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 Replies: 17 / Views: 1,150 |
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Valued Member
Canada
469 Posts |
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New Member
United States
10 Posts |
If something costs you .04 to make and you can sell/redeem it for $2, that's an enormous profit and its not hard to sneak a few cases of them in a CONEX box filled with other random freight.
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Valued Member
Canada
425 Posts |
I like the last comment in the article by Mike Marshall. He warned all the appropriate authorities. They did nothing! Only until it became a fake toonie pandemic did they start taking action.
A little, too late, IMHO.
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Pillar of the Community
Canada
4409 Posts |
I agree with Mike M in that there are MILLIONS of them just in the T.O. area, starting with Markham and coming further South and West. We collectors have been discussing them for more that 2 years and, whoever is the original recipient here in the T.O. area, someone is making million of dollars, not thousands.
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Pillar of the Community
Canada
1967 Posts |
geeeeee...who knew.........we did. MM
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Pillar of the Community
United States
2269 Posts |
I'm curious how you would launder millions of $2 coins. Deposit in a bank - wouldn't they catch on? Run them through casinos? An army of people spending them on everyday items? Most efficient would be big ticket purchases, but who's going to take 500 coins for a $1000 item? I'm having trouble thinking like a criminal I guess. (Note - perhaps this is covered in the article but it's behind the paywall for me)
Edited by kbbpll
07/02/2022 12:47 pm
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Pillar of the Community
Canada
4409 Posts |
Most people think that the person or persons who imported them, then distributed them to a cadre of people who then took care of the circulation of them in small, every day methods from banks, stores, casinos, etc. Once imported, other folks could by them for xxx cents on the dollar and it carried on and on. This is not something that just started. They had been in it for years before a single person (out of how many?) was caught with just a pittance of what had ensued.
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Pillar of the Community
Canada
4984 Posts |
You are also talking about a 2 dollar item once you involve a lots of level of distribution the 2 dollar max profit starts to greatly lose value, everyone takes their cut. You can not deposit large amounts of change into your own bank without raising questions or fees, and most stores will not accept rolls for purchases. Although I am of the opinion this was and still is the RCM problem to solve not the end user, I also believe with the crazy increases in container shipping fees like a 20 feet cargo container costing 3K a few years ago, now costing ten times now, coins are heavy I doubt its worth importing or maybe like 2006 these are made here. |
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Pillar of the Community
Canada
1967 Posts |
John100 your view is narrow........how about boxes from brinks and other companies with 100% fakes in them. Distributed to banks....then the public
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Pillar of the Community
Canada
4984 Posts |
Find out how Brinks or Guarda got full boxes and you have most of the answers for this problem or maybe the the RCM should alert the banks to check on people depositing new full 1996 rolls Edited by john100
07/02/2022 2:48 pm
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Pillar of the Community
Canada
1967 Posts |
All those companies fill their own boxes......banks dont care etc....back to end user........go figure...been there done that...organized crime involved....too big
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New Member
United States
10 Posts |
It may not be a large scale operation, probably a very small scale operation,
Someone in Canada has the hookup with a counterfeiter in China.
Their upstart costs are dies, manufacturing time and materials They make the $10K upfront investment (or whatever) to get it going.
25 toonies in a roll, 50 rolls in a box.
8 boxes of counterfeit toonies recoups your startup costs.
Everything after that is pure profit. Whenever you need another $10K or $20K, reserve some LCL space for a few more boxes marked "Automotive Aftermarket Components", or whatever.
With modest objectives, you could live a pretty good life with a setup like this in a lucrative little counterfeiting niche... until you get caught.
Edited by LandonM
07/03/2022 1:20 pm
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Pillar of the Community
Canada
629 Posts |
I am not convinced that millions of fakes are out there. I still think it is a smaller operation. Because of some samples I obtained recently, I also think the coins were manufactured in two different places, from similar but not equal dies, and using different planchets.
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Pillar of the Community
Canada
1967 Posts |
I am hearing this for the first time t y......I find that shall we say interesting.....
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Pillar of the Community
Canada
629 Posts |
'Twas in the other site. Coins are heavily nickel platted on top of an iron rich planchets. Dies are noticeable different but still with a camel toe.
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Pillar of the Community
Canada
1967 Posts |
Still do not have login for other site.....
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Replies: 17 / Views: 1,150 |
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Posted 07/02/2022 10:37 am
