CPM Forum

General => General Forum Comments => Topic started by: friedsquid on April 13, 2007, 10:14:41 pm

Title: $5 coin to replace $5 bill
Post by: friedsquid on April 13, 2007, 10:14:41 pm

I was at the UWO today and saw an article on the bulletin board stating that the Canadian governement was planning to phase out the $5.00 banknote with a $5.00 coin.  The article looked like a reprint from a magazine but not sure which one or how old the article was.  I did hear of talk many years ago and thought the idea was scrapped.  Has anyone heard anything about this? Is this old news or something still on the table?

FRIEDSQUID

Title: Re: $5 coin to replace $5 bill
Post by: Gary_T on April 13, 2007, 10:20:01 pm

I think this is old news, and the idea was more rumor than news.

Title: Re: $5 coin to replace $5 bill
Post by: rscoins on April 15, 2007, 01:52:45 pm

Canada has had plenty of $5 coins over the years.
1912 $5 gold, Montreal Olympics $5 silver slug, Silver Maple Leafs, 1/10 gold maple leafs, and a host of Numismatic coins with the denomination of $5. Only the 1912-14 gold coins circulated to any extent.

We need a modern $5 coin like we need a hole in the head. It serves no usefull purpose unless all the vending machine manufacturers are prepared to use them and spent the millions needed to convert existing machines.

The $5 note serves us well right now.

Rick
 (this is part of the previous discussion on the $5 coin)