Fake Canadian $2 coins circulating - good article

[ssfc72]

A new fake Toonie has emerged in Quebec, Ontario: Here's how you spot it

https://globalnews.ca/news/10108612/fake-toonie-quebec-ontario-how-to-spot-it/

26,000 fake coins have been seized, in Quebec and a small number in Ontario.

These fake coins were seized by authorities way back last January.  I only found out about it today.
I wonder why the news media/government have not informed the public, back in January?

[buster]

Thanks for this Bill.

My first thought was that a master criminal can't be hidden behind this venture. The original cost is little agreed, but you're left with 26,000 coins to pass. That's over 2000 a month, or 500 hundred every week or about 70 each and every day.

So what usually happens, as I understand it, is the coins would go through primary distributors, and the distributors would have to make money for their risk so would pay a highly discounted price. The distributors would sell the coins to the actual users, taking their own profit. The buyers would also have to make money.

The money coming to the initiator of the chain would be not too much, and yet his (Her?) risk would be large, and the penalty unpleasant.

Our not-so master criminal might plan on using this as a source of small amounts of money over several years, but chance alone should give him pause. 26,000 criminal acts successfully completed sounds unrealistic.

Would love to hear from anyone who knows how they would actually be passed by someone who did it for a living.

[ssfc72]

Or you could just go to various vending machines and buy $2 chocolate bars/soft drink or other vending machine merchandise. Then you could either eat the candy bars or resell the other vending machine items. :-)

[buster]

Yes, over $50,000 worth of chocolate bars. He may be dimmer than we imagined.

It is interesting that there may be a problem with the coin being recognized. I think weight is important.

Vending machines are a good idea though if the coins work. Impersonal. Though if he keeps showing using the same machines the filming of the people using the machines should reveal the culprit.

[Jason]

I guess that he sells them to other people down the line. Keep in mind that you can use these in place of bills, not just for machines but paying for anything. It might only be $20 here and there, but it can add up. Works great for tips, too, although the people unethical enough to buy batches of these coins probably don't tip. Most vending machines, like transit machines, go by weight so those aren't good places to use them. I've had trouble with loonies in the past and never understood why until I had the same problem with transit boxes (at the front of buses).

Drug dealers do the same thing. They don't sell their entire stock to one person, they sell it to lots of people. And if you're thinking that drug dealers are making a lot more per person, think about weed. An ounce can cost about the same as a package of cigarettes.