Well This Could Be Part Of The Problem, With The 20-4-20$, 100-4-100$..etc.

these are the first fakes I have noticed on ebay..i would have to go pull my out of the safe, but on first glance they look pretty good. has anyone got one close by to do a comparison..and yes I have reported them as counterfeit to bobby.

Thanks for the markers JimmyD.

It was just a matter of time before counterfeits surfaced

I'd suspect the banks will start implement stronger processes to protect themselves.

That is, something like you must be a customer, the redemption must be deposited to an account and the funds held until the coins are verified and accepted by the RCM.

That would drastically increases the risk to collectors who buy from secondary sources and therefore would virtually kill the trade of these coins.

Can you image if someone in China or elsewhere was mass producing $100 bills and introducing them into our monetary system? There would be an instant response from police, lawmakers and the BoC. Strong countermeasures would be in place and the public notified. But, this story will probably never even make the news because the Mint wants to keep it quiet...like they tried to do with the gold smuggler guy.

@CC-Ottawa "I'd suspect the banks will start implement stronger processes to protect themselves." They already have for a long time.
They refuse to deal with the potential "red tape" with these transactions whether you're a "valued" customer or not.

I had every $X for $X that was issued up until July 2016. I had no problem taking them to the bank the first few times but the last $200 coin was a bit of a headache at my bank. The issue was that the mint did not include $200 coins in the listing for $x for $x coins that was sent to banks. The following day, I got a call from the bank saying they would accept them. They did not hold them until verified and I traded for bills without making a deposit. I did not make an appointment, I just walked in a stood in line as if I was doing any other transaction. I'm also with TD. It really depends on the specific branch and if you're known to the bank employees

@CC-Ottawa "If you dealt with a coin dealer, you sold your coins, you didn't cash them in. There is a significant difference. "
I'm not sure I understand the difference. Coin dealer gives me $20 for $20 for $20 or a bank branch does (which my bank and several others would not do).

My point being, through my experience, that BANKS (and their branches) have already tightened up the process to the point many will not accept them (for whatever their reason).

There are a couple of differences. Selling to a dealer, you can negotiate either a higher, lower or FV transaction. As well, the dealer then owns the coins and can resell them or exchange them. It's no different than sell them to your neighbour or a guy on kijiji. The coins stay in the market place until they are redeemed at a bank. The risk of owning the coin transfers from you to the buyer therefore the buyer will be more diligent.

When you deal with a bank, the bank is simply an intermediary for the transaction between you and the RCM. You will never get anything more or less than FV and the coins will most likely be melted. The risk becomes a monetary loss to the Mint and bank simply will put procedures in place to ensure they have no risk. That will most likely NOT include stringently verify authenticity because at no point are they owners of the coins. They will leave that to the Mint.

"Tighten" is a relative term. Yes some banks have good processes, and some don't. But the first time any bank accepts a significant amount of counterfeit x for x, IMO all of the banks will (further) tighten their procedures. We seem to be agreeing here except the inference that all BANKs (and their branches) behave the same way now. Clearly, they do not based on anecdotal evidence posted by others here today.

My point is, if these counterfeits hit the banking system, then it will become even more difficult to simply cash them in and the Mint's marketing rhetoric will be exposed for the lie that it is.