New Canadian Money

New Canadian money: beautiful, colorful and scarce until now. The Bank of Canada is in full phase launch mode. The latest series of new 5s and 10s join the line-up of the newest printed Canadian 20s, 50s and those wonderful “C” notes.

The new Canadian money is different, unique and distinct as its land, languages and people. “The smell of money” a common old saying brings new meaning to Canada and Canadians. OOOAAAW – the scent of money. Many Canadians and a few brave members of the media have reported the smell of maple syrup that wafts off the newest Canadian bills.

In order to best enjoy Canadian money one must know the rich history of its past. The English and French fought over our fledgling nation throughout the 100 year war. Two of the most powerful Imperial nations at the time mixed it up to own, control and rule these lands and peoples for many reasons.  The “A History of the Canadian Dollar” by James Powell is the definitive history and a must read for any money aficionado, novice or patriotic Canadian. http://www.bankofcanada.ca/publications-research/books-and-monographs/history-canadian-dollar

From playing cards to coins and notes, Canada has a beautiful currency history and the story is fascinating and the odyssey continues today. The nostalgic penny will no more see the light of day whilst the demand of copper has increased the value of the remaining pennies – a hidden advantage to be recycled and live on. In the “Canada Economic Action Plan 2012”, the Federal Government announced it would phase out the penny from Canada’s coinage system. To help consumers, businesses, charities and financial institutions to plan for the change, a transition date of February 4, 2013 was set as the official date that the Royal Canadian Mint would no longer distribute pennies. Rounding up and down will take some time to get used to for retailers, consumers and Canadian businesses. http://www.budget.gc.ca/2012/themes/theme2-eng.html

Money in Canada is not without its own inherent problems; counterfeit currency has plagued the nation several times 5s, 10s and 20 dollar bills have all surfaced at different times. I have had the pleasure of personally receiving two fake 20s from a bank machine just in the last two years. Unknowingly, Canadians have used and passed on hundreds of thousands of dollars. The new Canadian money is many times more safe and secure than most currencies to date. See the latest safety features, information and equipment available to take in, authenticate and transact the new Canadian money. http://www.bankofcanada.ca/banknotes/bank-note-series/polymer/

The Canadian Dollar, commonly known as the Loonie, embarked on its metamorphosis in 1982 changing from paper money to minted coins. We have often learned in a painstaking manner from the last generation the true value of a dollar. It has been told to us, shown to us and demonstrated. It’s all this pent up energy we had in our childhood that enables us to cut loose if and when we can ever get money or it’s more dangerous relative, ‘credit’. This fact of knowing the value of a dollar has little or no effect on the currency and worth as it fluctuates on a daily basis and is based on complex systems, other than the value of other currencies together with fiscal and monetary policies as set by the Government of Canada and the Bank of Canada. The price of bread, milk, eggs, cars and homes have increased considerably, but accordingly, and in line with inflation.

The American Dollar: you cannot mention Canadian money without considering American dollars – our closest geographical neighbor and largest trading partner.
The Canadian Dollar holds its own compared with the United States but has had its ups and downs; in the early 70’s the Canadian dollar was worth more than the greenback. In the 80’s Canada had a policy of making it easier to trade with the U.S. by having a lower dollar that encouraged Americans to buy Canadian and do more business here. In recent times, as America tries to re-invent itself and regain the helm of as a leading economic nation, Canada will get a tremendous boost as America rebuilds and restores its once unchallenged place in world rankings. For now, our currency exchange is almost on par and our financial institutions are in good shape because of good and strong government policies.

“Old money is better than new” a statement that refers to extreme family wealth or inherited money. Newsflash! There are now more self-made Canadian millionaires today than ever before
yet the gap of the 99% and 1% grows exponentially.

New Canadian Money is here and we should enjoy it and embrace it, covet it, have it, hold it and learn to share it with those that have nothing, less or not enough. The color of money will not change and the meaning of money will not change; but change we must! With time, technology and circumstance, our young and growing world-class nation must change to grow.

Bank of Canada – Plastic Money Roll-out

New Canadian Money
New Canadian Money

Is Your Business Ready for Polymer Notes?

OTTAWA, July 17, 2012 /CNW/ – Are you ready? More specifically, is your cash-handling equipment ready for polymer money? If your business uses automated banking machines (ABMs), vending machines, self-serve checkouts or cash counters, you’ll want to check that your equipment is compatible with polymer notes. It may need to be upgraded, or in some cases replaced.

The Bank of Canada recommends that you call your equipment supplier or manufacturer with any questions about machine compatibility and plans for upgrades.

The Bank also has tools to help you as Canada transitions to the new, more secure and more durable polymer notes.

Book a Free Training Session

The Bank provides free bank note training seminars across the country. These presentations can be customized to suit your business needs and are occasionally presented in partnership with local police agencies. Topics include bank note security features, what to do with a suspected counterfeit, and how to handle polymer notes.

Order Free Training Materials

Our free materials can help you start out on the right track. You can download or order the Bank’s full suite of products by visiting www.bankofcanada.ca/banknotes and following the link for Materials.

Benefits For You

Polymer notes are full of benefits:

  • They’re more secure, with leading-edge security features that are easy to check and hard to counterfeit.
  • They’re very durable, lasting at least 2.5 times longer than paper notes and having a reduced impact on the environment.
  • They’re easy to handle. Polymer notes feel different from their paper counterparts, but they’re just as simple to use.

To learn more:

Issue Dates

  • $100 and $50: now in circulation
  • $20: coming in November
  • $10 and $5: by late 2013

 

 

For further information:For high resolution images of polymer notes, more information and free training tools:
www.bankofcanada.ca/banknotes
education@bankofcanada.ca
1 888 513-8212To schedule an interview or to get more information on Canadian bank notes, please contact media relations at 613 782-8782 or email communications@bankofcanada.ca.

 

“New Canadian Money” MONEY.CA says its gold!

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New Canadian Money – Money Canada

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