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.

The Last Post – New 20 Dollar Bill Remembers Vimy Ridge

LastPostFund.ca Give back to those who gave the most. New $20.00 Remembers Vimy Ridge do you?

OTTAWA, Aug. 27, 2012 /CNW/ – For most of us, references to Vimy Ridge only hint at a distant high school history lesson on the First World War. But with the passing of Canada’s last veteran of the First World War in 2010, it is becoming increasingly important for us to remember the sacrifices of a generation of men and women whose lives were touched by war.

Each November we don our poppies as a symbol of remembrance, but this year we’ll have another reason to pause and take note.

The new polymer $20 bank note will begin circulating in November; its new design may serve as a refresher history lesson on a victorious battle that is often described as Canada’s coming of age.

The back of the $20 note features the Canadian National Vimy Memorial and pays tribute to the contributions and sacrifices of Canadian men and women in all military conflicts. The iconic monument is located in Vimy, France, and commemorates the Battle of Vimy Ridge. The monument bears the names of the 11,285 Canadian soldiers with no known resting place in France.

Poppies also appear on the back of the new $20 note. These images of the flowers that are synonymous with remembrance will soon be seen by Canadians every day.

The Battle of Vimy Ridge

On 9 April 1917, all four divisions of the Canadian Expeditionary Force united for the first time to take Vimy Ridge, a strategically important position in France that had eluded previous attempts by Allied forces between 1914 and 1916.

The Vimy Memorial

Located at the highest point of Vimy Ridge, the memorial was erected on land granted permanently to Canada by France in 1922, in recognition of Canada’s war efforts. The inscription on the base of the monument reads, “To the valour of their countrymen in the Great War and in memory of their sixty thousand dead this monument is raised by the people of Canada.”

Designed by Canadian sculptor Walter Seymour Allward, the limestone monument features two pylons that stand 30 metres high. With a maple leaf carved in one and a fleur-de-lis in the other, the pylons represent the sacrifices of people from Canada and France.

There are twenty sculpted allegorical figures on the monument. Among them is a group known as “The Chorus.” They represent the virtues of Peace, Justice, Hope, Charity, Faith, Honour, Truth and Knowledge. Reaching upward with a torch, Peace is the highest figure on the monument.

Poppies

The presence of red poppies in battlefields and burial grounds throughout Europe during the First World War inspired the symbol of remembrance that we know today. Mourning the death of a friend, Canadian military doctor and artillery commander Major John McCrae wrote “In Flanders Fields,” the now-famous poem that reflects on the living presence of poppies in a landscape devastated by war.

On 11 November, people around the world will pause to remember. With this new $20 note, Canadians will soon have another means to remember—year-round and every time they open their wallets.

For more information on polymer notes and their security features, visit www.bankofcanada.ca/banknotes.

Did You Know?

The $20 note accounts for over half of all bank notes in circulation. There are over 845 million $20s in circulation.

Watch the $20 Note Video

Visit www.bankofcanada.ca/banknotes and watch the new $20 polymer bank note video that describes the Vimy memorial and explains the note’s innovative security and design.

Vimy Foundation

For more information about the battle and the Vimy memorial, visit www.vimyfoundation.ca or www.museedelaguerre.ca/cwm/exhibitions/vimy/index_e.shtml

SOURCE: Bank of Canada

 

For further information:For high resolution images of polymer notes, more information and free training tools:
www.bankofcanada.ca/banknotes
education@bankofcanada.ca
1 888 513-8212For story ideas or to get more information on Canadian bank notes, please contact media relations at 613 782-7305 or email jgirard@bankofcanada.ca.