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 Replies: 12 / Views: 2,698 |
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Valued Member
Canada
189 Posts |
After visiting my local CIBC bank, I decided to withdraw a box each of pennies, nickels, dimes, and quarters. The box of pennies had coins dating back to the 1940s but, this was not the case for the other denominations. All of the nickels, dimes, and quarters were post 2001! This was a very disappointing discover for me because there are very few rare Canadian coins minted after 2001.  I tried to do some research to learn if the Royal Canadian Mint is melting all of the pre 2001 "silver" colored coins but, I did not find much info. Now each time I visit the bank, I have to ask for "hand wrapped rolls" because all of the mint ones are no good. My question is; Does anyone else notice this problem? and should I be keeping all of the older Canadian coins I find? |
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Pillar of the Community
United States
530 Posts |
There is a refinery company in ohio in the us melting all the copper canadian pennies they can find. Also they are melting certain years of canadian nickels as well. Obviously they have a source for large amounts of canadian coinage. They were a big player in melting us copper pennies before the ban. Jackson metals is the companies name.
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Valued Member
 Canada
189 Posts |
Thanks for the info. Luckily, I have not noticed a decrease in older Canadian pennies because they are my favourite to coin roll hunt for rare varieties and dates.
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Pillar of the Community
Canada
5324 Posts |
the banks in a region like gta, recycle their own coins. only when they are short of a currency do they order from the mint. interestingly the banks pay more than face value for a coin.
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Pillar of the Community
Canada
1005 Posts |
Coinage distribution inc. Machine wrapped rolls are sorted and only contain post 2000 steel coins.
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Valued Member
Canada
189 Posts |
Thank you very much everybody for the information. I was always curious why all the coins are newer.
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Valued Member
United States
146 Posts |
inventor719 - I noticed the exact same thing you did on a recent trip to Toronto. Several banks produced rolls of nickels, dimes and quarters only from the last 10-20 years or so - mostly 1990's to present. This is very different than the roll hunting here in the states where I never run into this phenomenon. I asked the folks at the Canadian mint in Ottawa if they do remove older coins from circulation and they confirmed they do but did not produce any specific criteria.
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Pillar of the Community
United States
530 Posts |
A friend of mine on this forum, that I have traded with told me the RCM, is gonna pull all the pennies in 2013. He did manage to get me all my missing pennies but 5 from the 20's, and I only need 2 nickels. |
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Rest in Peace
United States
3 Posts |
I'm wondering how many 2012 Canadian cents were minted....both the magnetic (copper plated steel) and non-magnetic (copper plated zinc). It seems that unc rolls on ebay are still going for $6/roll. |
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Pillar of the Community
Canada
1161 Posts |
Two of my Local Banks ( A CIBC branch and a BMO branch ) both told me that starting sometime in February 2013...Banks Canadian banks are supposed to start sending any 1 cent coins back to the Fed to be removed from circulation and recycled. I asked both tellers if this meant that I will no longer be able to purchase one cent coins from them after February and they could not say 100% either way. They will have to wait and see exactly what the restrictions and or procedures are when the time comes. I sure hope they will still be able to sell them to customers if the customer wants them prior to shipping back to the fed to be recycled. I guess we will have to wait and see what February brings. :)
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New Member
Canada
2 Posts |
I'd also love to know how many 2012 pennies were minted. I currently own 10,000 of them, 7500 magnetic and 2500 non-magnetic.
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Valued Member
Canada
83 Posts |
I picked up my first nickel coin rolls yesterday (also from CIBC) and had plenty of pre-2001. I only got 5 rolls but there were a couple dozen coins in the 1970's and 1980's, along with plenty in the 90's and 3 earlier than that (a pair of 1960 and a 1963).
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Pillar of the Community
United States
959 Posts |
Question please;
Are all Canadian cents from 2000 on, composed of 94% steel?
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Replies: 12 / Views: 2,698 |
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Posted 01/02/2013 09:48 am
