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 Replies: 87 / Views: 13,548 |
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Pillar of the Community
710 Posts |
I have yet to find a regular 2016 loonie in circulation, but *have* found 2017 coins. Just an observation...
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Pillar of the Community
 Canada
514 Posts |
I doubt the RCM numbers are honestly reflecting regular loonies minted with a 2016 date; We have seen in years gone by where year "b" coins are minted during year "a" - and the year "b" coins are included in year "a" mintage numbers - because that's the calender year in which they were minted; if that many regular loons were minted last year with a 2016 date on them, where are they? My money is on that most of the "regular" $1 coins minted during the 2016 calendar year were in fact 2017 strikes. As a point of comparison I found an "old composition" 2012 loon in circulation back in 2012 (and a second a couple years later), and we all know those were scarce because of mintage, BEFORE the Brinks(?) accident... I have yet to observe a single 2016 loon in circulation. I put my money where my mouth is, and bought some rolls from a retailer - while many retailers said they didn't have them. Time will tell if I wasted my money or not, but right now, I'm doubting it. Edited by unruhjonny
05/10/2017 12:28 pm
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Pillar of the Community
Canada
514 Posts |
...another point worth considering;
If 2017 coins were not being struck during the 2016 calender year:
1) How did that 2017 'polar bear' toonie which was found early last year (and was eventually slabbed to legitimize it) happen to be?
2) How was the mint able to offer 'Canada 150' sets right from the start of the year.
I am guessing that the 2017 loons were all struck in 2016;
I am guessing that a good chunk of the 2017 special design coins were also minted during 2016 in anticipation of them being taken out of circulation almost immediately.
So far I have found two 2017 coins, and I have (predictably) put them away.
(it is worth noting that I have not done any roll hunting this year.)
Edited by unruhjonny
05/10/2017 12:33 pm
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Pillar of the Community
Canada
2845 Posts |
Quote:
...another point worth considering;
If 2017 coins were not being struck during the 2016 calender year:
1) How did that 2017 'polar bear' toonie which was found early last year (and was eventually slabbed to legitimize it) happen to be?
2) How was the mint able to offer 'Canada 150' sets right from the start of the year.
I am guessing that the 2017 loons were all struck in 2016;
I am guessing that a good chunk of the 2017 special design coins were also minted during 2016 in anticipation of them being taken out of circulation almost immediately.
So far I have found two 2017 coins, and I have (predictably) put them away.
(it is worth noting that I have not done any roll hunting this year.)
If you've looked at RCM's financial statement, "inventory" includes work in progress, not specifically detailed, only by a face value total that offsets raw material and production costs, I assume. That RCM begins preparing the following years products during the prior year occurs every year. Otherwise they'd have no NCLT to sell in January. The published mintage of circulation coin is what's ordered by the Bank of Canada and what will be put into circulation. The reason we don't see a lot of them is likely because they haven't entered into circulation because the banks haven't bought them yet. It would make sense to me that 2017 150 coinage is being pushed out in advance of all other issues that are still sitting in RCMs warehouse or at banks currency operation centres. If so, it will eventually enter into circulation after 2017 is over. |
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Pillar of the Community
Canada
5324 Posts |
The only reason for my comment about the published loonie figure could be an error is the member who has a friend working at Winnipeg mint saying there is only a small skid produced, the RCM annual production figures for those NHL mini hockey key chains loonie like 46 or so for the Edmonton version lacks common sense too. Productions of smaller denominations are always may times more than loonie or toonies, most likely if the 2016 loonie mintage is correct, they will just sit in storage, until demand and eventually they will skip a year production. |
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Pillar of the Community
Canada
514 Posts |
that could be.
I will wait it out.
Based on what I have observed, I am sitting on the 2016 loons I bought.
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Pillar of the Community
Canada
5324 Posts |
In regards to 2012 regular loonies and toonies, the accident was a small factor, the largest reason was the RCM decision to create the new coins a little smaller and lighter thus creating a situation were the original minted pre security could not be circulated, kind of a self make work project. Edited by john100
05/10/2017 1:29 pm
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Pillar of the Community
Canada
2845 Posts |
John was it you who said at one time you saw the RCM warehouse, stacked with coin from prior years? I could be wrong but it was interesting. |
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Pillar of the Community
Canada
514 Posts |
Quote:In regards to 2012 regular loonies and toonies, the accident was a small factor, the largest reason was the RCM decision to create the new coins a little smaller and lighter thus creating a situation were the original minted pre security could not be circulated, kind of a self make work project. I understand, and agree. I thought it was kinda stupid to start circulating the steel garbage and immediately start the metal recovery program... as though the metal recovery program started the moment the last truck with the old compositions stuff left the door... As I understood it the mint was simply using up the remainder of the blanks before ushering in the new coins. The accident was a small factor, but it did take a huge chunk of the 'old composition' 2012 loons and polar bear dollar coins from circulation - before they were even circulated. To date I haven't found a single old comp toonie, but I've understood that in Ontario, the toonies can be found, while the loonies cannot - it's all about who ordered them, and what was circulated where... I have never heard of the mint sitting on huge reserves of old dated coins, that seems kind of ridiculous considering that the bank of Canada puts in the orders for what the mint can create to distribute; That's the stop gap from us making our own money as fast as it can be minted... Now stuff sold as non-circulation does bridge the gap, because that stuff the RCM can create as it see fit... I would think that if the BOC under direction from our federal government says something like "ok, you can mint $13.5 million of dollar coins this year", that the stuff would be shipped out to banks as soon as it's available for delivery, other wise why not only mint what is ordered - it's not like it takes the RCM a long time to make the stuff. Edited by unruhjonny
05/10/2017 5:46 pm
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Pillar of the Community
Canada
514 Posts |
"hey Bill, turn that truck around, we've decided we're going to melt those coins"
lol
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Pillar of the Community
Canada
5324 Posts |
The RCM mints coins to demand and obviously by the Minister's request of special occasion like this years 150, sometimes it's an educated guess but they will have too many coins produced and they have skipped circulation loonies and toonies for certain years. When I ordered a few 2016 loonies from Winnipeg bulk order dept. the nice lady did say back then that lots were produced, I did ask what is lots but that was as far as she would say. I was in the RCNA tour of 2013 Winnipeg allowed access to production floor, kind of neat, the Winnipeg plant is huge maybe 20 or 30 acres asked the tour guide what the other buildings were for and she answered storage for finished coins and blanks for delivery. There is a Atlanta bank vault that the Federal Reserve is paying a stagerring fee for storing brand new Susan B Antony dollars |
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Valued Member
Canada
98 Posts |
I'm new to this forum, but I'm very curious about this topic, specifically the 2016 loonies.
Not knowing the mintages, I speculated that the 2016 loons didn't exist because I just couldn't find one in my change. Finally a couple weeks ago I got two in my change while buying a coin set from the Ottawa mint boutique.
They look like they may not have been circulated before, which would make sense to me as I got them from the mint. I'm not sure, but they are shiny gold and look very nice.
I think I'll hang onto these. As a new member and collector, I don't know much about coin grading, but -- not to take away from the topic too much -- would these qualify as AU, assuming they have not been circulated?
I'm curious to see if we'll get more facts and answers about the 2016 loons. Honestly this got a whole lot more intriguining after reading this thread.
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Pillar of the Community
Canada
5324 Posts |
Go back to boutique ask nicely if you could buy a roll or two, or keep buying odd price items and ask for loonie change, but most likely the published figure is correct
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Pillar of the Community
Canada
514 Posts |
is is typical for the mint to use new coins in their change drawers;
As a kid visiting the Winnipeg mint, this was normally how I got my new coins - I just exchanged them from the till - this was a normal thing back then... this was how I got a handful of 1991 quarters, regretably, I only kept one.
Also prior to 1996(?), this was how I would normally get all my yearly denominations up to the fifty cent piece(!) - this was when the fifty cent piece was still officially a circulation coin...
Most of my visits I'd buy an uncirculated set or something of the like, then while the till was opened, I would exchange coins at liberty.
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Valued Member
Canada
98 Posts |
I visited the mint botique today here in Ottawa, and asked to purchase a roll of loonies as John suggested. The staff told me that they stopped selling rolls of circulation coins "about 2 years ago". They told me that they only sell the special wrapped rolls that were on display. Has anyone else been able to get a roll of coins from the mint recently?
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Posted 05/10/2017 12:13 pm
