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  • Feb 15th, 2019 11:28 am
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Deal Addict
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Jun 24, 2015
2004 posts
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Woodbridge, ON
I LOVE the new $10 dollar bills. Sideways money is the money of the future.
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Apr 10, 2018
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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?
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Jan 9, 2011
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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.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

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May 30, 2005
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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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Aug 25, 2015
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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".
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Jan 28, 2007
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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
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Jan 9, 2011
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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.
18% = GTA residents as a proportion of Canada's total population
97% = chance that an RFDer lives in the GTA when he posts something location specific, without giving a location

Were you hit with surprise customs/import fees on an Amazon.ca purchase?
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Jan 28, 2007
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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.
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Jun 1, 2006
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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.
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Nov 24, 2013
5253 posts
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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
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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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