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Loonie Toonie question - please help!

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Pillar of the Community
United States
2586 Posts
 Posted 02/25/2012  5:44 pm Show Profile Check Earle42's eBay Listings Bookmark this topic Add Earle42 to your friends list Get a Link to this Message

I had planned on this before I just saw Coinsearcher had started a poll. Mine is a bit different.

I was wondering if our Canadian Neighbors who used to use paper currency on a regular basis would recall their feelings about the Loonie when it first came out.

Were they better - and why?

Were they worse, and why?

Which ones do/did you prefer using?

Are you glad bills are gone or would you go back to using bills if they were introduced and why?

Thanks for your answers. I know what it was like where I was, I am wondering if it was like this in general.

Visualize Whirled Peas
- Doctors with patience will lose money letting loose their patients.
- They're over there with their car.
Pillar of the Community
Canada
1469 Posts
 Posted 02/25/2012  5:55 pm  Show Profile Bookmark this reply Add Petersun to your friends list Get a Link to this Reply
I prefer coins.
Although they are heavy, they don't take up much space. Also, countries print paper money for large face values so no one would do counterfeits. Fifty years ago, a one dollar bill could even worth more than 5 dollars of today. Now let's think about today. Some people make counterfeits of 5 dollars because of its somewhat large face value, so that's why Canada isn't making 5 dollar coins for circulation.

One dollar bills for today, like the ones in the States, are completely useless, according to my opinions.

I am a young collector, so I don't know how people felt about dollar coins years ago.
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Became a valued member on Nov 28 2011
Pillar of the Community -- May 28 2012
Edited by Petersun
02/26/2012 1:04 pm
Pillar of the Community
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3352 Posts
 Posted 02/25/2012  5:56 pm  Show Profile Bookmark this reply Add stevex6 to your friends list Get a Link to this Reply
I didn't like them when they first came out (I'm usually not a big fan of "change" ... get it?)

... anyway ...

=> and I still prefer small-bills over large denomination coins (they fit better in your wallet)

=> however, the big currency coins are sure great for vending machines!
Pillar of the Community
Canada
1469 Posts
 Posted 02/25/2012  5:56 pm  Show Profile Bookmark this reply Add Petersun to your friends list Get a Link to this Reply
Also, were the voyageurs' dollars in circulation? Maybe this would be a good point.
Joined on Nov 05 2011
Became a valued member on Nov 28 2011
Pillar of the Community -- May 28 2012
Pillar of the Community
United States
2586 Posts
 Posted 02/25/2012  6:03 pm  Show Profile Check Earle42's eBay Listings Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply

Quote:
Also, were the voyageurs' dollars in circulation? Maybe this would be a good point.

Good point Petersun - these were even hard to find at the banks I used to go to and try to get them to collect. In quite a few years of doing this, I only was ever able to get ONE roll. The tellers always had to go looking around to find some for me and most of the time had none. Sometimes I even got responses that they thought they had stopped making them (a few years before the Loonie's debut).


Quote:
One dollar bills for today, like the ones in the States, are completely useless, according to my opinions.

I am a young collector, so I don't know how people felt about dollar coins years ago.

Yes, I figured this would be the response of younger Canadians b/c you grew up with the coin-only system. I appreciate your taking the time to comment though - thanks!
Visualize Whirled Peas
- Doctors with patience will lose money letting loose their patients.
- They're over there with their car.
Pillar of the Community
Canada
2453 Posts
 Posted 02/25/2012  6:31 pm  Show Profile Bookmark this reply Add CC-Ottawa to your friends list Get a Link to this Reply
Earle 42, you may find this thread interesting.

http://www.coincommunity.com/forum/...IC_ID=107256

There are links to two stories from the CBC archives from when the Loonie and Twoonie were introduced. Some man/woman on the street comments are indicative of the reception the 'new' coins got back then. Most felt that the government forced an unpopular change on the people.

I grew up with one and two dollar bills and the hysteria created over the introduction of the coins. My personal complaint with the coins was/is that they are heavy. As a result, they tend to accumulate at home. I would never grab a handful of loonie on my way out the door like I would with one dollar bills. The consequence is that your piggy bank balances grows faster.

On the other hand, when I'm in the US, I feel like a high roller because I have a wad of bills in my pocket all the time; albeit 14 one dollar bills.


Pillar of the Community
United States
2586 Posts
 Posted 02/25/2012  6:53 pm  Show Profile Check Earle42's eBay Listings Bookmark this reply Add Earle42 to your friends list Get a Link to this Reply
CC-Ottawa - thanks for the links - this is what I remembered and could not find much on it online.
Visualize Whirled Peas
- Doctors with patience will lose money letting loose their patients.
- They're over there with their car.
Pillar of the Community
United States
932 Posts
 Posted 02/25/2012  6:53 pm  Show Profile Bookmark this reply Add canuck1us to your friends list Get a Link to this Reply
As someone who has lived in both countries, I preferred having the one and two dollar bills over the loonies and toonies although I was only in Canada for a year of the toonies.

Still when I go there and visit and use cash, it seems like you hand over a twenty to make a small purchase and then when they add on the HST and you get your change back all in coins it makes things seem more expensive!

Also, here in the U.S., I don't like making a purchase with cash and getting back a bunch of grimy half torn dollar bills either.

I like my coins and notes clean and for collecting and my transactions made with a card, where possible.
Pillar of the Community
Canada
5923 Posts
 Posted 02/25/2012  8:45 pm  Show Profile Check SHAFTA9a's eBay Listings Bookmark this reply Add SHAFTA9a to your friends list Get a Link to this Reply
Hey, Earle, wait until they come out with the $5.00 coin, then our pockets will be full.
True North
Pillar of the Community
Canada
1166 Posts
 Posted 02/26/2012  09:11 am  Show Profile Bookmark this reply Add ikandiggit to your friends list Get a Link to this Reply
After using loonies and toonies for so long, you just get used to it.
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Australia
11235 Posts
 Posted 02/26/2012  09:48 am  Show Profile Bookmark this reply Add Sap to your friends list Get a Link to this Reply
If I may speak on the Australian experience where we, like Canada, replaced the $1 and $2 notes with $1 and $2 coins (in 1984 and 1988, respectively - a few years before the Canadians followed suit).

The replacement of the $1 note was almost universally welcomed as a good thing. People understood that continually printing $1 notes that only lasted a few years in circulation was a waste of government money. Everyone seemed to like the design, with the iconic Australian animal, the kangaroo. I can remember coming home from school on the day the coins were scheduled for release and dashing off to the bank to obtain one. I can also remember hoarding up $1 notes in the leadup to the change, most of which I still have (and which have not radically increased in value in the 28 years since). There were a few monarchists that warned of "republicanism by stealth", since the $1 note was the only banknote with the Queen's portrait on it, but they were mollified by the eventual replacement of the $5 design with one bearing the Queen's image.

The replacement of the $2 note a few years later was almost universally despised. People hated the new $2 coin - it was too small, too thick, too heavy, too ugly, too cheap-looking, too easily lost through holes in one's pockets, too offensive to aboriginies and too easily confused with the five cent piece. The coins were lampooned by the media and the victims of nasty letters to the editor for several weeks afterwards. I recall wondering what all the fuss was about; as I had done with the $1 notes, I had stockpiled a few $2 notes from circulation in the leadup to the change. I still have all of those too, and they have likewise not increased much above face value.

Here in Australia, as in Canada, we weren't given a choice. The government said, "We're replacing these banknotes with coins on such-and-such a date. You don't have to like them, but you will have to learn to use them". Curiously, whether people "liked" the new coins or not had little to do with people's eventual attitudes towards the changes. For both the much-loved dollar coin and the much-loathed $2 coin, within three months of the notes being replaced, the vast majority of people had basically forgotten that the notes had ever existed.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
Pillar of the Community
Canada
3230 Posts
 Posted 02/26/2012  09:49 am  Show Profile Check Libertad's eCrater Listings Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
I can't say too much about the $1 bill, but I remember the $2 bill well. That was a lot of money to spend on candy at one point. Today with so much inflation (and TAXES, Geez) the loonie buys almost nothing, and the same goes for coins lower than that. They are only good for parking meters.
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Valued Member
Canada
404 Posts
 Posted 02/26/2012  09:50 am  Show Profile Bookmark this reply Add North of 49 to your friends list Get a Link to this Reply
As I recall it was generally a pretty smooth transition.There was a lot of negative talk before hand but once they were out everyone seemed to accept them. The toonie seemed to be harder to adjust to, for one thing the centre of the coin would pop out this would regularly make the papers. Also, as Cannuk1 pointed out, getting a handful of change back from a .25 cent purchase gave the illusion of everything costing more, your bills defiantly disappeared faster.
Personally I like using them especially once I discovered that they are a great saving tool, throwing the change from your pocket into a jar at the end of the day can really add up. ( a baby food jar will hold about $110.00 worth of Toonies). I've been able to afford a few vacations this way.
But if they ever come out with a $5.00 coin then I feel they will have gone too far.
Pillar of the Community
Canada
2085 Posts
 Posted 02/26/2012  09:57 am  Show Profile Check chequer's eBay Listings Bookmark this reply Add chequer to your friends list Get a Link to this Reply
I worked in a bank (Bank of Montreal) at the time when the loonie was introduced, so I got to hear all of the whining and complaining (and, yes, there was lots of both of those!) when the dollar bills were being withdrawn and replaced by the loonie. People don't like change (in both senses of the word, it seems) and really weren't happy. It really didn't take long to adjust though, and because the gov't just said, "We're doing this, deal with it," everyone from individuals to businesses adjusted quickly.

Personally, I'm glad the bills are gone, but I really don't use cash often, so it's a bit of a non-factor for me.
Pillar of the Community
Canada
581 Posts
 Posted 02/26/2012  9:11 pm  Show Profile Bookmark this reply Add MrCanada to your friends list Get a Link to this Reply
Lots of resistance to the Loonie when it came out butI would guess that today if they suggested going pack to the bill albeit plastic there would be similar discontention.
Side note I did read that they were suspending the Presidential dollars. You would think that enough casual collectors would keep that going.
Pillar of the Community
Canada
3230 Posts
 Posted 02/26/2012  9:21 pm  Show Profile Check Libertad's eCrater Listings Bookmark this reply Add Libertad to your friends list Get a Link to this Reply
MrCanada: Don't you think that they should've gone with presidential quarter-dollars instead of dollars?
Selling paper money: http://gtacoins.ecrater.com
Want to Buy or Trade: Nuevos Pesos Méxicanos (UNC): P95, P96, P97, P98, P99, P105a and P105b.
Nickel, not Nickle :)
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