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March 2021 New RCM Releases

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5680 Posts
 Posted 02/27/2021  09:29 am  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
Is it possible that the issue is a system glitch? I don't see the difference between a rhodium-plated silver coin and a gold-plated silver coin. Once the plating is applied, neither coin is pure silver any longer.

It might be worth a quick call to the RCM.


Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
02/27/2021 09:30 am
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Canada
917 Posts
 Posted 02/27/2021  2:32 pm  Show Profile   Bookmark this reply Add New1954 to your friends list Get a Link to this Reply
DEFINITELY Taxes on the MC coin. When my rep sent me the advance release earlier this week, it stated clearly PLUS TAXES. I gather gold plating is now considered an embellishment as it is not PURE GOLD.

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 Posted 02/27/2021  3:07 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
I don't see the difference between a rhodium-plated silver coin and a gold-plated silver coin.


I don't think there is a difference between rhodium and gold plated coins. It is the amount of plating. If the coin is entirely plated like the MC Maple Leaves, then it is taxable. The Dino Rhodium coin is only partially plated. As is the 5 oz Maple Leave in Motion coin. Both of the latter are tax excempt.
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Canada
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 Posted 02/27/2021  4:07 pm  Show Profile   Check jimper's eBay Listings Bookmark this reply Add jimper to your friends list Get a Link to this Reply
Thanks all.

The taxes on certain types of coins will be more expensive making less coins to buy. I will not be buying taxed coins, especially that they're over priced to begin with. IMO
"If you lose it here, you're in a world of hurt"
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Canada
113 Posts
 Posted 02/27/2021  9:33 pm  Show Profile   Bookmark this reply Add Tender4848 to your friends list Get a Link to this Reply
No taxes on the 2020 Iconic Maples Leaves $20 Gold plated coin I purchased back in November, and the issue price was only $109.95

Now 3 months later $18.00 in taxes and the issue price jumped to $139.95
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Canada
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 Posted 02/28/2021  02:02 am  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
Here is the reason for the tax on the Iconic Maple Leaf leaf. Last year the RCM made changes to the tax treatment of coins with embellishments:

https://canadiancoinnews.com/rcm-up...matic-coins/


Quote:
Effective Sept. 28, coins with one or more modifications pushing a product's total purity, including embellishments and embedded items, below 99.9 per cent for silver and 99.5 per cent for gold and platinum are subject to federal and provincial sales taxes.


In other words, the amount of gold plating caused the coin to go below the 99.9% threshold for silver coins, triggering taxes.
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 Posted 02/28/2021  10:29 am  Show Profile   Bookmark this reply Add rjlavoie to your friends list Get a Link to this Reply
The tax on the gold plated MC makes no sense. Add the "Pure Silver Gold-Plated Coin - Pandas: A Golden Gift of Friendship (2019)" to your cart and that gold plated silver coin is tax free. How is that? Imagine going to buy something that went up in price and telling them that because the item was stocked when the price was lower, you were only paying the lower price.

You would think if the reasoning was that the coin was no longer .9999, ponder on this. According to the RCM specifications, previous coins of the same 38mm shape and .9999, were shown to weigh 26.51 grams.
https://www.mint_ca/store/product/p...=prod2770456
The RCM shows the gold plated coin weight at 26.51 grams. The same weight. If tax is charged because the coin went from .9999 to .999 or lower, if my math is correct, there should be a weight difference of 0.02 grams and the gold plated coin should be 26.53 grams or more.
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Canada
497 Posts
 Posted 03/01/2021  12:51 pm  Show Profile   Check jimper's eBay Listings Bookmark this reply Add jimper to your friends list Get a Link to this Reply
I think it would be a good idea if the RCM would specify if their coins are tax free or plus tax on each of the coins for sale. Then there wouldn't be any confusion about how much plating or embellishment of a coin. IMO
"If you lose it here, you're in a world of hurt"
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 Posted 03/01/2021  1:06 pm  Show Profile   Bookmark this reply Add mikem to your friends list Get a Link to this Reply

Quote:
I think it would be a good idea if the RCM would specify if their coins are tax free or plus tax on each of the coins for sale.


I think the Mint is already getting flack on this.

In the brochure that came out a couple weeks ago (2021 number 3), there is no mention of "NO GST/PST" on the price of this coin. Other silver/gold coins state "NO GST/PST"

In the email (Advance Product Notice: Our newest coins are here!) that came out today, the price now clearly states "$139.95 PLUS TAXES!"
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Canada
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 Posted 03/01/2021  5:14 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
@jimper;

There appears to be some inconsistency when it comes to taxes for certain coins no longer considered 99.99% pure.

For the Iconic Maple Leaf, the advance notice said taxes extra but the website for the coin does not say anything regarding taxes.

For the Diversity Emerald coin, there is clearly a emerald that should push the coin below 99.99% purity. Yet the advanced notice says GST/HST free. On the other hand, on the website for the Diversity coin, nothing is mention regarding GST/PST.

So what is the RCM policy regarding coins that are not 99.99% pure. They should get their act together to avoid this confusion.
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Canada
1261 Posts
 Posted 03/01/2021  8:44 pm  Show Profile   Bookmark this reply Add Dcadon to your friends list Get a Link to this Reply
Here's the answer from my Mint Rep:


Quote:
Good morning Don,

It has to do with total weight of the coin.

By increasing the weight of the coin with other elements, this changes the overall purity of the item.

The coin is fine silver and the added weight of other elements (metal or embellishments) brings the overall purity of the coin under the required 99.9% to not charge taxes.


Maybe now we can get back to 'Just Coins' and not all these things that look like a table at the craft fair.
Edited by Dcadon
03/01/2021 8:46 pm
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Canada
2799 Posts
 Posted 03/01/2021  10:30 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
The answer by the rep does not explain why the emerald on the gold coin makes it GST/HST exempt.
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Canada
276 Posts
 Posted 03/02/2021  05:20 am  Show Profile   Bookmark this reply Add rjlavoie to your friends list Get a Link to this Reply
Better explanation from my rep that clears it up, at least for 2021 MC coin.

"The Silver coin itself uses 999.9% Silver in its composition (26.687g), the added gold plating (0.12544g) is enough to change the entirety of the coin to below an overall 99.99% purity level"

By this explanation, the coin with the gold plating is 99.51%.

Edited by rjlavoie
03/02/2021 08:12 am
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 Posted 03/04/2021  7:26 pm  Show Profile   Bookmark this reply Add commems to your friends list Get a Link to this Reply
I think the novel finish on the "W" Mint Mark Maple Leaf coins is interesting and potentially attractive. I'd like to see one in hand, but won't purchase one just for the opportunity. Maybe someday at a coin show...

Other than that, I didn't have much interest in this month's release. How about you?

Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Valued Member
Canada
460 Posts
 Posted 03/05/2021  12:03 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply


I like the History on the move series... The usage of fonts to reinforce the era is a nice touch and showing some consistency in artistic style. That said at $600 for 5oz of Silver, it is too rich for my blood. I will wait to see if they show up in the secondary market in a few years at a more reasonable price.

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