1949 Canada silver dollar...why so cheap?

General discussions about canadian coins.
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Hot Brass
Posts: 88
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

1949 Canada silver dollar...why so cheap?

Post by Hot Brass » Tue May 21, 2013 6:51 am

I have noticed that the 1949 Canada silver dollar is only worth $34.00 in the lowest
MS-60 grade.....why so cheap?? Thanks Hot Brass

verdigris
Posts: 227
Joined: Wed Jan 09, 2013 11:51 am

Re: 1949 Canada silver dollar...why so cheap?

Post by verdigris » Fri May 24, 2013 12:47 am

672,218 minted.

Highest since '39 and not beaten until 1953, then finally for good in '58 and beyond.


Cheers

Hot Brass
Posts: 88
Joined: Wed Mar 06, 2013 8:59 am
Location: Ontario,Canada

Re: 1949 Canada silver dollar...why so cheap?

Post by Hot Brass » Sat May 25, 2013 5:10 am

verdigris wrote:672,218 minted.

Highest since '39 and not beaten until 1953, then finally for good in '58 and beyond.


Cheers

Hi: Not sure I follow.....this mintage number (672,218) is fairly low compared to some.(I get why a 1948 is worth so much,being that only 18,780 were minted),but the 1965 minted 10,768,569 (16x more) and it's worth $34 in MS-60?,so it can't be the high mintage number of the '49,or can it??... Thanks,Hot Brass

verdigris
Posts: 227
Joined: Wed Jan 09, 2013 11:51 am

Re: 1949 Canada silver dollar...why so cheap?

Post by verdigris » Sat May 25, 2013 11:06 am

I think you have to consider that the 1949 $1 was a commemorative and was hoarded by Canadians. This would give a disproportionate number of them in AU to MS-60 grade over those that stayed in circulation.

I.E. In February a teller at a local RBC branch told me an older woman had brought in 20 silver dollars with ships on them a week earlier (all in "very nice shape") and had traded them for fiat at face value claiming "they weren't worth anything". They were gone by this time... such is the story of my life.


Cheers

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