Bank of Canada set to issue new polymer currency

In an effort to improve security, the Bank of Canada (BOC) will begin circulating a new $100 polymer bank note in November 2011, with a polymer $50 note to follow in March 2012.

The remaining denominations-the $20 note, followed by the $10 and $5 notes-will be unveiled and issued by the end of 2013, the BOC said in a statement.

“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, have a reduced environmental impact, and last at least 2.5 times longer than the current cotton-paper bills in circulation.  

The BOC said it is working closely with financial institutions and manufacturers of bank note equipment to ensure a smooth transition to polymer.  

More information on the new polymer bank note series can be found in a background document on the BOC’s website, at this link.