Canadian Vending

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Update on new bills, coins rolling out soon


September 20, 2011
By Administrator

5852863452_2ec05a93a9_mSeptember 20, 2011, Montreal – Machine owners and operators attending CAMA Expo over the weekend had the chance to check out the new security features coming to Canadian currency.

September 20, 2011, Simcoe, ON – Machine owners and operators attending
CAMA Expo over the weekend had the chance to check out the new security
features coming to Canadian currency.

Representatives from the Bank of Canada and the Royal Canadian Mint were on hand at CAMA Expo to offer bilingual presentations about the new coins and bills, and answer questions about how the changes will affect the vending industry.

Lighter Loonies and Toonies

At noon on Friday, Lenard Cheung, Paul Lefebvre, Alexandre Reeves and Todd Reinberger from the Royal Canadian Mint showed off the new Loonies and Toonies, slated for distribution in the first quarter of 2012.

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The new coins will be made using a multi-ply plated steel (MPPS) technique patented by the Mint. The technique works by alternating thin layers of different metals electroplated to steel to create a uniform lattice structure. This consistency provides a reliable electromagnetic signature from one coin to the next.

Using the MPPS technique will make the new Loonies and Toonies slightly lighter than the coins currently in circulation, so machine sensors will have to be updated to accept the new coins.

Additional security features on the Loonie will include a laser mark that creates a contrasting background with a patterned image.

The new two-dollar coin will also feature a laser mark, as well as a virtual image when the coin is tilted from one side to the other, and text engraving along the side edge of the coin.

The public launch of the new coins is scheduled for Jan. 2012. By Jan. 2013, the Mint plans to have 25 million of each of the new coins in circulation. This will represent one-quarter of the total number of Loonies in circulation at that time, and one-third of all Toonies. 

Throughout the new coin roll out, the total volume of coinage in circulation is expected to stay approximately the same.

Additional information on the roll out will be available in Nov.

More durable bills

Later on Friday afternoon, the Bank of Canada’s Patrizia Mion and Michel Lebeau introduced show-goers to the new $100 bill and walked them through the “feel, look and flip” security check designed to cut down on counterfeit bills.

Participants got to feel the new bill’s raised ink on the shoulders of the portrait, the denomination of the bill, and the words “Bank of Canada” and “Banque du Canada.”

 5852863452_2ec05a93a9_m 
 The Bank of Canada's new $100 bill launches in Nov. 

They also got to see the transparent window that features a metallic portrait and a metallic building that changes colour when the bill is tilted, and a frosted maple leaf window that, when held up to a strong light source, forms a little flower.

When flipped, the features in the large, transparent window appear in the same detail and colour on both sides.

Mion and Lebeau highlighted several advantages that the new bills will deliver to machine owners, including:  fewer jams, resulting in less machine downtime; notes that stay cleaner longer, which should be accepted more readily than older, beat up notes; and thinner notes, which will mean increased bill capacity per machine.

To be ready for the new notes, machines may require new sensor technology and new timing sensors to read the bills, and roller adjustments to avoid skewing.

The notes will begin rolling out in Nov. with the launch of the new $100 bill. The $50 bill will debut in March 2012, followed by the new $20 in late 2012. The new $5 and $10 bills will launch together by the end of 2013.
 
The Bank of Canada’s goal is to provide new bills to equipment manufacturers and suppliers at least six months ahead of each roll out.


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