CPM Forum
Canadian Notes => Polymer Series => Topic started by: AJG on June 12, 2025, 06:46:35 am
-
I have noticed something very interesting lately. On the SNDB, in the section that lists new prefixes reported in the last six months, there was nothing new reported in 2025, and unless something new is reported by June 23, that section on the SNDB will be empty for the first time since the database was launched - come June 24.
But I wonder what could be causing the lack of new prefixes so far this year? Could it be because the vast majority of Journey notes are fully replaced across the country (that could explain the drastically small number of Rogers-Macklem $100s reported so far, and maybe all of the older $50s are fully replaced now), and/or could it be because, due to the trend of closing down bank branches across the country plus much lower demand for physical currency, the older notes that are sent back are not being replaced and are instead being written off?
I can sense that, by the end of the decade, bank branches will only be prevalent in urban locations.
Regarding prefixes that are new to Newfoundland (where I live), I have discovered several FZA $20s in the 5-million range lately. So maybe they're finally releasing the FZ* prefixes in my province after going through the FY* run at a snail's pace, and I am afraid that, when the King Charles $20s gets released, my province may still see fresh $20s with the Queen on them for many, many years afterwards.
-
Physical cash will eventually disappear. Of course the pandemic helped to accelerate this, the trend continues that there is and less cash being used daily as we are going more and more digital. Even Canadian Tire stopped their physical currency and went digital five years ago.
-
I agree. Especially since I did read articles that mention something about the Bank of Canada in the process of developing digital currency, and I believe I read that the Bank of Canada's Deputy Governor Carolyn Rogers is likely working on it.
Another article suggested that digital currency was one of Pierre Poilievre's goals if he was to be elected - and maybe Mark likes his idea.
Imagine if digital currency was to become the new format down the road. It would mean no more new serial number prefixes to look forward to.
I'd say, if digital currency becomes reality, I think the Bank of Canada will likely allow the banks branches a certain amount of time - enough time, at that - to clear out as much of the existing inventory of unreleased banknotes - it will likely not be a complete recall in one swoop.
And it could be possible that the new $20 with King Charles on it, and eventually a new $5 with Terry Fox on it, may end up having a short life - possibly as short as the Frontiers $10 note.
Now, one other possibility came to my mind. In order to combat inflation, could it be possible that the Bank of Canada's years-long printing spree may be suspended for a while?
I believe there is only $100 HJJ, and the $20s with FLB through FLH, yet to be issued of the last printed banknotes (I suspect that range of $20s may likely be Rogers-Macklem). I suspect that the first printing of Rogers-Macklem $100s is likely a very short run covering HJH through HJM, otherwise I would have heard tell of HJN and beyond by now.
-
Well, it looks like the recently reported prefixes table is empty as of today. This is definitely a first for the SNDB.
I am also wondering one other thing too. Does anybody suppose the lack of new prefixes so far this year could be due to cooling inflation this year, or could it be due to a realization that many banks have an outstanding inventory of unreleased Lane-Macklem notes and even Carolyn Wilkins-era banknotes? In fact, in Newfoundland, where I live, any new banknotes I see are strictly Wilkins-Poloz notes. And when banknotes are being trickled out, it likely means they're likely mixing them in with recycled banknotes.
Or, could the tariff wars between Canada and the U.S. be another reason, even though there are reports of 2025 minted coins being issued now.
But either way, regarding $5 notes, I don't see very many $5s in the HB* series, though strangely enough I did receive an HBK in my change not very long ago, and HBK was part of the initial supply of Frontiers $5 notes. But I see many $5s in the range of around HCG through INJ mostly. I am concerned if any $5s of the first batch of Rogers-Macklem series will ever see the light of day in Newfoundland, especially after I discovered two fresh Desmond $10s with FFN and FFU in my change in recent weeks. As much as I like $10 notes, I certainly hope the older $5 notes in my province are not in the process of being replaced by $10 notes.
Either way, I am thinking that 2025 is going to be a pretty dry year for new serial number prefixes. If we go through 2025 with no new prefixes reported, it will be a first time in history.
As they always say, there's a first time for everything.
-
Last year (last fall?) we were down to a single new prefix in the SNDB that was getting close to dropping off the list, and then within a short time there were a few new ones reported. So I think it's too early to rule-out any new prefixes showing up for the next six months.
But yeah, take your pick for the causes of the slowdown. On top of the migration away from cash that's been ongoing (sadly) for three decades, there are now tariffs and trade wars, actual wars, inflation and ballooning costs of living, and a lot of uncertainty everywhere. Everyone I know is cutting way back.
That and I think you're absolutely right about stockpiles of certain signatures and prefixes still yet to be released. Only the $5s seem to be broadly released and reported; the other denominations, not so much. How many of the Lane/Macklem $20s will they be still sitting on when the King Charles $20s come out?