Author
Topic: Journey notes being actively withdrawn from circulation?  (Read 3471 times)
Tom-Bear
  • Junior Member
  • **
  • Posts: 44
« on: January 26, 2012, 12:12:04 pm »

While I was at the bank yesterday, in my conversation with the teller it came up that they are no longer allowed to pay out any Journey $100 notes at all. According to him, they are being actively withdrawn from circulation. This was at a CIBC branch in downtown Toronto. I'm curious, does anyone know if this is BOC policy, or CIBC, or just that particular branch?

BWJM
  • Very Senior Member
  • *****
  • Posts: 5,019
« Reply #1 on: January 26, 2012, 01:23:32 pm »

I don't know for certain whose policy it is, but my gut says it would be straight from the Bank of Canada.  It is in their best interests to cull the Journey $100s from circulation as soon as possible.  Once the Journey notes disappear and polymers are all that's left, store owners across the country should have no excuse for not accepting the notes on grounds of counterfeit risks.

I've gotten a quantity of $100 notes from a couple banks in recent weeks and each time, I've observed the staff "dropping" Journey $100s while depositing the polymer notes into the cash recyclers.  The notes I've received have exclusively been polymer notes, and have been well mixed meaning that they didn't come from a fresh bundle.

BWJM, F.O.N.A.
Life Member of CPMS, RCNA, ONA, ANA, IBNS, WCS.
President, IBNS Ontario Chapter.
Treasurer, Waterloo Coin Society.
Show Chair, Cambridge Coin Show.
Fellow of the Ontario Numismatic Association.
friedsquid
  • Very Senior Member
  • *****
  • Posts: 2,879
  • CPMS 1593
« Reply #2 on: January 26, 2012, 05:42:50 pm »

I have unofficially seen a memo that says that $100 notes should be withdrawn, however in a small rural town I have still found it  impossible to obtain only $100 polymer notes.
In fact this last week I made 4 bank visits and from a total of $3700 of withdrawls I had 8 polymers, 27 journey $100's, and 2 birds :)
The good news, the bird was the nicest note of the lot. The polymers looked like crap.  I am thinking that the more you tube videos on how tough the new $100 notes are seem to draw out peoples desire to try to destroy and deface them.
Tears, cigarette burn, permanent marker, hole punch, and a dozen coffee culture
coffee cup logos....Then again it might just be the rednecks in this hick town. Either way, I bet journeys here will be around for a while.



Always looking for #1 serial number notes in any denomination/any series
Seth
  • Very Senior Member
  • *****
  • Posts: 935
« Reply #3 on: January 26, 2012, 07:17:20 pm »

I have heard similar stories for years and remain skeptical of them. To my knowledge, returning old notes ($1s, $2s, $1000s, old series) to the Bank of Canada for destruction is done at the central bank's request, not at their demand. No laws have been passed, no statutes are in force, etc.

Sure some banks may have an internal policy to comply with the central bank's request, but when tellers say "We have to return them by law" I believe they are confusing what their manager is telling them with what the central bank is requesting.

Track your Canadian currency online!

http://www.whereswilly.com
VancouverVaults
  • Newbie
  • *
  • Posts: 2
« Reply #4 on: January 26, 2012, 10:00:27 pm »

I took out $1000 from my credit union yesterday and only received  4 polymer and 6 Journey notes. I am located just outside of Vancouver so maybe it depends on which bank and where you are?
 

Login with username, password and session length