At Bank of Canada, the future of money is polymer

4/14/2011

With the focus on enhancing security, the Bank of Canada will begin circulating a new $100 polymer bank note in November, with a polymer $50 note to follow in March 2012.

More details on the security features, themes and designs of these denominations will be unveiled in the spring of 2011.

"Canada's new bank notes will have innovative security features that are easy to verify," said Mark Carney, governor of the Bank of Canada. "The leading-edge technology in these notes will expand the frontiers of bank note security."

In addition to enhancing security, the new bank note series will be easier to verify, more economical and have a reduced environmental impact.

The polymer material is expected to last at least two-and-a-half times longer than the current cotton-paper bills.

To prepare for the new notes, the Bank is working closely with financial institutions and manufacturers of bank note equipment to ensure a smooth transition to polymer.

The remaining denominations—the $20 note, followed by the $10 and $5 notes—will be unveiled and issued by the end of 2013.

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