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 Replies: 28 / Views: 5,611 |
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Moderator
 Australia
16834 Posts |
Quote:
Is this true? It's not true in the US, but it's true in Canada. This is why Canada has laws preventing you from defacing coins, melting them down, exporting them to foreign scrap metal merchants, or indeed doing anything to or with a coin other than using it for money. It's also why Canada is much more rigorous than the United States in withdrawing and scrapping obsolete coins. The metal in the coins belongs to the government; they are simply recovering their own property. 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
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Moderator
Canada
10458 Posts |
Quote:
The metal in the coins belongs to the government; they are simply recovering their own property. The Royal Canadian Mint is a Crown Corporation. They are not interested in recovering their property, they are interested in acquiring base metals at below market value and reusing them for their electroplating plants for new coinage. It is way more profitable doing that, than acquiring new raw materials. "Discovery follows discovery, each both raising and answering questions, each ending a long search, and each providing the new instruments for a new search." -- J. Robert OppenheimerContent of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_USMy eBay store
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Moderator
United States
54282 Posts |
Are they actually recalling coins?
Show your financial support of the Coin Community Family (click here)See my topic on Mexican Numismatic Medals (click here) |
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Pillar of the Community
Canada
822 Posts |
Part of his statement; "I don't believe in government......I definitely don't believe that the state of capitalism where it is now is where it's at."
Where can you be where there's no government, desert island?
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Moderator
Australia
16834 Posts |
Quote:
Are they actually recalling coins? Yes. Any non-current-alloy coins are actively removed from circulation, through the banking system. They call it the "Alloy Recovery Program" (ARP). 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
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Pillar of the Community
Canada
5245 Posts |
The Alloy recovery Program is why it is almost a lost cause to coin roll hunt in Canada for the older coins.
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Moderator
United States
34418 Posts |
@terry, you will see that I have edited your comments. Let's please keep the discussion as much to numismatics as possible, without veering into politics or personal attacks. Thx.
"If you climb a good tree, you get a push."
-----Ghanaian proverb
"The danger we all now face is distinguishing between what is authentic and what is performed."
-----King Adz
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Pillar of the Community
 Canada
665 Posts |
Quote:
The Alloy recovery Program is why it is almost a lost cause to coin roll hunt in Canada for the older coins. Agree on this. I have lived in Canada for over 40 yrs (moved here in 1981) and since then have rarely come across any silver coins (pre 1968) in change. It was even tough to get copper pennies in the last few years before the withdrawal of the penny with most being copper plated. There are very few truly worn Canadian coins in circulation as they tend to get rolled into the ARP as they degrade. This is a stark contrast with US coinage where you can actually still get silver in change and even when looking at clad coinage, there are plenty that are heavily worn. While there is little value beyond face, even in high grade circulating coins from the last 40 years, there are a few years where there were very few coins issued... Given the impact of the ARP it may be interesting to see what is the remaining the circulating population of Canadian coins and whether there are any that are just plain difficult to find in higher grades regardless of initial mintage and therefore command a premium in high grade due to scarcity. |
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Valued Member
Canada
59 Posts |
I think it's wrong that the government owns the coins. After all, if that's true then the RCM can recall all silver for face or for free. |
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Moderator
Australia
16834 Posts |
Quote:After all, if that's true then the RCM can recall all silver for face or for free. They can. Section 9 of the Currency Act 1985 allows the government to "call in" any current coin. The exact procedure for "calling in" these non-current coins is not specified in the legislation, but they are choosing not to issue a compulsory general public recall, because sending stormtroopers to everybody's house to search for illegally hidden silver coins would be too expensive, not to mention rather unpopular. Keeping the compulsion-to-return at the level of the banks is both cost-effective and largely invisible to the general population. 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
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Pillar of the Community
Canada
1159 Posts |
Just remember Canada has the Currency Act
and the Mint Act.
The Mint Act allows them to make mint product and sell as gift ware with no intent for circulation purpose. Just wondering if there is any thing there about defacing mint product. This is a good question? I know dealers that cant sell this stuff and sell it for junk silver in many cases.
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Pillar of the Community
Canada
514 Posts |
First off the guy shot himself in the proverbial foot by admitting to pre-knowledge of guilt.
Secondly, his arguement about the penny squishing machines in Canada is super waek;
The ones I saw ALWAYS used American pennies - so the machine operators acknowledged, and could abide by the law.
I hope he is found guilty.
I hope that his punishment is enough that the guy can easily recover from it, but strong enough to send out a message and stop him or other people who might think of doing this.
But really;
Why not do this to "worthless" foreign coins?
I mean how often do you see foreign coin bins at coin shows, and they are several for a buck!?
Using a foreign coin seems like an easy solution instead of flagrantly breaking (an admittedly seldom enforced) law?
I hate ARP.
'nuff said.
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Valued Member
Canada
138 Posts |
Normally I'd be surprised if the authorities cared about a guy who is defacing a few coins.
But the fact this guy is flaunting it on tik tok, and daring someone to charge him, is probably what got him charged. They're making an example of him.
I sometimes cringe when people claim what they're doing is art. Vandals who spray paint a building will claim it's art, but they don't have the right to ruin someone else's property for the sake of their 'art'. And one could argue the images on the coins are also art, so why is this guy's art more important than the art on the coins?
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Valued Member
Canada
402 Posts |
Vonigohcr Are you sure ? Isn't the fact that they are no longer legal tender the same as demonetized ? As of January 1, 2021, the $1, $2, $25, $500 and $1,000 bills from every Bank of Canada series are no longer legal tender. These bank notes have not been produced in decades, so the decision to remove them from circulation has had little impact on most of us. About legal tender - Bank of Canada Canada Bank Notes Demonetized Numismatic Newshttps://www.numismaticnews.net › paper-money › can... Feb 2, 2021 — The Bank of Canada has removed legal tender status of its $1, $2, $25, $500, and $1,000 bank notes. ... Once upon a time Canada had a 1-cent coin. |
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Valued Member
Canada
128 Posts |
Does the govt also own the silver maples or silver commemorative issues like 2022 silver dollars?
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Replies: 28 / Views: 5,611 |
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Posted 03/23/2023 08:57 am
