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Thread: 20 for 20 coins are NOT accepted at Canadian banks!

  1. #101

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    Quote Originally Posted by orestrus View Post
    I regret that i decided to contact the Star. This article made me look like a complete fool
    No offense, but you couldn't have assumed this would go any other way...like shedding you in light of a pioneer of honest money and the RCM in bad light.. not going to happen. The MSM and Gov. Entities are not on our/your side..and there is no going to war with them unless you have mega $$, a lot of time, and a wizard of an attorney. It sucks your name is now out there like that. I know your not in the US, but I'd be worried here of potential IRS audit or other unwanted attention due to the fuss caused.

    I however as a stacker do applaud you for bringing this to light. Whomever is right and/or however it gets spun this just shows that face value/gov. minted bullion are not what we consider them to be...legal tender.

    Browse: Coles this week and Iga Catalogue on Catalogue AU.

    What I'd like to know now is that since it is legal tender and able to be accepted for those whom wish to accept it..what happens next. Say you take those coins to the streets and spend them as face value..(which many would accept because they are face value legal tender coins)..... are they not then circulated coins? If not.. what defines a circulated coin? Are those merchants then **** outta luck because they accepted a legal tender coin and now unable to deposit? According this this article - Yes.


    All the more reason we should all be stacking straight up bullion and boycott these "coins" that governments are stamping with face values.
    Last edited by jdourekas; 11-13-2020 at 05:45 PM.

  2. #102

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    Quote Originally Posted by HighInBC View Post
    When they finish the series I will sell "full sets" that lack that particular coin.

    Why do you need the same face on both sides?? I doubt anyone will miss it.
    If i would have those coins I would sell them right now when price is still atractive (on Ebay) and money earned invested in plane 1 oz maple leaves. I am sure in coming years those coins will not increase in collector's value more than POS.
    Everything I write in my posts is just my opinion.

  3. #103

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    Quote Originally Posted by SILVERisSilver View Post
    Incorrect. Paying for goods is paying a debt. You're taking the term debt according to YOUR definition. A debt is something owed in return for goods or services. If he purchased goods from you he needs to settle his debt by paying.
    Are you sure about that?

    I think you're spinning the term to fit your definition. There is no debt as the goods have not yet been taken and no terms (see payment method) has been arranged. The vendor must agree 1st.. in which he can accept or refuse your legal tender.

    By definition.
    A debt is created when a creditor (store merchant) agrees to lend a sum of assets (goods) to a debtor (store customer).

    Before a debt can be made, both the debtor and the creditor must agree on the manner in which the debt will be repaid, known as the standard of deferred payment. This payment is usually denominated as a sum of money in units of currency, but can sometimes be denominated in terms of goods or services. Payment can be made in increments over a period of time, or all at once at the end of the loan agreement.
    If a merchant refuses your "payment" for goods you've not yet received then no debt has been created... he would still have to agree to said exchange/payment method for it to be considered a debt. Your spinning the transaction around as if the merchant doesn't have a choice in the payment method/terms in which the debt will need to be paid after an agreement has been made. This is incorrect... the merchant has the power here to accept or deny your payment before a debt is established.

    Don't take my word for it... go try to buy a flat screen with pennies.. go try to buy a new car with 1 dollar bills. They have the choice to accept or deny your payment. You dont own or are in debt to the merchant as you set the goods on the counter.
    Last edited by BullYonAir; 07-05-2012 at 07:59 PM.

  4. #104

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    Quote Originally Posted by orestrus View Post
    I regret that i decided to contact the Star. This article made me look like a complete fool
    nonsense. youve added a great service to the forum. im sure everyone was under the impression that these (and maples) can be sold for face value with ease. now we know better and for that, we thank you.

  5. #105

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    Quote Originally Posted by BullYonAir View Post
    for all debts

    If its not being accepted to extinguish a debt then it can be refused. If you came into my store with your legal tender and tried to purchased $1500 worth of stuff in 1 dollar bills... I can tell you to get lost. Legal Tender or not I am not forced to take your money unless it is being used to settle a debt.

    Purchasing goods is not a debt.. depositing into a bank account is not a debt.


    At least that is what I got out of all of this..
    That's correct. So the best thing to do is place the debt on a credit card, then go into the bank and clear the CC debt using legal tender. I wonder how the bank would react in that situation.

  6. #106

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    Quote Originally Posted by PMStacker2011 View Post
    Just because a coin is legal tender, that does not mean a bank HAS to take it.

    In order for mints to be able to make collector coins, they must be legal tender, otherwise you have nothing more than a medal.

    But this does NOT mean a bank HAS to take it.
    I dont know about Canada but in the U S they do have to take it, canada may have the same law. Its what keeps the fiat system going, if not then stores/people could refuse the paper and only take silver. The paper system would crash.

  7. #107

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    by applying 20 bucks for a third of an oz of ag and applying 5 bucks to an Oz of ag. The RCM knows they screwed up Royally. Pun intended.

    I always kinda viewed bullion pieces as being an immediate currency the public could use if the shtf really did happen. That ain't gonna' make sense in Canada now.

    It is but it isn't is'nt much of an explanation. And redefining circulating currency is stretching also. Still I betcha' this is not going to go away. Hang in there!
    Its amazing that conservatives pine for the good old days that the previous progressives had brought about.
    I am a Liberal and I am standing my ground. My life is in danger and I will use what weapons I have and I will shoot back with accurate and truthful opinions.

    If you can't take it, don't give it.

    Jesus never asked a leper for a co-pay.

  8. #108

    Default

    Quote Originally Posted by BullYonAir View Post
    No offense, but you couldn't have assumed this would go any other way...like shedding you in light of a pioneer of honest money and the RCM in bad light.. not going to happen. The MSM and Gov. Entities are not on our/your side..and there is no going to war with them unless you have mega $$, a lot of time, and a wizard of an attorney. It sucks your name is now out there like that. I know your not in the US, but I'd be worried here of potential IRS audit or other unwanted attention due to the fuss caused.

    I however as a stacker do applaud you for bringing this to light. Whomever is right and/or however it gets spun this just shows that face value/gov. minted bullion are not what we consider them to be...legal tender.

    What I'd like to know now is that since it is legal tender and able to be accepted for those whom wish to accept it..what happens next. Say you take those coins to the streets and spend them as face value..(which many would accept because they are face value legal tender coins)..... are they not then circulated coins? If not.. what defines a circulated coin? Are those merchants then **** outta luck because they accepted a legal tender coin and now unable to deposit? According this this article - Yes.


    All the more reason we should all be stacking straight up bullion and boycott these "coins" that governments are stamping with face values.
    I agree. I understand his feelings and I aplaud what he did. Hopefully he opened many eyes to this "legal tender" scam. Hope much less people will buy future "non circulated legal tender" coins with huge face value and tiny amount of silver.
    Everything I write in my posts is just my opinion.

  9. #109

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    Quote Originally Posted by SILVERisSilver View Post
    I love when people quote Wikipedia
    I love it when people have nothing to refute.


    You have a problem with the definition of debt and how one becomes indebted to one? Your definition is that you are in debt to the merchant as you are carrying goods up to their counter thus them having to accept your legal tender?



    .
    Last edited by BullYonAir; 07-05-2012 at 08:08 PM.

  10. #110

    Default

    Quote Originally Posted by SILVERisSilver View Post
    I believe I did refute it. Just saying that Wikipedia is hardly Gospel. That's all, nothing more. If you thought my statement was an opinion, you quoting Wikipedia is nothing more than an opinion as well. If you don't like my definition or opinion as to what a debt is, that's fine, this is a forum. But to quote from Wiki isn't the say all and do all. Just saying.

    I must have missed it. I replied to your post because you stated my original post was incorrect and that I was making up definitions to the term...

    Debts are not made out of thin air with a merchant. A merchant has to agree to the term (aka. payment method).. in which they have a right to either accept or deny your legal tender.

    You called me out in regards to my definition of the term.. and then post your own opinion as to the definition.

    That is all.. sorry to drag it out.

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