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Topic: Lack of new prefixes in 2021 so far  (Read 117 times)
AJG
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« on: April 16, 2021, 07:56:17 pm »

Normally, there would be some new prefixes somewhere in Canada by now, but so far there has been none and it's just past the middle of April as I post this.

Why the absence of new prefixes so far this year?  Is this due to the many weeks of COVID-19 lockdowns in Ontario, where the Bank of Canada is located?
hdldddpd
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« Reply #1 on: April 16, 2021, 10:56:39 pm »

The government printed money like it was nothing all last year so there are lots to go around at the moment?

walktothewater
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« Reply #2 on: April 17, 2021, 08:11:29 pm »

Most of the FYR-FZT $20 prefixes (25) have trickled out in the past year which has not been too bad for that denomination.

I think the scarce/slow issue of new prefixes is simply due to less cash being used & an inadequate need to replenish due to the longevity of this present polymer series.  I have taken small batches of notes out from my branch & trust me there's plenty of old $5, $10 & $20 (with old HN__, FE__ & BI__ prefixes from 2012/13) which have had too much wear' n' tear in the past 8-9 years.  If it was paper they would have been destroyed years ago. They are disgusting & one can see right through the polymer so the gov is certainly getting their moneys worth on their limp plastic currency & only releasing a few new prefixes over a much longer time frame (a slow trickle at best).

AJG
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« Reply #3 on: April 18, 2021, 02:06:57 pm »

Yes, I seem to agree with your statement that the newer bills are being trickled out at a super slow pace.  This trend will likely continue even in the post-COVID era.

I also learned from someone that banks no longer order bundles or bricks of new bills due to escalating costs (after all, polymer isn't cheap), and the new bills are being released in smaller quantities, if mixed in with a majority of bills that were circulating for many, many years.  If this is the case, that could explain my weakening interest in serial numbers over the last few years, though the only banknotes that are of interest to me nowadays are the $50 and $100 bills, especially when I can withdraw them from a Scotiabank ATM that dispenses multiple denominations and are located near where I live.
 

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