Paper bills to be replaced with Plastic money
By: THE CANADIAN PRESS
Mon, Jun 20 - 6:30 PMStarting in November, new
polymer bank notes will start to replace paper-cotton bills that wear and tear more easily.
The first bills to go plastic will be the $100 notes. The $50 notes will follow next March. The rest of the plastic money will be in circulation by the end of 2013.
The polymer bank notes are more durable than paper money. The Bank of Canada expects the new bills to last 2.5 times longer than the paper ones. They're also harder to fake than paper money. Some of the security features built into the new notes include raised ink, hidden numbers and metallic images in see-through windows.
The bills feel smooth and slightly waxy. They don't crumple easily, but they do crease when you try, and they don't seem to tear in half. The colours of the new bills have not changed.
The Conservative government announced in its 2010 budget that Canada would be switching to synthetic bills.
Bank of Canada Governor Mark Carney said the notes are necessary to fight counterfeiting. The number of counterfeit bills in circulation peaked in 2004, but has been steadily declining since. "The polymer notes we're introducing today are unique," Carney said. "There's simply no other currency like them."
Finance Minister Jim Flaherty and RCMP Commissioner William Elliott joined Carney for the announcement in Ottawa. Senior Bank of Canada officials say they're confident the new notes won't melt in the dryer or harden in the winter.
Qorax____________________________________________________________________________________________________
SOURCE:
http://thechronicleherald.ca/Front/9021197.html
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