Withdrawn Canadian banknotes


Withdrawn Canadian banknotes

Among Canadian currency, only five different banknotes are currently printed. Smaller denominations have been replaced by coins, and larger ones are felt to be no longer required in an era of electronic transmission of most large transactions. These defunct denominations are said to be withdrawn from circulation.

Currency withdrawn from circulation is still legal tender, though is usually disposed of by the Bank of Canada when it returns to their hands. As of January 2007, the 1991 $20 and 1988 $50 still commonly circulate, but other pre-2002 notes have largely disappeared from circulation.

Withdrawn currency is usually exchanged at commercial bank branches, though some banks require that exchangers be bank customers, and then the bank presents the withdrawn currency to the Bank of Canada together with worn-out currency in the normal course of business.

Other denominations have been printed by the Bank of Canada since it was given sole authority over paper currency in 1935; listed below are the denominations they no longer produce.

Twenty-five-cent bill

In 1870, in an effort to combat an influx of lesser-valued American currency the Dominion of Canada issued a 25 cent bill (commonly known as a "shinplaster"). This was intended as a temporary measure, however these bills were reissued in 1900 and 1923. They were recalled by the then newly-formed Bank of Canada in 1935.

Four-dollar bill

In 1871, the Dominion of Canada began issuing $4 bills. The last was issued in 1902 and withdrawal began in 1912 when they were replaced with $5 bills.

Twenty-five-dollar bill

In 1935, the Bank of Canada commemorated the silver jubilee of King George V with a special $25 note. As with other bills of the period, a version in each language was printed. This was a limited release that was never printed in large quantities.

The bill was coloured an appropriate royal purple; both the King and his consort Queen Mary were featured, with Windsor Castle appearing on the back.

Five-hundred-dollar bill

In its first banknote issue in 1935, the Bank of Canada printed a $500 bill. As with the $1000 bill, the $500 bill had two versions: one in English, one in French. No bill of this denomination has been printed since.

The bill was coloured sepia, or burnt sienna; the front featured Sir John A. Macdonald, and the back depicted a fertility allegory.

One-dollar bill

The $1 bill ceased printing in 1989 after the release of the loonie (in 1987) had been successful. These bills are virtually never seen in circulation today. At present, they are generally used by American tourists who have saved their unused Canadian currency from a previous visit before 1989.Fact|date=August 2008

The most recent banknote series that included the $1 note was the 1969-1979 Series, "Scenes of Canada", with the $1 note released in 1974, coloured green and black. The front featured a portrait of the Queen; the back featured an image of Parliament Hill from across the Ottawa River, with logging activities taking place on the water.

Two-dollar bill

The $2 bill ceased printing on Feb. 18, 1996 with the release of the toonie, a coin that replaced it. These bills are virtually never seen in general circulation today, although there are many still being collected or stashed away somewhere, since there are 109,271,483 notes that have not been returned to the Bank of Canada (as of 2006), which is more than there are $10 notes in circulation. [ [http://www.cbc.ca/news/interactives/map-cdnbillscirculation/ CBC News Interactive: Canadian bills in circulation ] ]

The most recent banknote series that included the $2 note was released in 1986 (the "Birds of Canada" series), in which the two was a terra cotta colour. The front featured a portrait of the Queen; the back featured a meadow scene with two robins. Unlike the U.S. $2 note, the $2 bill from the "Birds of Canada" series (1986) was widely circulated, especially after the $1 note was withdrawn. The bill is also noted for being frequently used as the sole visible currency in the TV show "The Kids in the Hall", generally to humorous effect.

Thousand-dollar bill

The printing of $1,000 bills ceased in 2000. The denomination was withdrawn on the advice of the Solicitor General and the Royal Canadian Mounted Police (RCMP), as it was often used for money laundering. The bills were nicknamed "pinkies" due to their colour and association with organized crime. [cite news | title= Bank of Canada kills $1000 bill | url=http://www.cbc.ca/money/story/2000/05/08/1000bill000508.html | publisher=CBC News | date=2000-09-26 | accessdate=2007-06-10] One person could easily carry $1,000,000 in $1,000 bills. The Bank of Canada has requested that financial institutions return $1,000 bills for destruction. [cite news | title= Bank of Canada to Stop Issuing $1000 Note | url=http://www.bankofcanada.ca/en/press/2000/pr00-8.html | publisher=Bank of Canada | date=2000-05-08 | accessdate=2007-07-27] However, this request is not a legal requirement, and some banks will recirculate $1,000 bills if their customers ask.

The final version of the bill was released in 1992, and was reddish-purple in colour. The front featured a portrait of the Queen; the back featured a winter scene with two Pine Grosbeaks. As demand was low, the $1000 note was not produced in the 1969-79 series; the 1954 series continued to be issued instead.

References

External links

* [http://www.bankofcanada.ca/en/banknotes/general/character/ Bank of Canada: Bank Note Series, 1935 to Present]


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