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Topic: The next series  (Read 377 times)
Seth
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« on: November 21, 2019, 02:11:04 am »

So it's been one year since the Desmond $10 went into circulation. I figured the next one would come sometime in 2019 but it hasn't happened. At this rate, by the time the last one is issued, it'll be time for a new $10 again.

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AJG
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« Reply #1 on: November 22, 2019, 07:13:14 am »

It is said by the BoC that the next new denomination would be issued by 2021.  Usually the first of a series of press releases doesn't get published until many, many months or one year in advance of release.

Another source cited that a new banknote in this new series would be released every three years.
wagnert89
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« Reply #2 on: November 22, 2019, 08:17:17 am »

I have heard that the BoC is seriously investigating cyrotocurrency and electronic formats so that may determine the physical banknotes future.  I hope they continue printing but we are in a digital era.
Beatrix
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« Reply #3 on: November 22, 2019, 11:59:10 am »

Seth, I think you've clued into why I in particular am not shedding any tears if we have to wait a long time for new series!

I have heard that the BoC is seriously investigating cyrotocurrency and electronic formats so that may determine the physical banknotes future.  I hope they continue printing but we are in a digital era.

Cryptocurrency may have some good press every once in a while with some tech bros in San Francisco acting like it's the future, but 99% of it is people just holding onto their bitcoin hoping the price rises, and the other 1% is being used as currency for drugs and other illegal products. I wouldn't be surprised if they're working on simpler digital payment methods as an alternative choice, but government backed cash is not going anywhere anytime soon.
wagnert89
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« Reply #4 on: November 22, 2019, 02:23:46 pm »

 Yes unregulated currencies flexuates and it can be used for illegal purposes but I think they were onto something with the digital currency and blockchaining feature as a valuable cybersecurity feature that banks or the BoC could use.

I wish they would bring back high denomination notes but that is unlikely due to there past usage. 
Rag Picker
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« Reply #5 on: November 22, 2019, 07:06:09 pm »

What happened to the consultation process and vote on the next $5 bill?  I thought this would have been underway by now as the Desmond $10 is the first in the new yet unnamed series.

Polymer banknotes will continue to be an integral part of the economy and a source of income for the B.O.C.  Despite the various digital options which usually come with a cost, banknote transactions are anonymous and not dependent on a reliable digital network subject to breakdowns or malfunctions.

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walktothewater
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« Reply #6 on: November 23, 2019, 04:19:31 pm »

Quote
What happened to the consultation process and vote on the next $5 bill?  I thought this would have been underway by now as the Desmond $10 is the first in the new yet unnamed series.

Polymer banknotes will continue to be an integral part of the economy and a source of income for the B.O.C.  Despite the various digital options which usually come with a cost, banknote transactions are anonymous and not dependent on a reliable digital network subject to breakdowns or malfunctions.
\\

-Good points "Ragpicker"
I believe the BOC announced that 2020 for the new $5 (last year during the new $10 hype) but since no consultation on this new $5 design has been initiated... leaves one to wonder (if that's even realistic/achievable). 

I also agree that issuing banknotes is in the BOC best interest.  I believe that even Sweden is realizing the value of having cash on hand should a crises occur.  I doubt that the BOC would launch into crypto currency exclusively without issuing banknotes.  The only other possibility is the retirement of the $5 banknote for a $5 coin.
Seth
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« Reply #7 on: November 23, 2019, 08:12:22 pm »

The only other possibility is the retirement of the $5 banknote for a $5 coin.

I would be fine with that IF the whole coinage system is redesigned to make all of the coins smaller. Nobody wants a dinner plate-sized $5 coin. A coin worth $1 in 2019 should be no larger than a nickel.

As for digital cash replacing bank notes and coins, I'm not a believer. There will always be a need for physical cash: Church thrift sales, garage sales, Girl Guide cookie sales, poppy fund donations, anywhere when the power goes out, when the payment network goes down, the list goes on and on. I always have at least $100 cash on me. I rarely use it, but I still always have it.

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Seth
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« Reply #8 on: November 23, 2019, 08:14:26 pm »

Another source cited that a new banknote in this new series would be released every three years.

That would take 12 years to do them all, contradicting the BoC's intent to replace note series every 8 years (I think that's what I remember them saying?)

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PaperorPlastic
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« Reply #9 on: November 26, 2019, 06:21:42 pm »

I've been wondering about this as well and thought it was supposed to be ready for 2020.  I also remember the consultation process was supposed to be like it was for the 10$ note and the options to choose from would be iconic Canadians.

walktothewater
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« Reply #10 on: November 28, 2019, 07:58:52 pm »

Quote
the consultation process was supposed to be like it was for the 10$ note and the options to choose from would be iconic Canadians.
- I remember the same & was under the impression that the $5 would have an iconic Canadian man.
AZ
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« Reply #11 on: November 30, 2019, 09:02:25 pm »

- I remember the same & was under the impression that the $5 would have an iconic Canadian man.
I found this mockup of the new $5 in a Facebook banknote group. Yes, it is a crude Photoshop design based on the Viola Desmond $10, but what is interesting is that they put Tecumseh on the note. Can he be the other iconic Canadian?
AJG
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« Reply #12 on: December 01, 2019, 06:23:11 am »

I don't know if the new $5 bill would have that shade of blue, and I would think the hair of the person featured on the new $5 bill would have some blue instead of the true hair color?

And I thought a press release stated there would be another iconic woman on our new $5 bill?
PaperorPlastic
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« Reply #13 on: December 03, 2019, 10:36:47 pm »

- I remember the same & was under the impression that the $5 would have an iconic Canadian man.
And I thought a press release stated there would be another iconic woman on our new $5 bill?

  From what I recall at the time, the BOC didn't specify the gender of the person for this next note which leaves the possibilities wide open.

 

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