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

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Anjohl's Avatar
Canada
815 Posts
 Posted 04/14/2014  7:13 pm  Show Profile   Bookmark this reply Add Anjohl to your friends list Get a Link to this Reply
I didn't make that rule to rip people off. I did it to educate, and STOP people from selling them to me.
Pillar of the Community
Canada
1505 Posts
 Posted 04/14/2014  8:50 pm  Show Profile   Bookmark this reply Add purelywasted to your friends list Get a Link to this Reply
I like your idea Anjohl.

I will take anyone's legal tender notes (especially the ones that many merchants won't accept 50's and 100's for scrap/recycle value).
Pillar of the Community
Anjohl's Avatar
Canada
815 Posts
 Posted 04/14/2014  10:41 pm  Show Profile   Bookmark this reply Add Anjohl to your friends list Get a Link to this Reply
Again, the point was to deter people from trying to sell them to me, since customers have been brainwashed by the mint into thinking that these are worth EXACTLY $20/ea, which destroys any semblance of a profit margin. I had $600 face, going back to coin #2, and I could not get $25/ea. As soon as I announced I was taking them to the bank, people came out of the woodwork wanting them. So if $5/coin is too much to pay, then 90% FV is all I am willing to pay, and even then, I won't take them unless they are popular issues.
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AgCoinAu's Avatar
Canada
3049 Posts
 Posted 04/14/2014  11:55 pm  Show Profile   Bookmark this reply Add AgCoinAu to your friends list Get a Link to this Reply
I live in winnipeg.. I go to the mint at least once a year they have always said I can take them in and get face... So I buy them occasionally nod hope to buy a nice gold piece eventually... I have heard the RBc takes em and have seen them listed on kijiji of $25 all the time
New Member
wsdcoins's Avatar
Canada
41 Posts
 Posted 04/15/2014  12:16 am  Show Profile   Bookmark this reply Add wsdcoins to your friends list Get a Link to this Reply

Quote:
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.


@Tola

I personally accept $20 for $20's or $100 for $100s as payment towards any purchase.


@Anjohl

You say you're selling them @ 90% of face value? What dealer are you? I'll come pick up everything you've got! :D

Edit: nvm looks like you buy @ 90% not sell :(
Edited by wsdcoins
04/15/2014 12:20 am
Pillar of the Community
Anjohl's Avatar
Canada
815 Posts
 Posted 04/20/2014  3:04 pm  Show Profile   Bookmark this reply Add Anjohl to your friends list Get a Link to this Reply
WSDCoins, you just proved my point better than I ever could.
Pillar of the Community
Canada
640 Posts
 Posted 04/20/2014  3:10 pm  Show Profile   Bookmark this reply Add justsilver to your friends list Get a Link to this Reply
I went to Vancouver Mint Boutique few days ago to purchase $50 for $50 Polar Bear silver Coin.

Boutique manager told me that Royal Bank (RBC) on Gerorgia Street & Burrard Street accepts $20 for $20, $50 for $50, & $100 for $100.

Staffs in that branch are familiar with depositing non circulated Canadian coins & shall be easy for RBC's customers to deposit them.
Pillar of the Community
arianzo's Avatar
Canada
2124 Posts
 Posted 04/20/2014  3:25 pm  Show Profile   Bookmark this reply Add arianzo to your friends list Get a Link to this Reply
I didn't any problem cashing them.
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