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Canada's new plastic money

Discussion in 'Anything goes' started by HC, Jun 21, 2011.

  1. HC

    HC Well-Known Member

    As a former bank employee I approve this: http://www.theglobeandmail.com/news/politics/canadas-new-plastic-banknotes-will-be-nearly-impossible-to-fake/article2068559/
     
  2. Sam Mills 51

    Sam Mills 51 Active Member

    But how will this look buried under center ice?

    :D ;D
     
  3. Buck

    Buck Well-Known Member

    That's interesting.
    Have you seen anything about the cost?
     
  4. HC

    HC Well-Known Member

    Don't know about cost but the link to Quick Facts lists a number of benefits for the new style currency. Apparently, 30 other countries are ahead of Canada in adopting polymer-based bills.
     
  5. Buck

    Buck Well-Known Member

    I can imagine there are a lot of benefits.
    I'm curious what the per unit production cost is vs. tradition cloth-paper money. You'd have to add that with an estimated transition, then balance it against the savings you'd realize through fewer counterfeiting losses and potentially less policing/prosectuion costs associated with counterfeiting.
    Very interesting stuff.
     
  6. slappy4428

    slappy4428 Active Member

    You also get to print fewer bills, because in theory they won't wear out so there's less replacement... If a paper bill lasts 18 months, this may last 54.
     
  7. Buck

    Buck Well-Known Member

    Good point.
    There are a lot of possible advantages.
    There are always significants costs for a transition, but I'd imagine the savings and benefits would pay off quickly.
    Heck, the U.S. just wasted money on a currency transition. We could have waited another five years and gone this route.
     
  8. Rumpleforeskin

    Rumpleforeskin Active Member

    We call them credit cards in the United States. Just kidding.
     
  9. Huggy

    Huggy Well-Known Member

    Reminds me of that Barney Miller episode where they bring in a guy who robbed a Canadian tourist and ended up getting nothing more than her Canadian money: "It sure looks nice but have you ever tried to spend it? $20 for a coffee and danish!"
     
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