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Volume 52 – #12

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Volume 52#12

September 23 – October 6, 2014

The $20 for $20 coins are popular, but difficult to spend.

Legal tender subtleties leave collectors and dealers scratching their heads

Nobody can argue about the success of the Royal Canadian Mint’s (RCM) face value program when it comes to selling coins, the problem seems to be when owners want their money back. When the first $20 for $20 coin came out in 2011, members of the public jumped at the chance to acquire a silver coin for face value. The issue sold out in just 29 days, despite limitations on how many could be sold to a single address. The coins, which contain slightly more than one-quarter troy ounce of silver, have an approximate bullion value of $7 at press time. That success led to a program that continues, and has now been expanded to $50 for $50 and even $100 for $100 coins, all proving popular sellers. In recent years, mintages have been lowered from the 2011 high of 250,000 to 200,000 in the most recent issue, but the coins always sell out in the year of issue. Continue reading →

Features
Numismatic stars shine at RCNA annual event
Page 1
Regina show to feature rare playing card money
Page 21
“King” sells at RCNA Mississauga auction
Page 26

Regulars
CCN Trends
Focus on Canadian twenty-five cents
Page 10
CCN Marketplace
Are you buying or selling?
Page 30
Show & Bourse
Check out the shows in your area
Page 33
Editorial
NCLT conundrum has a solution

I’m going to be honest, sometimes I shudder when I hear the words legal tender. The reason is because there seems to be a massive disconnect between what legal tender is, and what it actually means. It is subject of an article in this issue. To most members of the public it means that they can spend it anytime they want, or convert a legal tender coin into paper money. To the Royal Canadian Mint (RCM), it means that the coin has legal tender status under Canadian law, but it is not expected to circulate. To banks and businesses, it is at best a weird coin which has no place in the circulating coin distribution program. It is complicated by the fact that non-circulating legal tender (NCLT) coins are sold by the Mint, so people expect the Mint to stand behind them, in fact to redeem them for a cheque if submitted. That’s not what legal tender means in Canada.

Continue reading →

By Bret Evans
Columns
Mike Walsh
Corner Office
Passion drives numismatic community
Page 7
Stanley Clute
Ancient Money
Several rare coins struck following auction of Rome
Page 8

Ted Banning
The World of Money
Montreal collector had axes to grind
Page 16
John Regitko
Errors & Varieties
Many options for authenticating errors
Page 20

Tim Grawey
Colonial Tokens
Canadian origin hints abound for Sloop tokens
Page 22
Peter Mosiondz, Jr.
Collecting 101
Coins beckoned as job security wavered
Page 24

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