Bank of Canada: Canadian woman to be on next series bank note in 2018

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Bank of Canada launches public consultation to select Canadian woman to be on next series bank note

FOR IMMEDIATE RELEASE
Media Relations
613 782-8782
Ottawa, Ontario
8 March 2016

As announced today by Prime Minister Justin Trudeau and Minister of Finance Bill Morneau, the Bank of Canada is undertaking a broad public consultation to select an iconic Canadian woman to be featured on the first bank note of its next series. This new note will be issued in 2018.

“In our country's nearly 150 year history, women, with the notable exception of the Queen, have largely been unrepresented on our bank notes,” said Minister Morneau. “In 2018, we will bring real change to a new generation of women who will carry with them constant reminders that they are not only Canada’s future, but a celebrated part of our history.”

The Bank is inviting the public to nominate women who they feel are deserving of this recognition.

“I am delighted that an iconic Canadian woman will be featured on a bank note,” said Bank of Canada Governor Stephen S. Poloz. “Bank notes are cultural touchstones, and can be used to celebrate and reflect the diversity of our society. With this new note, we can honour the achievements of Canadian women and inspire future generations to learn more about the significant contributions women have made to our country.”

From now until 15 April 2016, all Canadians can visit the Bank of Canada’s website to submit their nomination.

Nomination criteria are as follows:

The nominee can be any Canadian woman (by birth or naturalization) who has demonstrated outstanding leadership, achievement or distinction in any field, benefiting the people of Canada, or in the service of Canada.
The nominee must not be a fictional character.
The nominee must have been deceased for at least 25 years (before 15 April 1991).
At the end of the nomination period, an independent Advisory Council composed of eminent Canadian academic, cultural and thought leaders will then review the submissions. With the help of subject matter experts and additional consultation with the public, the Advisory Council will develop a short list of qualifying candidates for submission to the Minister of Finance.

Notes to Editors:

Canadians can nominate an iconic woman on the Bank of Canada’s website.
Once they have submitted their nomination, they are encouraged to tweet it using the hashtag #bankNOTEable.
Find out more about our Principles for Bank Note Design.
Consult the Bank of Canada’s Bank Notes web pages and learn more about our panel of experts in public consultation.

http://www.bankofcanada.ca/2016/03/bank-canada-launches-public-consultation/

I think this is great news!
(I personally nominated: Laura Secord, Emily Carr & LM Montgomery). 
You can nominate up to 5 women on the BOC site.  The nomination period ends in April though.

As announced today by Prime Minister Justin Trudeau and Minister of Finance Bill Morneau, the Bank of Canada is undertaking a broad public consultation to select an iconic Canadian woman to be featured on the first bank note of its next series. This new note will be issued in 2018.

I do not understand why the first note in the upcoming series will be released only 7 years after the Frontiers notes were first put into circulation. The polymer substrate and the security features are still cutting edge and counterfeiting levels are very low. I would expect the current series to stay for at least 10-12 years.

Perhaps the notes will not see a complete re-design but rather an upgrade of security features and some design changes, similar to what is being done in New Zealand and Australia.

I do not understand why the first note in the upcoming series will be released only 7 years after the Frontiers

It's at least in part a reaction to public opinion.  There was lots of anger that the Fanous Five and Therese Casgrain were replaced on the $50.

I do not understand why the first note in the upcoming series will be released only 7 years after the Frontiers notes were first put into circulation......

My sentiments exactly.  I understand the need to keep ahead of counterfeiters.  If the B.O.C. is going to start the new series replacing the first issued frontiers notes, it's ironic that  the 100 depicting a woman scientist  would be the first to go.

it's ironic that  the 100 depicting a woman scientist  would be the first to go.

We don't know what the first denomination of the next series will be.

I do not understand why the first note in the upcoming series will be released only 7 years after the Frontiers notes were first put into circulation.

They've already introduced the new queen's anniversary note right?  A new series is a bit bigger of a deal but the way they phase new series in these days - it won't be overnight- but rather take time (over several years). 

Changing designs is not that big of a deal today (both technically and expense wise).  Do  you really think this is a big deal?  I don't.  We already know they've dumped millions (or at least 100 of thousands of notes) for some arbitrary reason several times in the past (& that was when it was an expensive option).

They've already introduced the new queen's anniversary note right?  A new series is a bit bigger of a deal but the way they phase new series in these days - it won't be overnight- but rather take time (over several years). 

Changing designs is not that big of a deal today (both technically and expense wise).  Do  you really think this is a big deal?  I don't.  We already know they've dumped millions (or at least 100 of thousands of notes) for some arbitrary reason several times in the past (& that was when it was an expensive option).

The commemorative $20 has exactly the same design except for the holographic strip. It is because the strip has no machine-readable security features, but they are everywhere else on the notes. Any upgrade to the security features or significant design changes will require upgrading banknote-reading equipment across the country.  Even if it is just a software upgrade, it is a significant expense for the operators, to the tune of millions of dollars. It is odd to see the new series being introduced so soon with counterfeiting being virtually non-existent.

Also, the Frontiers notes last at least 2-3 times longer than paper notes, and they also cost two times more. The polymer $5 and $10 likely last 3-5 years, $20 notes, 6-8 years and $50 and $100, 10-15 years.  It would be a waste to pull high-denomination notes out of circulation before they wear out.

Of course, if the new series is introduced slowly, starting with $5 and followed by $10, $20, $50, and $100 one denomination a year, this may not be a big deal, especially if the Frontiers notes are allowed to circulate indefinitely until they wear out.

We probably will not see $5 and $100 Frontiers notes with Wilkins-Poloz signatures, unless the 2017 commemorative notes feature one of these denominations.

I am actually quite excited to hear about the new series

I thought I remember reading something from the BoC about lowering the replacement interval of bank note series from the typical 15-20 years to less than 10 years, to stay ahead of counterfeiters. But I can't find that reference anymore.

I thought I remember reading something from the BoC about lowering the replacement interval of bank note series from the typical 15-20 years to less than 10 years, to stay ahead of counterfeiters. But I can't find that reference anymore.

Yes i remember reading something about that too but it was awhile back. I'm expecting that the 2017 comm. note will be the $5, same design but just an added feature to commemorate Canada's 150 Anniversary very similar to that of the 1967 $1 series. If you think about it, its been awhile since we've seen any new $5s out. It wouldn't surprise me that the final prefix for this series is HCM and when the 2017 comm. note comes out we see HCN-
Also it would not surprise me that we see a new kind of serial numbering system. With now only one printing company is it really useful the first letter?

Even if it is just a software upgrade, it is a significant expense for the operators, to the tune of millions of dollars.

sure;
-but I meant changing the design is not that big of a deal/expense for "them" to execute.  When I wrote that post I didn't mean they're worried about expenses for the taxpayer (nor are they worried about small businesses or the service sectors who might utilize a lot of cash/or cash reading tech).  The money the previous administration saved by switching from paper to polymer is still a hot topic for debate (re: the increased expenses to make polymer notes, shutting down decades-old established printing businesses, etc).  There have been much worse sacrifices made in the past over questionable policies from Ottawa... 

When has the govt ever been sensitive to the expenses of the avg middle class or small business owner (re: so many things including taxes for dubious economic summits, gas plants, white elephant projects, etc)?  Have they ever had small business owners needs on the top of their minds when they made dubious policy changes/decisions which affected millions of Canadians re: tax increases, other lame federal fiscal policy shifts?

I would suspect they're much more worried about catering/appealing to big foreign businesses -rather than small marginal domestic operations who handle lots of CDN currency.  Design elements of the Frontier's series was very conservative & obviously short-sighted.  Now the new government is concerned about righting a politically perceived "wrong" (ie: the lack of women represented on our currency) by introducing a new design with notable Canadian women. 

The subject of which great Canadian women deserve to be on our currency is the topic of CBC Radio One's Cross Country Checkup phone-in show today. http://www.cbc.ca/1.3525789 Call in and share your opinion with Canadians. 1:00-3:00pm PDT, 4:00-6:00pm EDT

A Bank NOTE-able Canadian Woman

On International Women’s Day, a public consultation was launched to select an iconic Canadian woman to be featured on the first bank note of our next series. Over 460 iconic Canadian women met the qualifying criteria through our selection process and the long list has now been set.


http://www.bankofcanada.ca/banknotes/banknoteable/

Do you think the BoC will replace the Queen with another woman, or will one of the former PMs take the demotion?

In my opinion, the only untouchable portraits on Canadian Currency are the Queen and Macdonald.

The Queen won't be dropped.  Macdonald, Laurier, and Mackenzie King always make the top three in historical rankings of prime ministers. Borden is 7th or 8th so my bet is for him to go.

Orrrrrr... she could grace the proposed $200 bill

Just stirring the pot here.

The Queen won't be dropped.  Macdonald, Laurier, and Mackenzie King always make the top three in historical rankings of prime ministers. Borden is 7th or 8th so my bet is for him to go.

I agree...the fact that the Toronto District School Board has closed Sir Robert Borden BTI, the writing is on the wall...

Personally, I wish they would demote King because he was a racist and a lunatic!

#bankNOTEable Canadian woman will be revealed on 8 December, Bank of Canada publishes short list of five

FOR IMMEDIATE RELEASE
Media Relations
613-782-8782
Ottawa, Ontario
24 November 2016

On Thursday, 8 December 2016, the Minister of Finance and the Governor of the Bank of Canada will reveal which iconic Canadian woman will be featured on the next regularly circulating bank note, expected in 2018.

In advance of that announcement, the Bank today published the short list from which the #bankNOTEable woman will be chosen.

An independent Advisory Council short-listed these five iconic Canadian women earlier this year for consideration by the Minister of Finance.

They are (in alphabetical order):

Viola Desmond (1914–1965)
E. Pauline Johnson (1861–1913)
Elizabeth (Elsie) MacGill (1905–1980)
Fanny (Bobbie) Rosenfeld (1904–1969)
Idola Saint-Jean (1880–1945)

The women were selected from 461 eligible nominees submitted by Canadians during an open call for nominations, launched by Prime Minister Justin Trudeau on International Women’s Day, 8 March 2016.

More than 26,300 submissions were received from Canadians over a five-week period. The Advisory Council initially reduced these nominations to a long list of 12 women, guided by the following principles: Canada is comprised of many different communities; the women who appear on the long list should resonate with Canadians and reflect the diversity of Canada; and their achievements must be seen in the context of the time in which they lived.

In compiling their short list, Advisory Council members agreed that these five women best articulated the Council’s ultimate selection criteria: that nominees should have broken or overcome barriers, made a significant change, left a lasting legacy, and be inspirational.

“The Advisory Council had the difficult task of selecting only five outstanding Canadian women from a vast field of strong choices, and I commend the members for their excellent work,” said Governor Stephen S. Poloz. “I am also delighted that this entire process encouraged a meaningful conversation among Canadians about the many exceptional women who have shaped our country.”

“Canadian women made our country what it is today, and they deserve a place on our currency,” said Minister of Finance Bill Morneau. “Thanks to the work of the Council members and to the thousands who participated in the conversation, a new generation of young women and girls will be inspired by the stories of those who contributed so much to our society, our values and our history. And, in 2018, we will all have a constant reminder of these exceptional accomplishments to carry around with us wherever we go.”

http://www.bankofcanada.ca/2016/11/banknoteable-canadian-woman-revealed-8-december/

Bank note event: Bank of Canada Governor Stephen S. Poloz, Minister of Finance Bill Morneau and Minister of Status of Women Patty Hajdu

8 December 2016

OTTAWA – On Thursday, 8 December 2016, Governor Stephen S. Poloz, Minister of Finance Bill Morneau and Minister of Status of Women Patty Hajdu will reveal which iconic Canadian woman will be featured on the next regularly circulating bank note.

Topic: The announcement of a Canadian woman to be featured on a new bank note

Time: 9:00 (Eastern Time)

Place: Canadian Museum of History, 100 Laurier Street, Gatineau, Quebec - Grand Hall

Lock-Up: There will be no media lock-up for this event.

Distribution: The Governor’s remarks will be published.

Press Conference: There will be no press conference, but the Ministers will be available for Q&A sessions. There will be no press conference or Q&A session with the Governor.

Webcast: This event will be webcast live on the Bank’s website and YouTube channel.

Note: To attend, all media must register with the Bank in advance. Broadcast media and still photographers will be allotted space on a first-come, first-served basis, based on advance registration and are required to arrive before 8:00 (ET).

To register, please contact Bank of Canada Media Relations by noon (ET) on Wednesday, 7 December at 613-782-8782.

The announcement will be preceded by a Facebook Live town hall with students from Roberta Bondar Elementary School, and hosted by the Minister of Finance, Minister of Status of Women Patty Hajdu, and their Cabinet colleagues. The live stream will be available at facebook.com/womencanada. This event will start at 8:30.

For more information about this town hall, please contact:

Annie Donolo
Press Secretary
Office of the Minister of Finance
613-769-7187

Media Relations
Department of Finance Canada
613-369-4000

http://www.bankofcanada.ca/2016/12/bank-note-event-8-december-2016/

I do not understand why the first note in the upcoming series will be released only 7 years....

Me neither. 

Considering that the first redesigns are going to be the ones released only two years ago it really doesn't make much sense unless they will be permitted to circulate much longer.  More good money wasted.

Interesting scenario given that the only similarities between the series will likely only be the colour.

Considering that the first redesigns are going to be the ones released only two years ago it really doesn't make much sense unless they will be permitted to circulate much longer.  More good money wasted.

The BOC may be starting the upgrade out of political correctness, to please those who were unhappy with women being removed from the banknotes. I cannot think of any other explanation, as in late 2018 the current $10 notes will have circulated for only 5 years. Also, the other denominations will be upgraded quite slowly, with 2-3 year intervals, which is fairly uncommon. This way the existing notes will have circulated long enough to be replaced with the new issues. The last note in the new series will likely be issued in 10-12 years from now.

The last note in the new series will likely be issued in 10-12 years from now.

Thanks AZ for the clarification. 

We don't know what order the new notes will be released in but the $10 will be the first and depending on who long the process takes to select an iconic Canadian it could the the next or last one.

Personally I like the $10 the best and was disappointed they didn't choose the $5 for the new commemorative note.

The BOC may be starting the upgrade out of political correctness, to please those who were unhappy with women being removed from the banknotes. I cannot think of any other explanation

Nothing to do with political correctness. When the Frontier series cam out, I remember the BoC announcing that to stay ahead of counterfeiters, the series replacement interval would be lowered to 5-10 years, from the typical 15-20 years. This announcement was made long before any discussion of women on banknotes arose. I can't find that reference anymore, but the new series release timeline is right on the mark.

I remember the BoC announcing that to stay ahead of counterfeiters, the series replacement interval would be lowered to 5-10 years, from the typical 15-20 years.

Yes I recall that, too.  Another noteable Canadian will displace Laurier on the $5 moving his portrait to the $50 (and Macdonald to the $100) and I would expect that note in second half of 2019.  Perhaps the new $20 will follow that year as well.  2020 could see the series completed with the $50 and $100.  Not at all unlikely that this new series will come in swiftly over two years like the current one did.

Another noteable Canadian will displace Laurier on the $5 moving his portrait to the $50 (and Macdonald to the $100) and I would expect that note in second half of 2019.  Perhaps the new $20 will follow that year as well.  2020 could see the series completed with the $50 and $100.  Not at all unlikely that this new series will come in swiftly over two years like the current one did.

The BOC actually said that the $5 note will be released several years after $10 and that the other denominations will follow with 2-3 year interval. Therefore it will take 8-10 years or even longer for the entire series to be issued.

Nothing to do with political correctness. When the Frontier series cam out, I remember the BoC announcing that to stay ahead of counterfeiters, the series replacement interval would be lowered to 5-10 years, from the typical 15-20 years. This announcement was made long before any discussion of women on banknotes arose. I can't find that reference anymore, but the new series release timeline is right on the mark.

Check this topic

http://www.cdnpapermoney.com/forum/index.php?topic=14424.0


The 2013 annual report had some information and then there was an ad for a position to hire a project manager for the development of next generation of notes.

Yes I recall that, too.  Another noteable Canadian will displace Laurier on the $5 moving his portrait to the $50 (and Macdonald to the $100) and I would expect that note in second half of 2019.  Perhaps the new $20 will follow that year as well.  2020 could see the series completed with the $50 and $100.  Not at all unlikely that this new series will come in swiftly over two years like the current one did.

I wonder if there will be a colour change too. We've been looking at Laurier in blue and Macdonald in purple for more than 40 years, it's hard to imagine them red and brown.

I wonder if there will be a colour change too.

No sense in messing around with the colours.  We know what happened the last time in 1935 when the Queen Mary notes were pulled. 

Would be nice to see a few new security features and perhaps good riddance to the useless see through number.

Its kinda funny in a way, Laurier will be on the 50 and Macdonald will be on the 100. Its like a reverse currency redenomination, $50 today is worth what $5 was in 1972 and $10 in 1971 had the spending power of today's $100. So I would be all in favour of the new $50 being blue and the new $100 being purple. The Bank of Canada is just admitting the loss in value of the currency in the past 40 years. Prices were fairly stable in the preceding 60 years and then the 1970s saw inflation and devaluing of currency. Inflation is a tax on the working class and the harder we work for it and the more we save, the less its real value is. They blame us for having high debt, but whats the point in saving when down the road it will be worthless anyway.

Just a tongue in cheek commentary on the new banknotes.

Happy New Year!

Kyle.