Banknote Production
New Canadian Bills Cost Banks $100M
Canada’s new series of polymer banknotes will cost banks and financial institutions nearly $100 million according to the Bank of Canada. That price tag reflects the modifications that will need to be made to sorting and counting machines that are used across the country to handle money, says Julie Girard, spokeswoman for the Bank of [...]
“Still A Need For Cold, Hard Cash” – PRI Talks To Money Makers
Though commerce has recently taken a turn towards electronic formats with Internet purchases, debit cards and e-mail money transfers, leaders in banknote manufacturing say their industry is experiencing unprecedented growth. This week, Jason Margolis, host of The World on Public Radio International (PRI), caught up with some of these manufacturers who echo the sentiment, saying [...]
UAE Introduces New Dh500 Banknote Into Circulation
The United Arab Emirates (UAE) will introduce a new Dh500 banknote into circulation this week equipped with new security features. Officials from the UAE Central Bank say that the new banknote was necessary not only to stay on top of counterfeit efforts in the region but also to meet the demand of a growing population. [...]
Examining The Benefits Of Polymer Banknotes
This week, Canada was introduced a new $100 polymer banknote marking the first time polymer has been used for a banknote series in the country. The switch from a cotton-paper blend to the plastic substrate hybrid is a change many countries have made since 1988 because these types of banknotes contain many advantages. A big [...]
Businesses Critique New Canadian Polymer Bills
Canada’s first polymer banknote officially enters into circulation today, and though they are more durable and secure, small businesses are criticizing the new notes. The problem with the new $100 banknotes lies in its design, according to Ted Brosnan, president of John Poulet Cheque Writer Service. The see-through security features could lead to problems with [...]
Local Leaders Call For Cornish Currency
In the face of an economic downturn in the UK, local leaders in Cornwall say the county should develop it’s own currency to protect its economy. Ian Jones, chief executive of Volunteer Cornwall, says the move may be consider a “radical idea,” but argues the move away from the British pound could be beneficial for [...]
Bank Of England Gives Public Tips On Authenticating New Banknotes
The new £50 banknote was released into circulation this week in the UK, but the Bank of England said consumers should be aware of all the new security features on the note in order to avoid any fakes. Some simple measures for verifying the authenticity of the new notes include: – checking for the unique [...]
Behind The Scenes of the New Canadian Banknote – Part 2
With just a few weeks to go before the first banknotes from Canada’s new series enters into circulation, here’s another article detailing a behind the scenes look at the development of the new polymer notes. While a major goal of developing a new banknote series is to enhance security features, the design of the series [...]
Behind The Scenes of the New Canadian Banknote
With just a few weeks to go before the first banknotes from Canada’s new series enters into circulation, here’s a behind the scenes look at the development of the new polymer notes. The development of Canada’s new polymer banknote series began nearly five years ago at the Bank of Canada. An advanced team of engine [...]
UK To Introduce New £50 Note Next Month
Two years after unveiling its design, The Bank of England will introduce a new £50 banknote into circulation on November 2. The new note will feature the portraits of entrepreneur Matthew Boulton and engineer James Watts – a duo that pioneered the use of steam engines in textile manufacturing during the 18th century. This marks [...]
