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

^^^^^ I'm pretty sure if you are doing a trade for the owl then no there would not be a limit. Could ask them.

The 0.50 cents coin is legal tender or not applying the same logic?

Thanks SPP, I was getting tired of defending this topic. I like your comment.... The jscket does not have CANADA $20 written...
Yes, anything/item/bullion, can be used as trade but are NOT legal tender unless - backed by the bank of Canada, and Issued by the supplier of coin to CANADA - for my LAST time - Legal Tender. Circulating or not, THEY ARE.

Lol.

I couldn't stay on the sidelines any longer...




You're right! So here's the legal text which makes Canada's NCLT coins (the $XX-for-$XX coins as well as others) legal tender.

From Canada's Currency Act:

PART I
CURRENCY AND COINAGE

MONETARY UNIT

Monetary unit

3. (1) The monetary unit of Canada is the dollar.

Denominations

(2) The denominations of money in the currency of Canada are dollars and cents, the cent being one hundredth of a dollar.


CURRENT COINS
Current coins

7. (1) A coin is current for the amount of its denomination in the currency of Canada if it was issued under the authority of
(a) the Royal Canadian Mint Act; or
(b) the Crown in any province of Canada before it became part of Canada and if the coin was, immediately before October 15, 1952, current and legal tender in Canada.

Defaced coins not current

(2) No coin that is bent, mutilated or defaced, or that has been reduced in weight otherwise than by abrasion through ordinary use, shall pass current.


LEGAL TENDER
Legal tender

8. (1) Subject to this section, a tender of payment of money is a legal tender if it is made
(a) in coins that are current under section 7; and
(b) in notes issued by the Bank of Canada pursuant to the Bank of Canada Act intended for circulation in Canada.

Limitation

(2) A payment in coins referred to in subsection (1) is a legal tender for no more than the following amounts for the following denominations of coins:

(a) forty dollars if the denomination is two dollars or greater but does not exceed ten dollars;
(b) twenty-five dollars if the denomination is one dollar;
(c) ten dollars if the denomination is ten cents or greater but less than one dollar;
(d) five dollars if the denomination is five cents; and
(e) twenty-five cents if the denomination is one cent.

Coins of denominations greater than ten dollars

(2.1) In the case of coins of a denomination greater than ten dollars, a payment referred to in subsection (1) may consist of not more than one coin, and the payment is a legal tender for no more than the value of a single coin of that denomination.


And per the Royal Canadian Mint Act referenced above:


NON-CIRCULATION COINS

Issue of coins

6. The Governor in Council may authorize the issue of non-circulation coins of a denomination listed in Part 1 of the schedule.

Characteristics

6.2 The Mint may determine the characteristics, other than the design, of any denomination of a non-circulation coin.

Design
6.3 The Minister may determine the design of any denomination of a non-circulation coin.


Here's the Schedule 1 referred to above:

SCHEDULE
PART 1
NON-CIRCULATION COINS
- Denominations
- One million dollars
- One hundred thousand dollars
- Two thousand five hundred dollars
- Five hundred dollars
- Three hundred and fifty dollars
- Three hundred dollars
- Two hundred and fifty dollars
- Two hundred dollars
- One hundred and seventy-five dollars
- One hundred and fifty dollars
- One hundred and twenty-five dollars
- One hundred dollars
- Seventy-five dollars
- Fifty dollars
- Thirty dollars
- Twenty-five dollars
- Twenty dollars
- Fifteen dollars
- Ten dollars
- Eight dollars
- Five dollars
- Four dollars
- Three dollars
- Two dollars
- One dollar
- Fifty cents
- Twenty-five cents
- Ten cents
- Five cents
- Three Cents
- One cent


So, per the Royal Canadian Mint Act, the RCM is authorized to strike non-circulation coins in a wide range of denominations. Per Canada's Currency Act, all coins issued under the Royal Canadian Mint Act are considered Legal Tender within the limitations specified.

Is that enough legal evidence for folks to agree that Canada's NCLT coins are legal tender - however cumbersome it might be to use them in daily commerce? I hope so!

It seems to me this argument is more about fungibility rather than legality.

It seems, from the links and quotes provided, that the 20/4/20 are indeed Legal Tender. Where they fall short, compared to a $20 bill is their fungibility - although SPP has demonstrated that that fear is not as real as some may portend.

First, the Messiah will come....

I think that was used quite a bit earlier in the post... I too had to 'look it up'. However, being a real word, and using it in casual conversation, I don't think it'll be taken if not in context. (eg: the gas in the borrowed car example) You would for sure get some strange looks.