NCLT Coins Are Not Legal Tender, Including The $20 For $20

The RCMP extract I posted is only in reference to transactions, as that is what is most commonly encountered. A retail-customer point of sale transaction.

They are correct that retailers may specify what they are paid in, and customers do indeed have the option of turning down certain types of change. I myself have refused to take a $5 bill offered to me in change. It was a very ratty, journey series without the hologram strip, the golden leaves looked wrong. They gave me a different $5 note as change instead.

As mentioned before, no business in this country is obligated to take ANY currency should they chose not to. You see businesses refuse $100 bills all the time. It's their prerogative. That includes the banks should they chose not to (and many do from non clients because it actually costs them money to ship the coins back to the mint). I for one no longer pay out face for most FV series coins. From a business perspective, there just isn't any margin in it.

Many people read about the $x for $x coins (such as this thread, especially the title of the topic) and assume they can't be taken to the bank. I've heard of dealers buying them at 80% of face value, then taking them to the bank themselves.

@NeoSpec, although many have successfully returned them to the bank for FV, others have had trouble. It depends I think on the particular bank and your relationship with them. If you are having trouble cashing them in you might well sell them for less than FV if you really need the money.

One of my LCS as a courtesy will take small amounts of them-that is where I got rid of my 20 for 20 when I gave up on the series.

I have seen on craigslist in metro Vancouver someone trying to sell them for 80% FV, and he had a few hundred, so someone could have made a few bucks

Why anyone buys any RM NCLT coins with massive premiums is beyond logic they are all just tokens or medals with the Queen's image a small step better than a Franklin mint product and their logic is misleading saying on one hand they are legal tender but they are not.

Gotta love the double-speak there. "This is legal tender that you can't take to your bank."

I love my 2nd home, Canada, and I love my Canadian NCLT (but I'm also quite frank that the quality, by my standards, does not match the price with many of the coins in my collection). Yes, it's disappointing.

I've been looking more closely at the US Mint and Perth Mint... a month or two back I picked-up the Perth Year of the Monkey 1 oz. silver and it's not the sharpest coin in my collection, but it gives every single RCM coin I have a run for it's money, especially when you consider price... 1 oz. BU @ 41.00 that's cleaner than many RCM numbered releases (i.e. their baby: specimen) at 2x the price.

Hopefully someone from the mint is still keeping tabs here... It seems they're affecting their customers, whether new or long-standing, in generally negative ways with a variety of their practices, i.e. sales tactics, pricing, confusion, questionable quality control (honestly, I think they fired QA/QC because they figure it's cheaper to process the returns than it is to pay somebody to prevent them).