Over the past 1.5 years, I've been extensively researching a spate of counterfeit toonies that are in circulation. Some of you will have heard about this through other channels already.
These fake coins are most easily and accurately identified by the "Camel Toe" front right paw on the polar bear. It has a look of a split hoof rather than a more uniform paw of a bear.
There are numerous other identifiers on these fake coins, but the above Camel Toe is the only feature that is universal across all of the fakes and is the most easily identifiable.
Most of the fakes are being found in southwestern Ontario, particularly in the Greater Toronto Area (GTA).
Having found these fakes in circulation at a rate of about 1% (roughly 5 fakes per box of $1,000 on average), one could suggest that there are upwards of 5 million fake coins in circulation.
The RCMP arrested a Richmond Hill man in May after removing over 10,000 fake coins from circulation. There's been no further word from law enforcement on this subject, and the accused awaits trial on charges of possession and uttering of counterfeit money.
Since news of the arrest, interest in this subject has spiked with me being a guest on four radio shows and podcasts as well as being interviewed for an article in the Globe and Mail. You can access links to these at the website below.
The coins themselves are generally well made, at least in terms of the general public accepting them as genuine coins. Any numismatist who spends more than a few seconds looking at them though will notice several issues. The quality of the dies used is also poor to the point where many coins exhibit die cracks, some significant. Die clashes are also present, and most coins exhibit at least a minor die rotation.
For more information about these "Camel Toe" counterfeit toonies, visit
CamelToeToonies.ca or you can just ask me.
I'm also scheduled to deliver a presentation on this topic to the Orillia Champlain Coin Club on Wed. Oct. 12. The meeting will be held on Zoom or you can attend in person. Contact me for details if you're interested.
