CPM Forum
Canadian Notes => Polymer Series => Topic started by: BWJM on March 04, 2010, 04:42:59 pm
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Bank of Canada to Issue New Bank Notes
OTTAWA, Ontario – As announced in today's federal budget, in 2011 the Bank of Canada will begin to issue a new series of bank notes printed on a polymer material. The new notes will incorporate innovative security features to significantly increase their protection against counterfeiting.
The polymer material will last longer than the cotton paper currently in use, resulting in lower overall production costs and reduced environmental impact.
Source: Bank of Canada (http://www.bankofcanada.ca/en/press/2010/pr040310.html)
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Further details are scarce but a quick call to the Bank indicates that this will be a new series of notes as opposed to the existing Canadian Journey notes on a new material.
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Wow. Kicking and screaming into the 21st Century!
Good to see they are going polymer!
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Maybe the Bank of Canada will ask the people of the CPMF for ideas on what to put on the next series of banknotes. ;D
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I was thinking along those line but more the publics opinion but if the new notes are set for release for 2011 do you think that allows them enough time to get everything together by then?
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Will the CPMF now be called Canadian Polymer Money Forum?
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Will the CPMF now be called Canadian Polymer Money Forum?
That's clever Manada- won't require any change in our acronym (CPMF).
Or should it just be Canadian Money Forum -CMF? We'll still be collecting paper and polymer right? ???
BTW: does anyone here feel that the introduction of polymer will have an impact on our hobby?
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Maybe we will have to change the name for The Canadian Banknote Society.
I think the BOC will print less notes because they will last longer.
I also heard that polymer notes are more fragile than paper notes for creases and other imperfections, but I may be wrong. I'm sure someone with more knowledge in polymer notes could give me the answer.
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Will the CPMF now be called Canadian Polymer Money Forum?
Well since the notes are already not real paper, I guess it's a moot point. ???
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I went through the documents of the budget. Here's what it states in the federal government's official "Budget 2010: Leading the Way on Jobs and Growth"...
Modernizing Canada's Currency
"The Government is taking steps to modernize Canada's currency and protect against counterfeiting. The introduction of a new series of bank notes by the Bank of Canada will begin in 2011. These bank notes will have increased security features and will be printed on a polymer material, which lasts significantly longer than the current cotton-based paper, thereby reducing production costs and the impact on the environment. The Government is also planning to change the composition of the $1 and $2 coins using the Royal Canadian Mint's less expensive patented multi-ply plated steel technology."
On a side note, the Globe and Mail writes:
Thursday, March 4, 2010 4:14 PM
Open your wallets for plastic cash
Steven Chase
Jim Flaherty can't make your dollars go further but he is taking measures to ensure those $10- and $20-bills last far longer.
Canada’s money is going plastic, the Harper government announced in its 2010 budget today. Starting in late 2011, Ottawa will replace Canada’s paper-cotton bank notes – prone to wear and tear – with synthetic ones that last two to three times longer.
The changes are intended save on the cost of printing bills – and create a currency that’s much harder to counterfeit.
Ottawa will rely on a sole supplier – an Australian company – for the polymer bank-note material. In theory, at least, the scarcity of this means fraudsters will be hard-pressed to fake their own notes.
The plastic-feeling bills will also allow the Bank of Canada to design funkier notes – with clear windows in them, for instance – as well as extra, embedded security measures.
Canadians will no longer have to worry that their tens and twenties might dissolve if they mistakenly go through the wash. And the bills themselves are far more indestructible, unless, of course, they are melted by a flame.
Ottawa also announced it will proceed to make cheaper Canadian coins as well, replacing the predominately-nickel based $2- and $1-coins with steel instead. (The mint has already done this for nickels, dimes and quarters.)
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So, based on the Globe and Mail's news, our future notes' materials are made in Australia. I guess we're going with the same polymer supplier as the Bank of Australia. I am not sure if the CBN and BABN will 'print' the Canadian polymer notes with the new designs.
I guess we can call our notes the "Aussie-Eh! Polymer Note". ;)
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CBN printed the Millennium £5 note for the Northern Bank in Northern Ireland back in 1999, so they do have the ability to do the printing on the polymer substrate that was supplied by the Australians.
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CBN also printed an African country's notes (was it Nigeria?) and the notes had problems with the ink rubbing off. Hopefully, they've got that problem licked.
I wonder what happened with the relationship between BOC and Giesecke and Devrient (parent company of BA International). They were supplying the holographic striped/watermarked paper and provided the laser engraved die of Mackenzie-King.
Are we sure that Securency International Pty Ltd is providing the substrate? NRC might have been involved?
John
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CBN printed 500 and 1000 kwacha polymer notes for Zambia in 2003-2007. The initial problem with the ink was addressed fast. From 2008 these two notes are printed by South Africa Bank Note (SABN), also on polymer, and with identical design.
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I suppose that we will now have to develop a new set of grading standards that will be applicable to the plastic notes.
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Here we go. "Made in Canada eh?"
(http://i523.photobucket.com/albums/w359/Punkys_Dad/Kwacha.jpg)
(http://i523.photobucket.com/albums/w359/Punkys_Dad/Kwacha2.jpg)
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Further more, the Globe and Mail added an article in today's newspaper. Here's an excerpt.
"Ottawa will rely on a sole supplier - an Australian company - of the special polymer bank-note material. In theory, the material's scarcity means fraudsters will be hard pressed to create matching notes.
Note Printing Australia Ltd. makes all of Australia's bank notes and is the only polymer bank note producer in the land down under, according to employees reached there last night. The subsidiary of the Reserve Bank of Australia, which issues the notes, uses technology developed by Securency International, "the world leader in secure polymer substrate technology," its website reads.
Australia's bank trumpets the country's polymer notes as being recyclable and durable.
The plastic bills will allow the Bank of Canada to design more elaborate banknotes - with clear windows in them, for instance - as well as extra embedded security measures.
Plastic banknotes, first developed in Australia, tend to cost more than paper currency but the Bank of Canada's Ms. Girard said this country will end up having to print far less bills overall - which is where the savings will accrue."
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With the emission of the new serie on polymer, the signature combination Macklem-Carney should be a short one on paper, especially if there is only "printed in 2011" notes...
But I would not bet my head on a official release in 2011. Remember the Journey's serie, which has been delayed at least two years from its initial schedule...
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With the emission of the new serie on polymer, the signature combination Macklem-Carney should be a short one on paper, especially if there is only "printed in 2011" notes...
But I would not bet my head on a official release in 2011. Remember the Journey's serie, which has been delayed at least two years from its initial schedule...
When were the journey notes first expected? I always thought that the journey notes were scheduled for 2001 and were released on schedule early jan. 01 with no delays.
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I really hope they do something really cool with the notes. Something along the lines of maybe a multicoloured hologram denoting the denomination within the transparent window of the note.
That would definitely be eye catching and very very difficult to counterfeit
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I have a 50 Thai Bhat note I got while in Thailand. It has a clear window with the king in it. I think it's a polymer too. Really nice note. I think it would be cool if our new currency had a clear window with the approprite PM in it.
My question is, does QEII stay on the $20?
:)
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About my previous post, I should have said that the emission of the "improved" serie with the holographic stripe has been delayed since originally, the entire serie would have been made on the "first" paper (used on the 5's and 10's). Maybe not delayed by two years, however (more probably one year).
They changed their mind when they discovered that the counterfeiting wasn't stopped as much as wanted, (it wasn't long before the first counterfeited Journey's notes has appeared on the street) so they had to modifiy the original design of the unissued denominations to accomodate the "new" paper's security features. And later they modified the 5$ and 10$ to complete the serie on the new paper.
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I have a question...
Will the British American Bank note Company (BABN) And the Canadian Bank note Company (CBN) still be responsible for printing the 2011 series notes since polymer notes originate out of Australia?
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I would assume that BAI and CBN would retain the printing contracts. Just because the substrate comes from Australia doesn't mean they're printed there. CBN (at least, possibly also BAI) has plenty of experience printing on polymer.
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It's official. The Bank of Canada has announced new polymer notes for late 2011.
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For those who are interested in HOW the sheet of polymer are made, you can look at this video:
http://www.youtube.com/watch?v=YTggA4jVPj0
Enjoy!
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I have a 50 Thai Bhat note I got while in Thailand. It has a clear window with the king in it. I think it's a polymer too. Really nice note. I think it would be cool if our new currency had a clear window with the approprite PM in it.
My question is, does QEII stay on the $20?
:)
I have the feeling that we will the same people on the same denomination as was the case since 1969...
$5 Laurier, $10 MacDonald, $20 Queen Elizabeth, $50 M King, $100 Borden.
Though it would interesting if they were to change it around a little, or perhaps put new PMs on our notes. Make the $20 blue instead of green, Make the $10 Green instead of purple etc ;D
I wouldn't count on it though, can you imagine the confusion!
Question...
Does anyone think the size of our notes would be reduced?
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I would instead like to get rid of the PMs and put peoples who have made real contributions in the history of the country in different ereas: explorers, inventors, scientists, artists, etc...Australia put many remarkable peoples on his banknotes, New-Zealand too (think about Sir Edmund Hillary on the 5$).
Is the Canada so poor in remarkable peoples that we can't find some to honor our paper plastic money? We can only find old PMs? If we hold so much on old PMs, let put Lester B. Pearson, who got a Nobel Prize (Peace) for his creation of the UN Peacekeepers (Blue Helmets), in place of say, the queen.
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Question...
Does anyone think the size of our notes would be reduced?
No, the size of our banknotes will remain the same.
The Bank recently published an article in the Bank of Canada Review entitled Making Bank Notes Accessible for Canadians Living with Blindness or Low Vision. In it, the author is talking about some of the accessibility features that were under consideration in 1978 when the Birds series was being developed, saying:
Although different-sized notes are often the first-mentioned choice of individuals living with blindness and low vision, and are found in many major industrialized countries, this change would have substantially increased the cost of handling bank notes for most businesses and individuals. Automated banking machines, cash registers, note counting/processing equipment, and even wallets would need to be modified or replaced to handle substantially smaller and larger notes than those currently in circulation.
Source: Bank of Canada (http://www.bank-banque-canada.ca/en/review/winter09-10/samuel.pdf)
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Canadians are so highly politicized these days that any debate on who should appear on the new series of notes will likely cause divisiveness and anger. I'm not saying this to be insulting, just stating what should be quite obvious. Just look at the ruckus that was caused in the past fortnight when it was suggested that the national anthem should be updated with a couple of word changes. Any change to any of our national institutions will be fodder for some political hack to make hay and score points in the polls.
Leave it up to the Bank of Canada. They'll probably do whatever they want without outside consultation anyhow!
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It's unfortunately the case, but probably the best it can be done: let the BoC choose for us and live with it, as they had always done... :-\
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I would instead like to get rid of the PMs and put peoples who have made real contributions in the history of the country in different ereas: explorers, inventors, scientists, artists, etc
Yes- that's a refreshing thought. I think we brought this up before once.
Here's a few candidates (off the top of my head):
Banting/Best
Dr. Norman Bethune
Alexander Graham Bell (though he's really Scottish)
Terry Fox
Anyone else?
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Canadians are so highly politicized these days that any debate on who should appear on the new series of notes will likely cause divisiveness and anger.
You hit the nail on the head with that one. Regionalization and political affiliation have to be pandered to. Look at the PMs on the bills now:
1 from Ontario
1 from Quebec
1 from Nova Scotia
1 foreign born
2 Liberals
2 Conservatives
2 wartime PMs
2 peacetime PMs
the Queen on the remaining bill is a nice bone-toss to the royalists and traditionalists. It's a mix that seems to hang in a delicate balance, trying to please everyone. Tampering with it would definitely open up a big can of worms.
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For those who are interested in HOW the sheet of polymer are made, you can look at this video:
http://www.youtube.com/watch?v=YTggA4jVPj0
Enjoy!
Wow thanks for that very informative link!
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Hey W2W,
I think it wouldn't be much of a stretch replace the hockey scene on our five with a scene of the Olympic gold medal winning goal.
Dei Gratia
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Hey W2W,
I think it wouldn't be much of a stretch replace the hockey scene on our five with a scene of the Olympic gold medal winning goal
I think it's a great idea P D. Why not break completely with tradition since the new polymer series will be completely breaking from the technological tradition of paper?
of for sporting heros, how's
Maurice "Rocket" Richard?
or How about living sports heros?
Wayne Gretzky, Mario Lemieux, Sid the kid?
or Clara Hughes, Nancy Greene, Marylin Bell for the $10?
We have plenty of sporting heros to choose from.
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Throwing sports figures on a postage stamp is fine...but not on our money
Personally I would rather have scenery or animals as opposed to a face that I don't want to look at....every time I pull bills out of my pocket
I rather have the notes depict something artistic as opposed to a human (dead or alive)
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Throwing sports figures on a postage stamp is fine...but not on our money
Hmmm,I'm rather partial to fighters FS.Take George Chuvalo, inducted into the Canadian Sports Hall of Fame in 1990 and the World Boxing Hall of Fame in 1997. He was made a Member of the Order of Canada in 1998 and was awarded a star on Canada's Walk of Fame in 2005.
Arguably Canada's greatest heavy weight to date,yet he has one ugly mug!Would not want to see his face every time I pulled out a $20. Mine on the other hand.............lol
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Maybe we should just put on the Canada's most wanted...that way we can have a new note everytime a criminal is caught....and a new one is posted...
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I would like to put my vote in for RUSH.... a true canadian band ;)
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I would like to put my vote in for RUSH.... a true canadian band ;)
I will second that ;D
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POLYMER BANK NOTES OF THE WORLD
Canada: http://www.polymernotes.org/country_pages/can.htm added
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How about a re-issue of the 1954 series on polymer? Keep the same basic designs, colours, and backs. Put an updated engraving of the Queen on the $20 and the PMs on the other denoms. Throw in a transparent window and a few other modern security features.
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New Zealand has some nice Polymer Notes..
I think we should stay Canadian. Although a lot of people didn't like the Birds Series too much I think Animals would be good.
I wish they would go back to the Old Alegories though.. the 1935-1937 Series ones were amazing. As well as some of the DOC Notes. But those are just "Too Old" now for the new generation.
I like the Canadian Animals ideas..
I know our Coinage has Animals but they make so many 25 Cent Coins and Loonies/Toonies with new Designs ever week it seems they should put some on the notes.
But Hey.. I like Animals on notes.. :) Hence why I collect World Notes with Animals.
But I think a Fiver with a Big Beaver on it would Rock!
Or Even Better... Put a Big Polar Bear Mauling Brian Mulroney on the $10! Lol..
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How about a re-issue of the 1954 series on polymer?
Not bad. How about a "greatest hits" package comprising of one design from each previous series, for each of the remaining denominations.
e.g.
1935/37 $50 Modern Inventions
1954 $5 Otter Falls
Multicolour 1969 $20 Moraine Lake
Birds $100 Canada Goose...or any bird note; they're all equally as bad good.
Journey $5 Hockey Scene
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...
But I think a Fiver with a Big Beaver on it would Rock!
Yeah, that would be really kewl. Take the design of the 5-cent piece and make it into a big black-and-white vignette and put it at the front centre of the $5 note. Together with a strong blue colour around it, I think the design would look great.
Or maybe it's time to bring back the steer head. Anyone who owns or has seen the Merchants Bank of Canada 1917 $20 note (http://www.give-a-buck.com/gallery/460040.html) knows what I'm talking about. Put that vignette on the new $20 note and add the inscription "Will pay to the bearer on demand, NO BULL". :)
Or Even Better... Put a Big Polar Bear Mauling Brian Mulroney on the $10! Lol..
Uh oh, here we go down the slippery slope... >:(
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But I think a Fiver with a Big Beaver on it would Rock!
Or Even Better... Put a Big Polar Bear Mauling Brian Mulroney on the $10! Lol..
Better Mulroney than Trudeau - with a puss like Trudeau's on the $10, it might get confused with the Big Beaver on the $5. Besides, pairing up Mulroney with a polar bear would be a fairer match. It's not like Mulroney can't afford to take one on the chin! ::)
Let's just hope that Prince Charles doesn't succeed Elizabeth II to the throne. It's bad enough we would have to make the $10 note wider to accommodate Mulroney's chin; we wouldn't have to make the $20 note longer to accommodate Prince Charles's ears. :-X
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Since were all having a little fun with this how about this one...
In the past 2 years with the collapse of so many banks world wide and with our Canadian politicians bragging and gloating over how well we run our banks ( and giving advise to other countries) that we put our top 5 Banks on our currency!!!
$5 BMO
$10 RBC
$20 TD
$50 CIBC
$100 Scotia
Funny how it works out! lol
***This is only to have fun*** :P
MG
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I like the beaver on the fin.
Scoring which goal? Lemieux from Gretzky in 86, Henderson 72, Sid 2008? How about all of them?
Henderson $10
Lemieux/Gretzky $20
Iginla/Sid $50
Clara Hughes $100 (Not hockey, but in my mind canada's greatest athlete)
:)
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Since were all having a little fun with this how about this one...
In the past 2 years with the collapse of so many banks world wide and with our Canadian politicians bragging and gloating over how well we run our banks ( and giving advise to other countries) that we put our top 5 Banks on our currency!!!
$5 BMO
$10 RBC
$20 TD
$50 CIBC
$100 Scotia
Funny how it works out! lol
***This is only to have fun*** :P
MG
BMO only gets the piddly $5 note?!! I work for BMO; it was Canada's first bank and even issued the Province of Canada's notes in 1866 - let's give BMO the $100 note! And no, I'm not trying to get myself a higher bonus for this year-end... :-X
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lol it's only beacause BMO's color is blue ;)
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At first I was going to denounce the idea of putting Scotiabank on the $100 bill, but considering the colour of that note is brown...
8)
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Are you kidding me??
Then the banks would charge you a 5% Fee to withdraw money. Trademark Fee for each note produced passed down to the customers... lol.
Besides depending on which bank you deal with you would only be able to get that Denomination from that Bank. Like CIBC would hand out BMO Notes..lol.
Well they would I guess but expect a Service Fee. :)
Imagine going to Scotia to Withdraw $20. Sorry sir.. we only hand out $100 notes.. :)
You know they would...
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In the past 2 years with the collapse of so many banks world wide and with our Canadian politicians bragging and gloating over how well we run our banks ( and giving advise to other countries) that we put our top 5 Banks on our currency!!!
MG - I can't believe you'd want to play into the hands of our power-brokers!
I'd rather have our favourite consumptions:
Beer - $5.00
TH coffee - $10
Donuts - $20
Maple Syrup - $50
Poutine - $100
(And since they're polymer there'd be no problem over salivating on them!)
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Beer - $5.00
TH coffee - $10
Donuts - $20
Maple Syrup - $50
Poutine - $100
What? No butter tarts? Put the TH coffee and the donuts together on the $10 and have a nice thick butter tart on the $20. And a salivating QEII looking right at it.
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Maybe the BOC's new issue should be the "Health & Education" series:
$5 - symptoms of stroke and/or heart attack and what to do
$10 - the four food groups and how many servings you need of each
$20 - how to handle stress
$50 - how to do a budget
$100 - the cost of using credit products
Since people use money practically every day (granted - debit and credit cards are used far more often), why not have practical information on it?
Obviously the information would have to be very brief, since it would need to appear in English and French, but there could be a website included to find more info :)
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$5 - symptoms of stroke and/or heart attack and what to do
$10 - the four food groups and how many servings you need of each
$20 - how to handle stress
$50 - how to do a budget
$100 - the cost of using credit products
The series would not be complete if you did not include:
$300 - recognizing counterfeit currency
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The series would not be complete if you did not include:
$300 - recognizing counterfeit currency
I think it should also include the $500 and $1,000.
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I am interested on everyone's thoughts about the new plastic money. Will it affect the paper money value as this brings to an end this area of our hobby. Any new money will be plastic..Also when is this plastic money coming into circulation... Thanks...Sammi
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I am interested on everyone's thoughts about the new plastic money. Will it affect the paper money value as this brings to an end this area of our hobby. Any new money will be plastic..Also when is this plastic money coming into circulation... Thanks...Sammi
I have heard the new polymer notes are suppose to appear in late 2011 or early 2012. It will be interesting to see how successful their introduction will be if production and quality control is a factor or not...Maybe we can pick up some nice errors before they totally iron out all the bugs.... :)
I assume that the paper notes will still be around for some time even when the polymer notes are being circulated. I don't think the BOC will start burning perfectly good notes that have already been printed, but I could be wrong...Who knows what is going to be destroyed when the time comes.
As for value of paper money in our collections, I don't see it being a concern since people will still be collecting paper long after it is gone...Maybe it will even get things moving again where collectors want to get the notes they don't have before they become extinct from circulation and are harder to come by....Only an opinion..
FRIEDSQUID
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Due to the polymer notes are more durable, I have heard from collectors saying that new notes/prefixes will be coming out very slow. That makes it very difficult for searchers and collectors to pick up new notes, replacements, new prefixes etc...
This would be very discouraging for a lot of collectors in future Many will give up the hobby ???
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Due to the polymer notes are more durable, I have heard from collectors saying that new notes/prefixes will be coming out very slow. That makes it very difficult for searchers and collectors to pick up new notes, replacements, new prefixes etc...
This would be very discouraging for a lot of collectors in future Many will give up the hobby ???
This makes sense, but from what I see in my area is that even with the current Journey series I can get stuck on a prefix or two for literally months and have actually ordered a block one week and the next block I ordered a week later was in sequence....I am assuming that there is not a lot, if any new bricks being sent to banks or anywhere else for that matter from the depot where my bricks come from. Obviously this is not only frustrating, but costly when you don't seem to get anything new month after month...
There has been a time not that long ago that AOV AOW and AOZ where all I got, and to date have not ever received a brick with prefix past AAB......
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That makes it very difficult for searchers and collectors to pick up new notes, replacements, new prefixes etc...
This would be very discouraging for a lot of collectors in future Many will give up the hobby
I am not sure I agree with the logic of this assumption. First- it may be frustrating for searchers but it may just make collectors re-focus on what they collect. I won't be surprised if there are a few short prefixes, and perhaps some anomalies/errors or "Bugs" to iron out (as friedsquid suggests) in the new issue. There maybe a few people really turned off by the prospect of the new notes (as happened with the 1979 issue and even a bit with the Journey- a lot of collectors thought they were ugly) and this could catch some off guard with short prefixes, and mix ups in production. It's happened before- why couldn't it happen again?
I'd be more surprised (& disappointed) if everything (production/prefix release, etc) worked like clockwork and the new issue was executed to perfection! What I am suggesting are all "what if" possible scenarios- but it could be more likely that the phasing out of paper will be more interesting (rather than boring and sad!)
Personally, I've had a a few friends ask me what I think about collecting paper money (what to collect, etc)- people who were never interested in it prior to the news that polymer will be replacing paper soon. I think that the new technology will temporarily revitalize the hobby since more people will be interested (just by virtue of the fact that paper is being replaced by polymer). If we just had half as many collectors of coins join the ranks of paper money collectors it would be a huge boost to the hobby. This may cause a peak of interest around the transition period- which could likely fizzle out as the polymer notes become "convention" rather than novelty.
On the other hand, it may also make world note collectors be more aware and interested in Canadian paper money, and this could benefit anyone who is interested in collecting older issues. I believe the recent surge of interest in Devil Face notes is more a factor of world demand rather than national demand but I may be wrong.
IMO:
The general rule is that the older stuff will rise in value while the recent stuff will remain flat since more people (regular collectors plus newbies) will be holding on to recent notes. The older stuff will become more registered and considered more "finite" and desirable. However, there will always be exceptions to that rule- particularly regarding short prefixes or newly discovered errors/anomalies/or change ups in design etc (which may have surges in popularity).
I'm sure most of us "die-hards" will be watching closely! 8)
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How can we get Canada to issue notes like these? WOW!
Check out item #290440856068
I like how it says "great looking" notes.
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How can we get Canada to issue notes like these? WOW!
LOL, yes, those are quite the notes. ::)
Whatever happened to the photoshop mockup of a "Journey series $2 note" that somebody here (Brent?) cooked up several years ago? That was a good looking note!
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Due to the polymer notes are more durable, I have heard from collectors saying that new notes/prefixes will be coming out very slow. That makes it very difficult for searchers and collectors to pick up new notes, replacements, new prefixes etc...
This would be very discouraging for a lot of collectors in future Many will give up the hobby ???
I don't know about collectors giving up because they don't have easy access to key notes. Maybe some collectors have been spoiled and the new series will add more of a challenge, meaning key notes will command a stronger premium than before. Collectors come and collectors go for a variety of reasons, so I wouldn't panic just yet.
One thing I'm wondering about now that it is a given fact that we will have a new series is whether all or most of the Journey notes that were printed in the past couple of years will be issued. As you may or may not be aware, the bank note printers really cranked out $20 notes. In particular, CBN printed all of the following prefixes in 2008: ELU-ELZ, ERA-ERZ, and EUA-EUJ. They continued to make new prefixes in 2009. To date, some of these prefixes are hard to locate, and a check of the SNDB numbers indicate less than 5 examples recorded for a number of prefixes. These numbers will rise, but the possibility exists that some prefixes will never reach circulation in big numbers. A lot will depend on what the Bank of Canada wants to do. If they want to make a quick introduction of the polymer notes into circulation, they are not going to push all the Journey notes in reserve into circulation first. That would be defeatist, meaning they would have to withdraw a lot more notes in a shorter time frame. A slower introduction of polymer would allow them to exhaust their reserves of Journey notes, but that decision depends on how badly the Journey notes are being counterfeited, among other variables. My best guess is that fewer new Journey notes will be released over the coming year, and those notes already in circulation will be allowed to wear out, meaning the withdrawal phase may already be in its first stage. Who knows for sure?
So we could be looking at a potential boon for collectors if we have another episode of the "lost prefixes". I'm not trying to fuel speculation. What I am saying is that we're REALLY lucky to have the SNDB because that kind of information is going to be absolutely priceless as the Journey series winds down.
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I would have to agree that collectors will still continue to do what they are currently doing. I think it’s easy for most of us to think that certain things will have a much greater impact then what they will actually be. I personally don’t believe that notes will be harder to find. I would think that in theory if they print 1/3 of the notes they currently print we have more than enough notes to go threw and this doesn’t account for the natural increase in demand for notes year over year. I’ve recently been going threw some numbers for myself trying to get an average estimate of Bricks searched for the Journey Series. From my own numbers and speaking with a few key people at best over the past 7 years of Journey notes I would be surprised if the total Bricks searched would exceed 1%. This would also include back in 2006 when the impression was that everyone including their neighbors went threw Bricks. So if bank notes are to last longer and less are printed there are still a ton of notes to go threw. In theory we could find even more notes.
Anyways, I find these times to be very interesting in collecting since a change in series doesn’t happen very often. :)
MG
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It's about time they switched to Polymer banknotes. Not only would they combat counterfeiting, but they would also be helpful to the environment. Not to mention they will help the economy by saving on printing costs.
However, I wonder what the serial numbering format will appear to be like when they come out? Will they keep the traditional 3-letter prefix system (which has been used for nearly 30 years now)? Or will they convert to a totally different serial numbering system (like all numeric or something)?
Either way, it is spectacular news for Canada's currency system! It's long overdue they decided to release them!
Thanks
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It's about time they switched to Polymer banknotes. Not only would they combat counterfeiting, but they would also be helpful to the environment. Not to mention they will help the economy by saving on printing costs.
I agree. Let's make our next series of folding notes out of material from the Canadian oilsands. That would be hundreds of times more ethical than buying middle east blood oil.
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Helpful to the environment?
Wouldn’t that be great, a polymer note made of biodegradable plastics, lol
The magic of money - Watch you collection disappear right before your eyes :o
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perhaps they will be a paper/polymer hybrid note like having a polymer window i a paper note containing a hologram
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[edit]Post removed because purple monkey dishwasher - mmars[/edit]
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Have a look at this link; -
http://www.securency.com.au/en/advantages-of-polymer/environmental
For the question of recycling polymer notes, it's basically converting from cash to cabbage bins LOL!
Durable? - I can still find polymer notes printed say in 1996 in circulations; However Vietnam has been reprinting almost all denominations every years since adopting polymer notes;
Counterfeiting - Not sure on that but it appears the rate has dropped. Same thing happened in New Zealand too since adopting polymer in 1999;
I guess you guys are pretty excited to see the new polymer notes to be issued next year. As a collector, me too.
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Out with the Old, In with the New
SooNews Staff for SooNews.ca
Monday, July 19, 2010, 7:34AM
In the not-too-distant future you'll step up to an ATM, withdraw cash to buy lunch, and be surprised at what the machine dispenses. No, it won't be a much larger amount than you requested. It'll be brand new polymer bills.
Your first experience handling polymer notes will no doubt be exciting. You'll keep running your fingers across the smooth, light-weight film.
The introduction of polymer notes will mark the end of an era. Beginning late in 2011, we will start to bid farewell to paper bills. As the polymer series is phased in and older notes are removed from circulation, paper money will become less and less common. There's one for the Canadian history books.
Someday you'll tell your grandchildren, "Back in my day, money was printed on paper," and they'll react in disbelief.
Paper has served us well for a very long time. The Bank of Canada's notes have been printed on paper since its first series was issued in 1935. As continual improvements were made to security printing from one series to the next, the paper held up.
Our current Canadian Journey series bank notes incorporated new security features right into the paper. For the first time ever, Canadian notes contained a ghost image (watermark) and a woven security thread that appeared as metallic dashes on the back of the notes. The other new and most visible security feature was a colour shifting metallic stripe.
Did You Know?
Since the current series was introduced, counterfeiting rates have dropped dramatically. In 2009, the number of counterfeits passed in Canada dropped by 88 per cent when compared to 2004 levels. The security in the Canadian Journey notes, combined with increased note verification at the cash register, are largely responsible for halting the fraudster's ability to reproduce a passable fake.
But in the Bank's efforts to stay several steps ahead of counterfeiters, change is coming. And it's great for Canadians.
CHECK TO PROTECT - SECURITY FEATURES IN CANADIAN JOURNEY SERIES BANK NOTES (with metallic stripe)
T.I.L.L.
Touch the front of the bill. The ink in the large number, the portrait, and the words BANK OF CANADA - BANQUE DU CANADA along the left edge feel thicker.
Tilt the bill. Check the colour shifts in the metallic stripe on the front and the dashes on the back.
Look through the bill. Hold it up to the light to check the ghost image, puzzle number, and dashes forming a solid line.
Look at the appearance and action of each security feature carefully.
http://www.soonews.ca/viewarticle.php?id=27010
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The Senate of Canada
Order Paper and Notice Paper
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Issue 50
Tuesday, September 28, 2010
2:00 p.m.
No. 57. (five) (motion)
June 22, 2010—Resuming debate on the motion of the Honourable Senator Joyal, P.C., seconded by the Honourable Senator Banks:
Whereas the $5, $10 and $50 Canadian banknotes represent Sir Wilfrid Laurier, Sir John A. Macdonald and W.L. Mackenzie King respectively, and whereas each of these bills clearly mention in printed form their name, title and dates of function;
Whereas the 20$ banknotes represent a portrait of H.M. Queen Elizabeth II but without her name or title;
The Senate recommends that the Bank of Canada add in printed form, under the portrait of Her Majesty, the name and title of H.M. Elizabeth II, Queen of Canada, to the next series of $20 Canadian banknotes to be printed.—(Honourable Senator Di Nino)
http://www.parl.gc.ca/40/3/parlbus/chambus/senate/orderpaper/ord-e.htm#ORDERS
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Interesting to see that the $100 note was not mentioned in the motion. Not sure why the delay. >:(
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I'm sure there aren't any senators who have seen a $100 note recently to know if the inscription is there or not. Senators, like most Canadians, only see whatever notes come out of the ATM, I'm sure.
Still, it's nice to see that currency is on the minds of our parliamentarians. If only they would get moving on eliminating the penny.
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Currency
Bank’s strategy to maintain confidence in bank notes:
- Develop bank notes that are increasingly more difficult to counterfeit
- Increase the routine verification of bank notes by retailers
- Maintain the high quality of bank notes in circulation
- Promote counterfeit deterrence by law-enforcement officers and prosecutors
Currently developing Canada’s next bank note series, expected to be introduced in late 2011 (latest design, using state-of-theart anti-counterfeiting technology launched in 2004)
http://www.bankofcanada.ca/en/speeches/2010/presentation_150910.pdf
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14 November 2011
Ceremony
Mark Carney, Governor
Official ceremony to issue the new $100 bank notes
Toronto, ON
13:00
Details will follow in a media advisory.
http://www.bankofcanada.ca/media-room/upcoming-events/
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Bank of Canada to Begin Circulating New $100 Polymer Bank Note
OTTAWA – The Bank of Canada will begin circulating the new $100 bill – Canada’s first polymer bank note – on Monday, 14 November 2011. The new $100 note, which celebrates Canada’s contributions to innovation in the field of medicine, will be featured at an official event taking place in Toronto, Ontario, at the MaRS Centre – a hub for public-private sector innovation and collaboration between the business and scientific communities.
Speaking at the event will be Mark Carney, Governor of the Bank of Canada, and Dr. Ilse Treurnicht, Chief Executive Officer of MaRS Discovery District.
Audio and video webcasts of the event will be available on the Bank's website. At the conclusion of the event, members of the media will have an opportunity to meet with experts to find out more about the various features of the new bill, participate in a tour of the MaRS Centre and purchase a $100 new polymer bank note.
http://www.bankofcanada.ca/2011/11/media-advisories/bank-of-canada-begin-circulating-new-100-polymer-bank-note/
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Quote
"Since 1991, 14 November has been designated World Diabetes Day by the International Diabetes Federation and the World Health Organization − a fitting date on which to issue a new Canadian bank note celebrating medical innovation, given that Canadians played a key role in the discovery of insulin as a treatment for diabetes." and unquote
One can even argue that this can be viewed as a 'Commemorative' note too.
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Regional events have been announced for the November 14th launch (press credentials required to attend):
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Regional Events:In addition to the national issue ceremony, a series of regional media events will take place on Monday, 14 November. Bank of Canada Senior Regional Representatives across the country will have examples of the new $100 note and will be available to answer questions.
BC/Yukon Region: At 10:15 (Pacific Time), media are invited to attend an event at the University of British Columbia’s Life Sciences Institute, 2350 Health Sciences Mall, Vancouver, British Columbia.
Prairies Region: At 12:30 (Central Standard Time), media are invited to attend an event at the University of
Saskatchewan’s International Vaccine Centre, 120 Veterinary Road, Saskatoon, Saskatchewan.
Quebec Region: At 13:15 (Eastern Time), media are invited to attend an event at the Institut de recherches cliniques de Montréal, 110 avenue des Pins Ouest, Montréal, Quebec.
Atlantic Region: At 14:15 (Atlantic Time), media are invited to attend an event at the Dalhousie University Life Sciences Research Institute, 1344 Summer Street, Halifax, Nova Scotia.
http://www.bankofcanada.ca/2011/11/media-advisories/bank-of-canada-begin-circulating-new-100-polymer-bank-note/