Canada column for Sunday, June 26/11
THE CANADIAN REPORT
(c) By Jim Fox
Canada’s colorful folding currency is going polymer.
The switch to “plastic-like” dollar bills starts with $100 notes in November, 50s by next March and 20s, 10s and 5s by the end of 2013. (Canada replaced its $1 and $2 bills with coins earlier.)
The new notes probably won’t light cigars as easily as the paper ones, are more durable and laundry-friendly, and paying with plastic will take on a whole new meaning.
The Bank of Canada expects the new smooth-feeling bills will last 2 1/2 times longer than the current paper and cotton notes.
It should also thwart counterfeiters, Bank of Canada Governor Mark Carney said, adding “there’s simply no other currency” like these synthetic bills.