Get ready for more plastic in your wallet; Canada switching to polymer bills
Posted Jun 20, 2011 06:06:16 PM.
This article is more than 5 years old.
Newly designed bank notes will be sliding into your wallet starting this November. The new notes feature more distinct colours and a new design theme: “Frontiers.”
More importantly, the notes are designed to be more secure in an effort to fight counterfeiting launched by the Bank of Canada and the RCMP.
New elements like, hidden numbers, a frosted maple leaf window, transparent text, a metallic portrait and hidden numbers are included to make the notes more secure and more difficult to replicate.
The images on the bills explore Canada’s achievements in medicine, space travel, research and policing.
But the new notes are more than just a face-lift for Canadian currency since the rebuild starts with brand new material.
These notes are made of polymer which the Bank of Canada says is cheaper to manufacture and far more durable than the cotton which makes up our current notes. They are also recyclable and have a smaller carbon footprint according to Governor Mark Carney who added the notes are unique.
“This new series of bank notes combines innovative technology with Canadian ingenuity. They were developed by a team of physicists, chemists, engineers and other experts from the Bank of Canada and across the global bank note industry,” said Carney.
RCMP Commissioner William Elliott said the new designs came out of the necessity of fighting counterfeiting.
“It (counterfeiting) has a direct impact on the stability of Canada’s currency,” said Elliott. “It exposes individuals and businesses to financial losses and strengthens the capacity of organized crime.”
He says the new security measures detailed above will make it easier for businesses and individuals, as well as police officers, to recognize counterfeit bills. The Bank of Canada has created a new manual and training system to teach clerks and others about the new bank notes.
Finance Minister Jim Flaherty unveiled the theme of the new notes saying “Frontiers” was an apt name for this series.
“The new bills push the frontiers of technological innovation,” said Flaherty. “You will also see the theme of frontiers reflected in their designs. Images that celebrate Canada’s achievements here at home, around the world and even in space.”
The $100 bills will come into circulation starting in November with the $50 bill following in March, 2012 and the $20, $10 and $5 bills being phased in by the end of 2013.
