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dollar bills and sequence number

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  • Jan 3rd, 2008 6:40 pm
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Jan 3, 2006
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dollar bills and sequence number

I made a withdrawal of $540 and all 27 $20 bills had their serial numbers in sequence.

Is Bank of Canada printing money like crazy? :confused:
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Feb 13, 2004
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rosebud wrote:
Jan 2nd, 2008 9:05 am
I made a withdrawal of $540 and all 27 $20 bills had their serial numbers in sequence.

Is Bank of Canada printing money like crazy? :confused:
Money is cut in a sheet and then shuffled in the same order as cut. If they are loading the cash with new currency (which is often the case with bank machines), then your apt to get some sequential every now and then.

Also, cash has a very limited lifespan. Bank of Canada very regularly takes old money (rips, tears, or simply in circulation past it's expected lifespan), shreds it and replaced it with fresh crisp bills.
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Mar 21, 2007
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Markham
rosebud wrote:
Jan 2nd, 2008 9:05 am
Is Bank of Canada printing money like crazy? :confused:
Yes they are! $20 bills only last about five years in circulation, so think about how many they have to print every year just to replace 20% of all the ones that are out there!
Its even worse with 10's and 5's, but you don't get them from a machine, so you don't notice the sequential numbering as much.
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Dec 28, 2006
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Saskatoon
notanexpert wrote:
Jan 2nd, 2008 11:01 am
Yes they are! $20 bills only last about five years in circulation,
According to the BoC the average lifespan of a $20 is 2-4 years. Which means printing 25-50% of the notes in circulation just to replace the ones that are withdrawn from circulation.

http://www.bankofcanada.ca/en/banknotes/facts.html

I haven't found anything on the site with respect to the actual number of notes in circulation.
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Mar 1, 2006
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Oh wow,that's a lot of paper.
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JayTee1 wrote:
Jan 2nd, 2008 2:05 pm
Oh wow,that's a lot of paper.
Which makes the 5$ coin make sense to a degree. Maybe they could laminate all the money lol
:mad: :lol:
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blizzah wrote:
Jan 2nd, 2008 10:32 pm
Maybe they could laminate all the money lol
Laminate is permanent - not biodegradable - and you are suggesting this in the environmental crises we're in?
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Jan 5, 2006
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Or we can consider using polymer banknotes, like in Australia.
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Apr 5, 2007
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Canada
SamInfinity wrote:
Jan 3rd, 2008 1:11 am
Or we can consider using polymer banknotes, like in Australia.
It costs more to have polymer notes made.. besides, they stick together when wet.. think about Canadian weather... :D
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dmdsoftware2 wrote:
Jan 3rd, 2008 12:00 am
Laminate is permanent - not biodegradable - and you are suggesting this in the environmental crises we're in?
I didn't know that, just offering a suggestion.
:mad: :lol:
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dmdsoftware2 wrote:
Jan 3rd, 2008 12:00 am
Laminate is permanent - not biodegradable - and you are suggesting this in the environmental crises we're in?
a) It doesn't have to be bidegradeable because it lasts longer, which is the point

b) Paper doesn't biodegrade well at all in a modern sealed landfill anyway

c) Australia has had plastic bills for a long time, it lasts much longer and is even washable. The bills are still very flexible and totally usable. I imagine they save a ton on printing costs compared to us.

I would rather see the BOC switch to plastic bills than add yet another coin to my already crowded pocket.
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Saskatoon
brunes wrote:
Jan 3rd, 2008 10:48 am
a) It doesn't have to be bidegradeable because it lasts longer, which is the point

b) Paper doesn't biodegrade well at all in a modern sealed landfill anyway
Paper notes (made from cotton paper) are burned not landfilled.
brunes wrote:
Jan 3rd, 2008 10:48 am
c) Australia has had plastic bills for a long time, it lasts much longer and is even washable. The bills are still very flexible and totally usable. I imagine they save a ton on printing costs compared to us.
Not necessarily, Does the increased lifespan outweigh the increased cost of production?

And is it better environmentaly to use cotton paper that comes from a renewable source or to use polymer notes that come from oil?

Cotton paper could be recycled, but isn't, and polymer notes are shredded and recycled into other stuff.

It would be interesting to know if the polymer notes are cost effective.

The (possibly) complicating factor is that the polymer notes from NPA http://www.noteprinting.com/about_NPA.html may be a proprietary process that they may not be willing to share. This would mean outsourcing the printing of Canadian notes to a foreign company. This would likely be a political hot potato no matter which party was in government.
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I like the Aussie bills too, but the downside with the higher cost is, what if due to rampant counterfeiting you have to redesign the bill and reprint (such as with our $5 and $10 bills over the past 5 years).
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ghostryder wrote:
Jan 3rd, 2008 12:37 pm
Paper notes (made from cotton paper) are burned not landfilled.
False.

The Bank of Canada must be prepared to supply financial institutions with enough bank notes to satisfy public demand. Financial institutions get bank notes through the country's Bank Note Distribution System and return notes that are considered unfit for further circulation to the Bank of Canada. These notes are verified on high-speed, note-processing equipment and then shredded. The resulting shred is disposed of in landfill sites.

http://www.bank-banque-canada.ca/en/about/currency.html
Not necessarily, Does the increased lifespan outweigh the increased cost of production?
Though I don't have the numbers handy I assume it likely is considering how many notes are currently produced
And is it better environmentaly to use cotton paper that comes from a renewable source or to use polymer notes that come from oil?
Yes, for the same reason it is more sentimentality sound to use styrofoam cups than paper ones. Even when paper is recycled it requires much more energy to produce and refine than polymers. The majority of that energy comes from burning non-renewable fossil fuels. There are numerous sources you can find to verify this.
The (possibly) complicating factor is that the polymer notes from NPA http://www.noteprinting.com/about_NPA.html may be a proprietary process that they may not be willing to share. This would mean outsourcing the printing of Canadian notes to a foreign company. This would likely be a political hot potato no matter which party was in government.
I am pretty sure us Canadians are smart enough to figure out how to make plastic money... it isn't rocket science. The Royal Canadian Mint itself is at the forefront of several areas of minting, this would be nothing special, they could do it.
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