$2 coins

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$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?

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. 

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). 

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.

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?

I noticed something else regarding the newer $2 coins that are minted nowadays.

I noticed I don't see any newly-minted $2 coins with the polar bear on them anymore.  I don't remember the last time I ever saw a newer $2 coin with the polar bear on it.  All (or most) newly-minted $2 coins seem to be of a commemorative type with the design changing every year.  I also noticed the same thing with the newer quarters as well, I don't seem to see the caribou on it anymore.

I roll hunt quarters and toonies regularly and have lately been getting several boxes of brand new coins from the Mint.  New coins are out there for sure.

I have also been getting full rolls of the new Oscar Peterson $1 coin 11 colourized/14 non-colourized. 
Also, lots of recent sightings of the colourized blue nose dime, that seemed to dry up for a long while after it was first issued. ... in my area of Toronto.

I confess myself a bit jealous, having a hard time with new rolls in Hamilton.

As I mentioned in this thread before, a few years ago, the toonie may have been dropped in demand where I live because its purchasing power became the $5 bill.

But lately, I have been seeing no new $5 bills in my region (or they are being trickled out to the point of being unnoticeable), so if this is true then the toonie's demand may likely fallen for many years and may likely have levelled off now.  I think the reason for many $5 bills being issued to banks in my region was because they likely replaced the toonies that were not needed in my region anymore.

Also, for some years, I have seen very few $20 FZ* prefixes, even though I have received consecutive FZG and FZK from ATMs in recent years.  But in recent months I do recall seeing a fairly good amount of higher FY* prefixes (especially FYV), but considering I got the FZKs from a Scotiabank ATM two years ago, I am thinking we are getting closer to the end of the Wilkins/Poloz $20s, and by the time they're depleted the Bank of Canada may likely start issuing the King Charles $20s by that point, meaning that my region could start the  FL* run as early as FLJ.  I am sure the new $20s will have a smooth rollout unlike the Desmond $10 - the latter of which had a slower rollout due to many bank branches having stopped ordering $10s by that point.

I am thinking that demand for all denominations smaller than the $10 bill have fallen during the post-pandemic era.  And with the U.S. tariffs now in effect, it makes me wonder if demand for new bills and coins could take a steep drop now?

I do know that there have been only one new prefix reported after HJD nearly six months ago, so I am thinking that new banknote activity is going through a dry spell now.

As I mentioned in this thread before, a few years ago, the toonie may have been dropped in demand where I live because its purchasing power became the $5 bill.

But lately, I have been seeing no new $5 bills in my region (or they are being trickled out to the point of being unnoticeable), so if this is true then the toonie's demand may likely fallen for many years and may likely have levelled off now.  I think the reason for many $5 bills being issued to banks in my region was because they likely replaced the toonies that were not needed in my region anymore.

Also, for some years, I have seen very few $20 FZ* prefixes, even though I have received consecutive FZG and FZK from ATMs in recent years.  But in recent months I do recall seeing a fairly good amount of higher FY* prefixes (especially FYV), but considering I got the FZKs from a Scotiabank ATM two years ago, I am thinking we are getting closer to the end of the Wilkins/Poloz $20s, and by the time they're depleted the Bank of Canada may likely start issuing the King Charles $20s by that point, meaning that my region could start the  FL* run as early as FLJ.  I am sure the new $20s will have a smooth rollout unlike the Desmond $10 - the latter of which had a slower rollout due to many bank branches having stopped ordering $10s by that point.

I am thinking that demand for all denominations smaller than the $10 bill have fallen during the post-pandemic era.  And with the U.S. tariffs now in effect, it makes me wonder if demand for new bills and coins could take a steep drop now?

I do know that there have been only one new prefix reported after HJD nearly six months ago, so I am thinking that new banknote activity is going through a dry spell now.

In Toronto there has been new $5 Rogers-Macklem spreading around, the prefixes I got were INS, INT, INU, INW and INY

They haven't released a lot of Lane-Macklem $20 into circulation and the only prefix I found were FZZ. I remember the day I first found my Lane-Macklem $5 in July 2022.

I still find FY_ prefixes in uncirculated condition in my withdraws but I have been focusing on withdrawing in $5. I wonder what the prefix will be when the King Charles $20 comes out into circulation and the new prefix for the $5 since INA-INZ has been all used. I have heard that it will be IOA-IOZ.

Could it seem like there is a drop in the number of toonies circulating because they are doing commemorative colourized issues that people are keeping?  First issued of KC and colourized as well.  I read they will do 6 special issues of colourized commemorative toonies in 2025.

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).

I look at it this way -- when I walk into a branch and withdraw a large number of any denomination of note and the teller needs to count them by hand because they are so ripped and worn that they won't go through a counting machine -- I start hunting for the new notes in that denomination.  IMHO that's when it starts costing the banks money and they need to order new notes, and start pulling old notes.  For example, MacDonald 10s are getting harder to find, so when you do find them they are in ok shape.  Since the sort of just pulled all the ratty MacDonalds they had to issue more Desmonds. 

Banks have been passively pulling older $5 notes, but are to start needing to pull all the $5 notes with a prefix starting with H pretty soon as they are certainly "gumming up the works" they're in such bad shape, which is why I think we are seeing a slow roll out of final Rogers prefixes starting IN-.  Question is -- will the new prefix of $5 notes be the first issue of a vertical Terry Fox note?

Also, I wonder if the tariffs will actually increase the use of Canadian currency because Canadian businesses are reporting higher than normal sales because Canadian's are so serious about buying Canadian goods and products?

Cheers,
B

I read they will do 6 special issues of colourized commemorative toonies in 2025.

Just as has been done in the last few years, the RCM will be issuing two circulation commemorative Toonies. Each in a coloured and a non-coloured version.
Being honoured:
--folk singer Daphne Odjig (another $2 coin in the ''first nation series'' -- my term)
--tomb of the unknown soldier
Furthermore, there will be one circulation commemorative Loonie (coloured, non-coloured version) honouring 150th anniversary of the Canadian Supreme court

See:
https://orders-in-council.canada.ca/attachment.php?attach=46839&lang=en
https://orders-in-council.canada.ca/attachment.php?attach=46840&lang=en
https://orders-in-council.canada.ca/attachment.php?attach=46841&lang=en

In Toronto there has been new $5 Rogers-Macklem spreading around, the prefixes I got were INS, INT, INU, INW and INY

If there are no INV prefixes in Ontario at this point, this could mean that particular prefix could be a candidate for arriving to Atlantic Canada in due time.

I did see a $5 INT note inside a donation box last fall, and it was in the 3 million range.  I agree that we are long due to see the existing $5 notes with prefixes starting with H get replaced with the newer IN* prefixes.  Those particular H prefixes are at least five years old now, and should be due for replacement soon enough.

this could mean that particular prefix could be a candidate for arriving to Atlantic Canada in due time.

I’m from Atlantic Canada, and I haven’t yet seen any INV prefix notes. INT is starting to become quite common, but INU and up I have not spotted. I will be posting them to the SNDB when I find them.

Out of curiosity, I just checked the high/low database for INV and there are 159 reports from Ontario and Quebec over the last few months.  I know in the Ottawa Valley, there are plenty of INV banknotes and now INZ.  What is really interesting is the next prefix after INZ!!!

Back to $2 twoonies, plenty of 2024 KC in circulation in the Ottawa area.

Just my thoughts, Whitenite