Today we got are first debased 2012 Loonie and Toonie out of a coin counter. Talk about cheep coins they feel like Chuck E Cheese tokens it said when debased coins get debased.
Old and new.
d by henrysmedford, on Flickr
Morsecode wrote:I'm not following. How are 2012 coins debased? They're still $1 & $2, yes?
As announced in the
2010 federal budget, the RCM plans to convert the $1 and $2 coins from nickel to its patented
multi-ply steel technology. Demand for both Canadian and foreign patented multi-ply plated
steel coins will be met with additional and refurbished plating lines at its Winnipeg facility. The
RCM’s alloy recovery program (ARP) is, as expected, declining as the total source of nickelbased
domestic coins decreases over the planning period.
Know Common Cents wrote:What? The paper currency $1 and $2 notes gave you a feel of greater comfort? The US seems to be several steps behind Canada, but still following the same path.
I expect the US cent to disappear by 2016 if it doesn't get the Canadian multi-ply steel treatment. Depending upon the state of the US economy at the time, all of our circulating coinage will again follow Canada into recomposition...or is it 'decomposition?' The GDP (Generally Dumb Public) may initially recoil, but will again become complacent within 1 or 2 months. I lived through the switchover from silver to clad coins. Most people didn't even realize their legal, lawful tender had disappeared until it was too late.
Coins and currency have only perceived value. For the "print and mint at will" societies, there's no turning back. At some future juncture, even these faux units of value will be reduced to credits on a cell phone. What then can I throw into a fountain when wishing for a return to the good ol' days of sound money?
ZenOps wrote:Before they stopped circulation of the pennies, and before the debasement of the dimes, quarters, halves, loonies and toonies.
Know Common Cents wrote:What? The paper currency $1 and $2 notes gave you a feel of greater comfort? The US seems to be several steps behind Canada, but still following the same path.
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