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 Replies: 514 / Views: 78,847 |
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Valued Member
Canada
279 Posts |
SOLAR PENNY
I wouldnt mind a copy of that if you could email it to me..
cheers
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Valued Member
Canada
292 Posts |
Solar Penny,
I'd also appreciate a copy of that email as well please. I'm getting rid of all my 100 for 100 coins.
Thank you
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Pillar of the Community
Canada
1751 Posts |
Send me one too. Always good to have handy. I never cashed mine in. I use them as a way of keeping a savings. This way I don't spend the money and have something pleasing to look at. Sure beats plastic money by far!
I was reading reviews last night on X for X coins. I was surprised by two things the amount of Americans that buy them and the amount of people buying them as a gift, mainly for children.
Now I wonder how many non coin collectors this has converted to collectors? Maybe this is why the mint has something for everyone.
I also wonder what real mintages will be, after coins keep getting returned to the bank? Anyone care to share opinions?
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Pillar of the Community
Canada
640 Posts |
More and more banks acknowledging NCLT and willing to accept deposit on NCLT. RBC on Georgia & Burrard, RBC on Cambie & Broadway & TD in Park Royal North, are all accepting deposit on RCM's face for face coins. p.s. just spoke to TD in Park Royal, he is fully aware NCLT but asked appointment for deposit because staffs were not familiar with NCLT coins. |
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Pillar of the Community
Canada
1505 Posts |
Just deposited 20 for 20's and 200's for 200's at RBC.
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Pillar of the Community
Canada
640 Posts |
Deposited $20 for $20 silver coin this morning in Park Royal TD bank.
Manager told me that minimum $50 in face value coins required for exchange cash or for deposit into bank account due to Mint's redemption policy.
Non-TD customers are welcome to exchange from silver coin to cash but maximum $1,500 ( min $50 )
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Valued Member
Canada
292 Posts |
I tried to deposit four $100 for $100 and BMO wouldn't accept them. I even had the policy that Solar Penny provided. They said they would look into it but that BMO policy was that they had to hire an armoured car to send it back and couldn't Fedex. I think I'll just try a TD Bank.
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Pillar of the Community
Canada
5324 Posts |
Why not try your own bank branch.
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Valued Member
Canada
292 Posts |
John100 - That was my own bank branch. I always bank there
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Valued Member
Canada
115 Posts |
i brought some of my 20X20 that the mint had sent me by mistake to RBC, and to be honest, the first time I showed up there, you could see that they didn't know what to do. however, they looked into it and gave me a call back the next day saying that I could just bring my coins over to deposit at face value.
overall, good experience.
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Pillar of the Community
Canada
5324 Posts |
Just threaten your own branch that you will move your accounts to another banks, they surely not going to lose your business over 400.00 deposit plus the BMO will get a fee from the RCM. The banks generally send all these Nclt and nickel dollars to a regional clearing house and when they adquire enough volume to send back to Ottawa. |
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Pillar of the Community
Canada
1751 Posts |
Its interesting all this discussion on whethere or not X 4 X coins can be deposited at banks. It seems most people that inform the bank of RCM process to be redeemed usually are successful. So I don't really see the risk for Canadian collectors! The odds are better, than for other nclt coins, which within a yr start dropping dramatically in the secondary market. It would be great if they at least held their issue price,sice they,re multiples of silver spot. |
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Valued Member
Canada
234 Posts |
I will continue to buy all the coins in all the X for X series (although now I only buy one of each unless I have to spend more at the end of the year to maintain MC membership). I don't see any risk as long as banks are willing to accept them. However, if discussions began about many banks refusing to accept them when they did in the past then I would be inclined to offload my entire X for X collection.
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Pillar of the Community
Canada
640 Posts |
As I mentioned on October 19th's post. I deposited 148 pcs $20 for $20 on Monday at TD bank ( Park Royal Branch ) It was also first time for that TD branch processing RCM's NCLT coins. Manager printed out TD " internal " document regarding RCM NCLT redemption procedure. 1. Minimum $50 NCLT required on redemption, ( no maximum ) 2. Verify coin's face value 3. Calculate total amount in NCLT coins. 4. Put NCLT coins in envelope then seal. 5. Call Fedex for pickup and ship directly to RCM in Ottawa ( RCM pay Fedex directly ) 6. After verification, RCM mails check to TD branch for total NCLT amount + 2% processing fee. Before tried TD Park Royal Branch, I tried TD branch in North Vancouver but rejected. Branch manager was too lazy to do all these redemption just because of 2% profit. Anyway, RBC at Georgia & Burrard, RBC at Cambie & Broadway, TD at Park Royal are accepting NCLT coins. ( Vancouver area ) |
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Pillar of the Community
United States
2408 Posts |
Maybe the whole X for X project was failure. But I think not. I believe all those returns are as a result of declining silver price. Flippers/Investors/Hoarders got nervous and saw the only logical way out : unload NOW and get their money back. And this is a totally reasonable reaction given that the coins supposedly hold their face value. In the end though... the X for X remain pretty interesting pieces to collect (if that word "collecting" even matters anymore). Personally, of all the RCM coins I ever owned these are the only NCLTs I am betting on. I can't explain why. Perhaps it is because they are in a class of their own. |
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Replies: 514 / Views: 78,847 |
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Posted 10/10/2015 11:45 pm
