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 Replies: 20 / Views: 1,448 |
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Pillar of the Community
Canada
1258 Posts |
Made in Manitoba 1 oz Silver & Gold 'P' $99.95 and $4,299.95 (mtg 8,000 & 500)
2021 Circulation 'Special Wrap Rolls' $129.95/5 rolls (5,000 sets)
2021 '100 years' of Canada Coat of Arms 1/10th oz Gold, on larger/thinner (20mm) planchet $499.95 (mtg 3,000)
2021 $3 Floral Emblem Nunavut $49.95 (mtg 4,000)
2021 $200 1 oz. Emerald Gold $4,399.95 (mtg 250)
'History on the Move' Subscription, 3x $50 - 5oz Silver $599.95/ea (mtg 1,250 each coin)
2021 Tyrannosaur $20 - 1 oz. Silver coin $109.95 (mtg 7,500)
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New Member
United States
22 Posts |
I'm kind of surprised we're going two months in a row without a Bluenose release. I mean I feel like that's one you'd see them milk a little more, especially since it was launched in March....
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Valued Member
Canada
487 Posts |
Thanks for the list.
Can someone explain why there is tax applied if you purchase the EXCLUSIVE Masters Club Coin: Pure Silver Coin - Iconic Maple Leaves and there isn't any tax on the 2021 Tyrannosaur $20 - 1 oz. Silver coin. Thanks
Order Total:
Masters Club Coin
$158.14
Subtotal:
$139.95
Shipping:
$7.99
Promotions applied:
-$7.99
Points redeemed:
-$0.00
Taxes:
$18.19
Order Total:
Discovering Dinosaurs: Reaper of Death Coin
$109.95
Subtotal:
$109.95
Shipping:
$7.99
Promotions applied:
-$7.99
Points redeemed:
-$0.00
Taxes:
$0.00
"If you lose it here, you're in a world of hurt"
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Valued Member
Canada
95 Posts |
jimper wrote: Quote:
Can someone explain why there is tax applied if you purchase the EXCLUSIVE Masters Club Coin: Pure Silver Coin - Iconic Maple Leaves and there isn't any tax on the 2021 Tyrannosaur $20 - 1 oz. Silver coin. Thanks
Order Total:
Masters Club Coin
Subtotal:$139.95
Taxes: $18.19 It's probably because it's gold-plated, and the gold is not 99.99% pure (probably 24k). It doesn't list the gold purity on the coin's description. Once that lesser gold (or silver) purity goes on a coin, it's no longer a 99.99% pure coin, and BINGO - the tax man takes his cut. The Tyrannosaur coin is 99.99% silver and nothing else - hence it qualifies as non-taxable. |
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Pillar of the Community
Canada
2784 Posts |
Quote:
It's probably because it's gold-plated, and the gold is not 99.99% pure (probably 24k). It doesn't list the gold purity on the coin's description. Once that lesser gold (or silver) purity goes on a coin, it's no longer a 99.99% pure coin, and BINGO - the tax man takes his cut. The problem may be the coin is "fully" gold plated rather partially gold plated or acccented like the 1/2 Kilo Triumphant Dragon or the Maple Leaf in Motion coin. Those coins are GST/HST exempted.
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Valued Member
Canada
487 Posts |
Thanks all for the clarification.
I guess the rhodium plating is ok then.
The price of $139.95 is bad enough.
But $158.14 for a coin which is just over 3/4 oz. is insane. This is a hard pass.
I wonder if this coin will even sell out at that price.
"If you lose it here, you're in a world of hurt"
Edited by jimper
02/27/2021 01:53 am
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Pillar of the Community
United States
5559 Posts |
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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Pillar of the Community
Canada
906 Posts |
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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Pillar of the Community
Canada
2784 Posts |
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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Valued Member
Canada
487 Posts |
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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Valued Member
Canada
106 Posts |
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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Pillar of the Community
Canada
2784 Posts |
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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Valued Member
Canada
274 Posts |
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...=prod2770456The 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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Valued Member
Canada
487 Posts |
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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Valued Member
Canada
95 Posts |
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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Pillar of the Community
Canada
2784 Posts |
@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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Replies: 20 / Views: 1,448 |
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Posted 02/26/2021 11:49 am
