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Topic: New Canadian Tire coin set to roll out? (from the Toronto Star)  (Read 2607 times)
CJ_Sidewall
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« on: December 02, 2009, 07:22:42 am »

http://www.thestar.com/business/article/733297--new-canadian-tire-coin-set-to-roll-out

New Canadian Tire coin set to roll out?
One-dollar piece may drive rewards program revamp

In 1958, Canada got its second currency, albeit unofficially. It's the one people stuffed into glove boxes and cookie tins and jars in the garage, instead of wallets or purses.

Canadian Tire money.

Come 2009, Canadian Tire Corp., one of the nation's most iconic retailers, is introducing a dollar coin to complement its multi-hued, low-denomination stable of widely hoarded bills.

Canadian Tire spokeswoman Lisa Gibson declined to confirm the coin's launch.

She would say only that the company plans an announcement Wednesday on the direction of the rewards program and "the role that Canadian Tire paper money will actually play" in that program.

However, a copy of a flyer destined for Canadian Tire stores in Quebec, obtained by the Star, shows an ad for a limited edition one-dollar coin, available to customers who spend at least $25 this weekend. Images of the coin itself have also been posted on collectors' websites, revealing it to look a bit like a quarter, with the Canadian Tire logo on one side and the beaming fictional Scotsman Sandy McTire on the other.

The coin is likely to be the centrepiece of an overhaul of Canada's best-known retail rewards program.

There has been speculation that the company might eliminate paper money altogether.

In a digital economy, Canadian Tire money is a throwback to an era of physical cash and human interaction that scarcely exists in this online age of speedy and efficient consumption.

But such a decision would surely shock the nation – not least, the money's ardent collectors – even if the retailer has already moved to a parallel electronic rewards program using a credit card and electronic Canadian Tire money.

"Whenever my dad went and got stuff for the house, he'd give me the money," said Roger Fox, 64, who has been collecting Canadian Tire bills since 1963, is a past-president of the Canadian Tire Coupon Collectors Club and wrote a chapter on the subject for a book published by the Royal Canadian Numismatic Association. The coin is a dramatic introduction for collectors such as Fox: Is it a heartbreakingly thrifty move away from paper money or a reassertion of the importance of the rewards program?

"They may be cutting back their printing costs while at the same time not eliminating Canadian Tire money altogether, but replacing say, the 50 cent, dollar, and two dollar (bills) with a coin," Fox said, adding, "I'm just thinking out loud, that's all. I have no proof."

Canadian Tire has been making a gradual shift away from emphasizing its paper money.

The company's exclusive credit card, Options Mastercard, introduced in 2000, lets shoppers accumulate Canadian Tire money wherever they shop, at a better rate than using cash.

In its promotions, the company refers to it as "Canadian Tire money rewards" – with quotation marks around money.

Customers now receive paper money only if they use cash or debit.

Jerome Fourre, a collector since 1985 from the Montreal area, said that after a golden age of 5 per cent Canadian Tire money returns – $5 for every $100 spent – the current return is more like 0.4 per cent, or 40 cents for every $100 spent.

The company does not release details on the loyalty program.

"Canadian Tire money was originally to get people to pay cash," said Fourre.

"In 2009, cash is not what they want."

For its part, the company said it has no immediate plans to cancel the beloved bills.

And, obviously, collectors such as Fourre and Fox – part of a national subculture of clubs, meetings and exhibits devoted to Canadian Tire money – want to see the paper bills survive, though eliminating them would probably up the value of their stashes.

"When it's on plastic it's not something you have tangible in your hand," Fox said.

"It's as if you're getting something for free.

"Who doesn't want something for nothing?"
BWJM
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« Reply #1 on: December 02, 2009, 09:56:04 am »

Way to go Jerome and Roger for getting the CTCCC some free publicity!

BWJM
Member of CPMS, RCNA, ONA, ANA, IBNS, WCS.
Treasurer, Waterloo Coin Society.
Show Chair, Cambridge Coin Show.
Fellow of the Ontario Numismatic Association.
BWJM
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« Reply #2 on: December 02, 2009, 02:38:49 pm »

Here is some more info on the coin:
Click here for article [ctv.ca]

<-- Click to zoom
« Last Edit: December 02, 2009, 02:41:24 pm by BWJM »

BWJM
Member of CPMS, RCNA, ONA, ANA, IBNS, WCS.
Treasurer, Waterloo Coin Society.
Show Chair, Cambridge Coin Show.
Fellow of the Ontario Numismatic Association.
gendis
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« Reply #3 on: December 02, 2009, 07:11:19 pm »

There was a "release" today by Canadian Tire on Canada Newswire about a limited edition one dollar coin (actually a token) that will be available this weekend only and some vague comments about improving its "customer loyalty program".  If you are collector of or have a casual interest in Canadian Tire Money, please send the lady a e-mail telling them to continue to issue Canadian Tire Money in its present paper form.

It will be a sad day if the only collectoble modern "scrip" will be the notes issued by the Saltspring Monetary Authority.
« Last Edit: December 02, 2009, 11:47:57 pm by gendis »
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« Reply #4 on: December 03, 2009, 01:00:06 am »

I was digging around and almost every major Newspaper is covering the story!  While it doesn't say exactly, the coin will be issued to anyone over the 2 days who purchases $25 or more.  Does that mean credit card purchase too?

Here's a link to the Toronto Sun article complete with a video:

http://www.torontosun.com/news/canada/2009/12/02/12012611.html

Here's the article featuring a different photo
http://www.thestar.com/business/article/733544--canadian-tire-rolls-out-new-dollar-coin

Monday's K-W Record article featured a write-up similar to the one in the Star but not the same as Tuesday's article and the earlier one had a very bad pic of the coin.
« Last Edit: December 03, 2009, 01:04:31 am by Rag Picker »

[ img ]http://www.cdnpapermoney.com/sndb/sigtag.php?u=Rag Picker[ /img ]
Gary_T
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« Reply #5 on: December 03, 2009, 10:01:23 am »

This employee edition limited to 9000 sold on ebay over night for $22.00

ebay item number:  220520678624

Gary_T
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« Reply #6 on: December 03, 2009, 09:14:13 pm »

I just checked Ebay and found another there for sale at $125.00.  Also noticed that there was a $2.00 coin issued in 1990.

Collectors should have fun getting their hands on these!

[ img ]http://www.cdnpapermoney.com/sndb/sigtag.php?u=Rag Picker[ /img ]
gendis
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« Reply #7 on: December 04, 2009, 11:27:30 pm »

I am providing a copy of my exchange of e-mail with Lisa Gibson of Canadian Tire

From: Sam Sheps [mailto:samsheps@shaw.ca]
Sent: December 2, 2009 7:04 PM
To: Lisa Gibson
Subject:

Good Morning

I shall be at one of your Winnipeg stores, without fail, this weekend to ensure that I receive a Canadian Tire $1.00 coin (actually a token).  I have been collecting Canadian Tire Money for a numbers of years and I, together with all of the other collectors of your "scrip", would be greatly disappointed if you cease to issue "scrip" under your new and improved "customer loyalty program".

I am sure that I am not alone in believing that the best part of Canadian Tire is its Canadian Tire Money.  Otherwise the only thing that will set you apart from WalMart (besides your excellent automotive parts and accessories) will be your higher prices.

I hate WalMart and love Canadian Tire Money.

 
"the reply"

Thanks for your email Sam.  We will continue to carry Canadian Tire “Money” as long as our customers tell us they still value it.   I am going to send your comments to the department responsible for our loyalty program as it’s always nice to hear customer feedback.

Thanks again for taking the time to write to us and enjoy your shopping trip this weekend.

Lisa Gibson

Associate Vice President, Media and Public Relations

Canadian Tire

(416) 544-7655

(416) 480-8168 (fax)


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