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Counterfeit Toonies Are Going To Be A Significant Problem

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Canada
624 Posts
 Posted 06/03/2021  12:29 pm  Show Profile   Bookmark this reply Add wannabfree to your friends list Get a Link to this Reply
Reading thru this entire forum for the umpteenth time, and seeing all of the (varied, yet valid), perspectives, there is one common theme amongst all of us, and that is simply, that we want it fixed.

Most of us (collectors) have more questions than answers. Who is going to give us our 2$ back for a fake coin?, who is going after these fraudsters?, when is the mint going to get involved? , when is law enforcement going to get involved? Why aren't the banks weeding out the fake coins?

Not having good answers to most of these questions is quite frustrating to say the least. What is more frustrating at least to me, is the complete disinterest of the general public. They simply don't care.
What most of the public has not grasped, is the fact, that these fakes are a very cleverly designed assault on our coinage system. The coins themselves are not even good forgeries. They are not being inserted into our economy en masse. These forgers know exactly how to trickle them into circulation that gets them 2 bucks every time, but does not rattle any cages enough to warrant a public lynching.

The 1996 toonie of which 375 million were coined at the mint was likely their prime target. The forgers knew what they were doing. They also knew that most people don't really look at their coins more than what is needed to determine loonie or toonie. That is why they get away with the bear's foot that looks like two plumbs glued onto it.

The mint and law enforcement cannot make this issue public, simply because it would alert the entire country to the problem, that we, thanks to our collective membership already know. They are both using the `what they don't know can't hurt em' psychology', (and they may be right).

I for one am genuinely concerned with what this debacle may do to our coinage as a system, and much less concerned about losing a few dollars. These fakes will get better! There is no doubt.

I also will be waving a large banner if I read about law enforcement making a significant arrest but I am not going to hold my breath.

Just me venting. I do that sometime.
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3830 Posts
 Posted 06/03/2021  12:52 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
5-10 years ago, collectors had a friend in the RCMP and he made a very conscious effort to try to fight and stop the fake collector silver dollars and scarce other Canadian coins when the Chinese started offering them up. He worked closely with Mike M (nickelsguy) to get auctions removed from Ebay and let the vendors know (if the dealers themselves had been duped) that they were treading on thin ice. This RCMP officer, working with Mike and others, greatly reduced the influx of the Chinese fake collector coins. These $2 counterfeits are a different animal and a different source feeding it. Once the specific RCMP officer was transferred, the RCMP interest waned and then stopped. The people that can affect the change - the RCMP, local law enforcement, the RCNA, some dealer associations, and banks, could greatly slow and finally stop any more from being integrated into the economy. Just arrest a few folks, with lots of publicity, and get the people at the Canadian heart of this. You may not be able to stop the Chinese or mid-Eastern initial suppliers, but the bottom-line distributors can be nabbed.
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Canada
212 Posts
 Posted 06/18/2021  5:43 pm  Show Profile   Bookmark this reply Add coinman91 to your friends list Get a Link to this Reply
Found a 2005 fake. I think I have only the 2006 left to find. Has anyone posted a full list of every year counterfeit yet? Sorry if I missed it.

There's always two sides to the coin if you have the patience to see. -Kathryn Budig
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 Posted 06/18/2021  6:19 pm  Show Profile   Bookmark this reply Add wannabfree to your friends list Get a Link to this Reply

Quote:
1996, 2002, 2004, 2005, 2006 Basically all of the years.
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Canada
212 Posts
 Posted 06/18/2021  7:03 pm  Show Profile   Bookmark this reply Add coinman91 to your friends list Get a Link to this Reply
Sweet thanks wanabfree. Looks like I have the full set!
There's always two sides to the coin if you have the patience to see. -Kathryn Budig
Valued Member
Canada
54 Posts
 Posted 06/18/2021  8:44 pm  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
Oh I definitely have a full set. This is getting ridiculous. I recently picked up 8 rolls at a TD bank in Markham. 5 of them were completely countereit. I now have 6 full rolls ($300 worth) of counterfeit toonies. All came in the clear plastic rolls from the same bank. I really think I should report this but I'm not sure where. The bank? The RCMP?
Also, if anyone is in need of counterfeit coins, let me know. This would obviously only be so that you have them so you can identify them and help stop this scourge. I'm not endorsing further circulating fake currency.
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Canada
644 Posts
 Posted 06/19/2021  06:43 am  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Canadianpennyman, which bank did you get these coins from?

I advise you not to notify the bank branch yet. I want to go and withdraw some rolls first and confront them and educate them on the spot
Valued Member
Canada
70 Posts
 Posted 06/19/2021  08:50 am  Show Profile   Bookmark this reply Add sbr to your friends list Get a Link to this Reply
I believe the free world is moving to the "global reset" and is following "MMT" as a guideline for moving forward. Part of this is moving to a electronic payment system .Protecting our current financial system is not in their plans.I hate to be so dark about this but the signs are everywhere .
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3830 Posts
 Posted 06/19/2021  10:06 am  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
Well, Markham seems to be the center or starting point of most of them around T.O. Doesn't Markham have a large Chinese population there? I think that many are coming from over there and distributed here.
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Canada
210 Posts
 Posted 06/19/2021  10:33 am  Show Profile   Bookmark this reply Add Sammeli to your friends list Get a Link to this Reply
Yes we do
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Canada
1446 Posts
 Posted 06/19/2021  10:47 am  Show Profile   Check 47P7's eBay Listings Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Pennyman
Obviously YOU are not aware of the legal issues here.
However,
If I were you I would be extremely careful in what you do with your fakes and how you handle these!.
All I am saying is, despite your good intentions, you are seriously proposing to break the law!
Mike M. might wish to give you more information about that!
I am afraid you might be stuck with your $300 worth of twoonies.
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Canada
1446 Posts
 Posted 06/19/2021  10:51 am  Show Profile   Check 47P7's eBay Listings Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Pennyman
First I tried to PM you but you do not have enough posts.
Obviously, YOU are not aware of the legal issues you could get yourself into here.
However,
If I were you I would be extremely careful in what you do with your fakes and how you handle these!.
All I am saying is, despite your good intentions, you are seriously proposing to someone to break the law. You are walking on very thin ice.
Mike M. might wish to give you more information about that!
I am afraid you might be stuck with your $300 worth of twoonies.
Valued Member
Canada
54 Posts
 Posted 06/19/2021  5:58 pm  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
47P7 thank you for your concern
Pillar of the Community
Canada
1446 Posts
 Posted 06/19/2021  11:14 pm  Show Profile   Check 47P7's eBay Listings Bookmark this reply Add 47P7 to your friends list Get a Link to this Reply
Pennyman
I am not really concerned about what YOU do. that is entirely YOUR business.
But, if I were you, I would proceed with a lot of caution about offering these fakes to someone else. Before you do that, I urge you to get some qualified legal advice, simply to cover your own position.
Canadian Law is very specific about fake money. remember, you already agreed that YOU are aware that what you have are forgeries.
I wish Mike would chime in.....
Pillar of the Community
Canada
644 Posts
 Posted 06/20/2021  01:17 am  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Canadianpennyman...which bank branch did you get these from?
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