Plastic-based cash coming in 2011
By Ian Robertson, QMI Agency
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TORONTO -- A shop clerk's traditional query, "Will that be cash or plastic?" takes on a whole new meaning next year.
Mostly secret plans to finally issue Canadian banknotes on plastic-based material are well under way.
But nine months after the federal budget announced new currency, Bank of Canada and Department of Finance staff remain tight-lipped about imagery and when the bills will be unveiled.
Officials even refused QMI Agency requests to confirm or deny Queen Elizabeth's image will make the cut. She's on the $20 bill, but former prime ministers are on the other four.
Bank of Canada spokeswoman Julie Girard would only say "there will be certain legacy features," cautiously suggesting "culture" and Canadian themes.
"It will be late 2011 that we'll issue the notes," she said recently.
The federal agency will retain two private Ottawa security printing firms to produce Canada's folding money, but she wouldn't reveal the source of the polymer-based material, since "we're still in contractual negotiations.
"It's two to three times more durable and lasts longer than current cotton-based notes," Girard said. "There is definitely a cost savings."
Such currency "is harder to counterfeit, but easier to verify," she said.
Counterfeiters routinely adapt their forging methods with each new banknote series, which undermines the public's confidence in Canada's money when word spreads, Girard said.
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By Ian Robertson, QMI Agency
Article Link
TORONTO -- A shop clerk's traditional query, "Will that be cash or plastic?" takes on a whole new meaning next year.
Mostly secret plans to finally issue Canadian banknotes on plastic-based material are well under way.
But nine months after the federal budget announced new currency, Bank of Canada and Department of Finance staff remain tight-lipped about imagery and when the bills will be unveiled.
Officials even refused QMI Agency requests to confirm or deny Queen Elizabeth's image will make the cut. She's on the $20 bill, but former prime ministers are on the other four.
Bank of Canada spokeswoman Julie Girard would only say "there will be certain legacy features," cautiously suggesting "culture" and Canadian themes.
"It will be late 2011 that we'll issue the notes," she said recently.
The federal agency will retain two private Ottawa security printing firms to produce Canada's folding money, but she wouldn't reveal the source of the polymer-based material, since "we're still in contractual negotiations.
"It's two to three times more durable and lasts longer than current cotton-based notes," Girard said. "There is definitely a cost savings."
Such currency "is harder to counterfeit, but easier to verify," she said.
Counterfeiters routinely adapt their forging methods with each new banknote series, which undermines the public's confidence in Canada's money when word spreads, Girard said.
More on link
