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Topic: New $5 Canadian Bank Note in the works...  (Read 4649 times)
coinsplus
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« on: January 09, 2020, 02:13:54 pm »

Noticed the news in Governor Stephen Poloz's speech this morning:

New $5 Note Coming

That gives us at least four things to talk about in the fireside chat. But I want to make it five. That is because the Bank of Canada is close to announcing plans for a new $5 bank note. An ongoing priority for us at the Bank is providing Canadians with bank notes that include the latest security features so that they can continue to use them with confidence.

I can tell you today that we will soon be launching public consultations about who should appear on the new $5 note. This will be similar to the public consultations that led to the selection of Viola Desmond for the $10 note. This time we will be asking all Canadians to nominate any historic Canadian—someone who is truly banknote-able. So stay tuned for details about how you can get involved, coming around the end of the month.

https://www.bankofcanada.ca/wp-content/uploads/2020/01/Remarks-208722.pdf

  Smile from your heart.  ;D
Seth
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« Reply #1 on: January 14, 2020, 12:28:24 pm »

It was nearly four years ago—March 2016—when the same announcement was made for the $10. It was 2 years and 8 months after that when the note was actually issued. So it's looking like late 2022 when the new $5s will hit the streets. I predict we'll get a redesigned, vertical $20 before the $5 is issued.

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suretteda
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« Reply #2 on: January 29, 2020, 11:53:27 am »

Bank of Canada launches public consultation for new $5 bank note

https://www.bankofcanada.ca/2020/01/banknoteable-5-press-release/

Dean
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« Reply #3 on: January 30, 2020, 10:34:16 pm »

Do you think that the Bank of Canada will replace the Queen on the $20?  I hope she stays.

Seth
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« Reply #4 on: February 02, 2020, 11:54:48 am »

Do you think that the Bank of Canada will replace the Queen on the $20?  I hope she stays.
They've said that the queen will stay, but I wish they'd find a replacement for her too. Oh well, she's in her 90s, she won't be on the money forever.

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suretteda
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« Reply #5 on: March 09, 2020, 04:04:46 pm »

AJG
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« Reply #6 on: August 04, 2020, 10:08:02 am »

I am thinking that, due to COVID-19, plus a tough economy as of lately, the new $5 bill may not come until 2023 or so.  It's interesting to note that the Federal Government was supposed to deliver its 2020-21 budget on March 30, but we still have no new date set for delivering the budget due to COVID-19 and a rapidly growing deficit for Canada which could top one trillion dollars by the time 2021 rolls around.  I know my province is expecting to deliver its provincial budget later in September, but I think there is a correlation between a very late delivery of a budget and public service layoffs in any government.

I also think that, if the Queen retires or passes away, a non-royal figure may appear in her place, unless there is a law that requires a royal figure on our $20 bill, in which case the current Prince Charles may take over.  If the $10 bill gets retired due to many, many years of low demand and nearly every bank in Canada discontinues ordering them, I can see Viola Desmond appearing on the $20 after the Queen retires or passes away, assuming there is no law requiring royal figures to appear on our $20 bill.  $10 bills do not seem to get ordered very much anymore (if they get ordered, it's very, very small quantities), and although the number of $10 bills in circulation is increasing, it is only in tiny increments, and with that said, I think the tiny increases in $10 bills in Canada is due to people hoarding $10 bills in case they get retired someday and will be treated as collectors' items down the road.
« Last Edit: August 04, 2020, 10:22:42 am by AJG »
JohnnyG5
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« Reply #7 on: August 12, 2020, 01:09:18 pm »

I believe that the $20 note is reserved for the current monarch. Can't find the article online, but when there was the announcement moving Macdonald and Laurier to the $100 and $50 notes, that's when it was mentioned. And I too would like to see a new $5 note as soon as possible - my life is sooo boring using a debit card!

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