Canadian Vending

News
New coins begin circulation


April 13, 2012
By CNW Group

April 13, 2012, Ottawa – A new generation of one-dollar and two-dollar circulation
coins, which incorporate advanced security features and are
manufactured with the Mint's patented multi-ply plated steel technology,
began circulating April 10.

April 13, 2012, Ottawa – A new generation of one-dollar and two-dollar circulation
coins, which incorporate advanced security features and are
manufactured with the Mint's patented multi-ply plated steel technology,
began circulating April 10.  More cost-effective than their predecessors
and unprecedented in their security, these new coins retain the "Common
Loon" and "Polar Bear" designs and physical appearance familiar to
millions of Canadian consumers and businesses.  Existing one-dollar and
two-dollar coins remain legal tender and will continue to circulate
alongside this new generation of circulation coins.

"As an industry leader and innovator focused on delivering the best
quality and value to its customers, the Mint is pleased to have
produced a new generation of one-dollar and two-dollar circulation
coins which set new standards in cost-effectiveness, durability and
security," said Ian E. Bennett, president and CEO of the Royal Canadian
Mint. "By combining the Mint's patented multi-ply plated steel
technology and sophisticated security features never before seen on
Canadian coinage, our new high-denomination circulation coins reinforce
the modern and innovative reputation of Canada's currency system."

The new one-dollar and two-dollar coins are manufactured at the Mint's
facility in Winnipeg, using the same patented multi-ply plated
steel (MPPS) technology from which Canada's lower denomination
circulation coins have been made since 2001. This proven technology,
by which a steel core is plated with alternating layers of different
metals such as copper, nickel and brass, employs far less metals than
alloy coins and produces highly cost-effective circulation coins.

Advertisment

The Mint's ability to control the plating thickness of each metal layer
also provides greater flexibility in controlling electromagnetic
signatures. This makes the security of MPPS coins superior to
non-plated alloy coins of the same dimensions.  Thanks to the superior
advantages of its patented technology, the Mint's Winnipeg facility has
been producing MPPS circulation coins for a growing list of
international customers looking for the best combination of
cost-effectiveness, quality and security.

The next generation of one-dollar and two-dollar circulation coins also
incorporates new, visible security features which further enhance the
security and integrity of Canada's coinage system. The reverse (or
tails side) of both coins features a laser mark micro-engraving, and
the two-dollar coin also contains a virtual image and
edge-lettering. With the exception of these additional security
features, the new coins will have the same diameter and thickness as
the current coins.

These changes to the one-dollar and two-dollar circulation coins, which
support the effort to modernize Canada's currency system, are
permanent. The new coins will soon appear in general circulation and
will be available through daily business transactions across Canada. All previous versions of the one-dollar and two-dollar circulation
coins issued since 1987 and 1996, respectively, remain legal tender and
will continue to circulate as usual.