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Replies: 35 / Views: 3,473 |
Valued Member
Canada
482 Posts |
This discussion, and the muddy mintage numbers from the last number of years has lead me to a decision; But I need to share a bit more first off: (start rant) I have been unhappy with our country putting out plated steel coins and plastic bills - basically all our currency is made of cheap/worthless material...
The shift to plated steel bugged me because it struck me that it was further diminishing the value of the base coin. Unlike the older nickle planchettes(?), these rust - and if you doubt me, I have a quarter with the center rotted out!
Add to that mint continues to commemorate everything under the sun...
And add to that, they now entice new collectors to hoard our worthless currency by "painting" them... (end rant) With the end of the run of QEII coins, I will be ceasing my yearly circulation coin collection. Up till this year, I have been collection coins from pocket change, and buying the yearly pilo-film encased "uncirculated" sets (or what ever they have rebranded it as this year). I may or may not add as a book end the first year circulation coins of KCIII, but if so, that will be it. I will shift to focusing exclusively to filling holes in my older stuff. Have any of you (or do any of you know of people who have) come to a similar decision as myself?I ask because I am genuinely curious.
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Bedrock of the Community
Australia
21179 Posts |
I note that there is one commemoration that the RCM has not struck a coin for:....yet: The 100th anniversary of the inaugural meeting of the Society For the Preservation of Wooden Toilet Seats Perhaps we can still all live in hope. -------------------------------------------------------------------------------------------------------------------------------------------------- Actually, I still collect all commemorative coins issued into circulation in Australia. But strictly from pocket change, at face value. No special packaging and inflated prices for me !!
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Valued Member
Topic StarterCanada
482 Posts |
ha-ha!!
I'm sure they'll get to it yet.
I mean they are commemorating Americans on our coinage... for weak-sauce Canadian tie-in's...
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Valued Member
Canada
268 Posts |
Quote: The 100th anniversary of the inaugural meeting of the Society For the Preservation of Wooden Toilet Seats I wouldn't be too surprised at this point : 
''Buy the very best, stretch to buy it. It means if you can't afford to buy it, buy it anyway."
-Steven Duckor
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Valued Member
Topic StarterCanada
482 Posts |
it needs to wholly "painted" too!
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Pillar of the Community
Canada
4779 Posts |
You have a choice of finishes: Just go to the "drop down" menu.
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Pillar of the Community
Canada
5140 Posts |
The RCM job is to create a cost effective mildly secure coins for us and many other countries, even the US has switiched to their forms of plated or sandwich coins to save mpney at least we are not using aluminum planchets. Remember around the bird series almost nobody accepted the 100.00 notes, now everyone seems to be okay with the poly notes, the BOC poly notes seems to have solved the most important problem, most of the world is slowly moving this direction. The BOC was doing poly tests with Duranotes in the bird series, but they waffled on cost and as result another two series of paper counterfeits
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Pillar of the Community
Canada
5140 Posts |
Just to add the black toonie is quite well done, an example of the RCM could create something special for general circulation although the ring could be a touch darker
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Valued Member
Topic StarterCanada
482 Posts |
I agree,the black toonie was nice,and I couldn't wait to get one for myself. I also agree it could have been darker, all the press on this coin present it as being MUCH darker than it really is - but I'll take a slightly lighter toned finish over another printed face any day. Yup,the USA have been doing plated coins for a long time, and they seem to be doing some better, becasue almost from "go" we (as in collectors) were finding plating issues abounding. Also, if the worlds largest economy decided to make it's currency of cheaper base material, they are in a prime position to do so; We on the other hand are not the economic super-power that they are... and they still have "paper" notes,and the penny.When economies like Turkey can still do penny sized copper coins of small denomination, we should be able to as well... we are supposed to - but that's a whole different rant. I think in large part, the RCM is making a joke of our currency. So I'm done.
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Pillar of the Community
Canada
712 Posts |
White plastic seat for the cir strikes, oak seat for the Proof sets and the gold plated seat only found in the special edition set.
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Valued Member
Canada
247 Posts |
Personally I lost interest in RCM when circulation coinage didn't have silver in it any more. I understand why they did it, but for whatever reason that is my break point. I know a lot of folks religiously buy the various sets the mint puts out each year along with a horde of NCLT products, but I honestly don't get it at all. In the end though I figure each to their own. If folks enjoy spending hundreds or thousands on relatively mass produced items for their own personal satisfaction and enjoyment then more power to them. Those people keep the RCM in profits every year. The thought of paying many times silver value for all the various and sundry items they put out every year makes me cringe. That's what silver maple leaves are for I think! Some also say that it's art and very, very occasionally I see something that makes me almost think that, but then they make thousands and thousands of them and I lose interest pretty fast. Again, each to their own. Live and let live and all that. :)
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Pillar of the Community
Canada
5140 Posts |
The US Bureau of Engraving should be the first country to move into poly, due to extensive lobbying by one company Crane mainly they keep making an easily counterfeited currency, that is from the largest economy !The US penny is same story a couple planchet suppliers lobbies the Washingtopn to keep these jobs , there is no logic in producing a penny in todays economy, we are over a decade since last penny nothing remotely drastic happenned here except the goverment saved a decent amount of not producing over a billion useless penny a year.
Edited by john100 04/12/2023 6:09 pm
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Valued Member
Topic StarterCanada
482 Posts |
Quote: we are over a decade since last penny nothing remotely drastic happenned here except the goverment saved a decent amount of not producing over a billion useless penny a year. Correction, the government didn't save anything. As I have understood it,the government put's in orders for what currency the mint is to manufacture and distribute - they (in theory at least) pay face value; It was the mint that was complaining that the penny was costing more than a cent to make, and this was brought up by the seated government at the time. The mint answers to the government, but is still in essence a business which operates independent from government budgets - it operates wholly as an independent business. For the record, I don't actually believe the mint ever created circulation coinage which costed on par with,or above face value; I believe that the mint skewed the facts in their favour to ditch the penny, but were always able to manufacture them at less than face - which is why they would alternate between zinc and steel cores after moving away from copper. Essentially in arguing to kill the penny, the mint just shifted away from less profitable coinage, to focusing on more profitable coinage. It is easy to cite the cost to make a penny from zinc when the cost of zinc goes up - while having shifted to steel core coins. All base metals fluctuate with the market.
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Pillar of the Community
Canada
5140 Posts |
I believe during the debate about keeping or losing the penny around the 2010 era, it costs about 2 to 3 cents to make a penny, just like what the US debate today, the penny serves really no purpose in today"s economy. The RCM employs good union wages which I believe accounts for most of the cost of a circulation coin, back in 2013 RCM Winnipeg tour, a tour manager said it costs 13 cents to make a loonie
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Valued Member
Topic StarterCanada
482 Posts |
I believe that during the debates which turned favour against continuing to make a penny, it was suggested that it costed "1.2" or "1.3" cents to make a penny.
But like I said, I think the facts were being presented in a skewed manner that suggested it was actually costing the mint this amount to manufacture, when in fact this was a theoretical cost if the mint hadn't been able to shift back and forth between base materials to adjust for market fluctuation of material.
Another way to present this is to say that when the cost of zinc (to manufacture the cores) went up, they stopped purchasing zinc.
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Pillar of the Community
 Canada
4859 Posts |
In the US, they have tried to do away with the penny any number of times but, since Abe Lincoln is on the penny, those efforts all fall short. Lincoln has roots in Indiana, Kentucky and, of course Illinois where he ran for Congress, won, and then elected President. With 3 States and all their friends voting with those three, the US will never get rid of the penny with Lincoln on it, nor will the folks in Lincoln, Nebraska where it is the State Capitol. In the US, it has nothing to do with copper or zinc or steel, it has to do with honest Abe.
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Replies: 35 / Views: 3,473 |
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