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Topic: Polymer $5 and $10 to be issued simultaneously  (Read 10477 times)
JB-2007
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« Reply #15 on: March 25, 2013, 11:46:23 am »

The prefixes we'll likely see on the new notes:
$5 AAU-AAZ, ABA-ABZ, BNA-BNZ, BOA-BOZ...
     HAM-HAZ, ???HBA-HBZ or JNA-JNZ.

$10 BFY-BFZ, ???CDA-CDZ or perhaps ACA or AGA
       FEW-FEZ, FTA-FTZ, FFA-FFZ
We currently have B, C and G available to use for denomination letters from the retired denominations so who knows, we may see them show up on the new 5s and 10s.
« Last Edit: March 25, 2013, 04:57:54 pm by JB-2007 »
Squad-G
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« Reply #16 on: March 25, 2013, 11:56:24 am »

Well, I do my part to keep the $10 alive by requesting them when I withdraw cash.  I find them convenient for small purchases. 

I do notice that when receiving change at the store, I will usually get 2 fives instead of one ten even though the tens are in the drawer.  I wonder why the cashiers tend to do this?

Dean

When I was working at Tim Hortons as a part-time student job, we were asking to give back two 5$ instead of one 10$. Our boss had severals reasons (some stupid, some not):
- We gave back 5$ to everyone so no one will argue (he got 5$ and I got 10$, I want 10$ me too) yeah... happened
- In a day, I would maybe get ten to fity 10$ compared to one hundred 5$ or more
- When someone was paying with 50$ or 100$, we gave back 20$ with 10$ also. We had to keep them.

But I also find that stupid because my boss could just had ordered 10$ from the bank like we do with 5$... My girlfriend has a Jean-Coutu and when they order money, it's always 5$. Most order are between 0$ and 5$ OR 10$ and 20$. It's more rare to be between 5 and 10. People pay with 5$ and they give back 5$. More paper, less change.

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suretteda
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« Reply #17 on: March 25, 2013, 04:41:56 pm »

The second letter is a denomination letter:
  • $5:N, O, P,  A, B and C
    $10: D, E, T, F and G
JB-2007
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« Reply #18 on: March 25, 2013, 05:02:30 pm »

The second letter is a denomination letter:
  • $5:N, O, P,  A, B and C
    $10: D, E, T, F and G
Your probably right. It makes sense
$5 N, O, P, A, B, C
$10 D, E, T, F, G
$20 I, S, V, W, Y, Z, L, R, U
$50 H,M
$100 J,K
and of course the Q and X not used.
walktothewater
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« Reply #19 on: March 25, 2013, 05:46:31 pm »

Quote
I do notice that when receiving change at the store, I will usually get 2 fives instead of one ten even though the tens are in the drawer.  I wonder why the cashiers tend to do this?

I do my part and ask for $10 at the bank too.  But I often get odd looks from the tellers.  The reason?  I believe we're moving closer and closer to a cash-less society.  Whether you like it or not- many business prefer debit or credit cards.  Plastic, cheques or EMT is becoming the method of choice, & the way of the future.  Hopefully, there'll always be cash, but I find it ironic that the govt finally decided to switch to the longer lasting polymer when cash will not wear out as fast since people tend to use it less often (thus its lasting longer).  We are seeing this with the slow release of $5.00 and lack of signature change-over for the $10.

FogDevil
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« Reply #20 on: March 25, 2013, 08:28:19 pm »

I think the key reason why cashiers give out 2 $5 bills instead of one $10 bill is pretty straightforward.  This has been the norms since the early-90s, if I recall.  Back in the 80's, there were slightly more $10 bills in circulation than there were $5 bills.  Since around 1990, the number of $5 bills in circulation overshadowed the $10 bill and has been this way since.  The $10 bill has been in decline since the 1940's, if I remember reading correctly somewhere.

Cashiers do give out 2 $5 bills instead of just one $10 bill because it's later in the day, and at that point they had received so many $5 bills over many hours being open, plus they need their $10's in the event that a customer pays with a $50 or $100 bill.  The larger bill a customer pays with, the larger the denomination a person receives in his or her change.  Plain and simple.  They will only receive a $10 bill in their change if they receive at least one $20 bill in the change.  If they don't receive a $20 bill in their change, then two $5 bills comes into play.

I get frustrated easily whenever I get two $5 bills instead of a ten, even more so when the cashier does have a ten in their till.  But the 80's are over.  Welcome to the 21st century - where $10 bills are quite a lot less prevalent, and the $5 and $20 bills rule our currency.  I've been seeing two $5 bills in my change a lot more since the fall of 2011 and I also noticed since 2000 that it seems as if every 3 years, my province loses one new $10 bill prefix.  In 2002, I used to see 5 new prefixes.  Now, I only see 2 new prefixes.  Yes, my friends, it seems as if, in my region, the $10 bill is on the way out.  I have a feeling that, come 2020, or sometime in that decade, all the banks in my region won't be ordering any more $10 bills.

But I agree, I rarely use cash nowadays.  I'm so frustrated over not seeing any $10 bills in my change any longer that I rely on my trusty debit card for payments now.  Plus my interest in cash is dying as well.
mmars
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« Reply #21 on: March 25, 2013, 09:36:23 pm »

OK, it's confession time.

Those of you who feel frustrated by getting two fins in lieu of one sawbuck in your change... You can blame me.  In my research, I take home a lot of $5 bills, and I put the rattiest ones in my wallet to spend.  So when I buy stuff, the Visa and debit cards stay put and I pull out my fives to pay.  The cashiers don't seem to care.  They probably like having excess $5 bills instead of being short on small denominations.  So next time you get two fives in your change... think of me.  I'm the culprit, and I feel no remorse.  :-\

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FogDevil
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« Reply #22 on: March 26, 2013, 09:26:50 am »

Your probably right. It makes sense
$5 N, O, P, A, B, C
$10 D, E, T, F, G
$20 I, S, V, W, Y, Z, L, R, U
$50 H,M
$100 J,K
and of course the Q and X not used.

"J" is no longer used on the $100 bill.  According to another thread, after the EK* run ended, they reverted back to the beginning of denominational letter "K" with FKA.  Maybe they'll recycle "J" on the $5 or $10 bill someday, perhaps?  It would be pretty cool to see denominational letter "J" on the $5 bill as it will appear on a bill I always see in my change.
FogDevil
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« Reply #23 on: March 28, 2013, 08:16:52 am »

I do my part and ask for $10 at the bank too.  But I often get odd looks from the tellers.  The reason?  I believe we're moving closer and closer to a cash-less society.  Whether you like it or not- many business prefer debit or credit cards.  Plastic, cheques or EMT is becoming the method of choice, & the way of the future.  Hopefully, there'll always be cash, but I find it ironic that the govt finally decided to switch to the longer lasting polymer when cash will not wear out as fast since people tend to use it less often (thus its lasting longer).  We are seeing this with the slow release of $5.00 and lack of signature change-over for the $10.

The tellers probably give you an odd look because they find requests for mutliple $10 bills very peculiar and sometimes bizarre, especially when you may be the only customer in the bank that requests a lot, sometimes too many $10s.  Not to mention that tellers don't have as many $10's as much as they have lots of $20's and $5's.  Tellers probably prefer to give out $20's because they have a lot more of them in their tills than anything else.  Or maybe they were told by their supervisors that they had to give out $20's.

And it will take more than just one person to help keep the $10 bill alive.  Do realize that even though only one person out of hundreds or even over a thousand of the bank customers requests a lot of $10 bills, one person is not going to be enough to keep such bill alive.  The banks can drop the $10 bills from their orders at any time, because they have to go with the majority, as people in that majority doesn't have a use for $10 bills anymore.  A lot of banks likely have dropped the $10 bills from their orders by now, and more will be coming.

Imagine what will happen if every single bank across Canada stops ordering $10 bills.  It's going to happen - someday.  But there's a good chance it will be gone from a small province in Atlantic Canada first (Nova Scotia wiill likely be the last in Atlantic Canada to not see any $10's most likely).  Then other provinces will follow suit.  Ontraio and B.C. will probably be two of the last provinces to see $10 bils in banks in the end.  $10 bills are going the way of the U.S. $2 bill, it seems.  Believe me, future grandchildren won't even know what a $10 bill is.
mmars
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« Reply #24 on: March 28, 2013, 03:14:18 pm »

The sooner then tens are gone, the better.  Pi** on them!  :-D

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walktothewater
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« Reply #25 on: March 28, 2013, 05:22:44 pm »

Quote
The tellers probably give you an odd look because they find requests for mutliple $10 bills very peculiar and sometimes bizarre, especially when you may be the only customer in the bank that requests a lot, sometimes too many $10s.  Not to mention that tellers don't have as many $10's as much as they have lots of $20's and $5's.  Tellers probably prefer to give out $20's because they have a lot more of them in their tills than anything else.  Or maybe they were told by their supervisors that they had to give out $20's

Honestly, I don't have to ask for all $10.00's just to get an odd look!   :-D

-But you're right.  The challenge to get $10 seems to be increasing.  Today- I asked to change $300 in tens & $200 in fives and it was a "no go."  They didn't have enough of either so I got $100 of each. 

Quote
Imagine what will happen if every single bank across Canada stops ordering $10 bills.  It's going to happen - someday.  But there's a good chance it will be gone from a small province in Atlantic Canada first (Nova Scotia wiill likely be the last in Atlantic Canada to not see any $10's most likely).  Then other provinces will follow suit.  Ontraio and B.C. will probably be two of the last provinces to see $10 bils in banks in the end.  $10 bills are going the way of the U.S. $2 bill, it seems.  Believe me, future grandchildren won't even know what a $10 bill is.

Do you really think our $10 denomination is going the way of the US $2.00?  I did not realize it was that unpopular....
 

FogDevil
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« Reply #26 on: June 07, 2013, 08:37:57 pm »

The challenge to get $10 seems to be increasing.  Today- I asked to change $300 in tens & $200 in fives and it was a "no go."  They didn't have enough of either so I got $100 of each.
It's more challenging to get a request for a lot of $10 bills fulfilled at a bank when it's later in the afternoon, it seems.  Tellers have less of a supply of $10 and $5 bills later in the day than in the morning.  I had no problem getting my request for 20 $10 bills ($200 worth!) fulfilled many years ago (up to around 2008), but maybe my request for that many $10s may not fly in 2013.  Maybe the tellers will only fulfill half my request nowadays given that the number of $10 bills in my region have gone down greatly since the fall of 2011.  In 2010, I saw two $5 bills in my change 80% of the time, and it seems like it happens 95% of the time now.

My best advice:  If you want to get a larger number of $10 bills from a teller, it's probably a good idea to try going to the bank earlier in the morning when there is more cash in the teller's tills - unless you work during the day.  Just a suggestion. :)
walktothewater
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« Reply #27 on: June 11, 2013, 08:36:13 pm »

Quote
My best advice:  If you want to get a larger number of $10 bills from a teller, it's probably a good idea to try going to the bank earlier in the morning when there is more cash in the teller's tills - unless you work during the day.  Just a suggestion

Yes- I would imagine going earlier is definitely more promising however I did figure an obvious method to get around being shut out.  What I discovered was they (and this applies to almost any branch) just don't like you asking for your withdrawals in certain denominations.  It seems they prefer to give you what they got and usually do it with 20's (or larger denoms like $50 for larger withdrawals).  I'm sure this is partly due to the amounts of cash they keep on hand and to the automation (machines dispensing notes) & other factors. 

To get around this: its best just to have the cash (like $500 in twenties) and request to have the sum broken up in Fives & Tens.  I should have used this approach from the "get-go" but it took me a while to figure it out.  Since recycling cash this way, I rarely have a problem getting the notes I want, but it also is a good idea to go when its not too busy (as this can be irritating for them too).

FogDevil
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« Reply #28 on: June 12, 2013, 08:59:32 am »

Yes- I would imagine going earlier is definitely more promising however I did figure an obvious method to get around being shut out.  What I discovered was they (and this applies to almost any branch) just don't like you asking for your withdrawals in certain denominations.  It seems they prefer to give you what they got and usually do it with 20's (or larger denoms like $50 for larger withdrawals).  I'm sure this is partly due to the amounts of cash they keep on hand and to the automation (machines dispensing notes) & other factors.

Maybe banks have rules that tellers are required to give out bills that they have more of and fewer of what they have few of.  If I recall, $10 bills are the lowest of the low demand bills, and the quantity of $10 bills any teller has is the lowest as opposed to other denominations.  They only give out only one $10 bill per customer max but only if accompanied with at least one $5 bill in a customer's cash received, otherwise the customer receives two $5 bills - mainly because of quantity of $5's vs. $10's and vice versa.

Banks probably have rules against fulfilling requests for certain denominations, unless it's a commercial banking transaction.  Even still, $10 bills are not needed in commercial withdrawals as much anymore, unless it's a place like Starbucks, or any coffee shop where demand for $10 bills is pretty good.

To sum it up: Banks may have a "take it or leave it" policy when it comes to certain denominations.  You can request certain denominations, but you're never guaranteed it, regardless if they have it in their till.  I haven't encountered such issue so far, and I have lost interest in money for the most part (the bills I target at banks seem to have far fewer new prefixes now as opposed to back in 2007), and haven't set foot into a bank since last July.

I also realized why there are certain denominations in circulation.  $5 bills are useful because of muffin/coffee or donut/coffee combos at Tim Horton's, some cafeteria items, junk food, and sometimes lottery or scratch tickets.  $10 bills don't buy as much anymore - all it can buy you is a meal at McDonald's, A&W, or other fast food joints, and also items at Starbucks or other coffee shops.  $10 bill usage has gone down significantly in my region since the fall of 2011 - it's quite a thrill to see one in my change nowadays.  If I see one in my change, I'm like, I may as well play the lottery.  I'd say replacing the older $10 bills will take a lot quicker than I realize.  There will only be a few thousand to replace, and since they're being released in November, I'd say the majority of my region's older $10 bills will probably be replaced by Christmas.

If memory serves correctly, most of the items I purchase is either $5 or less (with taxes), or greater than $10.  Very rarely will I purchase any item that costs between $5.01 and $10.00 (with taxes), and if I do make such purchase, the debit card is my friend.  I have lost faith for the $10 bill as of lately, and I am not certain if they're going to exist in my regino down the road.
walktothewater
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« Reply #29 on: June 14, 2013, 07:42:12 pm »

Quote
They only give out only one $10 bill per customer max but only if accompanied with at least one $5 bill in a customer's cash received, otherwise the customer receives two $5 bills - mainly because of quantity of $5's vs. $10's and vice versa.


I have not noticed that type of a glut of $5.00 vs $10.00.  As I wrote previously, there is no problem getting the $10 provided you go about it the right way.  I'm sure you'd find the same if you just took the cash and asked at the branches you frequent for the change-up in denominations.  I have found every branch (TD, BOM, CIBC) to be very accommodating though some may require extra time to get the notes you wish for. 

If you recycle $500 you want to make it half and half (or $300 in tens & $200 in fives) or such easy to work with combo of notes.  You have to think about them and work from their perspective.  If you do this twice a week- you'll be lucky to find a rare note once/month.  It takes time (that's why they're rare) & a super amount of patience but you'll find the odd good keeper.  I have found an FEA insert, FET, FDW and a few other older 2001 series $10 and even a few original 5.00  (before the security strip) including an HOH insert.

Good luck (if you decide to try)

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