The Royal Canadian Mint has responded to an earlier article by Canadian Coin News on legal tender, assuring us that a system is in place to redeem them, but you have to force your bank to do some homework.
“There is a process in place with financial institutions to take Canadian collector coins and exchange them with customers at face value, though this has always been a voluntary arrangement,” Mint official Alex Reeves told Canadian Coin News. “If customers have difficulty exchanging a collector coin at a bank branch, it’s best to ask their branch to contact their head office for clarification.”
This is the sort of assurance that collectors have been looking for, and while Reeves added that the Mint will be “re-communicating with financial institutions” the word may take some time to get down to the branches.
The response is the subject of second front page article in the next issue of Canadian Coin News, to be released Sept. 16.
Feel free to share your experiences cashing legal tender coins, either by commenting here, or in the general discussions section of the forum at http://canadiancoinnews.com/forums/topic/legal-tender-redemption/