Amusing article (“Canada’s New Banknotes Strike Some as Loonie“) in this weekend’s edition of The Wall Street Journal on the recent switch in Canada from paper to polymer currency. The principal reasons given by the Bank of Canada, the official issuer of the currency, for adopting the new bills are durability and prevention of counterfeiting. I’ve previously remarked on the creativity of the Royal Canadian Mint with its wide variety of designs for the country’s coinage and I find it interesting how Canada has done away with the dollar bill in favor of the dollar coin, an effort that has been tried in the States but not done very well here. This year also marks the first year that the Canadian 1 cent coin will not be minted.
In any event, it seems that among other complaints about the new banknotes is that in certain conditions the notes will melt, notwithstanding the Bank of Canada’s assurances to the contrary. The WSJ article details some other related mishaps. What I find more intriguing from an American perspective — and even with an understanding of the historical connection to the British monarchy — is the continuation of Queen Elizabeth II’s image on one side of Canada’s current 5¢, 10¢, 25¢, 50¢, $1 and $2 coins (and the penny while it was minted) as well as the $20 note . (I plan to return to that peculiarity in a future post.)
Image Credit: Bank of Canada