Bank of Canada to Issue New Bank Notes

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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

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......

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!

How can we get Canada to issue notes like these? WOW!

Check out item #290440856068

I like how it says "great looking" notes.

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!

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.

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

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

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.

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 

perhaps they will be a paper/polymer hybrid note like having a polymer window i a paper note containing a hologram

[edit]Post removed because purple monkey dishwasher - mmars[/edit]

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.

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

The Senate of Canada
Order Paper and Notice Paper

--------------------------------------------------------------------------------

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