Canadian Vending

News
CVA doubts new coins will deliver benefits


May 11, 2010
By Emily Jed | Vending Times

NEWS HIGHLIGHT

CVA doubts new coins will deliver benefits
Canada’s federal government has announced its plans to change the metallic composition of the one- and two-dollar coins to multi-ply plated steel. The Royal Canadian Mint estimates the new material will cut costs significantly.

Canadian Coins 

May 11, 2010, Ottawa – Canada’s federal government recently announced it’s plans to change the metallic composition of the country’s one and two dollar coins to multi-ply plated steel. The Royal Canadian Mint estimates that the new material and production technique will cut costs significantly, saving up to 15 million a year.

The vending association issued a statement expressing its concern that, while the introduction of the multi-ply coins will save significant money for the Canadian Treasury, the change will result in equal, if not greater, costs to Canadian small businesses in the automatic merchandising industry. | READ MORE

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