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Topic: $2 coins  (Read 213 times)
AJG
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« on: May 04, 2019, 08:53:19 am »

$2 coins were quite abundant from its inception in 1996 and into the 21st century.  I used to see toonies in my change on a regular basis then.

But, during much of this decade, I noticed there seem to be fewer toonies circulating now than about 10 to 15 years ago.  I was at a convenience store a couple of years ago, and the cashier on duty told me she sees, in an average shift, only one toonie.  The same cashier told me that $10 notes are also rare, but she sees slightly more of them than toonies (which might be a sign that $10 notes are going through a slow but unnoticeable rebounding, possibly due to inflation).

I also noticed that the number of $5 notes has increased in recent years.  I wonder if the reason for the toonie's decline is because purchasing power of the toonie is now the $5 bill?

Has anyone noticed a drop in the number of toonies in circulation?
walktothewater
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« Reply #1 on: May 04, 2019, 11:50:33 am »

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The same cashier told me that $10 notes are also rare,
Her idea of "rare" is a slight exaggeration. "Uncommon" or "limited" might be more fitting for both Tens & Toonies.

I think Tens released into circulation are limited (especially in comparison to the Twenty or Five denominations) for a number of arbitrary reasons.  It may be due to banking orders, regional demands or other factors (like polymer lasting longer).

When the new Vertical Ten came out one BMO branch refused to order some bundles for me.  She told me they had too many of the commemorative and old Tens to warrant an order.     So, not entirely sure why, but they're just not as popular a denomination. 

Quote
Has anyone noticed a drop in the number of toonies in circulation?
- I haven't noticed this around where I live but I'm sure it's possible. 

I have noticed a big drop in the new vertical Tens since their release last fall.  I was seeing fresh new notes from ATM's right up till February (but have seen nothing new since March). 
Beatrix
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« Reply #2 on: May 04, 2019, 04:46:06 pm »

Tens are definitely in relatively low circulation when compared to other denominations. Since the twenty is the most popular denomination for casual cash spending, a ten being a whopping 50% of that means that it is not used as change compared to the more versatile five. I have definitely noticed a trend in which large businesses like grocery stores with cash management programs will have an abundance of tens, but small businesses like delis and coffee shops where cash management is an afterthought have very few.

In regards to toonies honestly I have not noticed the same. I noticed they run out a lot in tills but that is because I find being the first step under a bill they are frequently given out as change more than they are given.

Of course this is all my personal guesses.
AJG
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« Reply #3 on: September 01, 2019, 10:17:53 pm »

When the new Vertical Ten came out one BMO branch refused to order some bundles for me.  She told me they had too many of the commemorative and old Tens to warrant an order.     So, not entirely sure why, but they're just not as popular a denomination.
I wouldn't say they're refusing to order some bundles of the new vertical tens for you.  They're likely refusing to order tens, period.  Considering that the banks have been going through the existing supply of tens slower than a snail's pace, it wouldn't shock me if the branches are considering that supply as their official last order of tens, and once they are gone, the branches (including the one you're referring to) will not be ordering tens anymore.

There was a time back in the day when $100 and $50 bills were hard to come by the same way the $10 bill is hard to come by nowadays.  I wouldn't be surprised if the number of tens in circulation now is basically the same as the number of $100 and $50 bills back in the 70s but no later than the 80s.  And the ten has spent most of its life cycle in decline, it seems.  It is basically a redundant denomination because $10 is exactly double of a $5 bill, and the $20 is exactly double of a $10.  The more divisible denomination is more important in our currency, but not the ten.

I got one question: If the Bank of Canada were to retire the $10 bill some years down the road, I bet the number of $5 bills will (more than) double if purchasing power of the $5 becomes $10, and in this case, do you think the Bank of Canada will consider a $5 coin by that point?
 

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