What's Your Experience Cashing In Your 20for20-S At The Bank?

zxcccxz: Are you sure about that? If most financial institutions are not easily accepting these why would a dealer. Dealers are already having a hard time selling other common NCLTs unless they are super low mintage ladybugs or supermans....you know what I mean.

If you haven't tried how can you know for sure.

Perhaps one should start another topic "tell us your experiences exchanging your 20for20s at a dealer". We might be surprised.

Thanks forumguy but unless you live in downtown Vancouver, Winnipeg or Ottawa it's a bit difficult to do so.

Brought a dozen of $100 grizzly bears to RBC. Of course they were not aware of what to do but branch manager relatively quickly clarified the procedure.
Had to open savings account though so they could make a deposit when funds clear (took a week).

@DragonMaster: I'm making an assumption, yes, but my local dealer knows me well, I have spent $1000's at his shop. Another things are that, he likes to buy $20 for $20. He says he often gets people in asking for $20 for $20's and $100 for $100's. He buys them for face and then sells them for a quick 20% profit. Not sure how it is with other dealers.

DragonMaster, in terms of your question, it took that long because the branch had to figure out what to do and they were kept on hold quite a long time when they called the mint and then HQ to get instructions and the correct paperwork.

That, and the branch asked me to remove them out of the capsules. So it was a little bit of both. I don't think it should take more than 15-20 minutes if I had to do it again.

As for the person who asked why buy it instead of spending at a Timmy's...Think about the cash back ;). It's a free $40 in cash back on 100 coins on credit cards. A free box and packaging supplies to ship out other stuff, and if you can't sell it to make a profit (i.e. can't sell it for $25 a pop), you just cash them in with no risk, and it's a guaranteed minimum profit from the cash back assuming you get 2% like I do.


Also in terms of dealers accepting them back. Just as an example, I normally take these as a form of payment if anyone asked if they were buying something else from me :).

Well, I had 50 or so of the first $100 for $100 Bisons...A dozen isn't too hard to believe.

Can anybody please give a list of dealers that accepts these as payment? Closest major city to me is Toronto. I would totally use these to pay for other coins.

I think anybody offering to sell you 20/4/20's at bullion hasn't done their homework. Did many people take you up on that?