For years, folks could purchase face-value coins from the Royal Canadian Mint, deposit them into their bank account, and pay off their credit card. This was one of the easiest manufactured spend techniques in Canada. Unfortunately, as of yesterday, it appears that the Mint will no longer be selling face-value coins. This is a sad day for churners in Canada.
You cannot buy face-value coins off the Mint’s website, and according to a source, the decision to stop face-value coins was made January 4, 2017. Existing orders will be honoured, but no future orders will be taken. It’s not clear whether the Mint has stopped selling these coins at their boutiques.
To be honest, I’m not really surprised. I doubt the Mint was getting any real profit from their face-value line. Each online transaction paid through an affiliate link had a relatively large cost, the Mint reimbursed banks 2% of the deposit value AND shipping fees, and of course there’s the cost of designing, making, destroying, etc. these coins. My understanding is they were made to get Canadians into coin collecting, but I suspect this was always a loss for the Mint. Too bad 🙁
[…] miles via the US Mint died a long time ago. Apparently it’s now dead in Canada […]