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Topic: King Charles nickels  (Read 3834 times)
Breanna72
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« on: March 05, 2024, 02:19:59 pm »

Today when I visited a few branches and asked for Charles coin rolls two told me that they had been issued a few but they are gone, so I went to this tiny little branch where I am consistently lucky at obtaining new issues and BINGO they sold me 20 rolls of nickels.  Only problem is about 4 of the rolls do not have the coin backs on either end, therefore they need to be broken in order to 'prove' they are Charles issues unless they were the only new issues in 2023?

Also, wondering what will happen with King Charles coins and notes already produced IF Charles dies before they are issued???

Redlock
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« Reply #1 on: March 06, 2024, 02:14:15 am »

Also, wondering what will happen with King Charles coins and notes already produced IF Charles dies before they are issued???


They will still be issued because it's the ''sustainable'' way to do...

Remember, KCIII said in the UK that the Bank of England shall still issue the already printed banknotes featuring his mother and not destroy them.
walktothewater
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« Reply #2 on: March 07, 2024, 10:03:09 am »

I got my first nickel in change yesterday!  :D

AJG
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« Reply #3 on: March 09, 2024, 01:34:39 pm »

I think the coins with King Charles on them were starting to appear in Canada late last year, and I never saw any in Newfoundland to this day.  I gave up doing in-person teller service since July 2012 due to my full-time job and lack of faith for new prefixes seven months into 2022.

I am thinking the banks in my hometown only ordered a coin supply for several months only a few times per year, and maybe nowadays they only do one big order once a year - typically in April, or the week prior to Easter - usually after the snowy weather is over and the ferries can go through more frequently.  If they only order one big supply of money for the year ahead, it's probably due to much higher shipping costs especially since they may have to be sent in via the Marine Atlantic ferry (and Marine Atlantic rates are insanely high now, and rates tend to rise every April 1 - how much further can they go?), and travel over 800 kilometres from Port aux Basques to many of the major municipalities.
Breanna72
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« Reply #4 on: March 09, 2024, 03:14:13 pm »

AJG .... Want me to send you a roll of KCIII nickels at face+shipping?  Since I have 20 I can spare one for the deprived East Coast!  PM me.
Cheers, Breanna
JB-2007
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« Reply #5 on: March 09, 2024, 04:16:14 pm »

I guess it depends where you live of course in major cities better the chances are at finding them. These coins are widely available here in montreal. All denominations.
Breanna72
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« Reply #6 on: March 11, 2024, 10:01:19 am »

I guess it depends where you live of course in major cities better the chances are at finding them. These coins are widely available here in montreal. All denominations.


It's also about being in the right place at the right time.  The branches that did tell me they got some said they only got one box, and they were gone within a day or two.  It's easier to hop from branch to branch in a city than it is some rural locals that may have only one or two branches, and I cringe for those that need to drive for an hour to reach the only branch within a large region, do banking.
AJG
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« Reply #7 on: March 19, 2024, 11:56:56 am »

I have a feeling that banks in Atlantic Canada may have had the King Charles III coins, but they got a limited supply and they went like hot cakes.  Same may have occurred with the Viola Desmond $10 notes when they were first released a few years ago.

It seems like whenever a new face appears on our currency, people want them and many refuse to spend them (they'd likely hoard them) until the coins or banknotes with the former face are significantly gone.  I still see some MacDonald $10 notes to this day, but I have been seeing an increase in Desmond $10s in St. John's since last summer.  Since August, every time I withdrew $10 notes from Scotiabank ATMs I normally go to, I got MacDonald $10s only one time, and after that it was all Desmonds to this day (including recycled ones with different prefixes).  I suspect people will likely do the same when the new $5 note gets issued - if Laurier's portrait gets replaced by a new portrait.

Also, if memory serves correctly, I don't think I remember coming across any newly-minted coins in Newfoundland in recent years (the pandemic likely had nothing to do with it) except for commemorative issues of quarters and toonies - all of which had the Queen on it.  Maybe banks in Newfoundland suspended ordering newly-minted coins (except for commemorative versions) due to having enough in circulation to last a while, perhaps?

Regarding the commemorative coins, I remember getting one of those black toonies in change from a supermarket, and I felt suspicious about it and turned it down in favor of a(n) (almost-)normal toonie as a result - without realizing it was real, and a special edition toonie released in honour of the departed Queen Elizabeth II.
« Last Edit: March 19, 2024, 12:07:35 pm by AJG »
AJG
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« Reply #8 on: June 23, 2024, 12:03:32 am »

I still have not seen any King Charles coins in my hometown yet, otherwise I would have seen them in my change by now.  I understand that this was a very limited number that was put into circulation to start, but I expect that there will likely be a much bigger supply of King Charles coins minted in 2024, and based on past history, I have a feeling they'll be issued as early as the fall, as that is usually when new coins are issued.

I think the reason for the lower supply of 2023 King Charles coins was due to being released in December - they had just a few weeks left in 2023 to release them, and if true, it likely didn't justify minting a large number.  If they had released them a few months earlier we probably would have seen a more substantial number in circulation by now.

I expect that when the new $20 notes with King Charles' likeness gets released, people will likely receive them and hoard them until they become very common in circulation.  Some Canadians - particularly in Atlantic Canada - likely hoarded the Desmond $10 notes due to having been in low supply in some areas, but since last August they are now quite common and nobody seems to be hoarding them anymore.
JB-2007
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« Reply #9 on: June 23, 2024, 12:20:25 am »

Even with a late release of the charles coins in 2023, the mintage rates are still pretty high. As per Royal Canadian Mint 2023 annual report:
5 Cents: 28,422,000
10 Cents: 43,205,000
25 Cents: 80,510,000
Loon Dollar: 22,890,000
Two Dollar Bear: 8,500,000
 
AJG
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« Reply #10 on: June 23, 2024, 07:41:14 am »

Another possible reason as to why I have not seen any King Charles nickels in my region yet, it may have to do with the banks transitioning from physical cash to digital banking.  I read on several sites (including Google Maps) that at least two banks just outside St. John's had reportedly stopped ordering coins since all their cash is held in the ATMs now, and it's possible that the bank my supermarket relies on for commercial banking may likely rely on Scotiabank, and the supermarket company announced recently that they are introducing "Smart Carts" where shoppers can scan the item and pay for their purchases at the cart.  I am thinking this may be in response to possibly Scotiabank's decision to phase out cash except for the ATMs.

This means that those particular Scotiabank branches I mentioned above have nothing less than $10 notes now (Scotiabank ATMs used to have $5 notes, until the "bigger is better" crowd - that a front desk clerk informed me about a few months ago - complained about getting multiple $5 notes). This is an inconvenience since people who do not know how to use digital payments won't be able to take the bus, since bus fare requires coins.

And based on the $2 coins being produced in the lowest quantity of all the existing coin denominations (drastically low at that), implies that demand has fallen due to inflation and purchasing power of the $2 coin now being the $5 note. It seems to have been like that for years now - at least for my province.
« Last Edit: June 23, 2024, 07:54:25 am by AJG »
Breanna72
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« Reply #11 on: June 23, 2024, 09:41:15 am »

Even with a late release of the charles coins in 2023, the mintage rates are still pretty high. As per Royal Canadian Mint 2023 annual report:
5 Cents: 28,422,000
10 Cents: 43,205,000
25 Cents: 80,510,000
Loon Dollar: 22,890,000
Two Dollar Bear: 8,500,000

So if these are the mintages, then this is the number of Rolls minus the special wrapped rolls sold in sets:

5 Cents: 28,422,000/40=       710,550 - 15,000 =    695,550   
10 Cents: 43,205,000/50=     864,100 - 15,000 =    849,100
25 Cents: 80,510,000/40=  2,012,750 - 15,000 = 1,998,750
Loonie: 22,890,000/25=        915,600 - 15,000 =    900,600
Toonie: 8,500,000/25=          340,000 - 15,000 =    325,000

I can't find figures for how many individual special wrapped (non-set) rolls the mint sold, if they sold any?

Cheers,
Breanna
Redlock
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« Reply #12 on: June 24, 2024, 01:04:35 am »

Even with a late release of the charles coins in 2023, the mintage rates are still pretty high. As per Royal Canadian Mint 2023 annual report:
5 Cents: 28,422,000
10 Cents: 43,205,000
25 Cents: 80,510,000
Loon Dollar: 22,890,000
Two Dollar Bear: 8,500,000

Be careful!
These are the numbers for coins minted in the year 2023. These are not the numbers of coins minted with the date ''2023.''
It is entirely possible that these figures represent coins dated ''2022'' with QEII's effigy and KCIII's effigy.
Unfortunately, the RCM does not report the number of coins minted with a specific date anymore. The last time they did it was in the annual report of 2014.
Breanna72
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« Reply #13 on: June 24, 2024, 08:42:28 am »

Good to know.  Thanks Redlock!
 

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