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

Incorrect. Any amount of paper money notes of a given denomination are legal tender. If you walked into a bank and asked to pay off your mortgage with one dollar bills, and they refused, they would have to write off the debt. NCLT is the issue here, not policy.

The mint markets these as currency exchanges, when they are not. It is an advanced seniorage scam, selling people $6 worth of silver for $20, all under the pretext that they can cash them in at will; that it's a no-lose lottery. It is a no-lose lottery, if you are the one minting them.

And I will counter your offer. You forward your paycheck to me each week, and in return, I will give you NCLT back equal to 1.1X your paycheck. So for every $100 your check is for, I will give you $110 in NCLT FV. I am sure you will accept, since these coins are legal tender, and can be used to buy gas, groceries, pay rent/mortgage, etc.

Seigniorage (/ˈseeªnje™reªd- '/, also spelled seignorage or seigneurage) is the difference between the value of money and the cost to produce and distribute it.

Would you not then arrive at the same conclusion as I, that the paper isn't worth the money printed on it? Yet the Silver coins would hold a fairer 'true value' over time? At today's value, a silver ounce is about $22. It has been made into both $20 coins, and $100 coins. This is no different then years ago, when Silver was substantially less... do you think they 'opted' to put $0.40 cents into every Canadian Quarter? of course not. But, as the price of silver escalated, the quarters were stripped from circulation. We saw the same only 2 years ago, as silver neared $50/ounce - You couldn't stop the flow of people trading in their NCLT coins at a premium. Now, silver has settled down, all we can do - at our level - is speculate on it's rise and fall. Personally, I'm pretty sure it'll maintain more value than the plastic bills they are producing today. Inflation or not.

My guess, is that you went heavy into the 20/4/20's expecting the price of silver to jump or at least rise to a level of $20 per Quarter ounce, and you were hoping to turn a tidy profit on them. Guess that's just the gamble you took, and are now disappointed that the market won't allow you to profit on your prediction.

True 'collectors' are not looking to profit today. Yeah, sure, maybe one day, I'll leave my collection to a kid or grand kid, and it might put them through college or University, but I don't expect it to pay off tomorrow.

BTW, How are we on you selling me your entire NCLT set at Face Value?

The seniorage scam at work here is TELLING people they are switching $20 for $20, when in actual fact they are switching $20 for $6+X, where X=production cost+overhead/total mintage.

The reason the scam is working is because misguided fools are believing other misguided fools. When the first batch of fools start trying to spend these, and the other fools finally snap out of it, all of the fools will realize that the "big flip" has already been done on these coins, by the mint.

I took back 3 20 for 20's without capsules or cards to the Vancouver mint. I bought a $5 Token and they gave me $55 cash back....got some free capsules..haha

If you can only redeem these at the Mint and certain banks, they are not legal tender. When 99% of merchants accept these then then you have legal tender. 99% of merchants accept checks and credit cards. No merchants accept these 20/4/20. These are not legal tender. Period.

Our Minister of Finance has just address the issue with Bit coins in his recent budget, but if no banks accept these 20 for 20 then they are frauds. Back to Bit coins they must have a increasing following in Canada for the Minister to chime in.

Did anyone ever seen a 20-4-20 sold for silver content on ebay? If you see one, let me know.

Hmm, do they have a limit on the amount of $100 for $100 and $20 for $20 you could trade in? I am looking at the Kilo owl.