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Canadian currency gets makeover

Colorful, polymer banknotes last twice as long

[October 11, 2011]

If you visit Canada or work in a business that takes Canadian currency, you're going to start seeing some changes beginning this November.

Canada is switching to polymer bank notes that are expected to last more than twice as long as traditional cotton-paper bills. They'll also be easier to verify and much more difficult to counterfeit, says Mark Carney, governor of the Bank of Canada, which issues all currency in the country.

Still more colorful than U.S. currency, the new Canadian bills have a smooth texture, with raised print on some numbers and text, and on the shoulders of portraits. They feature transparent windows, including one in the shape of a maple leaf and another with metallic inserts that change color when they're tilted in the light.

The transition starts in November with $100 bank notes. The Bank of Canada plans to start releasing $50 notes in March, followed by $20, $10 and $5 notes by late 2013. Traditional currency will remain in use, as well. Get more details at the Bank of Canada website.

American currency is undergoing a change, as well, though the U.S. Bureau of Engraving is not abandoning the blend of cotton and linen that’s currently in use. The agency had planned to release a redesigned $100 note in February 2011, but was forced to postpone the release indefinitely, due to production problems. Learn more.

And remember that you can exchange Canadian currency for U.S. currency at any STCU branch location.