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Pillar of the Community
Canada
6768 Posts |
I might only guess, that Bullion coins, bars rounds considered Pure 'raw' silver and no tax applied to it.
While NCLT item, it already not coin only, but finalized product (although it's main part still pure silver/gold), hence could be taxed.
Not 100% perfect, but still logical (specially since it gives a backdoor to charge us more money).
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CCF Master Historian of USA Commemoratives
 United States
12293 Posts |
Directly from the British Columbia Provincial Sales Tax Act under Provincial Sales Tax Exemption and Refund Regulation: Quote:
Gold, silver or platinum in the form of bullion or coin is exempt from tax imposed under Part 3 of the Act unless the bullion or coin is obtained for a purchase price greater than the market value of its gold, silver or platinum content. Clearly, in just about every case, the price charged for a NCLT coin is a multiple of its intrinsic bullion market value - hence the tax per code. As written, this law also applies to high-priced bullion, but most sellers appear not to make the distinction and prefer a simple bullion vs. NCLT classification. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
  Canada
665 Posts |
With apologies for those not interested in taxation in British Columbia... The actual language in the BC Government primer listing PST exemptions is: Quote:
Gold, silver or platinum in bullion or coin form, unless obtained for a
purchase price greater than the market value of its gold, silver or
platinum content (e.g. collector's coins) They grey area as I see it is the measure used is the "purchase price greater than market value". I would assume that whatever price a local bullion dealer is charging for Maples would set a baseline for the bullion price (e.g. Silver price today = $25.84 CAD. one local bullion dealer is charging $31.86 for a Maple)... But at what markup does the PST get triggered. As you know, Australian Swans, Privy Maples, Chinese Pandas or even past year maples... all bullion issues... can sell for 100% or greater markups. The language uses price as a determinant not finish (proof vs. Specimen vs. BU vs. bullion strike). Clearly NCLT from the RCM would not be a tax exempt item but with some of the deflationary impacts on RCM NCLT recently... would PST be applicable to a $20 Proof Ounce sold for $30-$35... Like bullion, it is 999+ Silver, both are close to market price for silver? Any BC Dealers out there who can contribute your rules of thumb? Oh and for anyone interested in the BC Government Primer: https://www2.gov.bc.ca/assets/gov/t...cgovtm=CSMLS The specific text is at the top of Page 12. |
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Pillar of the Community
Canada
665 Posts |
@commems  Responding at the same time |
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Pillar of the Community
Canada
6768 Posts |
Did I miss some Commemorative circulation pack or roll or something for the 75 year of ending WWII? 2020 Canadian coin? US coin? May is far behind ...... Just was searching on ebay and found some not bad releases from Russia. And what about us, not important? |
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CCF Master Historian of USA Commemoratives
United States
12293 Posts |
There is a $2 circulating commemorative coin coming; plain and coloured versions will be released. The RCM will likely sell circulation packs for it. I don't know the planned launch date, but would offer a guess of V-J Day (August 15th) - the day Japan announced its surrender and effectively ended WWII. Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
07/10/2020 3:05 pm
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Pillar of the Community
Canada
6768 Posts |
Quote:There is a $2 circulating commemorative coin coming; plain and coloured versions will be released. The RCM will likely sell circulation packs for it. Thank you for updates, Commems If RCM were asking me, I would advise to mint $2 coin with the core, that fully repeats 1945 V nickel, but double-dated and with denomination, while actual face value of CDN 2 will be on the outer ring or obverse. |
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CCF Master Historian of USA Commemoratives
United States
12293 Posts |
No visuals, but here are the published design descriptions for the upcoming $2 coins:
Coloured two-dollar coin
- the obverse impression of which is to depict, on the inner core of the coin, the effigy of Her Majesty Queen Elizabeth II by Susanna Blunt, with the initials "SB" on the bottom left-hand corner of the neckline, and, on the outer ring, a maple leaf centred at the top of the coin with the inscriptions "ELIZABETH II" and "D#8729;G#8729;REGINA" to its left and right, respectively, and the inscriptions "CANADA" and "2 DOLLARS" at the bottom of the coin, and
- the reverse impression of which is to depict, centred on the inner core, a prominent blue capital "V" overlaid, in the centre, by a white flaming torch with red and orange flames, the inscriptions "1945" and "2020" on the left and right of the "V", respectively, with a silver maple leaf under each of "1945" and "2020", the artist's initials "T.S" to the bottom right of the "V", centred at the top on the outer ring, two virtual images of a maple leaf between two lines, on the left and right of the outer ring, respectively, the inscriptions "VICTORY" and "VICTOIRE", with inscriptions in Morse code reading "WE WIN WHEN WE WORK WILLINGLY" above and below "VICTORY" and "LA BONNE VOLONTe EST GAGE DE VICTOIRE" above and below "VICTOIRE" and, centred at the bottom of the outer ring, a banner, with two security marks consisting of a maple leaf within a maple leaf, each within a circle on each side of the centre of the banner, and the inscriptions "REMEMBER" on the banner to the left of the left-hand security mark and "SOUVENIR" on the banner to the right of the right-hand security mark, and the inscriptions "CANADA" and "2 DOLLARS" on the edge of the coin, with a maple leaf before and after the inscription "CANADA"; and
Plain two-dollar coin
- the obverse impression of which is to depict, on the inner core of the coin, the effigy of Her Majesty Queen Elizabeth II by Susanna Blunt, with the initials "SB" on the bottom left-hand corner of the neckline, and, on the outer ring, a maple leaf centred at the top of the coin with the inscriptions "ELIZABETH II" and "D#8729;G#8729;REGINA" to its left and right, respectively, and the inscriptions "CANADA" and "2 DOLLARS" at the bottom of the coin, and
- the reverse impression of which is to depict, centred on the inner core, a prominent "V" overlaid, in the centre, by a flaming torch, the inscriptions "1945" and "2020" on the left and right of the "V", respectively, with a silver maple leaf under each of "1945" and "2020", the artist's initials "T.S" to the bottom right of the "V", centred at the top on the outer ring, two virtual images of a maple leaf between two lines, on the left and right of the outer ring, respectively, the inscriptions "VICTORY" and "VICTOIRE", with inscriptions in Morse code reading "WE WIN WHEN WE WORK WILLINGLY" above and below "VICTORY" and "LA BONNE VOLONTe EST GAGE DE VICTOIRE" above and below "VICTOIRE" and, centred at the bottom on the outer ring, a banner, with two security marks consisting of a maple leaf within a maple leaf, each within a circle on each side of the centre of the banner, and the inscriptions "REMEMBER" on the banner to the left of the left-hand security mark and "SOUVENIR" on the banner to the right of the right-hand security mark, and the inscriptions "CANADA" and "2 DOLLARS" on the edge of the coin, with a maple leaf before and after the inscription "CANADA".
Collecting history one coin or medal at a time! (c) commems. All rights reserved.
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Pillar of the Community
Canada
3733 Posts |
Don't expect to see these in circulation packs, the RCM hasn't done that for quite a while, usuall you have to buy rolls with special labels for them, or try to get them in circulation..But perhaps with covid, it would make more sense to allow people to buy them through the mail.. |
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CCF Master Historian of USA Commemoratives
United States
12293 Posts |
Quote:Don't expect to see these in circulation packs, the RCM hasn't done that for quite a while... You're right, it has been a few years since the last pack. I don't tend to purchase them, so I don't keep close track of them. Thanks for the note! Maybe last year's D-Day circulation coin offerings would be a good model for this year? There was a Collector Card that had one of each version of the $2 coin and a pair of Special Wrap rolls as silverwolf mentioned. I guess we'll see soon! Collecting history one coin or medal at a time! (c) commems. All rights reserved.
Edited by commems
07/10/2020 6:17 pm
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Pillar of the Community
United States
1373 Posts |
From my post on 7/1/2020: Quote:
RCM put the colorized proof set on it's website today so I bought it; but a little dismayed that I'll have to wait until October to get it in the mail. I just checked my account at the RCM and now it says this set won't be mailed out until March of 2021. Seems like a v-e-r-y l-o-n-g time to wait. I may have to call the RCM because I think the credit card I bought it with back in July expires next month.  Edited by atticguy
11/04/2020 12:18 am
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Pillar of the Community
568 Posts |
@atticguy
You're right.
MINTAGE: 7,000
STATUS:Ships Mar-15-2021
Canada and US only
I received my 2020 Pure Silver Coloured 6-Coin Set with Medallion from TSC yesterday. Unfortunately they are sold out.
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Valued Member
Canada
354 Posts |
March 2021! That's a long time to wait. When I look at my order from the RCM, it says "Your order is estimated to arrive Jan-20-2021". |
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Pillar of the Community
United States
1373 Posts |
 Hey hey hey! The mailman brought me my 2020 coloured silver proof set today. I'm not sure if it's a late 4th of July present or an early Christmas gift. Anyway, I'm glad it finally arrived; and it looks super-sweet. |
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Rest in Peace
Canada
1360 Posts |
I ordered the 6-coin Coloured Set ($199.95 less $30 for blackfriday) delivered (and invoiced I presume) sometime in 4 months from now. Cool deal for something I would have bought earlier (but forgot).
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Posted 07/08/2020 11:18 am
