If you stopped an average Canadian on the street, and asked about counterfeiting in Canada,(s)he would probably think of $50 or $100 dollar bills; the thought of the (orCanadian two-dollar coin) probably not the first thing to come to mind, yet it is thisparticular denomination, that has made its way into news headlines for the last two to threeyears.

Specifically, the ; the self-explanatory moniker, quickly made apparent,after looking closely at the right forepaw of the polar bear image, located on the reverseside of the bi-metallic coin.

According to Brent W.J. Mackie, Treasurer of the Waterloo Coin Society, and dedicatedresearcher of the , the counterfeit coins were first reported in coin chatsand forums in July 2020, and specimens continue to be discovered in circulation across thecountry up to present-day; the GTA (or Greater Toronto Area) identified, among others, asone of the counterfeiting hotspots.

Counterfeit coins have been found dated: 1996, 2002, 2004, 2005, 2006, 2007, and 2010.

Identifiable characteristics of the consist of the on the rightforepaw previously mentioned, extra lines on the left side of the ice floe, located behind thebear's right hind paw, and font differences on a number of legends and dates.

Others include the omission of the initials (representing the artist Susanna Blunt),usually found on the neckline of the effigy of the Queen on the obverse side, oncounterfeits dated 2004, 2005, 2006, 2007, and 2010, and , less defined initials (for the artist Brent Townsend), on the reverse side.

It is interesting to note, that the number of types and varieties that havebeen identified is so extensive, that Mackie decided to create a user-friendly numberingsystem, to assist with cataloging, which can be found on his webpage cameltoetoonies.ca.

At this point, we may find ourselves asking,

Actually, significant.

Mackie (conservatively) estimates that there could be five million counterfeit toonies incirculation, but the actual number is probably much higher; taking into consideration anoverall saturation rate of 0.5% against a cumulative mintage of genuine toonies issued bythe RCM (Royal Canadian Mint).

The genuine coin on the left versus the counterfeit on the right. Genuine: Fine details of the bear's paws. 2a: The polar bear's paw is misshapen.

In a press release dated May 9, 2022, the RCMP (Royal Canadian Mounted Police) statedthat approximately 10,000 counterfeit toonies were identified and seized, following aninvestigation conducted by the GTA-TSOC (Greater Toronto Area Trans-National Serious& Organized Crime) Section, which resulted in charges being laid against a Richmond Hill,Ontario resident, including and , contrary to Section 452 and 450 respectively, of the Canadian Criminal Code.

The RCMP also commented that .

Perhaps a subsequent question that we may have would be, (Aside from the inherent risk of being involved in unlawful activity andfacing criminal prosecution of course).

Apparently so.

If the cited volume of counterfeit in circulation is any indication, then itmay be a question of , through which production costs on a per-unitbasis decrease, as the output (or volume) increases. In other words, the more you make, thecheaper it becomes to make that product (in this case, each counterfeit toonie).

It is quite likely that we will have to wait for some time, to see where this story ends, whothe criminal author(s) were, and what methods were used to introduce the into circulation, so as to prevent future recurrences.

In the meantime, the next time you are waiting in line for a coffee or beverage (living in, orvisiting Canada), have a look at the two-dollar coin that may be lying innocuously inbetween your pocket change; you may just find the now infamous .

P.S. If you do chance upon a counterfeit toonie, or believe someone has attempted to passalong counterfeit currency to you, as indicated by the RCMP, it should be reported to thelocal police, the Ontario RCMP, or anonymously through Crime Stoppers.

To read the RCMP press release, see:
RCMP investigation leads to counterfeit currency charges(https://www.rcmp-grc.gc.ca/en/news/2022/rcmp-investigation-leads-counterfeit-currency-charges)