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Canadian banknotes are the banknotes of Canada, denominated in Canadian dollars (CAD). In common everyday usage, they are called bills. Currently, they are issued in five, ten, twenty, fifty, and hundred dollar denominations. more...

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All notes are issued by the Bank of Canada, which released its first series of notes in 1935.

Production

Bills are issued by the Bank of Canada, but the actual production of the bills is outsourced to the Canadian Bank Note Company and BA International Inc (formerly the British American Banknote Company Ltd), in accordance with the specifications and requirements of the Bank of Canada. All wording on bills appears in both of Canada's official languages, English and French. Bank Notes are printed on paper composed of pure cotton.

Counterfeiting

An internal report by the Bank of Canada states that the current level of counterfeit money in Canada is now higher than its key monitoring benchmark and is higher than benchmarks used in other countries. The report said "All denominations except the $5 continued to be above our historical threshold of 120 counterfeits detected per million genuine notes in circulation," hitting a high of 470 phoney bills for every million legitimate notes circulating in 2004.

Removal of $1, $2, and $1,000 notes

Some of the most significant recent developments in Canadian currency were the withdrawal of the $1, $2, and $1,000 notes in 1989, 1996, and 2000 respectively. The $1 and $2 denominations have been replaced with coins. See loonie and toonie.

List of bank note series

1935 Series

The Bank of Canada was created in 1934 and given responsibility, through an Act of Parliament, to regulate the country's money supply and to "promote the economic and financial welfare of Canada." Accordingly, it was given the exclusive right to issue bank notes in Canada. On 11 March 1935, the Bank of Canada issued its first series of bank notes.

1937 Series

The creation of a second series of bank notes, only two years after the first issue, was prompted by changes in Canadian government legislation requiring the Bank of Canada to produce bilingual bank notes. Another contributing factor was the death of King George V on 20 January 1936 and the subsequent abdication of Edward VIII.

1954 Series

The third series of Bank of Canada bank notes was prepared in 1952. Significant changes to the design of Canada's paper currency gave it a whole new look that set the standard for the future.