As usual, the Royal Canadian Mint has another extendsive selection of new coins this month including additions to ongoing series, some quirky new issues, and the obligatory maple Leaf themed releases. The unobtrusive coin we’re looking at here would normally have drifted under the radar as just another release, and to be honest, we’re not quite sure why that isn’t the case.
Possibly the most famous UFO sighting in Canadian history, the Falcon Lake sighting in 1967 is doubly interesting for a commemorative coin because the man who witnessed the event was an amateur precious metal hunter. To mark the event, the RCM has taken its hugely popular ‘Pysanka’ shaped coin blank and combined it with its equally popular glow-in-the-dark technique to produce this one-ounce silver coin. Depicting Stefan Michalak looking up at the spaceship he described, the image changes to an eerie view when the lights go out or the included blacklight flash is passed over it. Pass your mouse over the image below to see the effect.
The obverse is the same straightforward effigy of Queen Elizabeth II by Sussana Blunt that the RCM uses on almost all its output. There’s a fine etched maple leaf outline pattern in the background, but other than that it’s a standard affair. Likewise, the packaging is the usual maroon snapper box in a coloured shipper box and with a serialised certificate of authenticity.
What’s baffling is the rampant appreciation that this coin is currently experiencing. Launched just seven days ago for $129.95 CAD, the price on the aftermarket has risen exponentially since. Just a week later, we’re seeing prices well in excess of $700, with asking prices on auction sites approaching $1,000 CAD. The 4,000 mintage has already completely sold out at the mint, but determining if this is a short-term feeding frenzy or a long-term investment is clearly a difficult determination to make. We suspect that prices on this will come crashing back down, but that’s a call we could be straight up wrong about as it’s incredibly difficult to predict market foibles. Buyer beware.