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Counterfeit Toonies Are Going To Be A Significant Problem

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Author Replies: 328 / Views: 31,159Next Topic
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Valued Member
Canada
54 Posts
 Posted 06/20/2021  10:05 am  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
47P7 - YOU are right that it's probably not a good idea to share these around (even though the banks seem to). I was just trying to be helpful to the people in this forum who wanted some of these for their collection but I will listen to YOUR advice. I'm just going to take them all back to THE BANK and educate them on the coins they are passing out. I think I may also contact the RCMP - the fact that we now know which bank they are being deposited at might help them if they are interested in cracking down on this.
Valued Member
Canada
54 Posts
 Posted 06/20/2021  10:06 am  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
wilsonwu89 - it was the TD Canada trust on the corner of Ninth Line and Hwy 16 in Markham
Pillar of the Community
Canada
644 Posts
 Posted 06/20/2021  5:49 pm  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Don't contact the bank branch about these yet. I am going to withdraw and make a point of showing them in person
Valued Member
Canada
223 Posts
 Posted 06/20/2021  5:59 pm  Show Profile   Bookmark this reply Add Sammeli to your friends list Get a Link to this Reply
I've stopped taking 2 dollars coins in change from stores here in Markham. When I see that they are giving me back a twoonie, I ask for 2 loonies instead. Wondering if this is bad of me for not taking them. What do you guys think?
Valued Member
Canada
277 Posts
 Posted 06/20/2021  6:37 pm  Show Profile   Bookmark this reply Add coinman91 to your friends list Get a Link to this Reply
I don't think it's bad of you not to take them personally. If anything it should indicate to them some type of problem with the denomination and perhaps cause them to question future fake coins.
There's always two sides to the coin if you have the patience to see. -Kathryn Budig
Pillar of the Community
United States
2554 Posts
 Posted 06/20/2021  7:20 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply
What would be the profit of someone counterfeiting these? Somewhat near of 40-45 cents. Why is someone doing this? 400 for making a thousand of these? Unless they have a really fast and effective way to make this won't they be able to beat the cost of time and maintenance for the machines. I don't know how fast this can be made but I imagine it is all hand fed into the striking and or casting equipment. What about the planchets if they are struck? I don't understand why they make these instead of getting a different thing to do?
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Canada
3908 Posts
 Posted 06/20/2021  7:41 pm  Show Profile   Bookmark this reply Add okiecoiner to your friends list Get a Link to this Reply
I thought that they were making about a buck and a half off them, but I may be way wrong on that.
Pillar of the Community
Canada
4831 Posts
 Posted 06/20/2021  7:50 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
Like I mentioned before at the 2013 RCNA mint tour I asked the guide what it cost for the RCM to produce a loonie, it was around 13 cents so a toonie would not be to far off. Also the RCM is paying a good union wage, almost sure the fakes are not.
Valued Member
Canada
223 Posts
 Posted 06/20/2021  7:53 pm  Show Profile   Bookmark this reply Add Sammeli to your friends list Get a Link to this Reply
I personal think the fakes are made in China and shipped here. That would make them a huge profit on them. You know they only pay them a few cents on the dollar over there
Pillar of the Community
United States
2554 Posts
 Posted 06/20/2021  7:55 pm  Show Profile   Bookmark this reply Add Oldfordman to your friends list Get a Link to this Reply
But then to privately make them using different equipment and conditions it is different. It's like when the service manual says it takes 45 minutes to replace the alternator but it requires special tools and without them it takes to 2 1/2 hours.
Valued Member
Canada
223 Posts
 Posted 06/20/2021  8:25 pm  Show Profile   Bookmark this reply Add Sammeli to your friends list Get a Link to this Reply
I have a Chinese friend that tells me that all they need is a sample of one and they can make tools to make them and all they need to make them in a few months , sometime weeks to have finished product in your hands in less then 5 months. This has been planned for a long time My personal opinion
Pillar of the Community
Canada
4831 Posts
 Posted 06/20/2021  9:26 pm  Show Profile   Bookmark this reply Add john100 to your friends list Get a Link to this Reply
It was already done in 2005 in Laval, the bigger problem is how to distribute them under the radar, thanks to everyone here the radar is turned on except for the most important part, the RCM.
Pillar of the Community
Canada
644 Posts
 Posted 06/21/2021  01:23 am  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
Does anyone think the 5oz Big Coins produced by the Royal Canadian Mint may be a problem.

By 3d scanning the large version and then minimizing it in a computer program, you've got all the fine details etched out and provided to you by the larger example. If that makes sense to you guys...
Valued Member
Canada
54 Posts
 Posted 06/25/2021  9:24 pm  Show Profile   Bookmark this reply Add Canadianpennyman to your friends list Get a Link to this Reply
WilsonWu89 - my apologies, it wasn't the branch at Ninth Line & 16th. It was the TD at the corner of Highway 7 and McCowan Road. I took my $272 worth of counterfeit toonies back to them on Wednesday.
Pillar of the Community
Canada
644 Posts
 Posted 06/26/2021  06:50 am  Show Profile   Bookmark this reply Add wilsonwu89 to your friends list Get a Link to this Reply
And what did they say?!?!?!
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