Newest Canadian "Exchange $20 for $20" Coin Out Now

I just saw my pre-order email saying that it will ship soon, but it was sent 4 days ago.
The theme is Farewell to Cent, commemorating the end of the cent being minted.
http://www.mint.ca/store/product/co...rod1510001&rcmiid=20x20home_farewell_penny_en
Anybody getting one (or two or three)? I did the subscription order for these last two (the Diamond Jubilee and this one).

 

Log in or Sign up to hide this ad.

Thanks for the link, I just ordered 3 coins :yes:

 

I will probably order a coin. I like the series, well most of it anyway. The maple leaf was good, the canoe was outstanding and the polar bear was very good.

I didn't get the jubilee coin. It's bad enough that Queenie has to be on every Canadian coin, but having her mug on both sides of a coin; well, my stomach just couldn't handle it.

 

Too bad it really isn't worth $20.

 

Well, it's got a $20 face value, so it'll always be worth that. Yes, there was that nonsense a little while ago where the guy couldn't cash these in at the bank, resulting in some double-talk from the mint. I still think that's bogus. However, I'd be very surprised to see the value on these paid by collectors go less than face. I think it's a neat series.

 

Not bogus. A retailer would never take them. Banks in Canada won't give you a nickel for it. A number of folks on a Cdn coin website tried and failed to cash them at banks. I talked to a Cdn mint rep about it yesterday and he said the same thing banks won't honor them.

 

Really? I'd rather see her old carcass than these political feebles we have on American coinage.

 

Only if you can spend them. If you can't and it loses its numismatic premium it is just worth its scrap value.

 

Yeah after finding out that retailers nor banks have any real obligation to accept these coins for there face value I'm not going to bother ordering the rest; shame because I actually like the design on this one.

 

The whole argument the Canadian mint gives revolves around this made up definition of "legal tender" vs. "circulating legal tender." It's bogus, and if it were challenged in the courts, I bet it'd come out the right way.
However, the fact is, just become something is legal tender doesn't mean somebody has to accept it. Retailers or banks can refuse to accept these coins just as they can refuse to accept quarters. Sometimes they do. My old bank only lets you turn in 10 rolls of rolled coin per day, they refuse the rest. Some stores refuse to take $100 bills and that's their right to do so.
It doesn't mean any of these items are no longer legal tender.

 

These are not worth $20 if everyone refuses to accept them. No one recognizes these as currency. NO bank accepts these. Until you can name banks that do, your argument is moot.

 

How much do they weigh?

 

Well, I'm in the US, so I can't go to banks and try to deposit one of these. But I feel like I could probably find a bank that'd accept a $1 deposit in the form of an ASE.
Just because a business doesn't want to take it (i.e. a bank), doesn't mean that it's not legal tender and doesn't have a face value of what is shown on the coin. That's all I'm saying. Perhaps in practice, you'll find people who won't take money they aren't familiar with. You could try to spend a handful of large cents and somebody may not take them because they are unfamiliar with them. It doesn't mean the coins aren't legal tender, just because some goof won't accept them.
It's a pointless argument though. It doesn't matter either way, as I will not be purchasing these $20 coins with the intent to spend them.

 

1/4 Ozt. or thereabouts.

 

Some 'goof' is every business and bank in Canada. LMAO.

 

If I had my choice, I'd like to see none of the above on coinage. My preference leans toward symbols of what a country is all about and that is certainly not politicians and monarchical welfare cases.

 

LMAO eh? That's a lot of laughing. So you've tried to spend a handful of large cents then? Since that's the part you quoted?

I have no way to verify any of this in person, without driving to Windsor, and I don't feel like doing that. I haven't crossed the bridge or tunnel since I've turned 21 and I don't want to anytime soon. So I guess I'll drop it for now. Next time I'm in Windsor, I'll try to spend one of these. But until then, I'm done.

Bummer this thread went this way. I was just trying to point out these are available now, for those (like me) who enjoy this series. Oh well.

 

Why don't you try sticking to the one coin you posted about? The $20 one. Instead, you've brought up examples of banks or some random business not taking large multiples of rolled coins, $100 bills, large cents, quarters, ASE, etc. None of these have anything to do with the $20 coin mentioned in this thread.


Other than a few collectors, no one else would give you face value for it. My point is that a number of people that originally wanted this coin, don't want it anymore because it isn't reedemable at face. If it doesn't bother you, fine. It is an appropriate thread to let prospective purchasers know they can't even cash them in at a bank, let alone a Tim Hortons or some other business. It may help them in their decision to buy or not to buy it.

 

The definition of what legal tender is, is quite different in Canada.

http://en.wikipedia.org/wiki/Legal_tender#Canada

In the 1980s, many Canadians wanted to spend and/or deposit in banks their silver 1973-1976 Olympic coins with face values of $5 and $10. The price of silver had dropped way, way below its US$50 high. Canada's money center banks refused the silver coins. Merchants did the same in many cases. Many years later, the Royal Canadian Mint created a coin buy-back program that drew down the surplus of unwanted silver Olympic coins.

 

Exactly like the OP's $20 coin! Uncashable!