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November 23rd 2010 1400hrs


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Canadian currency to go plastic next year
Topic Started: Mar 5 2010, 04:18 PM (30 Views)
xray
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Canadian currency to go plastic next year

March 05, 2010

Jennifer Yang
Toronto Star

Paying with plastic will take on a whole different meaning next year as the Bank of Canada begins introducing plastic dollar bills.

The federal government announced in its budget yesterday that it is “taking steps to modernize Canada’s currency and protect against counterfeiting,” introducing a new currency printed on a polymer material.

Plastic bills have proven to be more durable than the current cotton-based money, reportedly lasting four times as long.

Polymer money has other benefits too: it is cleaner, cheaper to produce and harder to counterfeit than cotton-based paper bills.

The bills are also more green — because the money lasts longer, it will cause a lower impact on the environment, the federal government contends.

The plastic banknote was first introduced in Australia and several countries have since adopted the polymer money, including New Zealand, Mexico and Vietnam.

According to the federal budget, Canada’s loonies and toonies will also be undergoing a transformation in 2011, with a new composition that uses the Royal Canadian Mint’s cheaper “patented multi-ply plated steel technology.”
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It could have been a misprint, but are we going to get one 'dollar' bills again.... or did I read that wrong? If so, I for one would be very pleased. :thup:
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Beancounter

Sounds good to me! Given the choice, I use plastic (AMEX, MC and VISA) as much as possible. This will make it 100%. No more loonies and toonies? Fine with me.
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