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Bank of Canada issues $50 polymer bank note


March 27, 2012
By Bank of Canada

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March 27, 2012, Canada – The
new $50 polymer bank note has been entered into circulation, announced
Bank of Canada Governor Mark Carney during an event at
the Canadian Coast Guard’s Québec port facility. These new notes are now
available at financial institutions from coast to coast to coast.

March 27, 2012, Canada – The
new $50 polymer bank note has been entered into circulation, announced Bank of Canada Governor Mark Carney during an event at
the Canadian Coast Guard’s Québec port facility. These new notes are now available at financial institutions from coast to coast to coast.

Governor Carney was joined at the event by Shelly Glover, parliamentary secretary to the Minister of Finance; Marc Grégoire, commissioner of the Canadian Coast Guard; and Louis Fortier, scientific director of ArcticNet.

The front of the new $50 note features a portrait of Sir William Lyon
Mackenzie King, while the back depicts the Arctic research icebreaker
CCGS Amundsen, in port during the ceremony, as well as other
imagery that reflects Canada’s commitment to Arctic research and the
development and protection of northern communities. Most importantly,
the new $50 bill, like the rest of the polymer series, features a unique
combination of state-of-the-art security features, making them the most
secure bank notes ever issued in Canada.

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“Just as the work of scientists on the Amundsen is expanding
the frontiers of Arctic research, this new polymer series is expanding
the frontiers of bank note technology,” said Governor Carney.

The Governor encouraged Canadians to familiarize themselves with
these new features, the most prominent of which are two transparent
areas: one that extends from the top to the bottom of the note and
contains complex holographic features, and the other in the shape of a
maple leaf.

“Counterfeiting rates have been reduced by 90 per cent since 2004.
Issuing this new series of bank notes enables us to continue to stay
ahead of counterfeiters,” Carney said. “And by regularly
checking the leading-edge security features on these new notes,
Canadians can help protect themselves from counterfeiting threats,” he
added.

Parliamentary Secretary Glover noted that much has been done in
recent years to combat counterfeiting and maintain public confidence in
Canada’s bank notes, which helps to avoid the detrimental impact that
counterfeiting can have on the integrity of an economy.

“These new polymer notes represent an important part of this effort
and a significant barrier to counterfeiting. The striking imagery of
this new $50 bill reflects Canada's commitment to the North,” said
Glover.

Grégoire expanded on the note’s theme, saying, “Canada’s
northern frontier has played an important role in the shaping of our
national identity. And it is a true honour to have the CCGS Amundsen, Canada’s
Arctic research platform, illustrated on the note in this, the 50th
anniversary of the Canadian Coast Guard.” He also spoke of how the
Canadian Coast Guard’s partnership with ArcticNet provides the global
scientific community with unprecedented access to research opportunities
in the North.

With the $50 denomination being more frequently used in automated
banking machines, Canadians were also reminded that each time a new
series of bank notes is issued the equipment that processes and
dispenses them may require adjustments or upgrades. The Bank of Canada
has worked closely with financial institutions and manufacturers of bank
note processing equipment to help them make this transition to polymer.

The $20 note will be issued later this year, with the remaining bank
notes in the series – the $5 and $10 notes – to be issued by the end of
2013. The designs and detailed images of these notes will not be
released until their official unveiling dates.

The themes of all of the denominations are:

$100 Medical Innovation – celebrates Canadian innovations in the field of medicine (Portrait: Sir Robert Borden)

$50 CCGS Amundsen, Research Icebreaker –
reflects Canada’s commitment to Arctic research and the development and
protection of northern communities (Portrait: Sir William Lyon Mackenzie
King)

$20 The Canadian National Vimy Memorial – evokes
the contributions and sacrifices of Canadians in conflicts throughout
our history (Portrait: HM Queen Elizabeth II)

$10 The Canadian train – represents
Canada’s great technical feat of linking its eastern and western
frontiers by what was, at the time, the longest railway ever built
(Portrait: Sir John A. Macdonald)

$5 Canadarm2 and Dextre
symbolize Canada’s continuing contribution to the international space
program through robotics innovation (Portrait: Sir Wilfrid Laurier)

More information on the new polymer bank note series can be obtained by contacting Jeremy Harrison at 613-782-8782 or communications@bankofcanada.ca.


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