Polymer cash tougher to counterfeit

[jesseps]

Canadians will be using newly designed money printed on polymer instead of cotton-based paper bills by next year as part of a plan to modernize the currency and crack down on counterfeiting, Finance Minister Jim Flaherty announced Thursday in the federal budget.

 

The Bank of Canada plans to start printing the new bills within the next 18 months.

 

"These new notes will have security features and they will be easy to authenticate," said Julie Girard, a spokeswoman for the Bank of Canada. "People will know if it's genuine and (the new bank notes) will be hard to counterfeit ... All of this will help us stay ahead of counterfeiters."

 

Loonie and toonie coins are also slated to undergo changes in their composition to reduce costs at the Royal Canadian Mint, but "will bear the same look and feel" as the existing ones, said Royal Canadian Mint spokeswoman Christine Aquino.

 

Canadian nickels, dimes, quarters and half-dollars already switched to the patented multi-ply plated steel technology in 2000. It is less expensive than producing coins that are primarily made out of nickel or copper.

 

Aquino said the Mint estimated the changes would result in annual savings of $15 million and more durable coins.

 

"We make multi-ply plated steel coins for countries around the world as well," said Aquino.

 

"It is a unique electroplating process which deposits thin, alternating layers of nickel and copper over a steel core, or 'blank.' "

 

The Finance Department and the Bank of Canada were unable to provide detailed estimates on savings for the new bank notes.

 

Girard said that the government will be printing fewer notes since bills made of polymer can last up to two to three times longer than the cotton-based paper bills.

 

The material is considered to be more durable and resistant to tears or damage.

 

The polymer-based bank notes have already been adopted in other countries such as Australia. While the Finance Department indicated that there is only one manufacturer of the polymer material, based in Australia, Girard said that the notes would still be printed in Canada.

 

The bills are expected to have a revamped design, including a small window on the bill that prevents it from being photocopied.

 

The budget also said that the changes would reduce the impact on the environment because the bank notes would last longer and can be recycled.

 

(Courtesy of The National Post via. The Montreal Gazette)

 

Interesting idea. I just hope they can phase out the penny once and for all.

[mcgill]

(Courtesy of The National Post via. The Montreal Gazette)

 

Interesting idea. I just hope they can phase out the penny once and for all.

 

Does anyone know of a currency (that hasn't been severely devalued) that no longer has a penny (or whatever 1/100th of its base unit is)?

[helios_the_powerful]

L'Euro, dans plusieurs des pays adhérents.

[saturnus85]

L'Euro, dans plusieurs des pays adhérents.

 

Not quite. The euro has coins of 1 and 2 cents, actually. In Finland, by law, prices have to be rounded up to the nearest five cents. The 1 and 2 cents are still legal tender, though, and the country still produces local variations of these coins.

[acpnc]

J'arrive du Mexique où j'ai rapporté quelques billets de 50 pesos (valeur approximative de $7.00) qui sont déjà en polymère avec une fenêtre claire où on voit justement au travers du billet. J'ai trouvé que c'était un billet agréable à manipuler, imperméable et effectivement beaucoup plus difficile à contre-faire à cause de son papier unique et fort résistant. Aussi on y retrouve plusieurs caractéristiques, notamment des hologrammes et autres détails techniques, qui rendent la reproduction beaucoup plus onéreuse.

 

Je n'ai d'ailleurs même pas pu le numériser afin de le joindre à mon message, mon imprimante refusant de l'enregistrer après numérisation suivie d'une note d'interdiction.

 

Le Mexique semble au début du processus de renouvellement des ses billets de banque car je n'ai pas trouvé d'autres exemples de billets d'autres valeurs. Personnellement je crois que pour le Canada c'est aussi un pas dans la bonne direction, pour tous les avantages mentionnés dans l'article au début de ce fil.