Recycling Program For Coins?

From my understanding what they are trying to do is get people to bring in their old change and get back the older pennies, nickels, dimes and quarters as there metal value is worth a considerable amount more than the newer coinage. You can really see this on the following website http://www. (124) Not Allowed - Auto-Removed .com/canada where you see some of the older pennies are worth 200% more, so the mint if taking them back and melting them down for the metal value and making a profit. So for collectors this should make there collections worth more as there will be fewer and fewer coins out there for collectors to get. Yet the mint says the following about coin recycling of trying to get more coins into circulation with the following article
http://www.mint.ca/store/mint/learn...ling-1200014

In Canada they are trying to do this with the Coinstar program in a lot of grocery stores.

Hope that gives you some more information.

What's more secure than nickel worth over melt? Who's going to counterfeit old nickels? It's not even worth it.

Magnets wouldn't work because they don't grab cupronickel.

As the price of metals was rising, the RCM decided to switch from nickel (or copper for the penny) to multi-layer plating around 2000/2001.

At the same time they started producing plated coins, they started melting older coins. They gave the contracts to companies like Coinstar, which put machines in different locations, mainly in crowded (urban) supermarkets or malls.
That looked helpful at first sight: you drop your coins in the machine, it gives you a receipt to claim your money at the supermarket cashier.
I don't know about now, but at the time, the machine was charging something like a 9,8% fee. Most of people didn't know, so if you drop let's say 100$ in coins in the machine, it would give you a 90,20$ receipt.

Then the nickel is sorted from the plated coins: nickel is going back to the Mint to be melted, the plated coins are rolled up and put back in circulation.

It had a significant effect on the circulating coins. We now get bricks with only plated coins. Overall, I'd say that nickel coins represent some 10-20% of our change, and it's still going on.
As an example, 2006 was the year the RCM struck the most 25¢ in its history.
The Vancouver olympics serie helped to replace those melted nickel quarters as well.

The RCM saved a lot of money with this. Theorically, with the nickel of an old quarter, you could plate over 45 new quarters.

And yes, their core is made of steel. So will the future loonie & toonie.
Plated pennies may have a steel or a zinc core.

In the 2010 annual report, you can read what I was talking about in the other thread, bottom of page 36 + top of 37:
http://www.mint.ca/store/dyn/PDFs/M...ng_FINAL.pdf

First off, I could never understand the logic of plating them with nickel at all. What's the benefit of that?

Second, the mint should take their kookiest ideas and give them a super-low mintage of 0.

The nickel plating is to prevent rust. Look at some well-worn 1944 and 1945 5 cents where the chrome has flaked off, and they're pretty rusty.

Also, nickel plating allows the Mint to pretend they are making a real coin and not a cheap piece of junk.