New Non Nickel Loonie

[ipeefreely]

I thought ZenOps would be the first to post this!



New Non Nickel Loonie

[ZenOps]

http://www.canadianbusiness.com/arti...oonies-toonies

Welcome to Soviet Canada where money owns you!

Actually, I did post this info back in March 2010 when the mint officially stated they were moving to steel.

I always thought it was too expensive to use 7 grams of nickel for a $1 and $2 coin. I mean really, there was a time in history where all dollars in the US were made of 1.672 grams of 90% gold.

Nickel to Iron is a 920x debasement. Gold to Silver was a 15.5x debasement back when they did it in 1933. Silver to Nickel was a 56.5x debasement for Canada in 1968 (and of incalculateable debasement in the US because they basically went from Silver - to Cotton)

The even sadder thing is that our "Great" Britain has moved from 25% to 2% nickel content for their 5 and 10 pence (without telling the public officially no less)

Its like you can actually see Empires crumbling - and they all seem to be crumbling in perfect unison.

[Go4Long]

I'm confused by how using a less expensive metal to produce the coins has anything to do with "empires crumbling", to me it seems to make more fiscal sense to use a cheaper metal to produce a coin that has the same value whether you make it out of nickel or cow shit.

Any time the government spends less money to provide the same level of service I'm happy, it means more money can be spent on things I like...like F-35s

[CompletelyNumb]

ZenOps undoubtedly has a large stockpile of nickel in his garage in preparation of the crumble.

[ZenOps]

Originally posted by Go4Long
I'm confused by how using a less expensive metal to produce the coins has anything to do with "empires crumbling", to me it seems to make more fiscal sense to use a cheaper metal to produce a coin that has the same value whether you make it out of nickel or cow shit.

Any time the government spends less money to provide the same level of service I'm happy, it means more money can be spent on things I like...like F-35s

Fall of the Soviet union directly coincided with the move to steel coinage. Fall of the Roman empire directly coincided with the debasement of Silver from 40% to 2% and then to bronze.

Hungarian Pengo, debased from nickel to copper to steel and then to zinc (which arguably makes zinc worth less than steel)

So its either an effect or cause, but it seems that once you go steel - something really, really bad tends to happen. Usually bread becomes really, really expensive (which if you look carefully, is definitely happening again)

Debasement saves the government money, it saves the banks money. It saves you personally - nothing, it in fact takes it away.

16 million dollars "saved" is hardly even worth mentioning. I'd rather have the nickel loonies and buy 64 and 1/2 F-35's instead of 65.

[ZenOps]

Originally posted by CompletelyNumb
ZenOps undoubtedly has a large stockpile of nickel in his garage in preparation of the crumble.

The current consensus is that there are still 11% of pre-1981 nickels in circulation.

That means about 500 million of the 1.85 billion pure nickels are still out there, the other 1.3 billion have already been hoarded (much like every single pre-1968 silver dime and quarter)

There is still time to get a pure nickel coin, but the window will be closing in the next decade. The US never made a pure nickel coin - they could never afford it.

In the US they hoard copper pennies, which they discontinued in 1982. Canada went much further to 1996, and almost noone in Canada hoards pennies for that reason.

[Go4Long]

lol...but the pilot that drew the short straw and got stuck with the 1/2 F-35 would sure be bummed.

[ZenOps]

http://www.mint.ca/store/mint/learn/new-1-and-2-6800002



Laser etchings, lenticular images, and edge lettering.

Jeebus, they certainly are going all out on the technology just for an iron coin.

The $2 coin will still have a tiny amount of intrinsic value, the inner core will be "Multi-ply brass plated aluminum bronze"

Aluminum bronze, probably means the core of the toonie is still worth about a penny. The outer ring is worthless now.

Death of the nickel! Even though it was in $1 and $2 denomination.

History: Back in 1792, they made bi-metallic pennies in the US.

http://en.wikipedia.org/wiki/Silver_center_cent

They decided instead to make a pure copper cent weighing in a 17.11 grams.

[Sugarphreak]

...

[Modelexis]

"In an effort to save taxpayers about $16-million annually ... They’re also going to cost Canada’s coin-operated industries about $40-million in recalibration costs ..."

HOOORAY they saved the canadian citizens so much money.
lol

We can double that cost estimate because government always under reports it's estimates to the sheep.

So we have the Canadian POPULATION down 40 million dollars and taxes go up.

Rusty magnetic coins!

[ZenOps]

More historical ramblings:

http://en.wikipedia.org/wiki/1974_aluminium_cent

US produced a 0.937 gram penny made of aluminum in 1974. It never saw circulation. My conspiracy theory is that it would have destroyed confidence in the US dollar. The more accepted theory is that it was too easily confused with a US dime.

That was the same period in time that the US made it illegal to export more than $1 worth of pennies (100 pennies) out of the US due to hoarding and shortages. The US copper penny *almost* hit actual metal by weight value back then too.

In Canada, you will find several 1977 to 1981 pennies in near perfect condition. They were hoarded at the time by people worried about inflation, but let go years and decades later.

Metals of any sort have always been a safety blanket. There is great appeal in having a shoebox full of pennies and nickels for many. A happy piggy bank is a full piggy bank.

[BigMass]

Originally posted by Sugarphreak
I've actually really enjoyed this thread for all the informative oddities Zenops has posted.

I've been hording these personally

pretty baller when your collection of 1oz gold bullion coins is defined as a "hoard" :p

[J-D]

How I picture ZenOps:

[RecoilS14]

Wow....

[Sugarphreak]

...

[ZenOps]

Originally posted by J-D
How I picture ZenOps:

No no, you have it all wrong, thats an aluminum hat.

I only wear true tinfoil hats, or overpriced nickel hats.

http://www.moviereplicasdirect.com/m...kel-helmet-le/