I've been debating posting this online because it didn't seem like a big deal at the beginning. At first, I would find odd-looking toonies here and there and actually collect them thinking they were some sort of rare error variety (Even I, a professional coin collector, was fooled). But upon finding this gigantic hoard of high-quality counterfeit toonies in one cash register alone, I thought it would be appropriate to post a serious PSA for all retail stores, banks, restaurants and small businesses before there's a massive glut of these coins in everyone's cash registers. Given that I've been finding them on and off since March, I'm assuming they're already in circulation in major numbers in the GTA.
Given the high quality finish of these coins, its clear there's an organized crime aspect behind these coins. There's no way they're going to profit off these toonies by spending them on $2 coffees. So if you work in retail, banks, restaurants or small business, if anyone comes in asking to pay in rolls of toonies or exchange them for cash. BE EXTREMELY CAUTIOUS, ESPECIALLY WITH WHAT I'm ABOUT TO SHOW YOU.
To start off with: Here's a photo and video of what was found in one cash register alone. Yes, they are all fake. All 75 toonies.
A view of these coins from the naked eye, nothing really looks amiss. The coin on the left is genuine. The coin on the right is counterfeit. How can you even tell them apart at first glance?
Here are some of the things you can tell the counterfeit coins from the genuine ones: APPEARANCE
to the site. Wow that's pretty scary never ever thought it would worth the effort for small change, I guess if a person gets enough out in circulation before found out it could be thousands of these in circulation. Thanks for the heads up I'll be checking my loonies + toonies closer now
I assume (and may be wrong) equipment to fake these would be easier to produce than for faking all the protection devices on bills. I know bills are faked as well - and it does not take long after a new design is officially released. But I would just think stamping out change would b easier. Maybe another good reason we rejected the dollar coin in the US.
Releasing smaller denominations fakes into circulation could possibly escape the eyes of authorities, who undoubtedly see higher value fakes as higher priority. Most of the counterfeit measures are on the polymer bills for this reason - with the exception of the small virtual maple leaf, toonies have no counterfeit protection. In fact, the forgeries here are of the older variety, without this virtual maple leaft.
Excellent Work!I am hoping you have contacted the authorities. I would assist you any way I can and bring my contacts at the RCMP etc to your assistance. Please feel free to contact me for assistance. Mike Marshall
There was an organization a number of years ago, called the "Montreal Mint" that was releasing fake toonies. I don't recall the details (@SPP, Jamie would know), but I believe that they were caught and stopped.