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

Author
Topic: The future of Canada's $10 bill  (Read 21561 times)
friedsquid
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« Reply #30 on: April 22, 2009, 02:05:37 pm »

I have found (living in a rural area) the banks get totally ticked off when you insist on getting anything over $100 in $10 notes. The funny thing is that they don't want to give them out because they say they don't have enough, yet when I offer to return new bricks of $10's they basically refuse to take them because they say that they will never use them and will have to make a special order to have them picked up so they don't have the cash in the branch, and this costs them money and paperwork that they don't want tod do.  I have been told by many bank managers in our surrounding area that banks try to keep only what they think they need in cash and avoid having excess due to risk.  (we have had 3 robberies in less than 2 months time which is a lot for a small community.)
The funny thing is that the biggest worry is in the winter months when our roads close frequently so it is very possible for a bank to actually run out of cash to dispense should people suddenly want cash if they can't get out of town.
I guess that is the difference between living in a small town as opposed to a larger city




Always looking for #1 serial number notes in any denomination/any series
AZ
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« Reply #31 on: April 22, 2009, 02:52:27 pm »

No, the demand is here. The problem is that BOC for whatever reason is not printing enough tens. Very often I am given 2 or more $5 bills in change simply because the cashiers have run out of tens. Why would BOC be increasing their costs by printing and circulating five dollars bills in place of ten dollar notes?

The overall demand for cash may be steadily going down, but the proportion of bills of different denomination in circulation should be staying the same.
Seth
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« Reply #32 on: April 24, 2009, 10:25:41 am »

No, the demand is here. The problem is that BOC for whatever reason is not printing enough tens. Very often I am given 2 or more $5 bills in change simply because the cashiers have run out of tens. Why would BOC be increasing their costs by printing and circulating five dollars bills in place of ten dollar notes?

The BoC injects their cash into circulation by filling orders from their customers; the big banks.   If the banks aren't ordering tens, then the BoC doesn't issue any.  The BoC can't force the circulation of tens by giving the banks something they didn't order and don't seem to want.

So if anyone wants more tens in circulation, the thing to do is request more tens from the bank and start spending them.  If your bank scoffs at that, start your own bank!  The Bank of Sir John A!
« Last Edit: April 25, 2009, 02:46:53 pm by Seth »

Track your Canadian currency online!

http://www.whereswilly.com
FogDevil
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« Reply #33 on: April 25, 2009, 06:03:30 am »

Well, it looks like our $10 bill is going to be around for a while longer.  They did happen to recycle a denominational letter instead of advance to the CD* run.

That is good news for people like me who was worried about the possible demise of our $10 bill due to low circulation.

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