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2021 Renewed $2 - 2 Ounce Silver Coin - Gold Plating

 
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Author Previous TopicReplies: 13 / Views: 669Next Topic  
Pillar of the Community
Canada
1261 Posts
 Posted 04/21/2021  1:41 pm Show Profile   Bookmark this topic Add Dcadon to your friends list Get a Link to this Message
A new coin released today to the upper Master's Club members is a recreation of the 1996 'Twonie' (25th anniversary) showing a solitary polar bear on an icy backdrop. Like the original, it is two colours. Silver for the most part, with 24kt gold plating where the yellow is.

It's description also includes the phrase "No GST/HST*" then below, it indicates *PST will be charged where applicable.

So, going back to previous discussions, I guess there isn't enough gold present to suggest it is any less than 99.99% pure silver. Though the 'Gold' coloured surfaces suggest if this is exempt, Should they have ever bothered to open that can of worms in the first place?
Pillar of the Community
Canada
2799 Posts
 Posted 04/21/2021  2:59 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply

Quote:
It's description also includes the phrase "No GST/HST*" then below, it indicates *PST will be charged where applicable.


The description is 100% correct. People who live in provinces that have PST always pay PST on GST/HST exempt coins. Nothing new here. In BC, I get charged 7% PST on GST/HST exempt coins.

So nothing to do with purity. People who are subject to pay PST pay PST. The is why it says "where applicable".
Pillar of the Community
Canada
917 Posts
 Posted 04/21/2021  3:15 pm  Show Profile   Bookmark this reply Add New1954 to your friends list Get a Link to this Reply
The first coin in the Toonie series is GST/HST exempt because the gold plating is 24KT? Could this be why it is tax exempt?
Edited by New1954
04/21/2021 3:16 pm
Valued Member
Canada
460 Posts
 Posted 04/21/2021  7:29 pm  Show Profile   Bookmark this reply Add vonigohcr to your friends list Get a Link to this Reply

Quote:
Should they have ever bothered to open that can of worms in the first place?


I am not sure that the RCM had a choice. Like most manufacturers, I would imagine that if they could conduct their business without taxes, then they would be happier. Taxes only reduce the size of a given marketplace for a given product... or impact margin on said product.

I would imagine, they asked the CRA to clarify the rules for GST/HST... or the CRA came knocking and told them the rules... and now they are playing to the rules and looking for all of the exemptions they can find.

So the advertising on this coin is that it is a new series that will replace the "Renewed 50c". This is the 2006 Churchill reverse... expect to see the Knowledge and Nunuvut coins.. it will be interesting to see though if they go for any of the other $2 coins... Quebec City in 2008, 2011 Boreal Forest, 2012 HMS Shannon then from 2014 on, there seems to be a commemorative $2 every year... Also, I wonder if they will renew any of the 6 specimen "Young animal" series.

Don't misunderstand... I like the idea of large format coins but for heavens sake, there are original designs out there. The whole "Renewed" thing started with the large format of the Voyageur dollar... which carries all of the nostalgic draw for one of the most enjoyed designs.. I wonder if they had started with the renewing the 1994 memorial dollar whether this series would be quite as well subscribed.
New Member
United States
28 Posts
 Posted 04/22/2021  09:52 am  Show Profile   Bookmark this reply Add jaymiles7 to your friends list Get a Link to this Reply
I logged in today and saw this and was originally thinking "eh". But now that you mention the path you suspect they'll go down, I think I might get it just to have the whole lot.
Luckily I don't have to worry about any of the taxes. Unfortunately, I don't get free returns and if I don't like it I have to consider the idea of holding onto it and growing to like it or cutting losses on eBay.
New Member
Canada
10 Posts
 Posted 04/22/2021  12:36 pm  Show Profile   Bookmark this reply Add PePiEe4 to your friends list Get a Link to this Reply
Just curious, anyone going to buy this coin or everyone feeling this is overpriced?
New Member
United States
28 Posts
 Posted 04/22/2021  12:51 pm  Show Profile   Bookmark this reply Add jaymiles7 to your friends list Get a Link to this Reply

Quote:
Just curious, anyone going to buy this coin or everyone feeling this is overpriced?

Yes, and yes. Only because I want the 2008 and I'll have FOMO if I don't get the whole set.
Valued Member
Canada
497 Posts
 Posted 04/22/2021  12:52 pm  Show Profile   Check jimper's eBay Listings Bookmark this reply Add jimper to your friends list Get a Link to this Reply
It's now at 81% SOLD. Will probably sell out very soon.
"If you lose it here, you're in a world of hurt"
New Member
Canada
10 Posts
 Posted 04/22/2021  1:02 pm  Show Profile   Bookmark this reply Add PePiEe4 to your friends list Get a Link to this Reply
Hi Jimper: Agreed, all of these coins sell out quickly. Still curious, worth buying or overpriced?
New Member
Canada
4 Posts
 Posted 04/22/2021  2:46 pm  Show Profile   Bookmark this reply Add MikeyMouse to your friends list Get a Link to this Reply
I think they would still be worth buying. The Masters club coins with Mintage of 2200-2500 all have been selling for a premium on eBay whereas the ones with a Mintage of 4000 haven't.
Pillar of the Community
Canada
2799 Posts
 Posted 04/22/2021  4:01 pm  Show Profile   Bookmark this reply Add MoneyPenney to your friends list Get a Link to this Reply
It's a can't miss coin since it is first in series, low mintage, and great design. It could easily sell for double or triple issue price as we saw with the first Renewed Silver Dollar.

People who missed out on the first coin while getting the second, third, etc. will keep the price of this coin high in the secondary market.

As for being over priced, all RCM coins have jumped in price. 5 oz coins usually are sold by the RCM in the $500-$550 range. Recently, the RCM has priced 5 oz coins at $649.
Edited by MoneyPenney
04/22/2021 4:04 pm
New Member
Canada
10 Posts
 Posted 04/22/2021  5:40 pm  Show Profile   Bookmark this reply Add PePiEe4 to your friends list Get a Link to this Reply
Thank-you for your feedback and opinions. I appreciate them.
Valued Member
Canada
113 Posts
 Posted 04/22/2021  5:58 pm  Show Profile   Bookmark this reply Add Tender4848 to your friends list Get a Link to this Reply
No mention in any of the previous posts, BUT did anyone notice there is no Wooden display case as in ALL of the other renewed Silver Dollars and Fifty Cent Issues.

RCmint indicates it will come with a black clamshell case and a Graphic Box.

Price increases $20 and no wooden case, just ruined my display case with a black clamshell
Valued Member
Canada
497 Posts
 Posted 04/23/2021  12:46 pm  Show Profile   Check jimper's eBay Listings Bookmark this reply Add jimper to your friends list Get a Link to this Reply
Congratulation's to the people that had a chance to buy the 2 oz. Pure Silver Coin - Renewed Silver Toonie: 25th Anniversary of the $2 Circulation Coin. It is now Sold Out.
"If you lose it here, you're in a world of hurt"
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