Canadian 2011 $20 Silver Canoe Commemorative Coin at Face Value

The Royal Canadian Mint (RCM) continues its highly successful program of offering a $20 coin at face value with the release of the $20 Silver Canoe Commemorative Coin. If the previous strike of the series is any indicator, collectors will have to move fast to order before it sells out.

This series debuted earlier this year when the Royal Canadian Mint originally offered the $20 Pure Silver Maple Leaf Commemorative Coin. Despite being initially sold only to Canadians, the RCM recorded a sell-out of the entire mintage of 200,000 Maple Leafs in just twenty-nine days. That feat is more impressive when considering that a customer order limit of three was in place.

The newest issue of the series is likely to repeat that feat even though the Mint has increased the maximum mintage for the $20 Silver Canoe Commemorative Coin to 250,000. These strikes could potentially sell-out quicker since the Mint has opened up purchases to citizens of countries other than Canada.

Each commemorative coin is struck to specimen quality from 99.99% pure silver to a diameter of 27mm. The coins have a total weight of 7.96 grams.

Those specifications mean each Canoe Coin is composed of approximately one quarter ounce of pure silver. This gives each strike an intrinsic melt value approximately equal to that amount of silver on the open market. If silver is trading at $30 an ounce (close to its location for the last several days), a coin would have a melt value of about $7.50.

Of course, the coins also have a legal tender face value of CAD $20. That face value is guaranteed by the government of Canada for use in everyday commerce in the country (if someone wished to do so).

Inspired by the design of an early silver dollar of 1935, shown on the reverse of the $20 Silver Canoe Commemorative Coin is a simple design featuring the iconic Canadian image of a canoe and its modern-day rider. The young male canoeist is shown reaching his hand into the lake, breaking its mirror-like surface. A reflective image of the scene is also shown in the lake, albeit a historic representation of a similar scene. The reflection shows a traditional birch-bark canoe with an early native paddler (voyageur) on board.

The reverse design was completed by Jason Bouwman. It includes the inscriptions of "CANADA," "20 DOLLARS," "FINE SILVER," "9999 — 9999," "ARGENT PUR," and the date "2011." The designer’s initials of "JB" are also shown.

On the obverse of the coin we find Susanna Blunt’s effigy of Queen Elizabeth II of England. Obverse inscriptions include "ELIZABETH II" and "DG REGINA".

While available, these coins may be purchased directly from the Royal Canadian Mint (www.mint.ca) for $20, plus shipping and handling. A limit of three per household is in effect.

About the Royal Canadian Mint

The Royal Canadian Mint is the Crown Corporation responsible for the minting and distribution of Canada’s circulation coins. An ISO 9001-2008 certified company, the Mint is recognized as one of the largest and most versatile mints in the world, offering a wide range of specialized, high quality coinage products and related services on an international scale.