Bank of Canada Governor Mark Carney officially announced the new $50 polymer bank note’s entry into circulation. 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, 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.
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,” Governor 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.
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 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)