Plastic Money Makes perfect Sense

This November marks a historic first for Canadian currency, as the Bank of Canada (BoC) begins rolling out the latest $100 banknotes, the Polymer Series, acquainting Canadians to plastic money.

If money is power, these polymer banknotes are king. Lasting 2.5 times longer than cotton-based bills, these plastic notes utilize a biaxial-oriented polypropylene substrate developed by Australian manufacturer Securency International.

This innovative substrate, known as Guardian®, has already shown its face in 32 countries since the Reserve Bank of Australia embraced it in 1988, and will denote the first time anything other than paper is fully used for Canadian notes.

Since 2001’s sharp rise in counterfeited Canadian currency, the BoC has diligently implemented high-grade security features, such as fine-line printing and raised ink to defend against forgery. To continue this crusade against counterfeiting, the coming cutting-edge currency uses an innovative clear window, similar to other international bills. The Canadian Polymer series, however, will be the first to cash-in on a holographic stripe in that transparent space. This stripe will hold a smaller metallic portrait of the individual on the bill, while a second window will house a frosted maple leaf that, if held to a single-point light source, displays the note’s value to add further security. These news notes are not only trickier to imitate, but give a distinct look and feel as well. On the environmental front, the polymer notes are durable and recyclable. Since the BoC’s aggressive anticounterfeiting actions, there has been a significant decline in forged bills.

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Although visually modern, the new notes hold an air of familiarity by retaining the bills’ conventional size and colour. The design also expands on the preceding Canadian Journey series by promoting pride in our country’s history. The $100 bill highlights medical innovations with images of DNA, insulin and a female researcher, while the $50 bill features CCGS Amundsen, the Canadian research icebreaker. The $20, $10 and $5 bills will feature the Canadian National Vimy Memorial, the Canadian Transcontinental Train, and Canadarm2 and Dextre, respectively, when they’re released throughout 2012 and 2013.

www.bankofcanada.ca