Opinions On Future Of $20 For $20 Series

I hope that the motivation for this is simply the removal or reduction of a liability from the government books. I can't imagine, given the bills in question that these are used in daily commerce. I don't believe that ownership will be illegal, just the ability to use them as currency.

I know that most governments would be happier if they could deprecate currency (bills & coins) all together as it makes it much easier to control the money supply, diminish the impact of counterfeits and severely damage the underground economy that tries to avoid taxation. It was that motivation that caused the Indian government to demonetize the 1,000 and 500 rupee bill with a few days notice back in 2016.

It does remain to be seen what the impact of this decision will be on overall values of the higher denomination bills. The $1,000 bill while still currency, will never be worth less than $1,000 so that sets a floor value. Once demonetized, it will only be worth what someone is prepared to pay... Sort of like baseball cards... no intrinsic value. Bringing the conversation back to the original post, if the $20 for $20 were demonetized then they would only be worth $5 or so given the silver content.

Re: India, As I understood the argument at the time there was a good deal of currency available in India and many transactions were cash only. Removing the 1,000 and 500 rupee coins forced the larger transactions to either use large numbers of 100 rupee bills or to go through a bank account which allowed the government to track the transactions and if appropriate follow up for their share of taxes (sales, income etc.). For reference, at the time a 1,000 rupee bill was worth $30-$35.

The UK regularly demonetizes old bills but that is to remove counterfeits from the supply.

The Canadian removal of old bills doesn't make that much sense. The bills in question are not in current use, most merchants would probably reject a $1,000 bill even though it is legit so there is little market for counterfeits of these bills. The only rational reason, outside of a make work project for someone is to release the liability. An earlier poster indicated there were over a million $1,000 bills still in circulation. If true, that is a billion dollars. Governments have in the past done goofier things for lower returns. Not sure the math extends to $1, $2, $25 etc.

@JGG
It all depends. If we continue on the current path of evolution (software, internet, electronics, digital currency) then cash is out for sure. On the other hand if a zombie apocalypse or an alien invasion were to occur then perhaps this trend could be slowed down a bit.

I have continued:

2017 $3.00 ¼ oz 9999 Ag - Toronto Maple Leaf 100th
2017 $3.00 ¼ oz 9999 Ag - Vimy Ridge 100th
2017 $3.00 ¼ oz 9999 Ag - Spirit Of Canada
2017 $5.00 ¼ oz 9999 Ag - Proudly Canadian
2017 $3.00 ¼ oz 9999 Ag - Heart Of Our Nation

I ordered the 3-coin subscription for 2018.

@ barriecarson

The retail price for each coin sold through the RCM are 19.95 for each coin.

I enjoy the $200 for $200 series. I have duplicate of the towering forest that I picked up for $190. Why would someone sell a $200 coin for $10 less you say.. Well, because VIP RCM members get $10 off. I myself as a non VIP buyer, have gotten some $10 off your next purchase e-mails. It doesn't stop there, if you spend over $100 you get free shipping.
Many people bought these buy the loads with VISA's that give you points for purchases and now are selling them for the cash back, they first were returning to banks until the banks realized something was up and now put up a stink if you try.

That said I'm still looking to finish my $200 for $200 collection. I'm missing the Icey Artic coin, hoping to trade my duplicate towering forest for it.

Latest instalment: $5 X $29.95



Not my best shot... in the dark: