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Montreal Canadiens Loonie - Message From RCM

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Pillar of the Community
Canada
2084 Posts
 Posted 04/02/2009  07:40 am Show Profile Check chequer's eBay Listings Bookmark this topic Add chequer to your friends list Get a Link to this Message

I received the following message from a representative from the Royal Canadian Mint when asked about mintages and distribution outside of the province of Quebec:


Quote:
Thank you for your question regarding the mintage and availability of the newly introduced Montreal Canadiens Centennial one-dollar commemorative circulation coin outside the province of Quebec.



The Mint has produced 10 million of these coins and I am pleased to inform you that the Mint has placed 2.5 million of these commemorative one-dollar coins into general circulation, in addition to distributing a large quantity through Quebec-based Metro grocery stores as of March 11, 2009. Please note that the mintage of this coin was driven by the need to carefully evaluate the number of circulation coins the Mint can produce on an annual basis, in order to prevent oversupplying the market. When dealing with high-value denominations such as one- and two-dollar coins, the market's ability to absorb new coins is understandably limited.



Although the Mint has enlisted Quebec's Metro grocery chain to ensure the rapid, effective and focused distribution of a limited-issue commemorative circulation coin in the part of Canada where it has the greatest impact, we have also taken care of reserving a reasonable volume for circulation in other parts of Canada. We appreciate your enthusiasm as a coin collector or a Montreal Canadiens fan, but we ask for your patience as you wait to look in your change or visit your local bank branches to find these coins.



I thank you for your interest in the Mint's newest commemorative circulation coin.


So, while a huge number will be snatched up by collectors, the amounts should be sufficient to obtain one at face to those patient enough, no matter what part of the country you are located.

Valued Member
Canada
384 Posts
 Posted 04/02/2009  08:16 am  Show Profile Bookmark this reply Add 1945V to your friends list Get a Link to this Reply
I agree with the RCM, that it has to plan its minting of higher denomination coins carefully.

However, it does not take a genius to see that there is nearly as many Montreal Canadians fans outside of Quebec as there is inside Quebec.

I have had countless friends from Ontario (and in particular Ottawa, the RCM's backyard) asking me to get them Montreal Canadians coins.
Pillar of the Community
Canada
1082 Posts
 Posted 04/02/2009  10:08 am  Show Profile Bookmark this reply Add WpgLwr to your friends list Get a Link to this Reply
I'm going to the Mint this morning to see if they have them there. Usually, they have a small quantity on hand at face...
Pillar of the Community
Canada
5910 Posts
 Posted 04/02/2009  11:28 am  Show Profile Check SHAFTA9a's eBay Listings Bookmark this reply Add SHAFTA9a to your friends list Get a Link to this Reply
Go.. LEAFS.. Go.
True North
Pillar of the Community
Canada
2084 Posts
 Posted 04/02/2009  11:52 am  Show Profile Check chequer's eBay Listings Bookmark this reply Add chequer to your friends list Get a Link to this Reply
Oh, goodness, I hate the Canadiens with a passion, but I hate the Leafs too
Valued Member
Canada
384 Posts
 Posted 04/02/2009  12:30 pm  Show Profile Bookmark this reply Add 1945V to your friends list Get a Link to this Reply
I did not know that Toronto had a hockey team.
Pillar of the Community
Canada
1082 Posts
 Posted 04/02/2009  1:01 pm  Show Profile Bookmark this reply Add WpgLwr to your friends list Get a Link to this Reply
It must be springtime! The Leafs are out...
Pillar of the Community
Canada
5910 Posts
 Posted 04/02/2009  3:05 pm  Show Profile Check SHAFTA9a's eBay Listings Bookmark this reply Add SHAFTA9a to your friends list Get a Link to this Reply
You wait until next year..
True North
Pillar of the Community
Canada
965 Posts
 Posted 04/02/2009  4:54 pm  Show Profile Bookmark this reply Add Topher to your friends list Get a Link to this Reply
Notice how they never really even answered your question. Typical fashion for the RCM.
New Member
Canada
12 Posts
 Posted 04/02/2009  8:03 pm  Show Profile Bookmark this reply Add thecanadianian to your friends list Get a Link to this Reply
according to the mint (http://www.mint.ca/store/mint/learn...ncy-1100028) in the past few years they've made, 44, 49, and 36 million loonies in 2006, 07 and 08 respectively.

10 million is a drop in the bucket. When I called the mint to find out if I could get the coins in Toronto they told me that I would have to buy a $45 roll and asked if I wanted to make an order. It really seems to me like the mint is trying to coerce collectors outside of Quebec into buying these at a huge markup.

It seems odd/wrong to me that they charge above face for what are essentially circulation coins that they don't release in most of the country.
Pillar of the Community
Canada
2084 Posts
 Posted 04/02/2009  8:07 pm  Show Profile Check chequer's eBay Listings Bookmark this reply Add chequer to your friends list Get a Link to this Reply
I'm almost certain from my conversations that some will be released outside of Quebec, but I don't know if it will be enough to satisfy the needs of collectors. I'm not paying the premium though.
New Member
Canada
12 Posts
 Posted 04/02/2009  8:24 pm  Show Profile Bookmark this reply Add thecanadianian to your friends list Get a Link to this Reply
the CSR at the mint told me explicitly (he put me on hold and said he spoke to his superior about it) that they were only being released in Quebec and that if I didn't want to buy a roll I would have to wait until they made it to Toronto in circulation.
Pillar of the Community
Canada
1082 Posts
 Posted 04/03/2009  8:21 pm  Show Profile Bookmark this reply Add WpgLwr to your friends list Get a Link to this Reply
So, it's no longer the Royal Canadian Mint, it's also the Royal Quebec Mint, then.
Pillar of the Community
Canada
2084 Posts
 Posted 04/03/2009  8:27 pm  Show Profile Check chequer's eBay Listings Bookmark this reply Add chequer to your friends list Get a Link to this Reply

Quote:
we have also taken care of reserving a reasonable volume for circulation in other parts of Canada.

I think I'm going to go with the representative for the press over the CSR or his supervisor. Now, just how many have been set aside is another story...
Valued Member
Canada
384 Posts
 Posted 04/08/2009  08:54 am  Show Profile Bookmark this reply Add 1945V to your friends list Get a Link to this Reply
According to the RCM website

http://www.mint.ca/store/content/pr...20Collection

It says 95% of the Montreal Canadians coins have already been sold through Metro stores in Quebec.
Besides pushing the sales of overpriced commemoratives, it mentions that the coin should be already in circulation.
I am in Quebec and I have yet to see one in circulation. Has anyone found one in their change yet ?

Edited by 1945V
04/08/2009 08:57 am
Pillar of the Community
Canada
1082 Posts
 Posted 04/08/2009  09:15 am  Show Profile Bookmark this reply Add WpgLwr to your friends list Get a Link to this Reply
Latest Communication!

In regard to what I encountered at the Mint the other day, I wrote a letter to them:

From: WpgLwr
Sent: April 3, 2009 8:57 PM
To: Reeves, Alexandre
Subject: Montreal Canadiens Circulation Loonie

Dear Mr. Reeves,

I live in Winnipeg, and just returned from the Mint's Boutique here after a search for the new Montreal Canadiens loonie. To say that it was a wasted effort would be charitable.

I figured that I could just pick up a half dozen or so; that was all I really wanted.

Asking the lady behind the counter about it, she pointed down inside the display case, mentioning that I could buy them for $44.95 per roll, to which I replied, "What do I get for the extra $20? Just pretty wrapping?"

She defended this by saying, "It's a collector's item."

Now, I've collected coins since I was in grade school, some 40 years or so. I know all about "collector's item[s]", so my reply to her was, "Yes, I know but—"

In a real snarky voice she says, "Well, I know too", cutting me off, and then she walks away to another section of the counter where other people are looking in the display case there.

The gent there was looking for the same thing I was, and she again tried to sell the over-priced roll of loonies, but to him this time. He wasn't agreeable either, and said he only wanted a few, and asked if they would be released to banks for general circulation. Her answer was that if you ran across them in your change, it would be because someone opened their roll and spent them.

Now, this is totally ridiculous. Apart from being a bold-faced lie (your press release says "Metro, Quebec's largest grocery chain, will begin the exclusive distribution of the Mint's Montreal Canadiens Centennial $1 commemorative circulation coin across the province"), it also seems to buck common-sense. Who would open a $45 roll of coins only to be able to spend them for $25? That is not at all logical.

It's all well and good that the population of Quebec will be able to get this coin, but what about the rest of the country? You state that "Canadians fans across Canada can now look in their change for these new coins…" but how can that be if they are not being released to banks? You also refer to this as being a "circulation coin", which is a total misnomer, considering the fact that from what I can see, they will likely do anything but circulate freely. This coin is not a "circulation coin" at all; it is a different coin from that in the proof set, but you can hardly call it a "circulation coin", because what it actually is is a limited mintage business strike released exclusively in one province.

The funny thing is, though, that as far as I can see, you are still The Royal Canadian Mint, not "The Royal Quebec Mint". There are coin collectors and hockey fans (and some are even both!) in the other nine provinces and three territories, and the Mint would do well to realize that. If these coins are to be released generally throughout the rest of the country, you would do well to mention that, as well as when that will occur.

It would also make sense for the Mint to teach their Boutique workers some manners, as well. They are supposed to be there to serve the public and to be truthful in their replies to inquiries from the public, not to make up answers that don't make any sense.

Sincerely,

WpgLwr

cc. Shelley Glover, M.P., Winnipeg South


It would seem that they considered my letter worthy enough to be answered:

Good afternoon WpgLwr.

Thank you for sharing your concerns regarding the availability of the newly introduced Montreal Canadiens Centennial one-dollar commemorative circulation coin through our Winnipeg boutique and general circulation channels.

I am pleased to inform you that the Mint's Winnipeg boutique has a new supply of commemorative circulation coins which are being exchanged with the general public visiting our facility. As the supply of these sought-after coins remains limited, I would recommend that you call the boutique at 204-983-6429 as soon as possible to make sure that coins remain available.

I also wish to point out that 2.5 million of these commemorative one-dollar coins are entering general circulation. This quantity is over and above the quantity distributed exclusively in Quebec by Metro grocery stores.

It is important to further note that only 10 million of these $1 circulation coins were struck, as the Mint must carefully evaluate the number of circulation coins it produces on an annual basis so as to prevent oversupplying the market. When dealing with high-value denominations such as one- and two-dollar coins, the market's ability to absorb new coins is understandably limited. Nevertheless, these coins will gradually emerge in general circulation across Canada not as a result of collectors "breaking their commemorative rolls", but as banks and retailers order new supplies of $1 coins.

I regret that you did not receive a satisfactory explanation on this question, but please be assured that staff have been reminded of the number of Montreal Canadiens centennial circulation coins are going into circulation in the rest of Canada.

I hope this helps address your concerns and thank you again for your message.

Alex Reeves

Manager/Chef, Communications
Royal Canadian Mint/Monnaie royale canadienne
320 Sussex Drive, Ottawa Ontario Canada
(613) 949-5777 (Tel)
(613) 884-6370 (Mobile)
______________________________

Visit http://www.mint.ca for Vancouver 2010 keepsakes and gifts
Découvrez les souvenirs Vancouver 2010 à http://www.monnaie.ca


So, I'm off to the Mint today, to see how many I can actually get.



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