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.