CPM Forum

Canadian Notes => Canadian Journey Notes => Topic started by: jonathan on June 19, 2004, 02:19:55 pm

Title: $5 coin?
Post by: jonathan on June 19, 2004, 02:19:55 pm

I read on another web page that a $5 coin has been proposed for release at some unknown future date.  It has already been nicknamed the "finnie" ("fin" is another popular name for $5 bill).  This has likely been delayed as the $5 bill was redesigned for release in 2002.

I sure don't want to see a new $5 coin in the near future.  It's bad enough having to lug around all that coin going places.

By the way, if there was to be a $5 coin in the distant future, would there be more new $10 notes issued like when the $1 bill was retired and more $2 bills were issued back in the early 1990's?

Also, if we do see a $5 coin, will it still have Sir Wilfrid Laurier's portrait on the face of the coin, like it is on the $5 bill?

See what you think.

Later,
Jonathan

Title: Re: $5 coin?
Post by: Marc on June 19, 2004, 04:11:15 pm

Don't count on seeing a $5 coin any decade soon.  This is an old issue that was killed about 5-6 years ago.

Title: Re: $5 coin?
Post by: suretteda on June 19, 2004, 05:11:54 pm

Question 5: Will the $5 note be replaced by a $5 coin?
 
Answer: There are no plans to introduce a $5 coin at this time.

Only Parliament has the authority to add new or delete existing denominations of coins and bank notes. Such decisions would be made in consultation with the Royal Canadian Mint (for coins) and the Bank of Canada (for bank notes). At this time, Canadians have not expressed a need for a $5 coin.

http://www.bankofcanada.ca/en/banknotes/general/faq/index.html#Q5