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Topic: The next series  (Read 10726 times)
walktothewater
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« Reply #15 on: July 03, 2023, 09:52:17 am »

Quote
2.:
''Looking forward
In 2023, the Bank will:
begin working on the design and security features for the next $5 bank note, subject to a final decision by the Minister of Finance on the portrait subject''

This was their position before they launched the $10 (6 years ago).  The $5 was supposed to come out a year or so after the $10 (like 2019 or 2020).  Do you think this statement suggest another 3 years?

Sometimes I wonder if they're just going to introduce a new coin!  ::)

AJG
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« Reply #16 on: July 04, 2023, 12:31:12 pm »

This was their position before they launched the $10 (6 years ago).  The $5 was supposed to come out a year or so after the $10 (like 2019 or 2020).  Do you think this statement suggest another 3 years?

Sometimes I wonder if they're just going to introduce a new coin!  ::)

Well, if $5 bill demand continues to rise at the rate they're going, a $5 coin may have to be considered because the cost to produce $5 bills by that point will be significant.

We lost the $2 bill in 1996 in favor of a coin equivalent because Canada was in a tough economy at the time, and in the 1995 Federal Budget - delivered in late February 1995 - had many cost-saving measures announced. I had mixed feelings when a $2 coin was announced - one side of me was devastated, while another side of me was happy because of some cashiers refusing to give me $2 bills in my change, including one retailer who - recently at the time - stood firm in his refusal to give me $2 bills in my change, and I even argued with him.  He gave me two choices: Take the loonies, or refund my purchase. I reluctantly took the loonies and left in a sour mood.  Needless to say, the store lost me as a customer.  If this situation happened with me today (loonies vs. toonies, $5 bills vs. $10 bills), and I was faced with such decision, I would take the refund and stop doing business with them.  As for that store, it is permanently closed.

But now, it seems like the $2 coin has fallen in decline in the last few years (demand peaked late-90s or early 2000s), and if this is true, that could explain the significant number of $5 bills in circulation today.

Regarding the new $5 bill, I don't think it will take that long to design it, considering technology these days.
« Last Edit: July 04, 2023, 01:05:09 pm by AJG »
suretteda
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AJG
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« Reply #18 on: September 01, 2023, 10:54:49 pm »

https://www.cbc.ca/news/politics/wilfrid-laurier-5-banknote-1.6906081
So, if I were to hazard a guess, I am thinking that the Bank of Canada decided to keep the current $5 note for a few more years, due to being faced with a complicated decision on who to put on the new $5 note.  That said, I think a new vertical banknote of a higher denomination will probably be in the works.  I am thinking a new $20 will probably be next, with the new reigning monarch.

And speaking of which, it is now September, and so far no new coins with King Charles on it released to date.  Have the Mint actually released any new coins into circulation this year?
Redlock
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« Reply #19 on: September 02, 2023, 01:46:38 am »

And speaking of which, it is now September, and so far no new coins with King Charles on it released to date. 

The process of the artist and his/her effigy proposal is still ongoing. The Mint (or whoever has to make the decision which effigy to chose) hasn't announced a winner yet. I think, we will not see KCIII's effigy on circulation coins dated 2022.


Have the Mint actually released any new coins into circulation this year?

The Ellis MacGill Loonie and the National Indigenous Peoples Day Toonie.
Any other coins needed to meet demand are dated 2022 and have the normal/regular QEII effigy (as I understand it).
« Last Edit: September 02, 2023, 01:48:11 am by Redlock »
Seth
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« Reply #20 on: September 08, 2023, 03:50:24 pm »

The process of the artist and his/her effigy proposal is still ongoing. The Mint (or whoever has to make the decision which effigy to chose) hasn't announced a winner yet. I think, we will not see KCIII's effigy on circulation coins dated 2022.

The Minister of Finance makes the portrait decision on bank notes. The file seems to be at the bottom of her inbox.  She doesn't want to commit to anyone, it seems.

Track your Canadian currency online!

http://www.whereswilly.com
Just Bank Notes
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« Reply #21 on: September 08, 2023, 05:24:12 pm »

I agree with Seth’s comment.  This impasse is entirely political and the responsibility lies there.

The next Minister of Finance will follow a simple two-step process:
-  Throw out the current mess.
-  Choose a portrait using common sense.

 

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