So What Are Canadian Specimen Coins?

Here's where we get into a mix mash of descriptive terms. The Charlton catalogue of collector coins 2010 (volume 2) lists nine finishes the mint uses in an effort to drive sales.

The specimen finish is described as "Brilliant Relief Against a Parallel Lined Background"

Then they describe the specimen finish as first being used in 1979 on gold maple leafs. But if you flip to the page describing the the 1973 RCMP silver dollar, the finish is listed as specimen. Confusing.

Overall though specimen finish is used on the specimen sets starting in 1981.

I think that Charlton is wrong.

My take on it is that the finish on the 73 and up silver dollar is actually a proof finish because they started being made on equipment that was acquired for making the proof coins of the 1976 Montreal Olympics. I don't see the parallel lines on these dollars used to describe a specimen finish.

You can spend any Canadian coin that has a face value regardless of finish. You might have a hard time getting someone to take a 10 dollar Montreal Olympics coin, but it's value is ten dollars face nonetheless.

Key word there is legal tender. Does a chartered bank HAVE to accept a non circulating item? Yes they do. Does an individual or business have to ? No.

I recall the issue you stated with banks not wanting to take them, but by the same token, their charter is based upon acceptance and handling of all legal currency. In theory the silver value of a dollar bill wasn't a dollar either and they took those.

But in typical Canadian fashion it was left to hang until the problem solved itself with no clear definition from the Minister(s) responsible, the RCM or the BOC.

Also note that while the RCM is quick to quote specific legal acts that bolster their position, they are not so quick to quote ones that don't. That last quote is a policy statement but not a legal or lawful statement since the RCM does not set monetary policy.

Sorry, it's just one of those fascinating holes in Canadian policy.

Well that's the thing right, it would all come down to a court fight in order to settle it and who's going to do that? No gain in it. That's why it really wasn't settled the first time around.

Here's the flip side - they made that one million dollar gold coin. It's obviously a numismatic bullion coin. They have gone out of their way to make statements outlining that the value is backed by the Bank of Canada at 1 Million Canuck bucks. Love to see what would happen if the price of gold tanked and someone wanted the cash.

So, on the one hand they say numismatic items aren't worth face value and on the other hand they say they are. Shrug. I still figure they can say what they like but at the end of the day they don't actually make law.

The Montreal Olympic 5 and 10 dollar coins are the ONLY coins demonitized in Canada. info given by R.F. RCM

I never said the RCM demonitized it, that is where I received the info from. I also came across a referance on the BOC website while researching 'counterfeit" stuff.

Which brings up a question: I collect Canadian coins, sets Silver maple leaf, etc. Where is the line between, "coin of the realm", and the other 'coins", that are collected as coins?
I ask, because like in the stamp collecting hobby, the stamps are not "circulating if canceled, but the ones that are, are only, "pieces of paper", and won't buy a cup of coffee. So I collect COINS. When the chips are down, they will still buy, their face value is something. nothing like not "burning your bridges hehind you
when you pay out good money for them,(at face value).

If nothing more than just taking it to the bank, amnd cashing iy in, one stillwill hasve money to spend. (Less in figures, but cash, just the same). From what I have seen, any Canadian coin that hits the USD population's fingers, will eventually be turned in, either in a roll of the same size, or face value coins, and accepted for the value, here, rather than the exchange value. the bank just sends the rolled coinage to a Brinks, or other armoured car servive, that rolls the coins, and it it fits, it goes. I have found all kinds of Canadian coins in tyhe different denominations of rolls I search, so for me it either adds to my collection, or it gets spent, or returned in a roll. So I ask, where is the line?
Dick