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Counterfeit Toonies Are Going To Be A Significant Problem

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Valued Member
Canada
91 Posts
 Posted 12/22/2020  09:24 am  Show Profile   Bookmark this reply Add Castor sous to your friends list Get a Link to this Reply
Hi! I'm finding about 10 per 2000(0.5%) coins checked.
I'm from Ottawa/Gatineau region.
Pillar of the Community
Canada
1806 Posts
 Posted 12/22/2020  5:45 pm  Show Profile   Check nickelsguy's eBay Listings Bookmark this reply Add nickelsguy to your friends list Get a Link to this Reply
Castor if you wish to send me one I would appreciate it. Mike Marshall
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Canada
2218 Posts
 Posted 12/23/2020  08:50 am  Show Profile   Bookmark this reply Add darryldarryl to your friends list Get a Link to this Reply
I'm in Toronto and I have been checking since the original post and have not found one.
Valued Member
Canada
74 Posts
 Posted 12/24/2020  5:06 pm  Show Profile   Bookmark this reply Add cedargrove to your friends list Get a Link to this Reply
Found this yesterday. At first it looked like a 2005 in great condition, but I quickly realized a few things were off. This thread proved my suspicion - mine also has the cloven hoofed polar bear, and only weighs 7.1g.

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Canada
535 Posts
 Posted 12/24/2020  10:10 pm  Show Profile   Bookmark this reply Add t_y to your friends list Get a Link to this Reply
Was yesterday at a BMO branch in Ottawa and got some rolls to check. I found two of these fakes, one 2004 and another 2005. Both are quite well struck (2005 with a 15-20 degrees rotated dies).

These fakes are different from the ones produced by the "Montreal Mint" busted in 2005. They are also different from the 2012 forgery I had the opportunity to examine. I will check their composition in January.

(Just FYI, although this has absolutely no statistical value, I got them out of a 16 rolls sample ... where I also found one wonderful 1996 lowball)
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United States
5363 Posts
 Posted 12/24/2020  11:20 pm  Show Profile   Bookmark this reply Add merclover to your friends list Get a Link to this Reply
I would gladly trade some US silver for one of these. I now live in Ohio, and it's hard to imagine this I know, but toonies are pretty scarce down here, lol.

Joyeux Nol / Merry Christmas!
a va bien aller

Pillar of the Community
Canada
535 Posts
 Posted 12/24/2020  11:36 pm  Show Profile   Bookmark this reply Add t_y to your friends list Get a Link to this Reply
By the way, the major marker is in fact the "camel toe".

C'mon just look at the front right paw ...
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Canada
557 Posts
 Posted 12/31/2020  09:40 am  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
I was at the bank a couple days ago and picked up six rolls of toonies. I found six fakes spread between 2-3 rolls. The years are 2004, 05 and 06.


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Canada
762 Posts
 Posted 12/31/2020  10:30 am  Show Profile   Bookmark this reply Add loonielewy to your friends list Get a Link to this Reply
I watch for these now just to have a look at the quality, but haven't found any yet.
"We are poor little lambs...who have lost our way...Baa...Baa...Baa"

In memory of those members who left us too soon...
In memory of Tootallious March 31, 1964 to April 15, 2020
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Valued Member
Canada
74 Posts
 Posted 12/31/2020  1:21 pm  Show Profile   Bookmark this reply Add cedargrove to your friends list Get a Link to this Reply
Found my second one today, this time a 2006 (last was a 2005). It was at the end of a clear roll, and I recognized it immediately before even opening the roll.

Valued Member
Canada
420 Posts
 Posted 01/01/2021  12:28 am  Show Profile   Bookmark this reply Add Coinsplus to your friends list Get a Link to this Reply
I hope our Canadian government is taking this issue of fake coinage seriously. They talk about drugs fueling the underground economy. Well, this took it to a whole new level. Who needs the Bank of Canada to fuel liquidity into the economy when a huge, well slicked counterfeiting operation is spitting out hundreds of thousand or even millions of dollars of fake $1 and $2 coinages.

They should be doing what The Royal Mint in the UK did with their British pound coins after there was tons a fakes in circulation. Demonetize it.
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Canada
622 Posts
 Posted 01/01/2021  12:26 pm  Show Profile   Bookmark this reply Add Alex A to your friends list Get a Link to this Reply
Isn't the point of the new "security features" on loonies and toonies to prevent fakes?

So then the govt needs to stop the fakes or withdraw the old coins from circulation (ARP?). Is either happening?
Pillar of the Community
Canada
535 Posts
 Posted 01/01/2021  12:50 pm  Show Profile   Bookmark this reply Add t_y to your friends list Get a Link to this Reply
Security features are intended to facilitate the identification of forgeries. But someone has to look at the coin and then remove it from circulation - and this is not happening.

The features are SUPPOSED to alert authorities of foul play. Also not happening.

Edited by t_y
01/01/2021 1:04 pm
Pillar of the Community
Canada
557 Posts
 Posted 01/01/2021  2:46 pm  Show Profile   Bookmark this reply Add Cdncoins to your friends list Get a Link to this Reply
When they introduced the new security features in 2012 the RCM must have known there was a problem with counterfeits. It seems like it would make sense to remove all the old toonies from circulation. I just don't know what kind of undertaking that would involve.
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United States
4742 Posts
 Posted 01/02/2021  12:26 pm  Show Profile   Bookmark this reply Add TheForce to your friends list Get a Link to this Reply

Quote:
It seems like it would make sense to remove all the old toonies from circulation. I just don't know what kind of undertaking that would involve.


I wouldn't think it'd be too difficult to remove the older toonies from circulation. Maybe they could use The Alloy Recovery Program. Maybe the RCM or whomever is in charge of such things to order banking institutions to recover the older the older toonies w/o the security features and return them to the RCM. But in a way it would be sad for collectors.
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