BoC invites Canadians to propose design ideas for a bank note marking Canada150

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Bank of Canada invites Canadians to propose design ideas for a bank note marking Canada’s 150th anniversary
Original article [bankofcanada.ca]

The Bank of Canada is inviting Canadians to propose ideas for the design of a new bank note to celebrate the 150th anniversary of Confederation in 2017.

As announced earlier by Minister of Finance Joe Oliver, the commemorative bank note will be broadly available by 1 July 2017. Details on the denomination, the number of notes that will circulate and the means to obtain them will be made public closer to the issue date.

Canadians can contribute to this special anniversary project by visiting a dedicated webpage and providing ideas about what would best represent Canada’s 150th as well as how these can best be depicted in images on a commemorative bank note. The survey will run until 8 January.

The Bank will be consulting the public and various stakeholders over the coming months in order to ensure that a full range of options are considered prior to submitting the bank note design concepts to the Minister of Finance for approval.

Since it was founded, the Bank of Canada has issued two commemorative bank notes: a special $1 note celebrated Canada’s 100th anniversary in 1967 and a commemorative $25 note was issued in 1935 in honour of the Silver Jubilee of King George V.

New Bank Note for Canada’s 150th

Contribute your ideas to the design of a commemorative bank note for Canada's 150th by filling out our online questionnaire.

The Bank of Canada has announced that it will develop and issue a commemorative bank note in 2017 to mark the 150th anniversary of Confederation. Since its inception, the Bank of Canada has issued two other commemorative bank notes. The last commemorative note issued in 1967 marked Canada’s centennial, so we’re pretty excited.

Many details have yet to be worked out, but one certainty is that this polymer note will be broadly available by 1 July 2017. Details like the denomination, security features, the number of commemorative notes that will circulate, and the means to obtain them will be announced as the project progresses. Stay tuned for updates.

In keeping with the Bank’s design principles, we need input from Canadians. Ideas for themes, subject matter and images will be considered as long as they take the following in to account.

They must adhere to our principles for bank note design.
They must represent the specific theme for this special note – the 150th anniversary of Confederation.
Ideas for theme, subject matter and images will be gathered from the public and other key stakeholders. The Bank will also seek advice from subject-matter experts. The designs proposed to the Minister of Finance will be those that best meet the above criteria. The Minister of Finance is responsible for approving any new bank note design in accordance with the Bank of Canada Act.

The Bank invites Canadians to propose ideas for this commemorative bank note marking our country’s 150th birthday.

We hope you’ll contribute ideas towards this celebratory bank note. Spread the word and share this page with your family and friends. Tell us what makes you proud to be Canadian, what would best represent Canada’s 150th and what you’d like to see highlighted on this commemorative note. Fill out the questionnaire by 8 January 2015.

A summary of the input received from Canadians through various means will be published at the end of the consultation period.

http://www.bankofcanada.ca/banknotes/new-bank-note-canadas-150th/

It's about time the BoC did something like this again.  I did the survey.  This will be an exciting project!  No doubt the note will not be scarce as many will hoard them, but I'm still looking forward to 2017!

Dean

I would like to see the BOC issue a special $150 denomination note for the occasion, in addition to a comemmorative note in a lower denomination. Now that would really be something unique!

I would like to see the BOC issue a special $150 denomination note for the occasion, in addition to a comemmorative note in a lower denomination. Now that would really be something unique!

A $150 note would be a very cool concept.  It's purchasing power is about what $25 would buy way back in '35...

Dean

$25 in 1935 is quite a bit more than $150 in today's dollars - it's more like $430. 

I don't think we'll see a $150 note. I'm more inclined to believe it will be a $5 note.

Love the idea of a $150 note. That would be outstanding.
But I am guessing something more mainstream to gain greater usage.......like a $20.

A limited run of $150 notes would be the cool (& profitable) thing to do for the BOC.  The public and collectors would definitely buy into that.  Or even initial runs of $200 notes would be interesting for collectors and Canadians alike (after all we could use a higher denomination since the $1000 was retired).   

But I would predict they will be much more conservative and thus commemorate a low denomination like the $5 or less commonly used $10.

I had a very pleasant discussion with Senior Deputy Carolyn Wilkins today about this bank note celebration.  So far, preliminary discussions suggests, the special note marking Canada's 150th birthday celebration will be a Special $1 or $2 Canadian polymer bank note (however, more likely a $1 note).

NOTE:  She did STRESS, it is still in the early phases, and the denomination could be different later. 

With a denomination being so low, it won't affect the main money supply ratios at the Bank of Canada.   As well, not too many Canadians would spend this special polymer note.  By making it a low denominational note, this would also make the note more readily available and affordable to the majority of Canadians.  As a result, many Canadians would just keep and hold this note, rather than spend them.   Having a higher denomination note such as a $5 or $10 note, would cause unnecessary havoc and cost to the vending machine industry to realign the machines to readily accept this note for general circulation in Canada. 

Interesting. I thought it would be a $5 for those same reasons....availability to all.
A new $1 or $2 would be cool.

I was hoping for a $150 note to mark the 150th anniversary. 

A $150 denomination note in my opinion would be the best. Otherwise, I think it ought to be on a 5 10 or 20 so that everyone will have a chance to see the special notes.

Commemorative $1 or a $2 notes might sound like a neat idea, but if they are intended for circulation, they will flop. They will end up in drawers, much like the mint's unsuccessful attempt to promote the 50¢ coin with a high mintage for-circulation commemorative edition back in 2002.

If commemorative $1 or $2 notes are produced as NCLT, I can see them being sold for way above face value in commemorative holders, much like the lasting impressions sets, that few collectors will buy, and almost no non-collecting Canadians will ever see.

A $5 note would be the best for visibility and utility, just like the $1 was back in 1967.

They are worried about high denomination notes, used for the underground economy.   They don't want to make it easier for them. 

The BoC really wants these low denomination notes (ie $1 or $2) tucked away in drawers, books, etc., just like the 2002 50 cent coins.   

With the polymer notes costing about 10 cents (or less) to produce, the government will still make money on these notes.

I really like the idea of a special polymer $1 or $2 commemorative Banknote but the colour and design should be carefully thought out.  Marketing the notes at a much higher price to collectors would be a big mistake if the real intent is mimic the 1867-1967 issue by making them available to everyone at face value.

Introducing a second red or green note regardless of the design may present some problems.  It would be fun to see some a orange or rose coloured banknote mixed in with current palette.

Why waste time and money even considering modifying vending machines for a single banknote?   

As long as businesses and the public accepts them, they should circulate to some degree provided more than 40 million are produced.  The hobby itself would certainly benefit with renewed interest in the current and especially past series of banknotes.   

Additionally the proposed note in my opinion should be a big departure from the current series and  predominantly made up of national symbols, ie: Coat of Arms on the face, Parliament Hill on the back, etc.  The former as you know was included in the 1954-2002 series then dropped without explanation.  The 1917 $1 also s featured the Parliament Buildings so why not the 2017?