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Topic: Shortage of 10s circulating  (Read 24499 times)
sudzee
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« on: October 29, 2007, 08:05:37 pm »

Has anyone noticed a shortage of tens circulating? Any ideas why that would be happening?
Thanks,
Gary
friedsquid
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« Reply #1 on: October 29, 2007, 08:16:05 pm »

Quote
Has anyone noticed a shortage of tens circulating?
In the town I'm in 99 percent of the time you get change it will be in multiples of $5.00 notes.
I always assumed that when I was regularly bringing 20-40K of $5 back to the branch they seemed to be circulating in the town since many were notes that I personally know were from bricks I searched and many marked (Our pop is only 3000 if that)
Rarely do you get a ten in change and if so it is so damaged I'm surprized that they are not taken out of circulation. I will admit our $5 notes are nice ;D
The atm's give twenties so no chance of getting tens there.

Could just be a coincidence 8)



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sudzee
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« Reply #2 on: October 29, 2007, 08:22:45 pm »

My thoughts as well, Mike. When stores request some notes they usually ask for many more 5s than 10s.
Gary
bwho9d
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« Reply #3 on: October 29, 2007, 09:36:42 pm »

This happens everywhere I go. I see that some cashiers don't have any tens in their tills. Most cash transactions involve fewer tens. Perhaps this is why the BoC is resuming the production of 10s and adding a lacquer finish to them?
FogDevil
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« Reply #4 on: December 04, 2007, 04:27:33 pm »

I agree that there seems to be a shortage of 10s circulating these days - despite the Christmas spending season this year.

In fact, since August or September, I only received a $10 bill in my change twice, maybe three times.

Here's my theory:

Back in 1987, there were more $10 bills in circulation because a lot of purchases with that dollar amount were popular (Gotta love those audio cassettes from yesteryear LOL).  Today, in 2007, what $10 could buy 20 years ago $20 or more buys now (thanks mainly to CDs and DVDs), thus decreasing the popularity of the $10 bill.

I also noticed that many shopping mall lotto booths very rarely give out $10 bills in someone's change or as a prize.  They most likely have guidelines set out by Atlantic Loto that they are not permitted to give out $10s (or any other infrequently used denomination) unless it is a last resort.  They probably have to do this practice to account for efficient counting at the end of the attendant's shift.  Same practice applies for many establishments that don't deal heavily in $10s.

Some banks don't distribute $10 bills unless customers request them.  In fact, select RBC branches very rarely give out $10 bills as their secured cash dispensers only give out four denominations ($5, $20, $50, and $100) due to the expandable cartridges that can accommodate additional $20s, and the $10 is the least distributed banknote in many banks, resulting in the $10s being removed from some RBC on-site dispensers.  It really is an inconvenience that we, as valued customers, have to request $10s if we want them.  That is one reason why I closed out my account at RBC back in 2006, and converted to Scotiabank.

The way the economy's going, it seems like our $10 bill may possibly be going the way of the $2 bill someday.  But maybe when all the purchases that currently cost $5 rise to $10 in about a decade, there may be more demand for $10s by that time.  But for now it is all wishful thinking.
« Last Edit: December 04, 2007, 05:04:23 pm by FogDevil »
Punkys Dad
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« Reply #5 on: December 04, 2007, 08:31:25 pm »

Welcome to the Forum FogDevil,

Good observation, I noticed the disappearance of the TEN going back into the 80s. And I have come up with the same reasons as well as they still apply now. The cause is multifaceted; TENs used to be dispensed out of Royal Bank ATMs back in the 80s but not anymore. Why? Bottom line is less handling of denominations. A 2 bin 5/20 machine is cheaper to buy and maintain than a 3 bin 5/10/20 ATM. Less parts to break down or wear out. Add that to saving time not having to handle an additional denomination.
Buying habits; we seemed to be conditioned to buy or consume using primarily $5 and $20s. I used to watch how people spent cash at any given till. Convenience pricing is geared to lure us to spend more willingly. I watch cash transactions as most people carry $5 and $20 in their wallets than tens, I’ve estimated one five people back then carried at least one TEN even among coin club members, with the invention of the Debit card, dollar loonies and toonies, mass use of Credit cards likely less than one in ten now. I used to carry more than one TEN for the sake of conversation with other numismatists.
It is no wonder why far fewer TEN circulate, boils down to the proverbial supply and demand, less demand for TENS less supply of TENs available.
I don’t think we will lose the TEN like the $2, but it’s more like the Half. It’s still made but nobody uses it.


Please use your TENS!
A message bought to you by P.U.F.A.T.N
The Peoples United front for the Appreciation for the TEN dollar Note.

 ;D
PD

Teeny guy on my shoulder sez, It's only money mon
friedsquid
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« Reply #6 on: December 04, 2007, 09:17:48 pm »

Having worked for B****S (I will assume you know what I am talking about) for a number of years I had filled up my share of ATM's
What I had found as Punky says, back in the late 80' early 90's many of our machines did $5, $10 and $20 notes. $50 notes where not common at all. It seemed to be the trend for people to take out multiples of 20's as opposed to say 15 or 25 dollars. In time, the $5 bins were discontinued and many were upgraded to $50 notes. Resulting in $10, $20, and $50's.  Here again in time it seemed withdraws where either 20, 40, 50, or higher amounts resulting in machines running out of the higher denominations and the $10 remaining.  It was costly to continue to always fill machines since they can only hold so much, so in time the majority of our machines only carried 20 and 50 notes. This way the machine could carry almost 5-10 times the amount and not require as much filling.  I can't even remember when I last put a 5 yet a ten in a machine.  Anyways this is what my experience is on the subject.
Also as I mentioned before I also see that in our town when I return a few bricks of fives to the bank the town is flooded with these notes to no end, yet if I get bricks of tens I never seem to see them.  Still can't figure that out?
FRIEDSQUID



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Hudson A B
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« Reply #7 on: December 05, 2007, 01:04:55 am »

This is precisely the reason why I started doing bricks of tens-- right around the start of 2005 (and the lost prefix era) MAN was that exciting!


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walktothewater
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« Reply #8 on: December 05, 2007, 07:15:45 pm »

Quote
This is precisely the reason why I started doing bricks of tens-- right around the start of 2005 (and the lost prefix era) MAN was that exciting!

I hear ya Huds...
That's why I still take out a large quantity ($1000) in tens from time to time at my branch.  You can tell it bugs them to no end...but they do it anyway knowing I'm a good customer.  There have also been many times when they say they're not sure they can comply with my request (a shortage maybe?)

I have noticed on many occassions when I carry $20 purposely changing them looking for a decent find (which I never get!) and the till often being short of tens.

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« Reply #9 on: December 06, 2007, 02:42:43 pm »

The shortage of $10s at the bank could be for a couple reasons, no tellar can have that much money in the cash drawer, (robbery provention reasons, etc...), so that type of request would need to be taken from the safe or vault, which often needs 2 or 3 people to go in and sign that the money is leaving the vault, a privlage that not all tellars are permited to do, so if their is not someone available to go into the vault and sign the money out, they may not be able to get you the money.

Secondly, and more likely, banks don't order large amounts of 10s, because on a daily basis, they don't give out many 10s to custormers.  If you withdraw any amount of money, and got all small bills, you would be upset(unless you are a collector).  So the banks always give out the biggest denomonation possiable.  So the bank has no reason to have a large amount of 10s on hand.


In regards to getting 10s as change at your local convience store etc... it's much the same thing, I work at a gas station part time on the weekends, more than 50% or transactions are debit/credit.  Of the cash transactions, most are done with $20 bills that have just been withdrawn from the onsite ATM(the only denomination available in this ATM).  So I very rarely see $10s, I've probably gone entire shifts (100-150 custormers) and not seen a single $10 bill.  Our float which is used for emergency change, is only stocked with $5s or $20s.  $5s can be used for change for 10s or 20s, $20s can be used for change for 50s or 100s, so their is no need for the other denominations.
Punkys Dad
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« Reply #10 on: December 06, 2007, 04:33:06 pm »

Perhaps we can look into the till to see one answer.

1996, In a little snowy canadian town Grocery store.

Boss:       "There you go, a brand new till tray. Merry Christmas."

The notes were new and crisp as he counted out the days float. The new coins had a familiar rattle as they fell into each slot. The young lad happily placed denomination each into its respective slot in the tray then became perplexed and stared up to his smiling Boss.

Cashier:  "Gee, thanks Boss so where do we put these new twoonies?"

The man continued to smile as he put his hand on the lads shoulder and extended his other hand, finger pointing to a particular slot bewteen the brand new bills.

Boss:      "Why right here where we used to put the TENs."

 :o

Teeny guy on my shoulder sez, It's only money mon
X-Savior
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« Reply #11 on: December 06, 2007, 05:54:36 pm »

Agreed, even in the Capital $10's are hard to come by. The only ones I have gotten were ratty and should be withdrawn.  :o

I am tempted to order a few bricks of $10 just to help my fellow citizens feel confident in their $10 notes....  ;D

Sorry Ladies...I am now a Married Man!!!
FogDevil
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« Reply #12 on: December 06, 2007, 06:37:22 pm »

banks don't order large amounts of 10s, because on a daily basis, they don't give out many 10s to custormers.  If you withdraw any amount of money, and got all small bills, you would be upset(unless you are a collector).  So the banks always give out the biggest denomonation possiable.  So the bank has no reason to have a large amount of 10s on hand.

I believe you are correct.  The other four denominations are usually distributed in multiple quantities, but tellers usually distribute only one $10 per customer if required (unless customer requests more).  Like all denominations of banknotes available at many banks, first come, first served.

In regards to getting 10s as change at your local convience store etc... it's much the same thing, I work at a gas station part time on the weekends, more than 50% or transactions are debit/credit.

Welcome to the 21st century - where everything is now electronic.  The usage of paper banknotes (not just $10s) has decreased over the years.  With all the controversy of "global warming" these days, I now think paper money will eventually become plastic.  And all that paper being produced has an effect on the atmosphere, thus resulting in the newer banknotes (printing year 2007 and beyond) being coated with a protective varnish so that the banknotes will last longer, thus reducing the printing of newer banknotes and its costs involved.

Of the cash transactions, most are done with $20 bills that have just been withdrawn from the onsite ATM(the only denomination available in this ATM).  So I very rarely see $10s, I've probably gone entire shifts (100-150 custormers) and not seen a single $10 bill.  Our float which is used for emergency change, is only stocked with $5s or $20s.  $5s can be used for change for 10s or 20s, $20s can be used for change for 50s or 100s, so their is no need for the other denominations.

Yeah.  Most people pumping their cars with gasoline use $20s (especially with the higher fuel prices in recent years).  And eventually the price of gasoline will rise even higher, thus resulting in more demand for $50s in gas bars let alone $20s.

I am tempted to order a few bricks of $10 just to help my fellow citizens feel confident in their $10 notes....  ;D

I'm on the bandwagon with you on this one as well.  Whenever I get paid, I ask the teller for extra $10s.  Besides, $10s are more easily divisible than $20s.
« Last Edit: December 06, 2007, 06:44:48 pm by FogDevil »
Punkys Dad
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« Reply #13 on: December 06, 2007, 07:04:48 pm »


I'm on the bandwagon with you on this one as well.  Whenever I get paid, I ask the teller for extra $10s.  Besides, $10s are more easily divisible than $20s.

Hey I'm already there, had a brick a few weeks ago and ordered another this morning. Last time they got me a brick of circulated ones by accident. Maybe I should have accepted it. So that gets me thinking again, could I order a brick of used notes from the southern half of Alberta and shipped here to Vancouver BC? Worth asking. Could get a cheap BER. And I just got a BEW and a BTF from my liquor store from my deposits, Cool.

 :D

Teeny guy on my shoulder sez, It's only money mon
Seth
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« Reply #14 on: December 06, 2007, 08:39:51 pm »

I'm doing my best to promote the $10 note over at Where's Willy:

http://forums.whereswilly.com/showthread.php?p=2480410#post2480410

Track your Canadian currency online!

http://www.whereswilly.com
friedsquid
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« Reply #15 on: December 06, 2007, 09:53:25 pm »

Quote
Canadian ten-dollar bill
From Wikipedia, the free encyclopedia
The Canadian ten-dollar bill is one of the most common banknotes of Canadian currency

So where are they all?



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FogDevil
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« Reply #16 on: December 07, 2007, 05:31:06 am »

So where are they all?

I think what they mean on Wikipedia when they said that the $10 is one of the most common banknotes in Canadian currency is that it is in the top 3 in frequency.  The $20 would be the most dominant, followed by the $5, and then the $10.  Although $10s are not as common, they are not rarely used like the U.S. $2 bill is.  $10s are the middle denomination in terms of frequency.

Speaking of the lack of $10s in circulation, that reminds me of an occurrence that happened back in 2005:

One evening, during the Christmas shopping season, I was at a local supermarket and I paid for a purchase with a $20 bill.  For almost four months, coincidentally, I was receiving a $10 in my change every time I cracked a $20, but for the first time since that summer I received 3 $5 bills in my change.  And the really disappointing thing about it was that the cashier apparently had $10s in his till (and even worse, they were UNC).

I was desparate to change up 2 of the $5s later in the week, and so I went to the Scotiabank that Friday to cash my cheque, and explained to the teller that I had a "problem" and asked her for one of the UNC $10s that I missed out on.  Well, apparently, they had already received their bulk order for the Christmas season the week before, and while I expected them to not run out of $10s, well, sadly they did.  They lasted 4 days.  The teller even commented that something like this happens only once in a quarter of a century.  It seemed like, for some strange reason, that $10s were a "hot item" at that branch during Christmas 2005.  And to make it even worse, they were experiencing a drought of $10s, until December 30, 2005 (the last banking day of that year) when they ended the year with the branch's first $10s in more than 2 weeks - and they were UNC.  Now that was a spectacular way to end off 2005.  It made me so happy, I would set off fireworks.

If there is to be a moral to this story, it's quite clear.  As the old proverb goes, "Good Things Come To Those Who Wait."  It works - but only if you have an optimistic attitude while you are on a quest for the UNC notes.
« Last Edit: December 07, 2007, 05:48:35 am by FogDevil »
Punkys Dad
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« Reply #17 on: December 09, 2007, 04:38:29 pm »

There, I just got a $10 BEY2945509 98/93 NEAR SNR only 491 away from the range. From an old family owned private Gas station that still has a $10 tray in the till. Thank God for old cash tills! May not be a replacement but it's still a TEN.

Dei Gratia Mon!

Teeny guy on my shoulder sez, It's only money mon
FogDevil
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« Reply #18 on: December 18, 2007, 06:26:42 pm »

I just noted from past experiences that there ARE indeed fewer $10s circulating than in previous years.  I think most likely to blame for this is the ever-increasing prices in recent years.  There seems to be fewer and fewer $10-$15 purchases now compared to that of 2005.  I can see why the BoC have only shipped "newer" prefixes BTG through BTK thus far in Canada during the 2007 print year run, and I have only primarily seen BTH thus far.

Like I had stated in a previous post in this thread, I did receive a $10 in my change more often between August and December 2005.  Such occurrence became less common during that time period last year, and now in 2007, the probability of getting a $10 in my change seems to be similar to winning the top prize on a breakopen ticket.  It's almost similar to finding a "needle in a haystack."

But fortunately, as far as I know, banks still do order the same quantities of bundles of $10s every week as they did in previous years, regardless of the shortage.  It's just that the tellers are much less prone to run out of them nowadays as opposed to this time period in 2005 when the Scotiabank branch I dealt with (and still do) was experiencing a rare but significant drought of $10s - thanks to the major Christmas rush that year where they went like "hot cakes."

EDIT:  I do have one question - if there is a shortage of $10s circulating in Canada, will banks (possibly the smaller branches) eventually be downsizing their shipments of such denominations?  If they currently order weekly, will they eventually be downsizing their order to once every two weeks or something?
« Last Edit: December 23, 2007, 09:37:00 am by FogDevil »
Rag Picker
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« Reply #19 on: January 07, 2008, 06:05:55 pm »

There may be a clue in the outstanding liabilities list of Banknotes for the Bank of Canada that may answer some questions.

It appears half as many $10s are printed compared to $5s and there are almost 7x the # of $20s in circulation compared to $10s.

Recently I was lucky and received about 40 new $10s from BMO and there seem to be more out there now for some reason.

FogDevil
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« Reply #20 on: January 10, 2008, 01:34:24 pm »

But what I am wondering is, if some select banks across Canada (possibly the smaller branches) will possibly be downsizing their shipments of $10 notes eventually.

I noticed that some bank branches do not order $10 notes at all, and some branches do order them on a weekly basis (especially the larger branches).  So the smaller branches that order them on a weekly basis, will they eventually order them on a bi-weekly basis (every 2 weeks) instead of weekly?

And I noticed it has been more than 3 months since the last new $10 prefix, BTK, was first reported (on 10/4/2007, to be exact).  Will BTL or BTM see the light of day in the near future?  If not, I can see why they call this time period the "January doldrums" for shoppers.
« Last Edit: January 10, 2008, 01:39:43 pm by FogDevil »
friedsquid
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« Reply #21 on: January 10, 2008, 03:15:53 pm »

Quote
I noticed that some bank branches do not order $10 notes at all
The branch I deal with (in a rural area) has never ordered $10 notes (unless it was bricks for me) in the past 18 months.
They tend to use fives and twenties I was told



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FogDevil
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« Reply #22 on: February 04, 2008, 03:08:39 pm »

Well, it depends on what location or district you reside.  Depending on the population size, the smaller the location, the less likely the banks will order $10s (as well as $50s and $100s).

And I see a familiar pattern here - it's mainly the busier bank branches that order $10s on a regular basis (the more customers who frequent the branch, the more likely they will order $10s).  And if you were dealing with a bank branch located in a busy shopping mall and deals with an even heavier volume of customers, then that particular branch would most likely order newer $10s.  Smaller branches would be more prone to order $20s and $5s in crisp quantities, but the volume of customers determines if there is a need for crisp $10s since the bank branch would have to possibly pay fees to receive specific orders of infrequently circulated denominations.

And I haven't seen any crisp $10s since I first had exposure to the 2007 print year back in December, but Easter will come sooner than we realize, and we will be seeing some crisp $10s during the week prior to the Easter shopping season.  And if the rumour of prefix FTD holds to be true, then there just so happens there may be a sudden demand for $10s, which means 2007 will end up being the busiest print year for that particular denomination - since the "Printed in 2004" run when we had 12 prefixes total.

But I still think that getting a $10 bill in my change nowadays is just as probable as winning $100 on a pull-tab ticket.  One of the reasons why I very rarely pay for purchases with $20s these days.

I wonder if the BoC will discontinue the $10 someday due to more and more people using Interac for purchases and everything going electronic?
« Last Edit: February 04, 2008, 03:12:36 pm by FogDevil »
Punkys Dad
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« Reply #23 on: February 04, 2008, 07:05:54 pm »

I mentioned this to a member already but I should reiterate it for everyone here too.

 My local branches have just run out of Tens including circulated notes. My regular bank had put up a sign "SORRY, NO TENS." last Friday when I came in with my brick of tens to deposit.  I can tell you the tellers were happy to see me. I live just outside Vancouver and we have a fairly large Asian population here. With Chinese New Year coming around the corner this week Asians love get their hands on and give away crisp uncirculated cash as traditional gifts to relatives and friends. They really want Uncirculated Tens or Fifties if they were rich enough. Fifties are best for their Red and gold color to go with those little red and gold envelopes. It is most unfortunate most notes would have to be folded to be placed in these red envelopes.

Gung hey fat choy mon!


Teeny guy on my shoulder sez, It's only money mon
FogDevil
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« Reply #24 on: February 16, 2008, 12:54:55 pm »

Ever hear of the phrase "stranger things have happened"?  Well, what happened at a local Scotiabank branch I wasn't planning to visit yesterday put real meaning to that particular phrase.

You see, I received my cheque yesterday, and the opportunity arose and I cashed it.  I asked the teller for the best quality $10s and, surprisingly enough, I received some crisp BTJ's over the counter!  And that particular Scotiabank branch doesn't usually receive shipments of crisp $10s to the extent of that of a busy shopping mall!  Especially since it's the middle of February.

Now, I just figured out something here...

The only denominations of crisp bills that banks usually receive shipments of during the "dry spell" are primarily the infrequently used kinds ($10s, $50s, and $100s).  There may be some crisp $20s in some select ATMs.  You see, in order for a bank to receive bricks of 1,000 $10 bills, they would most likely have to accumulate 1,000 tattered notes that are deemed unfit for circulation that are deposited by commercial or regular customers.  It would take a smaller branch a bit longer to accumulate 1,000 tattered $10s before they can exchange them for crisp bills, as they are very infrequently used.  I believe, mainly due to the weather (just my guess), that there wasn't much activity in crisp $10s in 2006 until April that year.

Some branches, large or small, do not usually receive their first shipment of crisp $5s until sometime in March or early April, as there are so many of them in circulation, thus not requiring the need for crisp $5s during what we all know as the "winter doldrums" for shoppers - thus explaining why we saw only a handful of reportings for APF and APK thus far in 2008, and many more of them yet to come.

But to put the thread back to the topic at hand, the moral of the story is you never know what you can expect if you play the game of chance in hopes of getting your hands on crisp infrequently-used bills.  Try your luck, and you may end up hitting the jackpot.  And I sure did Friday, at a time when I least expected it to happen.
« Last Edit: February 16, 2008, 01:04:11 pm by FogDevil »
FogDevil
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« Reply #25 on: July 09, 2008, 07:05:02 am »

Apologies for bumping this thread...

I heard speculation that the majority of banks in smaller provinces (like New Brunswick, P.E.I., Newfoundland, and the 3 territories, to name a few) do not order $10 bills at all.  Is it because there is much less demand for such denomination in any of those provinces, and ordering $10s would be like "clutter" to a bank, as banks have to order them by the bricks and many of them don't get distributed?  If that's the case, I can see why it's good to go to a bank that receives heavy volumes of customer traffic.

And it really does seem like the $10 bill will eventually go the way of the $2 bill by the time the 2015 comes around.  ATMs and debit payments are causing less demand for banknotes (not just $10s), and $10s seem to be a redundant denomination that has very little usage nowadays.  If all the $5 purchases increase to $10 someday, well the BoC will realize that most people use debit cards for payment, and they'll just simply put more $5s in circulation.  Getting $10s in my change was a regular thing back in 1988; but in 2008, 2 $5 bills in anyone's change is pretty much the norms now.
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« Reply #26 on: July 15, 2008, 08:35:19 pm »

It could be. Here in Vancouver (metro population 2 million), my mom has gotten almost constantly $10 notes through change. No obvious shortage here, though it seems like there may have been fewer a couple months ago. I doubt that the $10 note will be removed while they still have the $5.The BoC doesn't seem like the kind of central bank to use an odd denominational system. Besides, if they get rid of the 10, I will NOT be happy...

BTW, I currently have NO political clout.



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FogDevil
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« Reply #27 on: July 16, 2008, 07:10:17 am »

Here in Vancouver (metro population 2 million), my mom has gotten almost constantly $10 notes through change.

You mean to say your mother never or very rarely received $10s from a banking transaction?  ???

No obvious shortage here, though it seems like there may have been fewer a couple months ago.

I can see why it pays to live in Vancouver.  :-\
« Last Edit: July 16, 2008, 07:12:46 am by FogDevil »
Dean
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« Reply #28 on: July 16, 2008, 10:39:06 am »

Besides, $10s are more easily divisible than $20s.

That darn metric system!
LOL! ::)

FogDevil
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« Reply #29 on: July 16, 2008, 10:59:18 am »

That darn metric system!
LOL! ::)

Ah, yes... the "power of tens." LOL! :D
« Last Edit: July 16, 2008, 11:02:17 am by FogDevil »
StormThief24
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« Reply #30 on: July 16, 2008, 03:02:19 pm »

You mean to say your mother never or very rarely received $10s from a banking transaction?  ???

We only get 20s and sometimes 50s from banking transactions, though she is not a collector, and it appears the only way to get tens from a bank are to request them. If you saw that I had a $10 denominational set, the Journey 10 was the second-to last to get.

I mentioned this to a member already but I should reiterate it for everyone here too.

 My local branches have just run out of Tens including circulated notes. My regular bank had put up a sign "SORRY, NO TENS." last Friday when I came in with my brick of tens to deposit.  I can tell you the tellers were happy to see me. I live just outside Vancouver and we have a fairly large Asian population here. With Chinese New Year coming around the corner this week Asians love get their hands on and give away crisp uncirculated cash as traditional gifts to relatives and friends. They really want Uncirculated Tens or Fifties if they were rich enough. Fifties are best for their Red and gold color to go with those little red and gold envelopes. It is most unfortunate most notes would have to be folded to be placed in these red envelopes.

Gung hey fat choy mon!

Being Chinese, Chinese New Year was the only reason why I even have those 10s.
« Last Edit: July 16, 2008, 03:05:25 pm by platyfish124 »



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FogDevil
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« Reply #31 on: July 16, 2008, 03:28:47 pm »

We only get 20s and sometimes 50s from banking transactions, though she is not a collector, and it appears the only way to get tens from a bank are to request them.

Why do customers have to request them at that particular branch?  Are they that rare even at banks despite you living in Vancouver, and that city being a heavily populated one?  Isn't being forced to request such bills such an inconvenience to customers?

I can see why - the bank you are referring to may be located in a not-so-heavy traffic area.  With less customer traffic, there doesn't tend to be very much commercial and customer transactions.  And at a branch that involves heavier traffic, the more commercial and customer transactions involved, the quicker it will take to accumulate 1,000 $10 notes deemed unfit for circulation, and the branches with higher volumes of customer traffic can order crisp $10s more frequently than at a less busy branch.

Banks may have policies that they can only order new notes when they accumulate 1,000 or more worn out bills.  If the branch doesn't get enough traffic (like say, in a smaller community), they don't order the infrequently used banknotes, as it would be a waste of the branch's money that they could have spent on additional $5s and $20s - both of which have much higher demand.

As I have said before, you'll have a much better chance if you go to a branch in a busy shopping mall that deals with tons of commercial transactions.  They'll be most probable to order crisp $10s and all other denominations.  Lucky for me, despite the slightly lower volume of traffic, the Scotiabank I deal with in my neighbourhood does order $10s - though they only receive bricks of crisp $10s about 2 or 3 times annually, or if lucky enough, maybe 4 times per year.  The branch is fortunate enough to order $10s, and I respect that.  I also respect the fact that they get enough commercial and regular customers to be able to order $10s (recycled or crisp).

I'm very grateful that the Scotiabank I deal with even orders $10s.  The Scotiabank doesn't even have to order $10s - they can discontinue ordering such bills at any time.  And I just bet there are some Scotiabank branches out there that don't even order bills of such denomination.
« Last Edit: July 16, 2008, 03:35:22 pm by FogDevil »
StormThief24
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« Reply #32 on: July 16, 2008, 03:47:05 pm »

Honestly, I don't know. I just plain don't know what my local RBC's policies are. For some reason, here, they are showing up in circulation, but not from the banks. I'm not entirely sure that if you withdraw $15 from them using a teller if they will give you 3 5s or 2 5s and a 10. However, I have noticed that there does not appear to be a shortage in the last couple of months. If there is a shortage here, then my BTP that I got from circulation begs to differ. I have no clue because the bank I'm referring to is in the middle of Richmond city centre and gets a significant amount of traffic. Maybe they're just frugal or something. When I said that you have to request 10s, I suspect that I said one sentence too soon and made an assumption.  :-[



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FogDevil
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« Reply #33 on: July 17, 2008, 07:08:43 am »

It really is weird how different banks (especially RBC) do not order $10s.  You would think the BoC would set a mandatory rule that all major bank corporations across Canada have to order $10s no matter what.  They're not frequently used, but they are not as extensive as $100s and $50s.  $10s are the second smallest denomination in existence today.  Maybe all RBC branches across the country have a strict policy that they have to be consistent across the country when it comes to ordering certain denominations.  From what I heard about a certain RBC branch, it doesn't even order $5s let alone $10s.  And the secured cash dispenser onsite at that branch (possibly most if not all branches) do not get loaded with any $10s.  Even though they do not order $5s, they still load them into the dispensers since they are way more frequented than the others (next in line to $20s) - not to mention the majority of the $5s in existence are circulated.

The RBC may be considered the "weakest link" when it comes to ordering $10s.  If I am not mistaken, the Scotiabank is the "strongest link" when it comes to ordering such denominations.  If I were to rank two banks that deal heavily in ordering $10s, Scotiabank would be #1, followed by TDCT.  But those theories may be considered a stereotype, so please correct me if I'm mistaken.

After all, if more banks discontinued ordering $10s, what's the point in having such banknote in circulation?

I'm not entirely sure that if you withdraw $15 from them using a teller if they will give you 3 5s or 2 5s and a 10.

Just a clarification here:  2 $5s and a $10 make $20, not $15.  ;)
« Last Edit: July 17, 2008, 07:10:39 am by FogDevil »
FogDevil
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« Reply #34 on: July 18, 2008, 12:16:00 pm »

One other thing I would like to mention...

I heard that many cashiers do not keep a lot of $10s in their drawers for security reasons.  In 1988, there were lots in the tills, but now there seems to be little to zero at all.

What on earth would a prospective robber want with $10s?  People would think they would target mostly $50s and $100s - unless there are robbers stupid enough to even care for a relatively small denomination that is not frequently used.

Is it possible that robbers mainly target infrequently used bills let alone $20s or $5s?
« Last Edit: July 18, 2008, 12:40:57 pm by FogDevil »
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« Reply #35 on: July 18, 2008, 03:59:03 pm »

One other thing I would like to mention...

I heard that many cashiers do not keep a lot of $10s in their drawers for security reasons.  In 1988, there were lots in the tills, but now there seems to be little to zero at all.

What on earth would a prospective robber want with $10s?  People would think they would target mostly $50s and $100s - unless there are robbers stupid enough to even care for a relatively small denomination that is not frequently used.

Is it possible that robbers mainly target infrequently used bills let alone $20s or $5s?

Robbers will take what they can get- although the prcise case of my theft situation, ALL TENS they stole.   That was a good reason why I was able to trace it.

They will take what they can- no tens , means no tens wil be stolen.  All tens, means all tens will be stolen.

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« Reply #36 on: July 18, 2008, 08:27:58 pm »

Only the sound of the reggae music played rhythm against the quiet dreary evening.  A scruffy man was in the store for a long time considering just choosing a bag of chips and a carton of milk. He placed them by the till as he surveyed the shelves behind the counter. His rather ordinary dark glasses, the baseball cap tilted down, his hands in his pockets. The only other customer let the door close behind him as he stepped into his car and drove into the late night. The scruffy man pushed a crumpled up $5 note towards the clerk.
“Good evening mon, will dat be all?” said the clerk as he rang the items before bagging them.
The man pulled out a small pistol from his pocket and pointed it a few inches from the clerk’s nose, “Yes you doped up fool…you can put ALL the money in the bag too.”
The clerk hesitated a moment then smiled, “No problem boss, do you want da tens too?”
“What do you mean? Yes the tens too!”
“I’m glad to hear dat mon I like to promote da use of tens, they are only a teeny demand now a days.”
“Shut up and finish the job!”
“Okay mon, my friends and I appreciate you use da tens.”
The scruffy man just grunted and waved the barrel of the gun in front of the clerk’s nose again.
“Dey is my favorite bills wit da purple and me favorite Prime Minisi…”
“Are you nuts?” cried the scruffy man.
“Many sorries mon, I don have enough tens for you.”
“Stuff in some of those cigarettes too!”
"Really? Not good for you mon, I know where you can get good ganga."
"Get stuffing that money?"
“Holy Moely mon, a 2003 BER ten, I wanna keep dis one. Dose is a hackle to find mon.”
“In the bag you idiot!”
“Wait, I gets me wallet. I give you my last two fives.”
“Come on hurry up!”
“I know a guy like you would like bran criss new $5 bills too. Anyting else mon?”
"Gimme the bag!" Screamed the scruffy man as he grabbed the bag and bolted to the door.
"Irie mon, cum again!"

Teeny guy on my shoulder sez, It's only money mon
StormThief24
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« Reply #37 on: July 18, 2008, 09:36:11 pm »

In the 21st edition of the Charlton Standard, 2003 BERs are only worth from $100 in VF to $700 in GUnc.  :P Maybe BEL.



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« Reply #38 on: July 18, 2008, 09:41:02 pm »

The two BER notes in the CNA auction today went for $1700 and $2300 resepectively, for PCGS Unc-68 and Unc-69, Wonder if the buyers will be upset when they see the new Charlton...


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csweryda
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« Reply #39 on: December 29, 2008, 09:54:56 pm »

I know my local Credit Union loves 10's.  I think their policy is to always give out at least one ten whenever possible.  You can take out $10, but if you get $20, you get 2 10's, $40 is 2 10's and a 20 and it goes up from there.  Btw, all the 10's from their machine are always new in sequential order.  It's currently my ownly source for new 10's.
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« Reply #40 on: December 29, 2008, 10:36:59 pm »

Guess you could tell if there was a shortage of ten's if you orderd a brick and the bank could not get you one for 4 weeks or so?
Maybe they are in the process of doing changes again, like when they pulled the old ten's and replaced them with the more secure ones.
FogDevil
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« Reply #41 on: December 31, 2008, 06:51:51 am »

Maybe they are in the process of doing changes again, like when they pulled the old ten's and replaced them with the more secure ones.

Or maybe the BoC is determining the future of our $10 bill already?  If so, the fate of our $10 bill may be approaching us sooner than we could realize; and with Canada heading into a recession, demand for our $10 bill is going to take a majorly deep plunge in the coming months.
« Last Edit: December 31, 2008, 01:36:05 pm by FogDevil »
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« Reply #42 on: December 31, 2008, 12:44:09 pm »

I know my local Credit Union loves 10's.  I think their policy is to always give out at least one ten whenever possible.  You can take out $10, but if you get $20, you get 2 10's, $40 is 2 10's and a 20 and it goes up from there.  Btw, all the 10's from their machine are always new in sequential order.  It's currently my ownly source for new 10's.

if you don't mind me asking, what city/town are you in?    it's been a long time since I've seen a machine give out 10's,
csweryda
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« Reply #43 on: December 31, 2008, 01:18:20 pm »

Flin Flon, Manitoba.  It's actually the newest machine in town.
FogDevil
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« Reply #44 on: December 31, 2008, 01:33:37 pm »

it's been a long time since I've seen a machine give out 10's

Many Scotiabank ATMs in Atlantic Canada used to dispense $10s back in the 1990s.  Due to continuously declining demand (which is still occurring to this day) and the possibility of making the machines last longer, the $10s were pulled around 1998.  The RBC pulled the $5s from at least 90% of their ATMs early this decade for the same reason - though the $5 bill had much greater demand at that time and is still increasing to this day.

One Scotiabank ATM did dispense $10s when a local shopping mall had one installed in a cinema complex back in 1999.  The $10s were removed just before Christmas 2002 (possibly because people were withdrawing $10 only at times and was causing a burden of expenses for the branch?), and the Scotiabank ATM followed suit and was replaced shortly afterward with an independently owned ATM that dispenses nothing but $20s.

Last I remembered, the HSBC branch where I live dispensed $10s, but I am not certain if they do now.
« Last Edit: December 31, 2008, 01:35:24 pm by FogDevil »
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« Reply #45 on: January 13, 2009, 01:35:31 pm »

Well, in January last year, the user named Seth tried to promote awareness of our $10 bill by withdrawing an entire brick of $10 bills and spend them.  He attempted to promote awareness on his site, "Where's Willy?" if I am not mistaken.  I wonder how he did with it last year, and I wonder if he did this same thing in January this year?

I am guessing that it's going to take more than just one user to create awareness of our $10 bill.  Publicity doesn't seem to work anymore - not even if it's a television commerical or a newspaper advertisement.  One person ordering 1,000 $10 bills is not enough.  It's going to take thousands of Canadians to create awareness.

I would never go to the extremes in an effort to promote awareness of our beloved purple banknote by ordering 1,000 of such denomination (to me, 20 $10 bills when cashing my cheque is sufficient enough), because if the demand is low, the $10 becomes slow.  I still believe the $10 bill is going into a deeper decline and is likely going to come to an end within about 5 more years.
 

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