It's a PL coin and the PL coins in the mint sets look just like regular plated issues. The only way you can tell the difference is with the W mintmark.
That one IS tough, I'll give you that. I had a mint set with the new effigy this year and the Loonie was so baggy it looked like it had already seen some time in circulation.
Why did the RCM do so many designs this year??? I know that they have been set happy the last few years but they have been limiting themselves to 2 versions lately.
R.I.P. Wayne, Brad Collecting: Conder tokens 19th & 20th Century coins from Great Britain and the Realm
They are trying to save money by switching the metals. Some days it is cheaper to mint the old metal and others it is cheaper to mint the new plated blanks. It also could be because production, of the plated blanks, is not keeping up with the mint demand.
Comments
The P has always been under the bust on the obverse.
Collecting:
Conder tokens
19th & 20th Century coins from Great Britain and the Realm