Where Is The May 2016 RCM Face Value Issue Of $200.00 For $200.00?

@ Coinplus Your question might best be asked of RCM. But just a comment, RCM has never guaranteed redemption of XforX. What they've stated:



Particularly when it pertains to financial affairs, quite some time ago I learned the importance of reading the fine print, not making assumptions and mostly that anonymous opinions on the Internet are worthless.

Life poses many hassles that are entirely out of one's control. So for me, if the inabilabilty to easily obtain face value of XforX in the future would be a significant concern, I'd cash them in now to eliminate the possibility of it causing me stress in the future.....sort of like sweeping the road clean, up ahead...

On the topic of Class Action Lawsuits - although popular in the US where anyone can file one, including the guy from NY who began the Coinstar lawsuit by claiming he was shortchanged by $1.51, the laws in Canada are totally different. I challenge anyone in Canada to go talk to a lawyer and put forth the possibility of a class action lawsuit because someone has ripped you off $1.51.

Aside from that, the sort if folks who might be saving XforX as an emergency cash stash are the ones who can not afford to wait years for a refund even if a class action lawsuit was filed. The threat of a class action lawsuit to a Crown Corp is about as meaningless as a mosquito on a horse. So what, if it came to pass and RCM lost years down the road they are forced to redeem coins they previously sold and so the federal govt hands over a pile of cash because there's no way a Crown Corp can file bankruptcy unless our entire country is also bankrupt. And how would this money be raised? Taxes of course, that ought to bide well with the public of which 99% probably never heard of XforX, in addition to the increasingly common masses of people who believe that anyone who has enough money at the end of the month to save (or waste on something so stupid as collector coins) must be wealthy...

I am by no means defending RCM but holding out only because people might be led to believe a class action lawsuit will offer some sort of future protection - totally unrealistic in my opinion.

LL.B?

I mentioned class action mostly as a joke because some other frequent posters say it over and over (notice the winkie?). Maybe it was just for me because of my past life in the industry. lol.




Agreed.

Missed it.

John, how about an example of a Class Action Lawsuit EVER filed against a Canadian Crown Corporation?

Canada Post would be a good example - lost mail, poor service, removal of home delivery, price gouging(cost)....surely some smart lawyer could have figured out an injustice by now?

@john100

Native Residential Schools is in a totally different category. I cannot remember any class action lawsuit filed against any government crown corporation when it comes to "Money" matters. If anyone reading this topic has, I really hope you post it for all of us to read.

The regular NCLT coins silver has to tank below 20.00 before some one even think of redeeming, if you don't agree the x for x coins were marketed as risk free exchanges, you just have a different opinion on the RCM's marketing, all I'm saying is if the RCM follows the UK model of no redemption due to the amounts sold and other reason some smart lawyers will want 1/3 of the 200 million or so sold already. The Native school class was against Canada, no one is above the law, as for last comment the RCM has a 30 day return policy, there's no inferring of future value on regular NCLT

I love the last line for the first release which doesn't seem to have been repeated for later issues. Definitely implies a reciprocal agreement and equality with Canadian Currency.

Not everyone buying the X for X coins however, is playing games trying to up their status or using the purchases to maintain their current one.

I like most collectors bought a $200 for $200 when they first came out. Afterwards reality set in and I realized it was not a good fit with my collection and far too expensive a series (albeit very nice designs) to hang on to.

Guessing this has and will be repeated many times. Seems the honeymoon is over.

I traded mine towards a 2015 Proof Set in Halifax and will probably do the same with a few of the $100 for $100 coins.

Hopefully recent events won't have any impact at the Ottawa RCNA Convention RCM Booth or Mint Boutique next month.

I'm only a few purchases away from platinum status but if I buy what I want now, I won't have anything to redeem the X for X coins on.

Considering that next year is Canada's 150th, it would be nice to have platinum status and extra notice to take advantage of what is sure to be a record year for NCLT coins.