A recent investigation into counterfeit toonies has revealed a troubling influx of fakes into Canada’s coinage system. In this second instalment of Jesse Robitaille’s series, numismatist Mike Marshall sheds light on a shipment of 10,000 counterfeit $2 coins intercepted by border officers in Québec – a discovery that may just be the tip of the iceberg.
Marshall, a well-known expert on Canadian counterfeit coins, shared details of the seizure and its implications for the hobby and the broader economy. The coins – dubbed “Double Dollar” or “Double Canada” fakes – are distinct for their unusual design errors, including the repeated “CANADA” and dollar sign on the obverse. Though police say these coins never entered circulation, tens of thousands remain unaccounted for, sparking concerns among collectors and authorities alike.
Equally alarming is the backstory of Chinese Canadian businessman Daixiong He, who was caught distributing another popular fake known as the “Camel Toe” toonie. Marshall’s research suggests He deposited over $3 million worth of these counterfeit coins in various Canadian banks, yet astonishingly, they were never checked by the Royal Canadian Mint. He escaped jail time by paying a fine that exactly matched the face value of the seized fakes.
As the saga unfolds, the third part of this series will delve into the earliest wave of counterfeit toonies linked to a so-called “Montréal Mint,” which first emerged in 2004. More recently, a new 1999-dated “Nunavut” fake has been discovered in Ontario, suggesting counterfeiters are still active and adaptive in their craft.
For more on this fascinating story, including exclusive images of the seized counterfeits and Marshall’s insights, read the full feature in the latest issue of Canadian Coin News. Click here to subscribe now.