Are there any Canadian coin roll hunters out there?

[santafeboy]

I was wondering as a collector of early Canadian coins how is the coin roll hunting up there? Do you guys find much silver? I heard a rumor maybe on this site that the Canadian banks actively pull silver from circulation. Tell us your finds from north of the border. I myself have pulled 7 Canadian dimes down here between 1946 and 1968

 

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[tinykin]

Howdy:

I am north of the border and a frequent lurker but only an occasional poster. I found this forum and started out CHR pretty regularly. My finds were slim. Although they mint half dollars they are not in circulation so you can't order them from banks so you are stuck with quarters and dimes. I then got a few boxes which were very strange: they were all post 2000 and very new looking (even a clad quarter starts to show its age after a while). I did some research and found the Canadian mint is actively pulling copper, silver and nickel out of circulation. I did, in fact, post my findings on the alloy recovery program here:

http://forum.treasurenet.com/index.php/topic,319534.msg2305913.html#msg2305913

Which kind of depressed me. Since then I get the urge every now and then to get a box or two with the pickings typically 1 50% silver quarter or dime for every 4 or 5 boxes which makes it very uneconomical time investment-wise.

In fact through my reading here, you guys are probably pulling more Canadian silver than we are up here!!!

Good luck.

 

[SFBayArea]

How much does the Canadian gov. offer to people for turning in their old coins? Just the fact that the government does that there, would make me not turn in my coins.

I can see it happening here too but it'll probably be 20 years away when inflation totals makes lower denomination coins obsolete. By then, even the zincolns will be worth money. I wondered why they never made coins with a steel core here. Steel or iron is the most plentiful metal on earth.

 

[tinykin]

The government doesn't pay anything extra for people to turn in their coins. As far as I can tell the alloy recovery program is a deal withthe coin packagers and distributors (ie Canadian equivalents to Brinks and Loomis) to sort coins as they come in and take out "the good stuff" and return them to the mint. It would seem to me that the companies would get something extra out of the deal but it isn't clear what. As for the average Joe (or Josephine) you can store or sell silver as you want with the trouble being getting it.

 

[fistfulladirt]

Hi tiny, I'm near Detroit and found about 20 silver Canadian dimes for 2010, less than I found in '09, as I only searched about $25k in dimes. Mostly 1940's thru early 60's. ffd

 

[tinykin]

ffd

You're lucky. I was thinking about why Canadian silver turns up regularly in US crh's. The only thing I could come up with is that years ago US people picked up the odd Canadian coin and dropped it into the "change jar" as a curiosity or, if living close to the border, with the intention of taking it with them when they make a trip to Canada. I feel that now times are harder people just include the coins when they roll their change or to "fill out" a roll if they are short.

Whereas in Canada people have just been spending the coins since they were minted and so have been being pulled from circulation from that time.

 

[santafeboy]

The government doesn't pay anything extra for people to turn in their coins. As far as I can tell the alloy recovery program is a deal withthe coin packagers and distributors (ie Canadian equivalents to Brinks and Loomis) to sort coins as they come in and take out "the good stuff" and return them to the mint. It would seem to me that the companies would get something extra out of the deal but it isn't clear what. As for the average Joe (or Josephine) you can store or sell silver as you want with the trouble being getting it.

Heres an idea for the canadian government to make money off this more than silver value. Why doesnt the mint go into the collectible coin business and sell these coins to collectors I understand the government up there is hurting for money

 

[quiksilver]

I thought i read that the canadian govt pulls the silver outa circulation. That would leave customer rolled for hunting.

 

[SFBayArea]

The government doesn't pay anything extra for people to turn in their coins. As far as I can tell the alloy recovery program is a deal withthe coin packagers and distributors (ie Canadian equivalents to Brinks and Loomis) to sort coins as they come in and take out "the good stuff" and return them to the mint. It would seem to me that the companies would get something extra out of the deal but it isn't clear what. As for the average Joe (or Josephine) you can store or sell silver as you want with the trouble being getting it.

If the Canadian gov. doesn't pay extra for them, why would people turn them in? If there's no self-benefit to it, people aren't going to do it. If anything, it would make people hoard them even more.

 

[SFBayArea]

The government doesn't pay anything extra for people to turn in their coins. As far as I can tell the alloy recovery program is a deal withthe coin packagers and distributors (ie Canadian equivalents to Brinks and Loomis) to sort coins as they come in and take out "the good stuff" and return them to the mint. It would seem to me that the companies would get something extra out of the deal but it isn't clear what. As for the average Joe (or Josephine) you can store or sell silver as you want with the trouble being getting it.

Heres an idea for the canadian government to make money off this more than silver value. Why doesnt the mint go into the collectible coin business and sell these coins to collectors I understand the government up there is hurting for money

I agree. I'm sure Canada does make collectible coins for money like proofs, bullion, & such. However, I think both the U.S. government and other governments can make money easy from this too. All the government has to do is create a rare coin and sell them for profit. They can create a new rare coin to cater to the billionaires out there. They can create a coin with a mintage of 10 period and sell them for 1 million each to the super rich. Instant $10 million profit. There are people with so much money that they can't send it all in their lifetimes. Like the guy that owns the L.A. Lakers. He has a huge coin collection and probably owns almost every type of rare U.S. coin out there. They can also make a few MS-70 coins that are perfect, get a contract with PCGS grading and sell them with a U.S. Government created MS-70 label to sell for big bucks. They could even sell a few errors that they can create easily. There could be huge money made if the governments think about it instead of going into the recycling business. Those are all better than just paying to pull silver or copper from circulation.

 

[Diggin-N-Dumps]

I wonder how long it will be before the US gov. starts pulling the Silver and Copper out of Circulation...if its not already in the works...