The E-Sylum:  Volume 10, Number 47, November 18, 2007, Article 22

CANADA CONSIDERS ISSUING A $5 COIN

Dick Johnson writes: "Resolved:  Canada should issue a $5
circulating coin. The debate is heating up. Editorial
writers across the land are weighing in.

"A CanWest News Service article published November 10, 2007,
reports the Bank of Canada prepared a report in 2005. It
used several theoretical financial models to analyze the
country's coin and banknote system. The models considered
such alternatives as elimination of the cent coin, introduction
of the $5 coin, and issuing a $200 bill.

"One model, called Boeschoten, concluded that a $5 coin
would be needed between 2009 and 2020, 'given the price
level and other factors would be consistent with the
historical shift from notes to coins at other denominations.'

"In favor of the $5 coin is Francois Dupuis, vice-president
and chief economist of economic studies with the Desjardins
banking group. He had earlier recommended eliminating the
cent. He called for this to happen first prior to the $5 coin
in a strategy that must maintain the ideal number of
circulating coins.

"The article stated: 'The decision to change any part of
the country's currency rests with the Department of Finance,
which would consult the Bank of Canada and the Royal
Canadian Mint.'

"In opposition to this was an editorial writer in the Halifax
Daily News who wanted to maintain the status quo under the
headline: A $5 Coin? No, thanks.' "

To read an article IN FAVOR of the $5 Canadian coin, see:
Full Story

To read an article AGAINST $5 Canadian coin, see:
Full Story

  Wayne Homren, Editor

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