Coin Community Family of Web Sites
Like us on Facebook! Subscribe to our Youtube Channel! Check out our Twitter! Check out our Pinterest!
Username:
Password:
Save Password
Forgot your Password?


Welcome Guest! Need help? Got a question? Inherit some coins?
Our coin forum is completely free! Register Now!

Counterfeit Toonies Are Going To Be A Significant Problem

First page | Previous Page | Next Page | Last 15 Replies
 
To participate in the forum you must log in or register.
Author Previous TopicReplies: 304 / Views: 29,271Next Topic
Page: of 21
Pillar of the Community
Canada
4820 Posts
 Posted 05/05/2021  11:27 am  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
There is no incentive for the banks to weed out the counterfeits all they do in their banking regions is to recycle coins this is the most cost effective way to do business, they don"t make almost 2 billion every 90 days by being nice. As I have mentioned before, only the RCM can ask for enforcement, just like Rolex, Nike, the RCM the users can"t ask for enforcement so if you want to do something contact the RCM, I"m pretty sure they know but they don"t seem to care. If I remember right the 2006 era Montreal Mint toonies were caught by a fluke. the landlord got a court order to evict the tenant for back rents
Pillar of the Community
Learn More...
Canada
4002 Posts
 Posted 05/05/2021  11:43 am  Show Profile   Check Pacificoin's eBay Listings Bookmark this reply Add Pacificoin to your friends list Get a Link to this Reply
@47P7
Commendable idea , but in reality
not workable with the current mess
going on .
Not to get political , but I and others will be actively
helping to get rid of our MP on another
matter involving his not giving a lick about
helping small business through the pandemic .
I still think the best answer ........change the design
and composition .......NOW .
Pillar of the Community
Canada
647 Posts
 Posted 05/05/2021  11:53 am  Show Profile   Bookmark this reply Add Alex A to your friends list Get a Link to this Reply
Eventually there will have to be a design change (after the election?) and then let ARP do it's thing...

As a collector it's kind of shame watching this unfold.
Pillar of the Community
Canada
574 Posts
 Posted 05/05/2021  12:04 pm  Show Profile   Bookmark this reply Add t_y to your friends list Get a Link to this Reply
Let's put things in perspective.

More than 400 million tWoonies were struck. Probably, the vast majority is still in circulation, as Nickel is not being recovered from these coins.

The fakes are circulating in the Great Tyranto area. Some of the fakes are trickling out - I searched more than 30 boxes and found 6, one of them a "Montreal Mint" fake. I am in Ottawa.

That said, seems to me that the risk, as identified by the RCM, is small when compared with the cost of the measures to curb it: clean the circulation base.

RCM knows and prefers to keep silent (it's cheaper). Officially, the RCMP doesn't know a thing.

I suggest all to start looking at these coins as a variety. Maybe PCGS will include them on the registry set.
Moderator
Learn More...
Canada
9864 Posts
 Posted 05/05/2021  3:43 pm  Show Profile   Check SPP-Ottawa's eBay Listings Bookmark this reply Add SPP-Ottawa to your friends list Get a Link to this Reply

Quote:
Let's put things in perspective.

...

Maybe PCGS will include them on the registry set.


Quite the contradiction here...
"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 Oppenheimer

Content of this post is licensed under a Creative Commons Attribution-NonCommercial 3.0 Unported License. See: http://creativecommons.org/licenses...0/deed.en_US

My eBay store
Pillar of the Community
Learn More...
Canada
685 Posts
 Posted 05/05/2021  6:53 pm  Show Profile   Bookmark this reply Add wannabfree to your friends list Get a Link to this Reply

Quote:
More than 400 million tWoonies were struck.


I believe that number is closer to 3 Billion. That number does not include all the fakes.
Valued Member
Canada
365 Posts
 Posted 05/05/2021  9:29 pm  Show Profile   Bookmark this reply Add Proof Nut to your friends list Get a Link to this Reply

Quote:
Maybe time for the Government to look into changing the design
and composition of the $2 coin , as happened with the UK and the counterfeit 1 Pound coin problem they had .


@Pacificoin, the design was changed to incorporate edge lettering and a few other security features in 2012. The composition was changed to nickel plated steel with a bronze core.

So far none of the new security $2 coins have been counterfeited, which has me wondering about the alloy recovery program and why it hasn't targeted the older style Toonies more aggressively.

My apologies if this has already been said but I haven't followed this story since January and didn't bother reading through 8-10 pages of comments. Just finished going through my first box and didn't find any but I probably missed a couple.
Valued Member
Canada
54 Posts
 Posted 05/06/2021  5:11 pm  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
nickelsguy - here are pictures of the coins from the roll I got. Sammeli - It was from a TD Canada Trust on Ninth Line & Hwy 16



Pillar of the Community
Canada
1857 Posts
 Posted 05/06/2021  6:11 pm  Show Profile   Check nickelsguy's eBay Listings Bookmark this reply Add nickelsguy to your friends list Get a Link to this Reply
Ty
Do you remember what color the roll was?
Edited by nickelsguy
05/06/2021 6:16 pm
Valued Member
Canada
54 Posts
 Posted 05/06/2021  7:52 pm  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
They were in a clear plastic roll
Pillar of the Community
Canada
1857 Posts
 Posted 05/07/2021  8:52 pm  Show Profile   Check nickelsguy's eBay Listings Bookmark this reply Add nickelsguy to your friends list Get a Link to this Reply
Ty!
Pillar of the Community
Canada
644 Posts
 Posted 05/09/2021  4:20 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
This is exactly what I am talking about Canadianpennyman

Whoever is doing this is depositing full boxes of counterfeit toonies at the bank and the bank is recycling all the toonies back out to customers.

If you don't mind, would you like to sell me all your counterfeits and I will go to the bank to confront them about their box of toonies? Were all the coins in the 25 roll counterfeit?

This confirms that they are in the Markham area. And now we know which bank they are hitting up. This bank definitely has details on the customers identity (unless the box itself came from Brinks).

Quick question? The wrap that the toonies were in was solid plastic with the pop top seals correct? This is exactly how they were distributed from Brinks as well.

Canadianpennyman, I am also in Markham. Do you have any interest in coming with me to the bank with your coins? It would be great to get them to start and investigation and get the scumbags caught and thrown in the slammer.
Edited by wilsonwu89
05/09/2021 4:32 pm
Valued Member
Canada
365 Posts
 Posted 05/10/2021  12:25 am  Show Profile   Bookmark this reply Add Proof Nut to your friends list Get a Link to this Reply
I think I may be hooked on roll hunting now that I have found three counterfeits in the second box from the bank.

Certainly a nice way to get some of the commemoratives, particularly the scarce coloured examples which are almost immediately set aside when received in change compared to someone rolling up coins from their stash of pocket change.

Hoping that in the process I will be able to fill a few more 2017 coin boards but am doubtful I will see more than just a few colourized glow in the dark toonies.

If the RCM does not get off it's butt and start culling these counterfeits or simply just melting down the pre 2012 versions, collectors will be stuck with a majority of them that can't be legally bought, sold or traded.
Edited by Proof Nut
05/10/2021 12:26 am
Valued Member
Canada
365 Posts
 Posted 05/15/2021  2:19 pm  Show Profile   Bookmark this reply Add Proof Nut to your friends list Get a Link to this Reply
Picked up another box yesterday, no counterfeits but a nearby retail business gave me twonie in change that I immediately spotted as bogus.

Hoping to continue in the search if only to fill the Canada 150 coin boards with colourized coins and set aside a few nice BU examples of other commemoratives.
Pillar of the Community
Canada
1857 Posts
 Posted 05/21/2021  7:15 pm  Show Profile   Check nickelsguy's eBay Listings Bookmark this reply Add nickelsguy to your friends list Get a Link to this Reply
Today a full box was found at the TD @ Queen and 410. All fake. All were clear clam shell rolls. My friend spoke with the manager. He then found 10 more rolls at one of the tellers. Interesting. Good work B!
Page: of 21 Previous TopicReplies: 304 / Views: 29,271Next Topic  
 
To participate in the forum you must log in or register.





Disclaimer: While a tremendous amount of effort goes into ensuring the accuracy of the information contained in this site, Coin Community assumes no liability for errors. Copyright 2005 - 2021 Coin Community Family- all rights reserved worldwide. Use of any images or content on this website without prior written permission of Coin Community or the original lender is strictly prohibited.
Contact Us  |  Advertise Here  |  Privacy Policy / Terms of Use

Coin Community Forum © 2005 - 2021 Coin Community Forums
It took 0.34 seconds to rattle this change. Powered By: Snitz Forums 2000 Version 3.4.05