Poll

Do you think the BoC will someday discontinue the $10 bill due to low usage?

Yes
3 (8.1%)
No
30 (81.1%)
Maybe
4 (10.8%)

Total Members Voted: 0

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Topic: The future of Canada's $10 bill  (Read 26474 times)
bc collect
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« Reply #15 on: January 12, 2009, 08:00:42 pm »

Getting two consec. bills is very rare unless they are new, I have had many bundles of used notes and you are lucky to get within 100 or so.
FogDevil
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« Reply #16 on: January 28, 2009, 06:35:13 am »

Well, I had a prediction just hours before the Federal Budget was announced yesterday that the $10 bill would be removed from circulation due to the recession and the fact that a lot of $5-$10 purchases will most likely decrease greatly due to the many national businesses that are closing this year.  Apparently, there was no mention of the $10 bill being removed from circulation this time around, so our $10 bill is safe - at least for now.  But I still think it will survive only a few more years, as the demand for such banknote has been declining for years, and still counting.  The BoC may even issue a press release announcing that the $10 will be removed, and it doesn't have to be budget related.
After all, the BoC did issue a press release when the $1,000 bill was being removed from circulation in May 2000, and I don't believe it was announced at the Federal Budget that year.

Either way, I'd be surprised if the $10 bill survives the next banknote series, which (the next series) is due out in a couple of years time.
EyeTradeMoney
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« Reply #17 on: February 07, 2009, 08:05:23 pm »

I heard that after the Queen deceses, she will be replaced by Pierre E. Trudeau on the $20 bill. So said Jean Chretien after Trudeau passed away. It would be well deserved.

However, there won't be any more royalty on any of our notes. Canada needs to bring back the $1000 bill. It's not like $1000 is worth anything close to what it was worth 15 years ago, and it certainly won't be worth that much after the recession ends and we go boom again.
FogDevil
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« Reply #18 on: March 04, 2009, 11:00:28 am »

Well, it makes sense to put Trudeau on our $20 once the Queen passes away.  She's not that far away from dying, as far as I know.

As for putting Sir John A. MacDonald on our $20 in lieu of the Queen, I honestly think that MacDonald seems to be a more redundant Prime Minister for 21st century education.  A lot of the stuff he gave to Canada is now used very little to not at all.  He brought us the railway and nobody rides by train anymore (maybe due to climate change awareness).  Nobody believes in the fur trade anymore.  And It's likely that MacDonald is not discussed or even referenced in schools much nowadays.  Not to mention that he was voted #8 on the list of Greatest Canadians in history, according to a CBC mini-series in 2005.  I was kind of expecting him to be voted #1 myself, but it seems that Medicare is more important than what MacDonald got us back in the early days.

And I see that I am not the only one who voted that the $10 bill will be retired someday.  I wonder if anyone from the BoC reads these forums and takes these posts into consideration?
BWJM
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« Reply #19 on: March 04, 2009, 11:15:26 am »

He brought us the railway and nobody rides by train anymore

Have you been to Toronto's Union Station during rush hour? Sure, long distance passenger service has suffered from decreased ridership to the benefit of the automobile and air travel, but commuter rail is quite busy. GO Transit (the operator of GTA commuter rail services) is even planning expansions to its service. Cities around the continent are looking at installing new light rail services or improving existing services to help combat traffic congestion. Also, we need to remember that the railway is not just used for passenger service. Freight is a big use of railways.

BWJM, F.O.N.A.
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President, IBNS Ontario Chapter.
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Fellow of the Ontario Numismatic Association.
friedsquid
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« Reply #20 on: March 04, 2009, 02:14:25 pm »

Don't forget the MacDonald/Cartier Freeway (HWY 401)....I know I use it ;D



Always looking for #1 serial number notes in any denomination/any series
eyevet
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« Reply #21 on: March 04, 2009, 03:16:55 pm »

I'd vote for Pearson instead of Trudeau.  Pearson even won the Nobel Prize!!!


friedsquid
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« Reply #22 on: March 04, 2009, 03:19:34 pm »

I'd vote for Pearson instead of Trudeau.  Pearson even won the Nobel Prize!!!
But Trudeau had T-Shirts with FUDDLE DUDDLE on them ;D



Always looking for #1 serial number notes in any denomination/any series
Australia
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« Reply #23 on: March 04, 2009, 05:07:57 pm »

I would be rather surprised that $10 notes would disappear when compared to similar countries that use the dollar.  Here in Australia the $50 note is significantly more common than the $50 is in Canada as least as common as the Canadian $20 ( at least the last time I was back in 2006).

Multiples of $50 are all you will generally get out of an ATM and are commonly excepted for small transactions, like pickup the newspaper.

The $10 note is still fairly common here in Australia for daily transactions, the $10 would probably have the same status as the $20 here and I would assume the same in New Zealand and I would expect the same in the United States.

I think you will see a $5 coin and the penny disappear before you see the $10 note disappear. 

The Australia penny has been gone since 1991 and $1 and $2 were replaced by coins in the mid-1980s.
Hudson A B
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« Reply #24 on: March 04, 2009, 06:08:35 pm »

The Amero will replace everything, in denominations of  3, 7, 11, and 19 Ameros.

Half kidding....  the denominations? forget it.

I give the nation wide currency less that one generation before arrival (that is only due to the implosion of the world markets).  Who knows.  lol


Oh right- this is about Canada's $10?  They will be around until then, just smaller and smaller amounts.


CPMS Lifetime Member #1502.
FogDevil
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« Reply #25 on: March 24, 2009, 11:47:37 am »

No, Brent, I've never been on a train before.  The public transit is my route to go for going places (no pun intended). ;)  And I completely forgot about freight being pulled by trains still to this very day.  But what about companies such as Day & Ross who rely on the Trans-Canada Highway for shipping?

Back on topic about the $10s, I am uncertain when the Amero will become reality.  It's probably in the works, but we'll probably be seeing one or two more series of Canadian banknotes before that ever happens.

And I just realized something here:  Some provinces do go many years with little or no demand for $10 bills, but then after a while those provinces become richer than they were in decades, and the demand for the $10s (and other denominations) for those newly-rich provinces will increase - although there will still be more $5s than $10s, but an increase in $10s will likely prevail.  That said, I think I am going to hold off on my guess that the BoC will discontinue printing $10 bills for a while.  And I agree with Australia on his comment about seeing $5 coins and seeing the disappearance of the penny before we lose the $10 bill for good.  But it is up to the BoC what they will do with the future of our $10 bill.
« Last Edit: March 24, 2009, 11:49:20 am by FogDevil »
Seth
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« Reply #26 on: April 20, 2009, 12:56:34 pm »

The $10 will most definitely be discontinued someday.  Maybe not in our lifetimes, but eventually it will.  When inflation drags its value down to a low enough value, it will be replaced with a coin.  When a can of pepsi costs $10, a coin will be much more viable for such a low value denomination.  The $5 note will be gone too by then, for the same reason.  This is exactly what happened to the shinplaster, the $1, and the $2 notes. 

The $500 note will also make a comeback for the same reason.

Track your Canadian currency online!

http://www.whereswilly.com
FogDevil
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« Reply #27 on: April 22, 2009, 01:06:06 pm »

Well, it turns out that there are new $10 prefixes somewhere in Canada with new signatures.  We are currently at BTW at this moment, and that means give it until around June or July, we will find out if we see one of the remaining recyclable $1 or $2 denominational letters - B, C, F, G, or U - or if we go all the way back to the earliest $10 denominational letter in the rotation - the letter D - and see CDA.  If it's the latter, that may be an indicator that our $10 bill may be on death watch, and may end up being removed from circulation possibly before the next series of banknotes is released.  But it is up to the BoC what they do with our currency.
« Last Edit: April 22, 2009, 01:13:21 pm by FogDevil »
AZ
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« Reply #28 on: April 22, 2009, 01:15:57 pm »

Come on really, nobody will take the $10 banknote out of circulation, unless very high inflation makes the bill close to worthless. Why print and circulate two $5 bills when you can circulate a $10? Does not make any sense.
FogDevil
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« Reply #29 on: April 22, 2009, 01:36:49 pm »

Come on really, nobody will take the $10 banknote out of circulation, unless very high inflation makes the bill close to worthless. Why print and circulate two $5 bills when you can circulate a $10? Does not make any sense.

The key is demand.  The $10 bill seems to have slowly lost power since the early 1990s, and now we are well into the 21st century where $10 bills are very hard to come by.  We very rarely see them in our change now.  Some banks don't even order them (depending on the nature of the traffic), and some may be dropping the $10 bill if the traffic drops.  At least one RBC branch in my hometown did drop the $10 bill from their central cash dispenser in favour of more $20s.  Not to mention that more people pay with plastic over cash nowadays.
 

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