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1000+ Penny Miser Member
USA
3121 Posts |
 Posted - 06/07/2009 : 08:16:29
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I just a saw a brief note by jadedragon about rolls acquired:
"$100 in Canadian quarters (bought with dumped nickels at a credit union branch I rarely go to). All sorted and wrapped by the Mint's Alloy Recovery Program. So no Ni, no US, no Ag. No reason to open the rolls even. Off to the dump bank."
I didn't know that Canada was doing things like this. The Royal Canadian Mint (RCM) ARP is an ongoing program in Canada that apparently works as follows:
"Our alloy recovery program (ARP) was a major contributor to the bottom line ... allowing us to recover base metals from coins produced prior to the introduction of plated coins in Canada in 2000."
I found this link via Google: You must be logged in to see this link.
Questions:
How long has Canada been doing the ARP?
Does the Canadian ARP acquire base metals and silver too?
What does the RCM do with the US coins?
Are there other countries in the world that have similar ARP programs?
Could an ARP program be inititated by the US some time soon that could remove coins of value from circulation?
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Edited by - Country on 06/07/2009 09:03:47 |
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L1011
Penny Collector Member
310 Posts |
Posted - 06/07/2009 : 09:12:26
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| It seems like Canada has been much more agressive about culling metals out of circulation than anyone else |
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Copper Catcher
Administrator
USA
2092 Posts |
Posted - 06/07/2009 : 09:29:18
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| Shhhhhhhhhh don't let the US Mint hear about this...I'd hate for the copper pennies to dry up. |
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fasTTcar
Penny Hoarding Member
Canada
573 Posts |
Posted - 06/07/2009 : 10:26:58
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The ARP program has been in full force since 2006. They expect to wind down the program in another 18 months.
It is being done in conjunction with CDI, CoinStar and some coin processors across Canada. |
www.londongoldbuyer.com |
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jadedragon
Administrator
Canada
3788 Posts |
Posted - 06/07/2009 : 14:40:15
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I occasionally get coins that have been through the ARP. The rolls are solid steel. No Silver, Nickel, CuNi, or American. Just mixed dates since 2000. I don't know for sure, but they must send the American coins back to the US (not worth melt) except perhaps the US Nickels which are much like the Cdn CuNi nickels.
Unlike you and me, the Mint can afford to pull base metal coins that have a much lower melt value then face. This is because the mint can just issue a new low cost steel coin to replace it - essentially buy that base metal coin with a newly made steel coin. We have to trade our $$ for the coin at face, and its illegal to print/coin our own money.
The ARP does not chase copper pennies (so far as I've heard, and I asked when I toured the Winnipeg Mint in November.) |
The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man. George Bernard Shaw.
Why Copper Bullion ~~~ Interview with Silver Bullion Producer Market Harmony
Passive Income blog |
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Canada RCM Alloy Recovery Program
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