Canada to start using polymer currency bills from November 2011
June 23, 2011‐ Ottawa, Canada
The Bank of Canada and the RCMP are seriously considering introduction of Canadian $100 bills that are made out of special polymer instead of the traditionally currency paper so that the bills last longer and will not tear. If successful, Canada will try the more popular C$50 bills starting March 2012 while $20, $10, and $5 will follow by the end of 2013.
The new currency bills will be made out of special polymer and are nearly impossible to fake. The currency-grade polymers are first developed in Australia about 20 years ago and are used in 32 countries worldwide. The new Canadian bills can be recycled into other products and hence are eco-friendly. The note has a different surface, raised ink, transparent areas and has features that fall in between that of a paper note and a plastic note. Minister of Finance Jim Flaherty, Royal Canadian Mounted Police commissioner William Elliott and Governor of the Bank of Canada Mark Carney unveiled the new $100 and $50 bills.
Canada authorities have been working hard after a record amount of fake currency was detected during the decade. In 2004, fake notes are at a record high. There are as many as 470 counterfeit notes detected per one million notes in circulation. With there is increased usage of cash-less transactions, nearly half of all transactions in Canada are made out of cash.
The new $100 bill features Canada's contribution to medical innovation. It features pictures related to researchers' breakthroughs in the discovery of insulin, mapping DNA and inroads in heart health. Prime Minister Robert Borden was portrayed on the note.
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