Economic
Education
Out
with the Old, In with the New
Scenario
OTTAWA,
July 16 /CNW
In
the not-too-distant future you'll step up to an ATM, withdraw cash to buy
lunch, and be surprised at what the machine dispenses. No, it won't be a
much larger amount than you requested. It'll be brand new polymer bills.
Your
first experience handling polymer notes will no doubt be exciting. You'll
keep running your fingers across the smooth, light-weight film.
The
introduction of polymer notes will mark the end of an era. Beginning late
in 2011, we will start to bid farewell to paper bills. As the polymer
series is phased in and older notes are removed from circulation, paper
money will become less and less common. There's one for the Canadian
history books.
Someday
you'll tell your grandchildren, "Back in my day, money was printed on
paper," and they'll react in disbelief.
Paper
has served us well for a very long time. The Bank of Canada's notes have
been printed on paper since its first series was issued in 1935. As
continual improvements were made to security printing from one series to
the next, the paper held up.
Our
current Canadian Journey series bank notes incorporated new security
features right into the paper. For the first time ever, Canadian notes
contained a ghost image (watermark) and a woven security thread that
appeared as metallic dashes on the back of the notes. The other new and
most visible security feature was a colour shifting metallic stripe.
Did
You Know?
Since
the current series was introduced, counterfeiting rates have dropped
dramatically. In 2009, the number of counterfeits passed in Canada dropped
by 88 per cent when compared to 2004 levels. The security in the Canadian
Journey notes, combined with increased note verification at the cash
register, are largely responsible for halting the fraudster's ability to
reproduce a passable fake.
But
in the Bank's efforts to stay several steps ahead of counterfeiters,
change is coming. And it's great for Canadians.
CHECK
TO PROTECT - SECURITY FEATURES IN CANADIAN JOURNEY SERIES BANK NOTES (with
metallic stripe)
T.I.L.L.
Touch
the front of the bill. The ink in the large number, the portrait, and the
words BANK OF CANADA - BANQUE DU CANADA along the left edge feel thicker.
Tilt
the bill. Check the colour shifts in the metallic stripe on the front and
the dashes on the back.
Look
through the bill. Hold it up to the light to check the ghost image, puzzle
number, and dashes forming a solid line.
Look
at the appearance and action of each security feature carefully.
For
further information: and free training tools: www.bankofcanada.ca/en/banknotes,
education@bankofcanada.ca,
1 888 513-8212; For story ideas or to get more information on Canadian
bank notes, please contact media relations at 613 782-7305 or email jgirard@bankofcanada.ca
The
above article prepared and distributed courtesy of the Bank of Canada.
