Royal Canadian Mint Assures Collectors Banks Will Take NCLT

Cool, Normic67, I am just across the river in Mission

Counterfeit or not has nothing to do with it. The bank decides IF it takes coins, and which ones. NO coins are required to be taken by the bank, and I have even heard of the bank declining coin to pay off debts, which should technically be illegal, or result in the debt being wiped.

The thing to remember, is that in North America, corporations rule the land.

Man, I just picked up a $20 for $20 wolf on ebay. This thread has me wondering if it is a good idea to collect these coins. Are they kind of a joke in Canada? I kind of figured with the falling silver price maybe getting something with high face value is as good as something with more silver content.

I was going to pick up the 2014 goose next, but not if it's really worth $5 or something.

I certainly can't find them under about $20 US + shipping and many are closer to $30. Some of the replies in this and other $20 NCLT threads seem to be pretty cynical about future value, is all.

Anjohl, at no time did I mention legal tender (that's a whole other discussion), but you seem to have missed the point of my post.

It was to refute the notion that a) one could pay a large debt, which would be typical with a bank, with coins or that it would be 'illegal' for the bank to refuse coins if they didn't meet the qualifications in the Currency Act and b) that the debt would be "wiped" if a creditor refused such a payment.

The Currency Act is very clear and is law in Canada. It's been upheld many times. On the other hand, and to the best of my knowledge, the courts have never sided with a creditor who refuses legal payment of a debt including in the form of coins as detailed in the Act.

This applies whenever there is a creditor/debtor relationship.

Not that it adds anything to the discussion but banks in Canada are chartered under the Bank Act. They are certainly not 'like any other private business'.

Today at the Nuphilex Coin event, a guy next to me bought the wolf $20 coin for $23.

Counterfeit is not legal tender no matter what. With no security features, the banks would sure have trouble knowing the legitimacy of the coins and whether or not they're actual legal tender. Of course people who work in the bank should know, but I'm sure it's hard.

"I just saw a guy buy the $20 Wolf for $23". This RIGHT HERE is the problem. The fact that that purchase illicits incredulous responses from people highlights what a ripoff this series is, for all parties involved. For buyers, they are spending 4x Spot on a coin that is essentially bullion. For dealers like myself, it is literally impossible to make a profit off them. The public have been brainwashed into thinking that they are a currency exchange, not a retail purchase, so it is impossible to even make $2-3 a coin off the early ones, except the first of course.

This series needs to end. As a general rule, I can gauge the knowledge of a collector based on how many of these they are buying. Nobody is sticking with the series, it's time for the mint to stop this deception. Seniorage is fine, but do it with steel slug quarters that people can always spend like always, not $20 silver rounds.