Canadian Loonie and Toonie no longer nickel.

[ZenOps]

http://www.ctv.ca/CTVNews/TopStories/20 ... -12020113/

They should be circulating soon, the 6.27 gram steel cored loonie replacing the 7 gram nickel cored loonie.

Its will be a sad day in history, the first time that Canada moves to Iron for all circulation coinage.

[JadeDragon]

Before anyone starts talking about how this will impact Ni prices:

"The mint produces about 30 million of each coin annually, and the government says the elimination of the nickel element will reduce nickel demand by about 539 metric tonnes a year -- just a tiny fraction of Canada's domestic output."

"The Canada Gazette says the current coins cost about 30 cents each to produce, while Kim says he's been told the new loonies and toonies will cost between four cents and six cents apiece"

And this is really funny justification: a truck load of the new loonies will weigh 980 kilos less than the old version, and 286 kilos less for a truck full of toonies, thus "improving fuel efficiency of transportation and reducing the carbon footprint of delivering coins to the Canadian public." It's a big green move
'

[ZenOps]

Just to add: I did a test run on Canadian quarters and dimes to see how effective ARP has been.

It was about 70/30 steel/nickel on the dimes. 90/10 steel/nickel on the quarters.

They have been culling the quarters very effectively. It won't be long before they will be all steel quarters. They appear to be letting the "hoarders" have first dibs on the nickels and dimes.