Bank Of Canada Switching to Polymer Money

Wednesday, 22 Jun 2011 12:56 PM

By Katie Lotman

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In an effort to minimize spending on counterfeiting detection, the Bank of Canada will no longer produce paper money and will instead begin production of polymer bills, made of synthetic plastic material, reports CNN.

Bills will go into circulation starting in November with the release of the first $100 polymer bills and by 2013, all bills as small as $5 will be circulating.

The new bills cost almost twice as much to produce but are expected to last 2.5 times as long.

According to CNN, other unique features of the bill include "raised ink in the numerals and the featured portrait, color-shifting images embedded in the large window, and a number hidden in the maple-leaf window."

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