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Topic: TD ATM replaced $10 bills with $100 bills  (Read 16257 times)
Rupiah
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« on: November 10, 2020, 08:40:52 pm »

Several TD ATMs in the GTA area seem to be now dispensing $100 instead of $10. So the standard fare is:

$5
$20
$50
$100

previously it used to be:

$5
$10
$20
$50

I am not sure if it is temporary or permanent.

Anyone else have similar experience?


Wonder what paper money would say if it could talk?
PaperorPlastic
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« Reply #1 on: November 11, 2020, 10:17:15 am »

My father actually told me last week that when he went to a TD ATM, it gave him the option to take 100$ notes which he had never seen before.  He didn't mention anything about the 10$ notes not being an option so I'll have to ask him about that since I assumed they had simply added 100$ notes as an option.  I'm in the Montreal area so this looks like it could be a country wide change.

docstrange
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« Reply #2 on: November 11, 2020, 10:45:17 am »

The new RBC bank machines give you the option to withdraw any note from $5 to $100
Seth
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« Reply #3 on: November 11, 2020, 04:09:32 pm »

The $10 note is the new 50¢ coin.

Track your Canadian currency online!

http://www.whereswilly.com
Rupiah
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« Reply #4 on: November 11, 2020, 08:30:27 pm »

The new RBC bank machines give you the option to withdraw any note from $5 to $100

There are TD machines those with big screens that do allow all the denominations. However these are not very common and I have mostly seen them in downtown locations.

I have not seen the RBC bank machines with possibility of all the denominations yet. Are they common in your area?

Wonder what paper money would say if it could talk?
moneycow
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« Reply #5 on: November 12, 2020, 11:17:17 am »

Initially I mis-interpreted your thread title,
Quote
TD ATM replaced $10 bills with $100 bills
.

I got excited and it reminded of a "bank error in my favour" situation I experienced many years ago at an RBC atm where a $100 note must have gotten mixed into the stack of 20s being dispensed.  :o

Craig
AJG
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« Reply #6 on: December 30, 2020, 07:42:39 pm »

The $10 note is the new 50¢ coin.
Sadly, you're right.

For the TD ATMs to stop dispensing $10 bills in favor of $100 bills, implies that demand for $10 bills is extremely low.  Low enough that, sadly, the $10 bill may reach its demise if enough banks discontinue ordering them.  And it does make sense as to why there have been no new Polymer $10 bills with varnish coating to date.

I think this change is most likely permanent.

I also suspect the replacing of MacDonald's face with Desmond's was likely an opportunity to save the $10 bill from retirement.  Sadly, that attempt failed, for there were fewer than 20 million of the initial supply of Desmond $10 bills printed.  It could be possible that demand is so low now, it's likely on the way out.  Give it three to five years, they'll likely be gone.

It makes a whole lot of sense as to why I have not seen any new $10 bill prefixes in Newfoundland for over five years now.

If we lose the $10 bill, it will be the same way we lost the $500 bill in 1938.  Consumer demand being low enough, it doesn't justify keeping the denomination in circulation any longer.
« Last Edit: December 30, 2020, 07:47:30 pm by AJG »
AZ
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« Reply #7 on: December 30, 2020, 08:42:55 pm »

I think this change is most likely permanent. Sadly, that attempt failed, for there were fewer than 20 million of the initial supply of Desmond $10 bills printed.  It could be possible that demand is so low now, it's likely on the way out.  Give it three to five years, they'll likely be gone.
Oh, come on, just stop that nonsense already... Yes, the $10 bill is the least used denomination and it has been for a while, but it does not mean it is going away. It makes no sense whatsoever to eliminate it and have $5 followed by $20.

And by the way, at least 70 million Viola Desmond tens were printed and released into circulation.
CA_Banknotes
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« Reply #8 on: December 31, 2020, 06:53:54 pm »

Up until a couple weeks ago it seems that most TD ATMs in Toronto still had 10s. Now they've all switched to 5/20/50/100.

There are still TD machines (the big ones that dispense/accept up to 200 notes) that have 10s. For now at least.

RBC has also started configuring its ATMs with 5-100 denominations. 10s were in them originally, not anymore with the few I've checked!
robb4640
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« Reply #9 on: December 31, 2020, 07:50:54 pm »

Most of the RBC ATMS's in Brantford dispense 5-100, i think only a couple of them skip the $10

Rupiah
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« Reply #10 on: January 01, 2021, 02:35:08 pm »

I inquired with TD about the change from dispensing - 5, 10, 20 and 50 to 5, 20, 50 and 100.

I was told that the demand for $10 denomination relative to the other denominations was signficantly low. Rather then change their machines to increase the denomination dispensed from 4 to 5 they decided to change the combination of the denomination dispensed.

Lately I have not been able to visit any of the larger TD machines but I would imagine that they would still continue to dispense all 5 denominations.

I have not seen ATMs from any other bank branches (other than TD) dispensing more than 3 denominations. It is good to see that there are locations where RBC ATMs are still dispensing all 5 denominations. If anything changes please share.

Thx

Wonder what paper money would say if it could talk?
docstrange
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« Reply #11 on: January 02, 2021, 12:51:56 pm »

my local RBC branch ATM machines do give out $5,$20,$50,$100 no $10
Rupiah
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« Reply #12 on: January 03, 2021, 11:17:19 pm »

my local RBC branch ATM machines do give out $5,$20,$50,$100 no $10

Hi docstrange,

Thx. Did they every give out all the 5 denominations and then changed or were they always giving out 4 denominations as far as you know

Thx

Wonder what paper money would say if it could talk?
AJG
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« Reply #13 on: January 04, 2021, 06:20:34 am »

There are still TD machines (the big ones that dispense/accept up to 200 notes) that have 10s. For now at least.

It seems as if, usually, when at least one ATM discontinues dispensing a certain denomination, eventually all ATMs will be involved.  When RBC discontinued dispensing $5 bills starting in 1999, smaller branches were likely the first ones to be affected.  More and more ATMs dropped $5 bills, and ATMs at the big (or main) branches were the last to discontinue $5 bills around 2002 - however ATMs at colleges and universities were still dispensing $5s for at least a few more years, but I heard rumor that they may have been replaced with $10 bills by 2006 supposedly due to inflation - at least the university in my hometown.

I have a feeling that if some TD and RBC branches discontinued dispensing $10s from their ATMs, it's likely possible more will be coming.  If the main/big branches are still dispensing $10 bills, it won't be long before they cease being dispensed.  Usually the big/main branches' ATMs are the last ones to be modified.

The $10 bill phaseout has only started recently, and I bet such phaseout from TD and RBC ATMs will be much quicker than when RBC ATMs phased out $5 bills (the latter phaseout took about three years).

The newer Scotiabank ATMs that dispense multiple denominations were already ahead of the game - they never dispensed $10 bills from the get-go.  The newer ATMs, that is.  Scotiabank knew well ahead that demand for $10 bills was quite low - so it's quite surprising that RBC and TD were late to the party.

I also wouldn't be shocked if those banks that stopped dispensing $10s from their ATMs, the branches probably discontinued ordering $10 bills for over-the-counter transactions.  If any such branches discontinued ordering $10 bills for over-the-counter transactions, please share.

I also agree that the phaseout of $10s from the newer TD and RBC ATMs is likely a nationwide change.
« Last Edit: January 04, 2021, 06:37:33 am by AJG »
docstrange
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« Reply #14 on: January 04, 2021, 04:38:16 pm »

I thought they gave out all the notes but I could be wrong and at my age you forget stuff at times 
AJG
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« Reply #15 on: February 09, 2021, 07:45:02 am »

I realize a likely reason why banks decided to no longer order $10 bills for ATMs (and likely over-the-counter transactions too).  Its significantly low demand could be caused by inflation, and the primary reason for the latter existence in demand for $10 bills was likely due to the cost of fast food.  Before COVID-19 made its way to Canada, at least here in Newfoundland, the cost of a Big Mac meal at McDonald's was barely under $10 including tax.  It was probably just one price hike away from exceeding $10 with tax.  After the restaurants reopened in some places across Canada, they jacked the price of a Big Mac meal up to about $12.  It is uncertain whether that figure includes taxes or not, but a Big Mac meal is still cheaper than many other provinces, but still too expensive for banks in Newfoundland to continue ordering $10 bills.  Given there have been no new $10 bills released with the varnish coating to date (and it's been roughly a year since the first of the varnish-coasted bills were released), it's pretty clear that no bank is even interested in ordering $10 bills now.

To the best of my knowledge, there is hardly anything that causes any demand for $10 bills, so it makes sense that banks have (in some cases, already) parted ways with $10 bills.  $10 bills still do exist in circulation in Newfoundland, but they are the same ones juggling around since around 2013 or 2014 (with the exception of some Canada 150 edition $10s) - and many are still in pretty good shape.

I am not sure what the Canadian government may do with the $10 bill in the future.  Maybe they are only keeping it an active denomination because they expect a surge of such bills down the road, but only when inflation calls for it.  I'd be quite interested to find out what the future holds for Canada's $10 bill.
walktothewater
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« Reply #16 on: February 10, 2021, 12:38:13 pm »

The $10 banknote has always been a bit of mongrel amongst the 5 CDN denominations. I really doubt that it has anything to do with NFLD or the cost of inflation. Their numbers will vary from region to region.

When the "150" anniversary $10 came out I canvassed every nearby branch aggressively to get orders & to search several bundles for special SN.  Some banks told me that they didn't order any & wouldn't order any while others were keeping stock of the Tens. I remember one bank teller asking me who I know uses cash (esp $10) anymore? Now, I'm still looking but not so keenly, and I have found many banks have stopped ordering them.  They're less stocked then the other 4 denominations.

I've been wanting to get my hands on the new IN_ $5 prefixes and up until about a month ago, forgettaboutit! Finally, a few crumpled ones started showing up about 2 weeks ago. Now I've watched the SNDB & I have seen them arrive in the province of Quebec some time ago & then later in TO. So you've got a point, demand could also be a small factor & if there's no demand, they won't restock & it will take ages for the new $10 to come out (& expect a long delay in seeing new signature combos).  I know its frustrating but its part of the life of a collector.  ::)

AJG
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« Reply #17 on: February 12, 2021, 07:26:01 am »

I think the only way banks will reconsider ordering $10s again, will be when the cost of a candy bar, a bag of chips, and/or a single serving size of Pepsi or Coke products exceeds $5 including tax.  Many or all of these items cost barely more than $2 (including taxes), so we have a long way to go before we see a surge of $10 bills in Canada, and many of us will likely be deceased by the time that happens.

Another thing I realized, is that the number of $10 bills in circulation had increased in very tiny increments over some years.  Could those tiny increases be due to the banks having stockpiles of $10 bills accumulated and causing a backlog in distribution to customers, resulting in the banks discontinuing ordering $10 bills indefinitely until the backlog is cleared?  I know there are a lot of $10 bills in circulation, but it's possible that of that number, very, very few are in the hands of customers.
« Last Edit: February 12, 2021, 07:30:48 am by AJG »
Seth
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« Reply #18 on: February 12, 2021, 11:35:21 am »

Only when the $5 note is replaced with a coin will the $10 become popular again.

Track your Canadian currency online!

http://www.whereswilly.com
AJG
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« Reply #19 on: February 15, 2021, 07:27:41 pm »

And given that a new $5 bill is in development, and the likelihood that no new banknote series will likely be considered for at least a couple of decades afterwards, the $5 bill is here to stay.

I can see a possibility that a few years after the $2 coin came out, there was a surge of $5 bills in circulation by the turn of the century.  It seems as if I don't see a $2 coin in my change much these days, implying that $5 is the new $2.

Regarding the $10 bill, it's likely possible there will be no new $10 bills for some years, to say the least - otherwise we would have seen new $10 bills with the varnish coating by now.
AJG
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« Reply #20 on: April 02, 2021, 10:23:33 pm »

I think the key reason for the $10 bill's current life is Scotiabank.  If I recall, many bank corporations rely on secured cash dispensers in order to avoid robberies.  They configure the machines to dispense $5/$20/$50/$100 only.  $10 bills are the first to be dropped, since most customers do not favor them - at least where I live.

I am not sure if it has to do with Sir John A. MacDonald's likeness - a controversial figure at that - on the older tens, or the fact that the $10 bills have a high percentage of counterfeits that may have tarnished the banknote's reputation, even though a notable woman is now on it.  Despite that a notable woman, Desmond, replaced MacDonald, there are still very few $10s being used across the nation.  I also realize that the number of $10 bills in circulation had risen over the years but in tiny increments, but do you suppose most of that number is made up of stockpiles of $10 bills that were sitting in bank vaults for many, many years, and the real number of $10 bills being used may be drastically lower than we expect?  I can see a likely reason why many banks decided to discontinue ordering $10 bills - most likely permanently.

Scotiabank is one bank corporation that does not rely on such dispensers, though there may be many Scotiabank branches that do not order $10 bills.  I think the only thing that will result in a possible demise of the $10 bill will be if every bank corporation relies on secured cash dispensers across the nation, which will only dispense $5/$20/$50/$100 in this day and age.  If this happens, $10 bill orders will be dropped by all of the remaining banks, and production of $10 bills will likely cease since bank orders will be zero by that point, and in a matter of time, the $10 bill will likely go the way of the $500 bill and the 50-cent coin.
« Last Edit: April 02, 2021, 10:26:39 pm by AJG »
walktothewater
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« Reply #21 on: April 03, 2021, 01:13:47 pm »

Quote
Quote
Only when the $5 note is replaced with a coin will the $10 become popular again.

-'Seth' makes a great point. Demand for the $10 banknote will be its only saving grace.  If Canadians demand the Ten Denomination, &/or cash for that matter, then the banks will stock up on the denominations (& cash) because it is finally in demand.  It's really that simple.  People are using less & less cash (as we all know). They may be hoarding it but they're not using it that much in day-to-day transactions. The "Better-than-Cash Alliance" is actively deep-sixing the future of cash & have used this pandemic as another reason to be rid of it (as a filthy vector of Covid-19).  They're constantly on a smear campaign re: cash & tout its use as a means to propagate criminal activity & other social evils.  It's all rubbish but they're awfully slick with their propaganda campaigns & people seem to buy into it.

Everybody seems to be good with the demise of cash, racking up huge debts & the credit card loyalty programs. The younger generation has a "bring it on" attitude re: cash going the way of brass buttons. It would be amazing if cash wasn't demonized/demonetized and people suddenly realized its true value but I doubt that's going to happen (in my lifetime) as there's no real lobby group supporting its use. It would do us well to look at other nations (& their use of cash) or at least recognize the perils of relying solely on electronic payments.

Dean
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« Reply #22 on: April 03, 2021, 05:54:30 pm »

-'Seth' makes a great point. Demand for the $10 banknote will be its only saving grace.  If Canadians demand the Ten Denomination, &/or cash for that matter, then the banks will stock up on the denominations (& cash) because it is finally in demand.  It's really that simple.  People are using less & less cash (as we all know). They may be hoarding it but they're not using it that much in day-to-day transactions. The "Better-than-Cash Alliance" is actively deep-sixing the future of cash & have used this pandemic as another reason to be rid of it (as a filthy vector of Covid-19).  They're constantly on a smear campaign re: cash & tout its use as a means to propagate criminal activity & other social evils.  It's all rubbish but they're awfully slick with their propaganda campaigns & people seem to buy into it.

Everybody seems to be good with the demise of cash, racking up huge debts & the credit card loyalty programs. The younger generation has a "bring it on" attitude re: cash going the way of brass buttons. It would be amazing if cash wasn't demonized/demonetized and people suddenly realized its true value but I doubt that's going to happen (in my lifetime) as there's no real lobby group supporting its use. It would do us well to look at other nations (& their use of cash) or at least recognize the perils of relying solely on electronic payments.

You'd think that with the money being plastic, it would not harbour viruses for as long as paper bills would...
And it has always been common sense to wash your hands after handling money.

AJG
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« Reply #23 on: May 22, 2021, 07:10:13 pm »

I think, personally, with many banks discontinuing ordering $10 bills, I have a feeling that, the least that's going to happen to the $10, if demand goes the way it's going, is that it will become very scarce like the U.S. $2 bill (I didn't say the 50¢ coin because they are long defunct from general circulation).

If $10 bills become scarce like the U.S. $2 bill, I can see the number of denominational letters for the $10 bill being downgraded to just one, and the other four denominational letters being recycled on the $50 and $100 bills since the number of bills in circulation for those denominations are rising rapidly.  The $100 bill will need more than just J and K, and the $50 will need more than just H and M.  Why use five denominational letters for a $10 banknote that has significantly fallen out of favour when really only one is needed?
« Last Edit: May 22, 2021, 07:13:20 pm by AJG »
alvin5454
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« Reply #24 on: May 23, 2021, 07:39:42 am »

Gentle reminder to all: The proper term is note, nor bill.
Marc
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« Reply #25 on: May 28, 2021, 12:56:29 pm »

In the early days of the pandemic when our understanding of SARS-CoV-2 was very limited, it was assumed it was transmitted in much the same way cold & flu.  That turns out to not be the case; Covid is an aerosol transmitted by airborne means.  It's possible but not plausible to contract it by surface touch.  The theatrics of disinfecting handles and counters every 2 minutes needs to stop.

That being said while banknotes have always been a vector for some nasty stuff, Covid is not one of them.  I've noticed an increase of cash use in 2021.  There will always be a use for physical cash, e.g. paying for items you buy at a yard sale or fresh fruits at a little stand by a farm on a country road.

Marc :)
walktothewater
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« Reply #26 on: May 28, 2021, 04:47:08 pm »

Quote
In the early days of the pandemic when our understanding of SARS-CoV-2 was very limited, it was assumed it was transmitted in much the same way cold & flu.
- You know what?  i wish that were true. The sad reality is that Bill Gates (& other billionaires) created the Better than Cash Alliance https://www.betterthancash.org/ a lobby group (based in the USA but working throughout the world to be rid of cash).  They have actively spread false rumours & campaign for the end of cash very successfully.  They're so successful (& well funded) that they provide financial incentives for business that refuse to accept cash. This has happened in many major cities (NYC, London, Tokyo, etc). 

I really wish people would educate themselves. Go on the BTCA site now (please check it out).  They're now creating sweet lies about how they're empowering women from 3rd world countries.  I was just in the Philippines & rarely could use my credit card. People distrust credit cards b/c they live on an island where cyclones can render ATM's useless as fast as you can say the word "buzz-kill." Check out the site & you will see how proud they are that they are actively spreading propaganda on that island nation to be rid of cash.  They also were behind India's debacle with the demonetizing of their large 1000 Rupee note, claiming that it would help Indians get bank accounts, etc, etc (blah blah, blah ad nauseum). They have padded brilliant economists' bank accounts to spread untruths about how criminals only use cash (never launder money through banks).  It goes on and on & the sad part is, they've convinced a LOT of people! 

As soon as the pandemic hit, countless adds came on CDN TV channels showing cashiers smiling happily at debit card users & slogans recommending people refrain from cash, to keep Covid at bay.  It was ridiculous. When asked to provide any concrete evidence re: their claims that cash is a vector they have no science/ no data (because it was never true).

Anyway, the sooner people get straight about how insidious some institutions (& movements) are, the better (IMO).

AJG
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« Reply #27 on: September 09, 2021, 07:28:52 am »

and I have found many banks have stopped ordering them.  They're less stocked then the other 4 denominations.
I'd like to ask, were at least one of the branches in your area that stopped ordering $10 bills Scotiabank branches?

I have a feeling that $10 bill demand is significantly low nationwide.  It would be quite interesting to find out how many $10 bills are actively in circulation at this time in each province.  I wouldn't be surprised if the number of $10 bills in circulation in NL is probably no greater than the 2,000 range.
walktothewater
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« Reply #28 on: September 10, 2021, 11:57:34 am »

I'd like to ask, were at least one of the branches in your area that stopped ordering $10 bills Scotiabank branches?

I have a feeling that $10 bill demand is significantly low nationwide.  It would be quite interesting to find out how many $10 bills are actively in circulation at this time in each province.  I wouldn't be surprised if the number of $10 bills in circulation in NL is probably no greater than the 2,000 range.

No, Bank of Montreal. In fact, one branch doesn't like it when I dump 2-4 bundles there. They told me that they had way too many & never order them (& even asked me to go to another branch).

TD is the only branch that will get new Tens for me but they also have given me old notes after I've requested new ones. It's getting tough to get what I want these days (they're just not interested in being very helpful).

AJG
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« Reply #29 on: March 09, 2022, 12:35:50 pm »

I was at a Scotiabank branch doing over-the-counter banking (but not for receiving any cash, though), and I found out that the Scotiabank has supposedly invested in secured cash dispensers, and they do dispense $10 bills, unlike with their ATMs.

If I recall, the Scotiabank is likely the last of Canada's big five banking corporations to use such machines, and I am thinking the reason for this change is due to a rash of armed robberies a few years back.  I don't know if TD has $10 bills in their secured cash dispensers, but it's good to hear that Scotiabank still orders $10 bills, so this means that the $10 bill will be around for a while longer.  Of course, maybe Scotiabank has $10 bills in their secured cash dispensers for now, but maybe they plan on dropping them once the main commercial branches have depleted their supply.

Another thing I'd like to bring up: with massive inflation in recent weeks due primarily to COVID-19 transitioning to endemic, and the world's economy reopening simultaneously, along with the war in Ukraine, could we possibly see a surge of $10 bills in the coming weeks or months?
walktothewater
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« Reply #30 on: March 11, 2022, 10:25:25 am »

AJG: we've all stated (or took the position) that the $10 denomination isn't going anywhere (it won't be phased out) for the past year.  In Ontario, we see them all the time. Sure, they're not used like the other denominations but they're still being used.  Polymer has extended their use so the 2018 new prefixes have just trickled out. You will still see some (usually) in a retailer's till but a lot of old 2013 continue to be re-circulated.  I think the bottom line is that all cash use has dropped (& seems to continue to drop) as more & more of the population converts to online & cashless purchases.

When you talk "inflation," the pressure is more on the use of higher denominations like the $50 & $100. The $50's been in high demand since early 2020 (& the beginning of the pandemic/run on stores, etc) b/c Canadians want to store some cash.  That's why we saw the unexpected "Lane" signature appear after Wilkins left. I expect we'll see more of the $50, $100 with the Lane signature & a change to "Rogers" either towards the end of this year or early 2023.  It's much harder to predict what we'll see with the lower denominations as they've all been released in a much slower time frame than what we've seen in the past.

AJG
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« Reply #31 on: March 20, 2022, 02:24:52 pm »

Well, now that i think about it, I realize that the BoC wants to keep the $10 bill in circulation.  There would be financial disadvantages if the BoC retired the $10 bill - there would be no immediate impact, but there would be an impact when prices go up and the cost of, say, a single serving soft drink, candy bar, or bag of chips costs greater than $5 including taxes.  The demise of the $10 bill would eventually lead to the number of $5 bills in circulation more than tripling, which means a lot more money would be spent on printing millions and millions of additional $5 bills, which in turn could be a major financial impact for the Bank of Canada.

I did learn from a retired RBC employee many years ago that $10 bills are not ordered by many banks because most customers do not want them.  If it were their choice, they would rather $5s and not $10s.  I don't know if the mass refusal of $10 bills by customers is linked to Sir John A. MacDonald's likeness, and that Prime Minister did a lot of things that were deemed controversial.  Whatever denomination of new banknote has MacDonald's likeness on it, if the number of bills of that denomination goes down sharply, the reason will be pretty clear..

Newfoundland and Labrador, where I live, has not seen very many of the Desmond $10s to date (most of the circulating $10s in my province are of the 2013 and some of the 2017 commemorative series - but the Desmond $10s are so rare at this point.  I do know there was a large number of 2013 $10s with prefix FTV in spring last year, and last fall there were some FTTs.  This implies the banks that have $10s likely have stockpiles of $10s that they had a hard time going through (I have yet to see any new $10s with the Macklem/Poloz signatures) and the way things are going, the inventories of $10s may not be depleted until much later this decade.
Dean
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« Reply #32 on: March 20, 2022, 06:11:41 pm »



Another thing I'd like to bring up: with massive inflation in recent weeks due primarily to COVID-19 transitioning to endemic, and the world's economy reopening simultaneously, along with the war in Ukraine, could we possibly see a surge of $10 bills in the coming weeks or months?

When I use cash, I always try to take $10 notes and I use them whenever I can.

AJG
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« Reply #33 on: October 23, 2023, 07:22:43 am »

After discovering that select cash ATMs at Scotiabank replaced $5 bills with $10 bills pretty recently, I wonder if the select cash ATMs at TD Bank will follow suit someday?  I mean, it's possible that demand for $10 bills may have seen a sufficient rebound due to massive inflation, or it's possible that $5 bills still wear out easily (even with Polymer $5s) and can jam the machines and cash dispensers, or a combination of both factors.
 

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