I have kept quiet about this for a while, and watched the discussion just to see where the it lead;
Unfortunately I believe the last several posts to be the truth.
The catch-22 is that three fold on this one;
1) if you examine your change, and realize you have a counterfeit coin, legally you are supposed to turn it into the RCMP(ect), and that's at your expense.
2) if you knowingly spend counterfeit currency, according to the laws in our country, you have committed a crime.
3) as mentioned earlier, banks don't even want to get involved, and would rather not know about any counterfeit coins in their rolls (because if it seems to have within reason come from rolls you have purchased from them, they are have to eat the loss).
I have understood that banks will just toss the offending coin in the trash, and call it a loss.
I am sure the RCMP would do much the same, unless a locality was seeing a glut of them.
I love coin roll hunting, and to that extent I used to go to a couple banks semi-regularly to get rolls. Between teller managers giving me grief about not having extra rolls on hand for anyone other than their regulars, and then having to go back because some worthless foreign coin was tucked in the roll, I haven't gone roll hunting in a couple years.
As to the silly comment about American currency in pocket change, it's just that, a poor/silly example.
If you chose to accept the coins handed to you as change at a transaction, that's on you. In the case of American currency, which is worth more than ours, accepting theirs at face seems to be a no-brainer to me (especially if you would regularly go stateside where you can spend it at above par).
I for one do not like ARP;
but this is the only answer to the fake pre-security coins out there - much like what the UK did with their fake pound coins.
Then again, when the mint can create a $2 coin that costs them $0.03*, then obviously some entrepreneurial criminal would see that as easy pickings.
I think, and am sure many of you agree that it would be in Canada's best interest if the RCM
or someone in a joint effort with the RCM
was to create a press conferance to alert people, and hopefully get the fake coins out of circulation, but that scenario not withstanding, as a coin roll hunter all you can do is remove the coins from circulation.
PS = about the "*", several years ago the mint fed us a line of BS that said pennies were costing them in excess of $0.03/each to manufacture, but now they are telling us a coin of what six times the mass, which involves plating of two separate planchettes costs the same?
I really hate our current, worthless steel currency. I would like us to get back to using currency that has some intrinsic value.
If copper is so valuable, why not make one or two dollar coins out of it - if the base metal is worth enough compared to the spending power, surely that would deter would-be criminals from manufacturing this garbage... otherwise, what stops them from trying to emulate the RCM