$5 coin to replace $5 bill

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Topic: $5 coin to replace $5 bill (Read 6837 times)

friedsquid

Very Senior Member
Posts: 2,879
CPMS 1593

« 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

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Always looking for #1 serial number notes in any denomination/any series

Gary_T

Very Senior Member
Posts: 1,081
CPMS radar member 1551

Re: $5 coin to replace $5 bill

« Reply #1 on: April 13, 2007, 10:20:01 pm »

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

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Gary_T

rscoins

Very Senior Member
Posts: 708
CPMS member 1221, ONA life member, CAND President

Re: $5 coin to replace $5 bill

« Reply #2 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)

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