What A Generous Offer! - Page 2 - Coin Community Forum

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Author	Replies: 21 / Views: 4,323	Page: of 2

Universalcoins Valued Member Canada 147 Posts	Posted 09/22/2015 11:20 am I can't really complain about someone doing business like this, because I only offer 50% of the face value. Being in Ottawa, I always urge people to try to redeem them at the bank (I've heard TD and RBC are regularly taking them here). If that doesn't pan out, I tell them to take them to the Mint boutique and redeem them for in-store credit, pay a small admin fee and take rolls of loonies and toonies. I'd rather be an option of last resort or for the people that just don't care. Report this Post to the Staff
john100 Pillar of the Community Canada 5324 Posts	Posted 09/22/2015 4:22 pm I don't want to be too critical of one's business practice, but offering 50% for these 20 for 20 is akin to offering 50 cents on an old dollar bill, they are hard to use at many businesses but the well informed is just take it to your own branch to exchange or deposit, but as you say they don't care what can you do. There must be many collectors who seems to have no bank accounts. Report this Post to the Staff
Universalcoins Valued Member Canada 147 Posts	Posted 09/24/2015 12:22 pm You're not wrong. And when I'm stuck with a glut of nickel dollars and halves, I do tell them that I pay less than the face value -- I'm very upfront about it and encourage other avenues first. Report this Post to the Staff
john100 Pillar of the Community Canada 5324 Posts	Posted 09/24/2015 12:56 pm The 5 big banks about 2 years ago started to charge a 1/4% fee on currency deposits in current accounts and for years charged some fees on coins. If you are obviously upfront with offers what more can you do. Report this Post to the Staff
unruhjonny Pillar of the Community Canada 514 Posts	Posted 10/02/2015 1:28 pm that add is terrible, and IMHO shows the bad side of collectors who are willing to make a buck on people who are in a bad spot, or by preying upon their ignorance. I bought the fisrt couple issues of $20 for $20 because I liked the idea of a $20 face value canadian coin (which should never be worth less than face value) being made of silver - which also had value. I did stop buying them though - especially considering that there is more silver content in a 1967 & prior silver dollar. Report this Post to the Staff
Stephen Z Valued Member United States 123 Posts	Posted 10/02/2015 2:12 pm Thanks for clearing it up, I didn't know what $20 for $20 was. I've got to say I don't like those designs with Bugs Bunny, etc. Almost as bad as the ugly Presidential dollars. Report this Post to the Staff
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