News

'Will you be paying with plastic ... or plastic?'

March 27, 2012

On Monday, the Bank of Canada introduced a new $50 bill printed on a state-of-the-art polymer material, a news story in the Winnipeg Free Press reported. The introduction of the new "plastic money" is part of Canada's sweeping currency overhaul.

This latest release follows that of a $100 bill several months ago. It also uses the polymer substrate. The $50 note will be the first plastic currency to be dispensed by Canadian ATM machines.

One of the key elements of the new polymer bill is the composition of the material, which contains hard-to-counterfeit elements such as transparent bits and holograms. Bank of Canada governor Mark Carney called it state-of-the-art technology that will give Canadians confidence in the integrity of their currency. Carney said the new currency series would allow Canada to remain ahead of counterfeiters.

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