TD ATM replaced $10 bills with $100 bills

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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.

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. 

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.

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

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.

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.

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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.

-'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.

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?

Gentle reminder to all: The proper term is note, nor bill.

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.

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).

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.

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).

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?