20 Dollars - Elizabeth II Canoe

Part of the RCM's long-running fine silver $20 series that launched in 2011, this issue sold exclusively through the Mint's direct retail channel at face-adjacent pricing — a strategy that built a devoted collector base but also flooded the secondary market within years, compressing premiums sharply. The series consistently sold out on issue day, then sat at or below issue price at auction within eighteen months.