Royal Canadian Mint Cancels $200 For $200 Face Value Coins For 2016

in my case, they deposit the amount to my bank account. So I don't see the bank loosing anything for doing that. If the coins are fake, the bank can take the money back out of my account

Which bank was that?

Thank you.

This would be a good question to ask your rep.

However a couple of weeks ago or so already the XforX disappeared from RCM's website, only to reappear a few days later. So it's equally possible the vanishing game is a scare tactic of sorts to motivate those who tend to procrastinate to place their order without delay. It's not as if RCM has earned the reputation of treating customers with a high degree of consideration and respect.

Thanks for clear info.

It basically good that it over - since provides to collectors a limited sets of coins.
In addition, closes all these buy/deposit operations and not clear status of these coins.
What I do not believe - that the Mint by itself planned it for specific period, I think it was flexible, according the situation.

Except high face value, the coin is standard NCLT.
High mintage, in opposite, could only to drag the price down.
(exception, as usual the first coin)
If at any point, Bank will stop to accept them for face value - their aftermarket value will immediately drop down. $200 coins will less suffer - lower mintage and more unique design, but again - the demand for them will be very very low.

Hello all. I am brand new to this forum but I was looking for some info (lurking) and I noticed this topic and I can answer it for you.

I live in a Canadian city with a Royal Canadian Mint store. I asked why the $20 for $20 were not announced for 2017 and the employee said that all the face-value silver coins were recalled back to Ottawa around Christmas. Apparently, people were abusing the system.... for Air Miles.

I had the same look on my face you have now. How? If I buy a $20 coin, that's only 1 Air Mile on my credit card.

Apparently,people were buying as many of the $20$20, $50$50, $100$100, and $200$200 as they could at one time - using their Air Mile credit card... and then turning them in at the bank for cash and then buying more.

Sounds like a lot of work for little return to me... except that the "maximum per customer" was 3 $200s, 3 $100, 4 $50, and 4 $20... so if you buy 1180$ worth each day on your credit card... and your wife does the same, and several other people behind you in line "from a different family, you swear", you can get a lot of Air Miles - and you bring them straight to the bank to cash in and try to do it again tomorrow. I guess the bank noticed a lot of returns coming in, and the Mint store employees were suspicious why so many people were buying coins over and over (must be big collectors or resellers, but they are pretty tolerant about that normally....) but then the bank has to return them to the Mint, and the Mint has to melt down/store/repackage the coins for resale or whatever...


and why not just return it for refund at the Mint store? Because then your credit card is credited and you lose the Air Miles - this way you keep churning and churning and building Air Miles.

I was shocked that this would be an issue - but when you consider the bank and Mint have to deal with a lot of returns from the same branches over and over and combined with the staff feedback that it was the same people over and over doing it....

they decided to end the $ for $ program.

Oh well, the ones I bought have just gone up in rarity I guess.

(I have no other confirmation on this story, except the employee, so I cannot guarantee it but.... kind of makes sense. Less effort than counterfeiting I guess)