Royal Canadian Mint Cancels $200 For $200 Face Value Coins For 2016

Yeah too bad that some who flouted the program ruined it for all the rest.

But I also have a strong hunch that RCM isn't disclosing the whole story - especially the higher denominations of XforX have to be a prime target of counterfeiting, a far more lucrative means of fraud than selling Superman sets on ebay. RCM has taken great lengths to implement Counterfeit Detection knowing Cdn currency has historically been prone to fraud, then issues $100 and $200 with absolutely nothing more than instructions for redemption arrangements....crazy! This really should be an embarrassing gaffe, but of course the story will go untold.....

If that's the case, couldn't the mint simply have the XforX coins not count for Master Club status; I think there's more to this story.

The higher priced x for x coins served very little purpose for the RCM to attract first time collectors as mentioned the RCM probably thinking about the counterfeit issue. Also it goes against all logic of the bank of Canada withdrawing high denomination bills and the RCM creating these coins.

Hope, even after some next steps, it still will be legal to keep XforX in private collection

Wasn't me. I think it was wildflowerAB that first noted the 8.7M adjustment on these pages.

BTW, when you cash these things in, doesn't the bank take your information (ID, account number etc.). Wouldn't that paper and electronic trail make counterfeiting a whole lot more difficult for these coins than say widely accepted $20 bills or fake collector coins that rarely make it back to the RCM for verification?

In a perfect world, you're right. But with any type of fraudulent crime, the culprits tends to pounce on the most junior employees who they think they can most easily intimidate, threaten to get fired,or what not. Other times fraudsters go to great lengths to appear to be a regular customer with a newly opened account, just relocated, friendly, chatting it up with the tellers, all part of the set up that goes on for months. Crime plots rarely are put into action overnight. Bam, gone never to be found. That's because fraudulent ID is huge as well. It's become commonplace to read of busts whereby 100s of fake ID are confiscated. Those fake IDs were created for a purpose. Financial fraud is so common and there's so many various schemes that it just makes one sigh and wonder how it came to be that ripping people and places off has become an industry.

It wouldn't surprise me in the least that businesses are also hit. TFW combined with "Canada" and $100 or $200 printed on a coin? For those who aren't familiar with NCLT, for all the world it looks like Canadian money.

If legitimate coins are cashed without requirements that the packaging/COA be turned over (a big oversight that's not a part of RCM email instructions, in my opinion), I'd also bet if a counterfeit coin was packaged up, even an experienced employee would hardly bat an eye.

So my opinion of course, but I think the counterfeiting and redemption of XforX is extremely significant. If the mint really wanted a solution, as others have mentioned, just remove the eligibility from MC attainment...or end the free shipping or charge an add-on of even just 10% to make is less lucrative for credit card incentives. No, they chose not to do that. Says to me there's more to it. Fraud.

Possible I guess. I just haven't seen any x for x counterfeits being reported here or anywhere else. Maybe they exist and I've just missed them. Or maybe they are about to surface in big numbers. Dunno.

RCM has never released redemptions #s other than total dollar amount that includes not only XforX redemptions for all demoninations, but all other NCLT returned products as well.