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 Replies: 9 / Views: 1,982 |
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New Member
Canada
48 Posts |
I read somewhere that the ALLOY RECOVERY PROGRAM has not yet reached out in the eastern provinces of Canada. Is this true? If so, this should be a great area for coin roll hunting and circulation finds!
Anybody have any insight into this?
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Pillar of the Community
Canada
5324 Posts |
The ARP is done through the main region banking system and they are paid a fee to separate the old coins, so one would assume all regions of Canada is being Arped
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New Member
 Canada
48 Posts |
john100 - that sounds a little cryptic. What are you saying exactly? Main region banking system?
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Pillar of the Community
Canada
5324 Posts |
The RCM chopped Canada into if I remember correctly into 5 regions, and from these regions like in southern Ontario it is in the main branch of the big 5 banks in Toronto that orders new coinage if needed from Winnipeg, and they paid the banks a fee to ARP the coins for the RCM. So I guess there is a main banking center for Atlantic Canada, but I don't remember where it is, this info came from the person who ran the bulk order dept. in Winnipeg, so the ARP program should been implemented across Canada evenly the last many years. |
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Bedrock of the Community
Canada
10743 Posts |
John is correct.  |
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Pillar of the Community
United States
4867 Posts |
I feel the ARP does a disservice to collectors. Just because the coins are older and of a different material doesn't mean they don't work for what they were intended for.
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Pillar of the Community
Canada
5324 Posts |
You can go to any coin show and have access to any recent modern coin for very reasonable price, except for a few modern varieties like the 2000 P 50 cents, and quarters, Arp actually in my opinion helps the hobby by reducing the number of old face value coins, and a great make work project for the RCM. |
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New Member
Canada
48 Posts |
Anybody from Eastern Canada have an insight into this? Thanks!
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New Member
19 Posts |
I am from Newfoundland and did coin roll hunt for a number of years when I was younger. I personally never had any real success with it. I am not sure on the sorting systems they use but I always found older coins in freshly rolled coins that were just handed in at the bank by a customer. I never had any luck at all with the boxes of coin rolls.
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Pillar of the Community
Canada
5239 Posts |
@theforce, collectors were not a factor in decision to implement the ARP, it was just to make a bit of money. As far a circulating coinage is concerned, the RCM is concerned very little about collectors-it is a convenience to commerce and the motivation is, ultimately, profit. To be frank, I do not think that the activities of the mint should be determined to any significant degree by the interests of collectors, much as I am one myself. Collectors are a small minority and national mints should operate for the benefit of the public as a whole. If you look at the history of mints, they never operated for the benefit of collectors. It was never more than a sideline. Edited by oriole
01/14/2018 3:28 pm
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Replies: 9 / Views: 1,982 |
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Posted 12/29/2017 4:02 pm
