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  • May 26th, 2019 9:25 pm
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Penalty Box
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Jun 24, 2015
2585 posts
563 upvotes
Woodbridge, ON
I LOVE the new $10 dollar bills. Sideways money is the money of the future.
Hi
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Apr 10, 2018
53 posts
4 upvotes
Kiraly wrote:
Feb 12th, 2019 11:54 am
Starting in 2004 the mint stopped distributing 50¢ coins through the normal currency channels. You can't just ask your bank to order them for you anymore for face value. Now they're available only directly from the mint to collectors, in rolls, for double face value plus sales tax.

The 50¢ coin was never very popular. About 2 million of them were made every year from 1940 to 1985, except for the 1960s when there was a bump with with between 3.5 million and 12 million made per year. Since 1986 it has averaged about 400,000.

Places like the UK, eurozone, Australia, NZ, etc that have a widely circulating 50¢ coin all have a 20¢ coin instead of a 25¢ coin. That seems to make a 50¢ coin much more useful, and therefore popular.

That said, I don't think the $10 is going away any time soon. I expect the $5 to be replaced with a coin before that happens.
I think the main reason why the Bank of Canada continues printing $10 bills despite demand having dropped drastically in recent years, is because of production cost. If the $10 bill was to be dropped from circulation, it would mean a lot more money to produce an increased number of $5 bills that they could easily offset such high cost by printing $10 bills.

I think $10 bills are not given out in change much these days because stores have policies that they can only keep limited cash in the tills - it used to be $100, but now most places keep only $50 in their tills - consisting of a few $5 bills and most coin denominations up to and including $1. Any $10 bill or greater cashiers receive as payment, do not get touched until they have to go to the bank, and $50 and $100 bills are blacklisted for payment by most retailers, despite the Bank of Canada's attempts to make them more secure.

I think $50 and $100 bills are rejected as payment, and it may not be due to counterfeiting issues or the like. It's likely due to an increase in armed robberies, and stores refuse such denominations in order to combat armed robberies.

It makes me wonder if the existence of $100 bills tend to drive the crime rate up, and maybe the alarmingly high number of $100 bills in circulation these days may be linked to organized crime?
[OP]
Deal Fanatic
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Jan 9, 2011
5602 posts
5575 upvotes
Vancouver
JonS51963 wrote:
Feb 12th, 2019 1:07 pm
It makes me wonder if the existence of $100 bills tend to drive the crime rate up, and maybe the alarmingly high number of $100 bills in circulation these days may be linked to organized crime?
It is estimated that 75% of US $100 bills are immediately exported out of the US and held in reserves by foreign businesses and governments. It's possible that many of our $100 bills are doing the same thing but there's no way to keep track of this.
Deal Expert
May 30, 2005
42409 posts
3089 upvotes
Richmond Hill
Kiraly wrote:
Feb 12th, 2019 1:13 pm
It is estimated that 75% of US $100 bills are immediately exported out of the US and held in reserves by foreign businesses and governments. It's possible that many of our $100 bills are doing the same thing but there's no way to keep track of this.
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Jr. Member
Aug 25, 2015
171 posts
265 upvotes
Victoria, BC
JonS51963 wrote:
Feb 12th, 2019 1:07 pm
Any $10 bill or greater cashiers receive as payment, do not get touched until they have to go to the bank, and $50 and $100 bills are blacklisted for payment by most retailers, despite the Bank of Canada's attempts to make them more secure.

I think $50 and $100 bills are rejected as payment, and it may not be due to counterfeiting issues or the like. It's likely due to an increase in armed robberies, and stores refuse such denominations in order to combat armed robberies.
From my experience rejecting high denomination bills may be done sporadically but is not something that happens at "most retailers".
Deal Addict
Jan 28, 2007
2123 posts
1441 upvotes
SW Ontario
JonS51963 wrote:
Feb 12th, 2019 1:07 pm
I think the main reason why the Bank of Canada continues printing $10 bills despite demand having dropped drastically in recent years, is because of production cost. If the $10 bill was to be dropped from circulation, it would mean a lot more money to produce an increased number of $5 bills that they could easily offset such high cost by printing $10 bills.

I think $10 bills are not given out in change much these days because stores have policies that they can only keep limited cash in the tills - it used to be $100, but now most places keep only $50 in their tills - consisting of a few $5 bills and most coin denominations up to and including $1. Any $10 bill or greater cashiers receive as payment, do not get touched until they have to go to the bank, and $50 and $100 bills are blacklisted for payment by most retailers, despite the Bank of Canada's attempts to make them more secure.

I think $50 and $100 bills are rejected as payment, and it may not be due to counterfeiting issues or the like. It's likely due to an increase in armed robberies, and stores refuse such denominations in order to combat armed robberies.

It makes me wonder if the existence of $100 bills tend to drive the crime rate up, and maybe the alarmingly high number of $100 bills in circulation these days may be linked to organized crime?
I've never had issues using $50 or $100 for making payment unless it was a corner mart where the sticker on the door tells me there is less than $50 kept in the till at any time ... but then again I don't look like a criminal :P
I'd rather be outdoors camping, kayaking, and mountain biking ...
[OP]
Deal Fanatic
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Jan 9, 2011
5602 posts
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Vancouver
Jojo_Madman wrote:
Feb 13th, 2019 9:37 am
I've never had issues using $50 or $100 for making payment unless it was a corner mart where the sticker on the door tells me there is less than $50 kept in the till at any time ... but then again I don't look like a criminal :P
Agree and even this is becoming more and more rare. In fact I can't remember the last time I saw a "No $50 or $100 bills" sign in any merchant. There seems to be a significant segment of the population in Vancouver that likes to deal in cash, so businesses seem to be more accepting of it.
Deal Addict
Jan 28, 2007
2123 posts
1441 upvotes
SW Ontario
Kiraly wrote:
Feb 13th, 2019 2:48 pm
Agree and even this is becoming more and more rare. In fact I can't remember the last time I saw a "No $50 or $100 bills" sign in any merchant. There seems to be a significant segment of the population in Vancouver that likes to deal in cash, so businesses seem to be more accepting of it.
LOL ... and we all know why that is ... Face With Tears Of Joy
I'd rather be outdoors camping, kayaking, and mountain biking ...
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Jun 1, 2006
11589 posts
14788 upvotes
I think $50 and $100 bills are rejected as payment, and it may not be due to counterfeiting issues or the like.
In the past, counterfeit money, especially $50 and $100, were a big problem. Especially with the paper money.

So retailers refuse to take the large denominations since the loss on a $100 or $50 is much greater than a counterfeit $5 or $10. In the old days I often see a no $50 or $100 sign at the till. I rarely see that now.
Have a nice day!


Deal Fanatic
Nov 24, 2013
5638 posts
2243 upvotes
Kingston, ON
LonesomeDove wrote:
Feb 13th, 2019 5:22 pm
In the past, counterfeit money, especially $50 and $100, were a big problem. Especially with the paper money.

So retailers refuse to take the large denominations since the loss on a $100 or $50 is much greater than a counterfeit $5 or $10. In the old days I often see a no $50 or $100 sign at the till. I rarely see that now.
Agreed. I've seen it in the past, maybe the odd "No $100s" still out there, but with inflation, and with updated ATMs, there's a lot more larger bills in circulation. Feels like $50s in particular are a lot more common than they used to be.

You used to get change from a $10 buying lunch somewhere. Now you tend to pay with a $20 and get $5 and coins back. The old days aren't coming back.
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Apr 10, 2018
53 posts
4 upvotes
Mike15 wrote:
Feb 13th, 2019 5:53 pm
You used to get change from a $10 buying lunch somewhere. Now you tend to pay with a $20 and get $5 and coins back. The old days aren't coming back.
Where I live, I bought a Big Mac combo last week, and the total, including tax, was $9.88. I could still pay for it with a $10 bill now, but it is just one price hike away from requiring a $20 bill. If that happens, demand for the $10 bills in my region will be toast, and banks (at least, in Newfoundland) are likely going to discontinue ordering $10 bills as a result.

I bet fast food is what is keeping the $10 bill alive in my province, but it won't be for long.
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Apr 10, 2018
53 posts
4 upvotes
Kiraly wrote:
Feb 12th, 2019 11:54 am
The 50¢ coin was never very popular. About 2 million of them were made every year from 1940 to 1985, except for the 1960s when there was a bump with with between 3.5 million and 12 million made per year. Since 1986 it has averaged about 400,000.
Now that you mentioned it, it may seem like the $10 bill was never very popular, with very few produced from 1935 to this day, though there may have been a short-term boom in the 1980s, only to drop by the early 1990s, and the number produced nowadays is drastically low.

The $2 denomination could also have never been very popular, but not like the U.S. version. The $2 denomination had very few being produced annually between 1935 and today (though the bill ceased in 1996 in favor of a coin of the same value), though there was likely a boom in the early 1990s until sometime in the 2000s, after which demand fell back into decline. I think the reason for the $2 coin's decline is more so due to purchasing power of a $2 coin becoming that of the $5 bill.

I sense a pattern:

$1 (popular)
$2 (unpopular)
$5 (popular)
$10 (unpopular)
$20 (popular)
$50 (unpopular, but a boom is likely underway now)
$100 (popular)

It seems as if, starting from the $1 denomination, every second denomination in circulation is not popular. If the Bank of Canada looks back at archived material about why the 50¢ coin fell out of favor, maybe they will drop the $10 bill from circulation down the road. But I'd say, before that even happens, all the banks in my province (Newfoundland) will likely not order $10 bills anymore.
Sr. Member
Feb 17, 2005
748 posts
154 upvotes
I think the design is really unique, throws me off that it's sideways. but i really like the fact that it's celebrating Viola Desmond instead of some former Prime Minister. I think it's something the people of Canada should be proud of.
Deal Addict
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Dec 16, 2015
1591 posts
1066 upvotes
Canada
At this rate, i can introduce my own bills and just tell unsuspecting buyer its a new boc billsFace With Tears Of Joy

This happened to me actually, ive been cashless for few years now and dont even recognize any of these new bills

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