Author
Topic: New $10 Polymer Bank Note featuring civil rights icon Viola Desmond  (Read 2954 times)
robb4640
  • Junior Member
  • **
  • Posts: 29
« Reply #45 on: November 29, 2018, 06:53:15 pm »

In addition to yesterdays post, I was able to go through 7 bundles of the new 10's at the TD today,  all were FTY29.......
The notes are well mixed up with small runs of sequential then changes to a different run for a bit.  No special numbers or even close to a radar in all 7  bundles.

AJG
  • Junior Member
  • **
  • Posts: 34
« Reply #46 on: December 06, 2018, 06:16:56 am »

It appears that not very many cities have banks that have the new $10 bill yet.  Even more odd, there have not even been any reports of any new $10s in Halifax, which was Viola Desmond's hometown.

I get the feeling that a lot of banks decided to discontinue ordering $10 bills because of low demand, and/or, as walktothewater stated, the banks had stockpiles of $10 bills from the previous series for an extremely long time, having a hard time going through them, implying that no customer wants any because of being deemed redundant these days.

It makes sense as to why there is very little demand for $10 bills in Newfoundland these days.  Inflation is likely the driving force.  The only reason we had demand for $10 bills during the 2000s, was because the cost of a fast food meal was under ten dollars including taxes.  A Big Mac meal at McDonald's in Newfoundland may still be less than $10 with taxes, but if it doesn't exceed $10 with taxes now, it will pretty soon, and banks decided to stop ordering $10 bills to be ahead of inflation.

It's also possible that low demand denominations are more expensive to order than the higher demand denominations.  The $10 bill is the lowest demand of all existing banknotes in circulation, and the cost to order them may be quite high, that the banks realize that they can order the same amount of money, or a greater amount of money, in $5 bills for a cheaper rate.  In this case, it's obvious that the banks will go with the cheaper option.  $5 bills are preferred by banks due to the high number in circulation, and it may be economical to order twice as many $5 bills as opposed to fewer $10 bills.

Though no longer being issued, $1,000 bills were never ordered by banks in Newfoundland, and it's possible that the drastically low demand plus being extremely expensive to order is what caused banks to stay away from them.
Rupiah
  • Very Senior Member
  • *****
  • Posts: 806
« Reply #47 on: December 06, 2018, 11:06:45 pm »

Is anyone willing to share where the FTZ were found?

Also during the ceremonies on November 19, 2018 and in the photos that are put up on the Flickr by BoC they are showing all FFB.

I hope FFB is not going to be like EKZ which was widely shown in the promotion material by BoC but then nothing in circulation.

Wonder what paper money would say if it could talk?
AJG
  • Junior Member
  • **
  • Posts: 34
« Reply #48 on: December 07, 2018, 08:48:36 am »

If FFB is given the same treatment as EKZ and BSW, chances are, FFA will likely fall victim as well.  If this is true, chances are that demand for the $10 bill is drastically low now, thanks mainly to inflation, and the demand that exists may be getting closer to 1980s $100 bill levels now.  During the 1980s, there were very few prefixes for $100 bills released in a year, as opposed to many today.

If only FTW and FTY are seen so far, it may be possible that we may get FTZ as the final circulating prefix of this current run, implying that demand is drastically low now, and banks are receiving very limited quantities of $10 bills now, if any are still ordering them.
Rupiah
  • Very Senior Member
  • *****
  • Posts: 806
« Reply #49 on: December 07, 2018, 06:17:05 pm »

Well it seems like FFA has been entered. Could someone share the information as to where it was found?

Wonder what paper money would say if it could talk?
Beatrix
  • Junior Member
  • **
  • Posts: 57
« Reply #50 on: December 08, 2018, 12:28:46 am »

Didn't I read here somewhere that the BoC is declining to cull the previous series in the same way that they have in the past? If they're letting the 2013 10s continue to circulate freely, then the demand for new bills is going to be a lot lower than before simply because they're not trying to replace as many.
robb4640
  • Junior Member
  • **
  • Posts: 29
« Reply #51 on: December 08, 2018, 03:00:41 am »

Hopefully the Admins will change the setting so we can see where the high/low notes are located.  Even if just the City/Province is shown.

wagnert89
  • Junior Member
  • **
  • Posts: 89
« Reply #52 on: December 08, 2018, 08:27:37 am »

I went through some bricks and they were consecutive numbers with the occasional note removed (like the 2017 $10).  Prefix FTY.  No interesting serial numbers.
« Last Edit: December 08, 2018, 08:31:53 am by wagnert89 »
Rupiah
  • Very Senior Member
  • *****
  • Posts: 806
« Reply #53 on: December 08, 2018, 11:10:30 am »



I get the feeling that a lot of banks decided to discontinue ordering $10 bills because of low demand, -----.

It makes sense as to why there is very little demand for $10 bills in Newfoundland these days-----.

-----The $10 bill is the lowest demand of all existing banknotes in circulation, -----.



I am not sure about what the reality is about the $10 bill. But most certainly when the BoC decided to put the BANKnotable woman on the bank note they chose $10 - Here is the official text from BoC which to me does not sound that it is consistent with $10 being low use:


Quote
Why was the $10 note chosen to feature Viola Desmond?

The $10 note is more readily used by Canadians and exchanged more frequently than higher value notes. This makes the $10 a good choice for featuring Viola Desmond.


-Bank of Canada


Source:

https://www.bankofcanada.ca/wp-content/uploads/2016/12/backgrounder-canadian-woman.pdf

Wonder what paper money would say if it could talk?
AJG
  • Junior Member
  • **
  • Posts: 34
« Reply #54 on: December 09, 2018, 03:54:05 pm »


I am not sure about what the reality is about the $10 bill. But most certainly when the BoC decided to put the BANKnotable woman on the bank note they chose $10 - Here is the official text from BoC which to me does not sound that it is consistent with $10 being low use:



Source:

https://www.bankofcanada.ca/wp-content/uploads/2016/12/backgrounder-canadian-woman.pdf

Maybe the BoC based their claim on Ontario demand or something.

The $10 bill may be used by Canadians more than $50 or $100 bills, but it is possible that most of Canada has greater demand for $10 bills, but not in Newfoundland - yet.  Plus there are way more $5 bills than $10 bills, more because $5 bills are needed for change.

$10 bills are not commonly given out as change anymore possibly because of store policies that can only allow minimal cash (usually $50, in $5 bills and coins) in their tills at a time, and anything greater than $5 bills are put away, never touched again until they're ready to bring to the bank.
Rupiah
  • Very Senior Member
  • *****
  • Posts: 806
« Reply #55 on: December 12, 2018, 07:11:11 pm »

Hopefully the Admins will change the setting so we can see where the high/low notes are located.  Even if just the City/Province is shown.

Reported FFA5059814 in GTA.


Wonder what paper money would say if it could talk?
Rupiah
  • Very Senior Member
  • *****
  • Posts: 806
« Reply #56 on: December 15, 2018, 10:20:00 pm »

Its been almost a month since these notes started to officially circulate.

In the GTA area I have not found a single ATM (these are the ones that accept cash without envelopes) among approximately 20 different locations and 3 Financial Institutions tried that will accept the Vertical $10.

Interestingly enough I found  ATMs at four of the locations dispensing the Vertical $10 (but not accepting them).

I have only found large financial in-branch recyclers that are as of last week accepting the new Vertical $10s. Two other institutions that I tried including some of their flagship branches were still not accepting the Vertical $10s.

I find this rather strange given the hoopla behind the unveiling in March 2018 of this note and then putting it into circulation on November 19, 2018. Can the machines not been programed before such a release into circulation?

Any other experiences in this regard?

Wonder what paper money would say if it could talk?
walktothewater
  • Very Senior Member
  • *****
  • Posts: 1,078
  • Join the Journey
« Reply #57 on: December 16, 2018, 03:49:44 pm »

TD's in Burlington are dispensing new $10 but I'm not sure if they're accepting them (they still do not accept $10 as of Dec 18/2018).  TD staff seem far more positive towards the new notes than BMO staff but again that's such a subjective observation. 

BMO's internal machines started accepting them just last week (TD's internal machines were up-to-speed much sooner).  I don't think BMO ATM's dispense $10 so likely they won't accept them (but I could be wrong). 

Everyone seemed OK with the fact that there would be a delay in their machines being updated for the new $10.
« Last Edit: December 18, 2018, 04:50:28 pm by walktothewater »
AJG
  • Junior Member
  • **
  • Posts: 34
« Reply #58 on: December 27, 2018, 12:30:26 pm »

The new $10s have been released more than a month ago, and as of lately, they are very hard to come by in Newfoundland, where I live.  In fact, they're very hard to come by in many places in Canada, it seems; otherwise there would be been plenty of finds by now.

I wonder if banks ordered a limited quantity of the new $10 bills just as a trial run to see if there is enough consumer interest in the new bill, and if there is enough interest, they would order more at a later date?  If so, it seems as if there is very little consumer interest in $10 bills anymore, and it makes sense, since most of the $10 bills I see in my change are strictly the Sir John A. MacDonald types, and the Viola Desmond $10 bills may end up being very scarce and hard to come by.  If this happens, I can see what will likely happen in some years' time - the Bank of Canada will likely cease printing $10 bills quietly, but unlike the $1 and $2 bills, any existing $10 bills will circulate freely until they reach the end of their life cycle, after which they will be quietly phased out.

I did visit a Scotiabank branch a few weeks ago, and the teller told me they did get the new $10 bills, but they were mixed in with many of the MacDonald $10 bills.  I am thinking only the two main branches (downtown and a major shopping mall) got bundles of the new $10s, if in very limited quantities.

During this length of time, I only got three of the new $10 bills, but in my change all at the same Sobeys location I go to.  It's very hard to receive a $10 bill in my change nowadays, and I'm lucky that Sobeys is the only place in my neighborhood that gives out $10 bills in change.  Either way, I think the $10 bill is likely on deathwatch in a few years' time.
 

Login with username, password and session length