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

First of all regarding NCLT, almost 98% of them will be available latter for much less than issue, at least with these types of x for x coins unless the RCM does an abrupt policy change there's no risk. A t the recent RCNA the senior rep that I chatted with had an insane view on what can and should be placed on a NCLT coin, which is anything that might sell a coin, ouch just don't get it at some point you will destroy the hobby. Lastly kind of enjoy every ones opinions and buy what you like, some how someway the RCM is still able to sell about 2/3 sell outs.

I buy them for gifting, cooler than a 20.00 bill, but some designs are stupid, hopefully the people receiving the gifts will turn onto the hobby especially the younger ones

They do believe these x for x coins are reaching the objectives of getting new customers, and maybe they are, they surely cost the RCM a wack in just handling, shipping and future redeeming cost so I hope they meet their objectives. I know the 10 to 20 years old who I gifted really enjoyed these coins over say 5 twenty dollar bills. Part of the RCM problem is even with the x for x they just over do things and issue too many bad themes collectors lose interest and start redeeming.

When the first XforX was originally sold, the mint advertised them as legal tender. Of course people first thought they could be spent like cash. Probably some still do.






Interesting, Canada's current definition and limitations of Legal Tender.
http://laws-lois.justice.gc.ca/eng/...e-1.html#h-6

Even in Canada, there's maximum limits of circulation coins that represent "legal tender", unless the merchant or bank is agreeable in accepting them. In the past situations have arisen from time to time when someone wants to pay a disputed debt or bill out of spite with mountains of pennies. Nope.

Notice the reference to "Coins of denominations greater than ten dollars"?

I highly doubt that RCM would impose limitations, but the law is already in place of max one per day redemptions if they chose to apply it.

Legal tender - definition
"coins or banknotes that must be accepted if offered in payment of a debt."

@ Redzapsid - your bank 'cashed' them for you because they value your business, not because they had to:-)

So if I bring them a bag of sand with $25 written on it, will they credit my account to keep me as a customer? Of course not. The coins are minted by the government, and have a redemption policy in affect with financial institutions. The mint will not refuse these coins by banks.
I have a mortgage with my bank. Until I pay off my house, in a couple decades, I have a debt to settle with my bank. Therefore, I can and do use these coins as payment.
Using the logic that someone can refuse them as payment, one could say $50 and $100 bills are not legal tender. If you've ever been to agas station at night and may have seen a sign that reads "we do not accept $50 bills or greater". Clearly $50 and $100 bills are legal tender as they can be used to pay debts, buy merchandise, and be deposited into a bank account, under the authority of the government of Canada. If the government makes it and declares it legal tender, it is, whether it be a maze game on a coin, 100kg gold coin, or $1000 bill etc.
I tried looking for new topics on the Canadian NCIT (non-circulating illegal tender) section of this forum. I didn't find any.

When the time comes to pay my property tax, I'm going to see if there is a way to pay by cash. If so, guess what I'm going to use! Tell me you think the government will pass on taking my money. Lol.