5:34 pm
Location: Philadelphia
Contact:

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by LadyGeek » Sun Jul 14, 2019 10:31 pm

If you are worried about the fragility of the gold coin, how about silver?

Or, get her a small gold coin and several silver ones? There are a number of possibilities, see: Maple Leaf Coin | The Royal Canadian Mint

She'll appreciate that you got it directly from the Royal Canadian Mint. (According to the FAQ, they will charge US state sales tax.)
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.

Minty
Posts: 244
Joined: Sun Mar 24, 2013 3:19 pm
Location: NorCal

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by Minty » Sun Jul 14, 2019 10:47 pm

A Maple Leaf or other coin will lose its original finish and otherwise wear if handled. Capsules are available for a buck or so each or less that will leave the coin visible, but prevent wear.
Core Four with nominal bonds and TIPS.

HawkeyePierce
Posts: 507
Joined: Tue Mar 05, 2019 10:29 pm
Location: Colorado

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by HawkeyePierce » Sun Jul 14, 2019 10:56 pm

If it's just to look at does it really need to be an ounce? Seems expensive for what it sounds like will amount to a Canadian desk ornament.

Why not a 1/10th or 1/20th oz Maple Leaf instead?

FlyingMoose
Posts: 414
Joined: Wed Mar 04, 2009 10:48 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by FlyingMoose » Sun Jul 14, 2019 11:22 pm

There is a new incuse design for this year. This means that the images (the queen and the maple leaf) are recessed instead of sticking out, which will protect them better, and it looks really cool.

But the fine radial lines which are a security feature will still be easily damaged.

bhsince87
Posts: 2433
Joined: Thu Oct 03, 2013 1:08 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by bhsince87 » Sun Jul 14, 2019 11:37 pm

If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

Pu239
Posts: 113
Joined: Mon Dec 17, 2018 6:24 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by Pu239 » Mon Jul 15, 2019 12:17 am

JohnFiscal wrote:
Sun Jul 14, 2019 9:39 pm
My wife retains her Canadian citizenship (and has had US citizenship for a long time) and I would like to get her a gold Maple Leaf coin (likely 1 oz) produced by the Canadian Mint (the government mint).

I don't care about preserving its value as "untouched by human hands", or a special commemorative coin, etc, or even for its resale value as gold.

I just want her to have the Maple Leaf to look at and hold and have fun with it.

Anyone have any experience with handling gold coins? Will it really get "wrecked"? Of course, the US had gold coins in regular circulation back in the Huck Finn days as I recall. Should I even be concerned with any "weathering"? I guess those gold bars they find in old shipwrecks are still pretty shiny!

Thanks for comments

Edit: just asked for this to be moved to the "consumer" forum
If buying a loose bullion coin from a dealer, they normally put them in a coin 'flip", usually a small mylar envelope that allows the coin to be protected but also removed and handled. As has been pointed out, pure gold is soft and subject to abrasion and wear. Is gold a must or are you open to alternatives? Platinum is currently almost $600 less per ounce than gold but historically costs more than gold. The platinum 1 oz. Maple is essentially the same design as the Maple gold coin. Few countries produce much platinum (Canada is No. 4 in world production). If the golden color of a rare metal isn't worth $600 extra, the contrarian buy is worth consideration. If symbolism is the main thing, it's hard to beat the cost of a 1 oz. Silver Maple.

suemarkp
Posts: 169
Joined: Sun Nov 12, 2017 8:18 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by suemarkp » Mon Jul 15, 2019 3:17 pm

Where are you going to buy this coin? I wouldn't buy from directly from the mint. I believe JM Bullion had a recent sale on maple leaf gold coins and the "condition" listed was "varied". You'll get these cheaper, as they are selling ones that have been dropped, scratched or otherwise damaged so they can't tell them as pristine brilliant uncirculated coins. I'd recommend looking for those "varied condition", "scuffed" or otherwise less than new if you don't care about maintaining the coin condition.

They still have that category and they are still priced lower than the BU coins: https://www.jmbullion.com/1-oz-canadian ... -any-year/
Here is another site: https://www.bgasc.com/product/canadian- ... gold-coins

I dropped a maple leaf once onto a tile floor and it is now one sixth of the way to being a hexagon. Pure gold is easily bent or swaged.
Mark | Kent, WA

gougou
Posts: 175
Joined: Thu Sep 28, 2017 7:42 pm
Location: San Francisco Bay Area

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by gougou » Mon Jul 15, 2019 3:52 pm

If you decide to buy from one of the online dealers such as APMEX, you should buy the 2019 version that's straight from mint. Gold maples are fragile and easily scratched, so even those BU (brilliant uncirculated) gold maples might not look that good.

You should avoid silver maples as they can get milky spots very easily.

Pride of two nations with reverse proof finish (something to consider):
https://catalog.usmint.gov/pride-of-two ... -19XB.html

I handle lots of bullion coins every week so AMA.

gougou
Posts: 175
Joined: Thu Sep 28, 2017 7:42 pm
Location: San Francisco Bay Area

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by gougou » Mon Jul 15, 2019 3:54 pm

bhsince87 wrote:
Sun Jul 14, 2019 11:37 pm
If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value.
Not true, if you have a 1 oz gold coin in reasonable condition you can usually sell it for spot price. If you have a piece of twisted gold metal then you are selling it as scrap gold which is 3% to 4% lower than spot, and you'll have a hard time finding a buyer.

bhsince87
Posts: 2433
Joined: Thu Oct 03, 2013 1:08 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by bhsince87 » Mon Jul 15, 2019 8:04 pm

gougou wrote:
Mon Jul 15, 2019 3:54 pm
bhsince87 wrote:
Sun Jul 14, 2019 11:37 pm
If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value.
Not true, if you have a 1 oz gold coin in reasonable condition you can usually sell it for spot price. If you have a piece of twisted gold metal then you are selling it as scrap gold which is 3% to 4% lower than spot, and you'll have a hard time finding a buyer.
I'm assuming his daughter won't be sticking the coin in a vice and twisting with pliers, or beating it with a hammer, or melting it with a torch.

I assume a certain level of common sense with posters here. But maybe I'm wrong about that.
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

Rwsawbones
Posts: 100
Joined: Fri Jan 20, 2017 11:21 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by Rwsawbones » Mon Jul 15, 2019 8:24 pm

You can use an American Gold Eagle for jewelry and a Canadian Gold Maple Leaf to admire.

gougou
Posts: 175
Joined: Thu Sep 28, 2017 7:42 pm
Location: San Francisco Bay Area

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by gougou » Mon Jul 15, 2019 8:53 pm

bhsince87 wrote:
Mon Jul 15, 2019 8:04 pm
gougou wrote:
Mon Jul 15, 2019 3:54 pm
bhsince87 wrote:
Sun Jul 14, 2019 11:37 pm
If you are buying non-numismatic gold coins, which you seem to be interested in doing, you should have no worries about your daughter damaging the coins to an extent that will reduce their value.
Not true, if you have a 1 oz gold coin in reasonable condition you can usually sell it for spot price. If you have a piece of twisted gold metal then you are selling it as scrap gold which is 3% to 4% lower than spot, and you'll have a hard time finding a buyer.
I'm assuming his daughter won't be sticking the coin in a vice and twisting with pliers, or beating it with a hammer, or melting it with a torch.

I assume a certain level of common sense with posters here. But maybe I'm wrong about that.
If you drop that 1 oz gold maple on concrete floor it won't be marketable as a gold coin anymore.

informal guide
Posts: 265
Joined: Mon Aug 29, 2016 10:26 am

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by informal guide » Mon Jul 15, 2019 9:00 pm

gougou wrote:
Mon Jul 15, 2019 3:52 pm
If you decide to buy from one of the online dealers such as APMEX, you should buy the 2019 version that's straight from mint. Gold maples are fragile and easily scratched, so even those BU (brilliant uncirculated) gold maples might not look that good.

You should avoid silver maples as they can get milky spots very easily.

Pride of two nations with reverse proof finish (something to consider):
https://catalog.usmint.gov/pride-of-two ... -19XB.html

I handle lots of bullion coins every week so AMA.
I just received my "pride of two nations" today - -they are stunning. Each is 1 once silver and in a clear hard plastic capsule, with very nice overall packaging. I absolutely love the "walking Liberty" on the obverse of the US coin. The Maple leaf is classic, with a beautiful finish. On the other side is the Queen, much older but still dignified, compared to her image on the Canadian coins in circulation I remember in the 50's and early 60's.

gougou
Posts: 175
Joined: Thu Sep 28, 2017 7:42 pm
Location: San Francisco Bay Area

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by gougou » Mon Jul 15, 2019 9:05 pm

informal guide wrote:
Mon Jul 15, 2019 9:00 pm
gougou wrote:
Mon Jul 15, 2019 3:52 pm
If you decide to buy from one of the online dealers such as APMEX, you should buy the 2019 version that's straight from mint. Gold maples are fragile and easily scratched, so even those BU (brilliant uncirculated) gold maples might not look that good.

You should avoid silver maples as they can get milky spots very easily.

Pride of two nations with reverse proof finish (something to consider):
https://catalog.usmint.gov/pride-of-two ... -19XB.html

I handle lots of bullion coins every week so AMA.
I just received my "pride of two nations" today - -they are stunning. Each is 1 once silver and in a clear hard plastic capsule, with very nice overall packaging. I absolutely love the "walking Liberty" on the obverse of the US coin. The Maple leaf is classic, with a beautiful finish. On the other side is the Queen, much older but still dignified, compared to her image on the Canadian coins in circulation I remember in the 50's and early 60's.
I got 5 sets. These are limited editions that can appreciate over time. I plan to keep them until I'm an old man :happy

User avatar
celia
Posts: 9504
Joined: Sun Mar 09, 2008 6:32 am
Location: SoCal

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by celia » Mon Jul 15, 2019 9:10 pm

You may not care if it gets dents or looks worn, but your wife might care. Get a mint coin in a protective wrap.
A dollar in Roth is worth more than a dollar in a taxable account. A dollar in taxable is worth more than a dollar in a tax-deferred account.

DiamondplateDave
Posts: 83
Joined: Sat Jun 06, 2015 10:23 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by DiamondplateDave » Wed Jul 17, 2019 2:48 pm

What you want is called a "fondle piece". I always wanted a St. Gauden's $20 gold coin when I was younger. Finally bought one a couple years ago.
It cost me $1155 IIRC. Its melt* value is $1378.20, so at least for right now I'm in the green. The one I got is an "ex jewelry" coin, it has marks on it from being attached to something in the past. I keep it by my keyboard and "fondle" it when I get the urge. It has no value to a numismatist, and isn't the first choice of somebody accumulating gold coins as an investment/hedge, but I could no doubt sell it for about what I paid for it, and I don't have to cry if it slips out of my hand and hits the floor.
As an aside, most gold coins for circulation are 90% gold, which makes them more durable. I think the ML is.....9999? Anyhow, find a good price on one with a ding, dent or scratch, and have at it! Oh, the St. Gauden's I bought is dated 1927, the year of my mother's birth. Maybe you could find a ML with a date that's significant to you both?
*http://www.coinflation.com/gold_coin_values.html

bberris
Posts: 1238
Joined: Sun Feb 20, 2011 9:44 am

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by bberris » Thu Jul 18, 2019 8:37 am

Where's the fun?

Grt2bOutdoors
Posts: 20955
Joined: Thu Apr 05, 2007 8:20 pm
Location: New York

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by Grt2bOutdoors » Thu Jul 18, 2019 8:47 am

bberris wrote:
Thu Jul 18, 2019 8:37 am
Where's the fun?
ScroogeMcDuck would think it's fun to hold gold coins in the hand.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

azanon
Posts: 2534
Joined: Mon Nov 07, 2011 10:34 am
Contact:

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by azanon » Thu Jul 18, 2019 9:30 am

bberris wrote:
Thu Jul 18, 2019 8:37 am
Where's the fun?
My dad let me hold one (one oz gold coin) when I was a kid - haven't held one since. I remember being wow'ed by the experience - the weight and the look. I'd hate to lock up some $1500 today to get one myself now (and not be in a "liquid" form), but I could understand someone that did.

ByThePond
Posts: 149
Joined: Thu Dec 31, 2015 11:21 am

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by ByThePond » Thu Jul 18, 2019 12:03 pm

bberris wrote:
Thu Jul 18, 2019 8:37 am
Where's the fun?
Psychology

Time was, back in my student days, at the end of the day I sometimes didn't have the 15 cents needed for the toll booth on my home trip, and had to take wearysome side roads. I lacked a dime and a nickel in that day's budget. Today I usually carry a $100 platinum coin (American eagle) and a $50 gold coin (St Gauden's) . Each is one ounce of its metal, but have those nominal values. The idea is that I went from lacking two coins equaling 15 cents to having two coins equaling 150 dollars in my pocket. It represents how far I've come. I find that amazing, comforting, and humbling.

Of course we now have E-Z Pass and credit cards, but somehow they just don't feel the same.

DiamondplateDave
Posts: 83
Joined: Sat Jun 06, 2015 10:23 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by DiamondplateDave » Tue Jul 23, 2019 7:48 am

OP:
Provident metals has "Cull" (cosmetically poor grade) Maple Leafs on sale this week for a $4.99 premium.
If you're comfortable with the spot price of gold (currently up), this might be what you want.
https://www.providentmetals.com/cull-1- ... -leaf.html

JoeRetire
Posts: 2794
Joined: Tue Jan 16, 2018 2:44 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by JoeRetire » Tue Jul 23, 2019 7:59 am

JohnFiscal wrote:
Sun Jul 14, 2019 9:39 pm
I don't care about preserving its value as "untouched by human hands", or a special commemorative coin, etc, or even for its resale value as gold.

I just want her to have the Maple Leaf to look at and hold and have fun with it.

Anyone have any experience with handling gold coins? Will it really get "wrecked"? Of course, the US had gold coins in regular circulation back in the Huck Finn days as I recall. Should I even be concerned with any "weathering"?
The coin will not get wrecked with careful handling. It will continue to look pretty and shiny. She can hold it and have fun with it as long as she likes.

Of course the value will go down, but you don't care about that.

Look around for a coin that has already been "touched by human hands" rather than purchasing directly from the mint. You should be able to get a better price that way.

bhsince87
Posts: 2433
Joined: Thu Oct 03, 2013 1:08 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by bhsince87 » Tue Jul 23, 2019 9:34 pm

DiamondplateDave wrote:
Tue Jul 23, 2019 7:48 am
OP:
Provident metals has "Cull" (cosmetically poor grade) Maple Leafs on sale this week for a $4.99 premium.
If you're comfortable with the spot price of gold (currently up), this might be what you want.
https://www.providentmetals.com/cull-1- ... -leaf.html
Awesome! Thanks for sharing. I think I'm going to pick up 2 or 3 more during this sale. I love playing with my gold coins.

That's a great deal!
"If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace." Samuel Adams

SueG5123
Posts: 143
Joined: Fri Jan 01, 2016 8:41 pm

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

Post by SueG5123 » Wed Jul 24, 2019 7:35 am

In 1987, I bought a set of Canadian Maple Leaf coins — I believe the one ounce, the half ounce, and the quarter ounce — thru Dean Witter. (There’s a blast from the past, eh?) The coins stayed in a safe deposit box throughout the rest of my military career. Then, one day I realized I’d really rather turn that money into something more practical than ballast for the bank, so I sold the little rascals and turned my profit into a nice river cruise in France.

Not sure what the moral of this story is. I bought the coins because that seemed to be fashionable at the time. The fact that I never bought more suggests I knew even then that it wasn’t a great investment. Glad I never bought more and I suspect my safe deposit box fees over the years killed a lot of the “profit” at selling time.

Why not buy her a nice Canadian vacation instead?

Post Reply