Expired Hot Deals

[Royal Canadian Mint] $100 for $100 + FS

  • Last Updated:
  • Jun 22nd, 2014 7:06 pm
Sr. Member
Aug 17, 2009
552 posts
36 upvotes
fredsmith wrote: CIBC World Elite Dividend Unlimited.
In case Nominee or others are interested. The cashback for this card is Tiered.

2.0% cash back on your next $15,000 in net annual card purchases (between $35,000 and $50,000)

2.0% on regular purchases did sound too good to be true.

https://www.cibc.com/ca/credit-cards/ca ... rcard.html (for full details)

so its an UP TO 2%. OP could very well spend $35k+ per year then buy this at $100 and get his $2 "free" in cash back
or he may not realize his card is up to 2% not guaranteed 2%
Sr. Member
User avatar
Feb 19, 2006
910 posts
181 upvotes
Richmond Hill
I see why people buy coins, because they look great. Not so much those that OP posted.
bman104 wrote: We are starting to hear more and more stories of counterfeits on ebay.
I bought these 2 high end coins from ebay. The $25 peanuts gold coin was listed on mint.ca, then sold out very quickly. First time I'm seeing the $50 gold coin. To me this is a hot deal as I've been looking and no one else sells them.

http://www.ebay.ca/itm/400692687578?ssP ... 1497.l2649
http://www.ebay.ca/itm/351043363158?ssP ... 1497.l2649

FYI:
Best offer was accepted for the $25 gold coin at $650 USD
Best offer was accepted for the $50 gold coin at $1300 USD
Deal Addict
User avatar
Sep 4, 2007
3055 posts
1611 upvotes
Canada
websurfer wrote: I see why people buy coins, because they look great. Not so much those that OP posted.



I bought these 2 high end coins from ebay. The $25 peanuts gold coin was listed on mint.ca, then sold out very quickly. First time I'm seeing the $50 gold coin. To me this is a hot deal as I've been looking and no one else sells them.

http://www.ebay.ca/itm/400692687578?ssP ... 1497.l2649
http://www.ebay.ca/itm/351043363158?ssP ... 1497.l2649

FYI:
Best offer was accepted for the $25 gold coin at $650 USD
Best offer was accepted for the $50 gold coin at $1300 USD
Now that is actually low mintage - limited to 2000 for the $25 and 1000 for the $50...
Member
User avatar
Sep 22, 2009
300 posts
183 upvotes
Can we just agree that this is not, in any way, a "hot deal"? It's just a nice collector item and/or an investment opportunity that could (or could not) be profitable?

And, if we can agree on that, maybe the thread should be moved in the "Personnal Finance" section?
Deal Expert
User avatar
Nov 28, 2013
16924 posts
6698 upvotes
Oakville
TheCurse9 wrote: Can we just agree that this is not, in any way, a "hot deal"? It's just a nice collector item and/or an investment opportunity that could (or could not) be profitable?

And, if we can agree on that, maybe the thread should be moved in the "Personnal Finance" section?
Agreed. Regular price is not really a "hot deal". Whether or not this will turn out to be a good investment, over time, is debatable. If it was a $100 coin for $75, then it would absolutely be a hot deal. :)
Sr. Member
User avatar
Feb 19, 2006
910 posts
181 upvotes
Richmond Hill
wearysky wrote: Agreed. Regular price is not really a "hot deal". Whether or not this will turn out to be a good investment, over time, is debatable. If it was a $100 coin for $75, then it would absolutely be a hot deal. :)
You know they had that right. Back when the US dollars was 80 cents Canadian. You could have traded in Canadian dollars for US dollars. A lot of people did just that. I just wasn't one of them.
[OP]
Deal Addict
Aug 16, 2003
3213 posts
634 upvotes
Earbuddy wrote: In case Nominee or others are interested. The cashback for this card is Tiered.

2.0% cash back on your next $15,000 in net annual card purchases (between $35,000 and $50,000)

2.0% on regular purchases did sound too good to be true.

https://www.cibc.com/ca/credit-cards/ca ... rcard.html (for full details)

so its an UP TO 2%. OP could very well spend $35k+ per year then buy this at $100 and get his $2 "free" in cash back
or he may not realize his card is up to 2% not guaranteed 2%
OP knows perfectly well how the card works and has two of them because it pays me to.
[OP]
Deal Addict
Aug 16, 2003
3213 posts
634 upvotes
GiOBoY wrote: Selling them on eBay is already tough, now you gotta convince the buyer they are legit?! Pffft...

Well there you go... another reason not to buy it! lol
Why in the world would you sell them on eBay when there are specialty sites, shows and dealers where you get to deal with your provider face to face? And, in any case there is eBay's guarantee and that of your credit card that will assure the buyer of the validity of the item, though it DOES mean that if you buy coins on eBay (or anywhere other than the mint itself, I suppose) you'd better get them checked for authenticity.
[OP]
Deal Addict
Aug 16, 2003
3213 posts
634 upvotes
websurfer wrote: You know they had that right. Back when the US dollars was 80 cents Canadian. You could have traded in Canadian dollars for US dollars. A lot of people did just that. I just wasn't one of them.
Or, you could have bought Canadian dollars when it was 80 cents and watched as it value sank to as low as 61 cents or US dollars and lost when it went up to $1.10 PLUS your conversion costs of about 2.5% for each trade . . . . . there is no such thing as a sure bet when there's no floor.
[OP]
Deal Addict
Aug 16, 2003
3213 posts
634 upvotes
websurfer wrote: I see why people buy coins, because they look great. Not so much those that OP posted.



I bought these 2 high end coins from ebay. The $25 peanuts gold coin was listed on mint.ca, then sold out very quickly. First time I'm seeing the $50 gold coin. To me this is a hot deal as I've been looking and no one else sells them.

http://www.ebay.ca/itm/400692687578?ssP ... 1497.l2649
http://www.ebay.ca/itm/351043363158?ssP ... 1497.l2649

FYI:
Best offer was accepted for the $25 gold coin at $650 USD
Best offer was accepted for the $50 gold coin at $1300 USD
Of course the melt value AND the face value are a fraction of the price you paid (hopefully not counterfeit, based on what has been suggested here), so there IS lots of room for the value of the coin to fall - no such risk with the 20 for 20, 50 for 50 and 100 for 100 coins.
Jr. Member
Jan 12, 2011
151 posts
46 upvotes
Hawkesbury
Once banks are aware of the redemption process are they obligated to accept them ?
[OP]
Deal Addict
Aug 16, 2003
3213 posts
634 upvotes
Here is the information from the FAQ at mint.ca:

Can I redeem a collector coin at a bank or use it as currency to purchase goods or services?

All coins manufactured by the Mint are legal tender. However, unlike Canadian circulation coins, collector coins are non-circulating legal tender (NCLT). As such, these coins are not intended for daily commercial transactions and accepting them as payment or for redemption is at the discretion of businesses and financial institutions.

The Mint has a process in place to reimburse financial institutions the face value of redeemed NCLT coins, once they have accepted them from a customer and returned them to the Mint. In the event a bank branch is unaware of this procedure, customers are advised to contact the Mint with the coordinates of the bank branch, which will take steps to inform the branch of the redemption process.

As collector coins can only be redeemed at face value by businesses and financial institutions willing to accept them, it is recommended that individuals wishing to sell a collector coin first consult with a coin dealer, who is more likely to offer a price above face value.

-------------

So the answer is 'no', but if you bank with the branch they are likely to if you speak nicely with the manager. But if a coin has value a dealer will likely take it off your hands, possibly at a profit to you . . . . .

It is, however implied in the FAQ's that you can also bring your coins straight to them for redemption . . . . . but they aren't exactly located on every street corner, they're located in Ottawa, Winnipeg and Vancouver.

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