Upcoming changes to legal tender status older notes (Canada)

[fansubs_ca]

A friend sent me these links:

https://globalnews.ca/news/4052577/old- ... dget-2018/

https://www.bankofcanada.ca/banknotes/u ... ank-notes/

The wording on the Bank of Canada web site indicates the notes would remain redeemable
so we wouldn't loose our "put option" on these collectables (though it's worth keeping an
eye on incase they decide to change that) but still an item of interest as I remember at
least one other member mentioning they had a few Canadian $1000 bills.

Myself I only have $1 and $2 bills, no $1000s. Most of the $1 bills I have are because
I'm old enough they still circulated when I had a paper route. ^_- I actually got 2 more
ones and a two as part of the payment for fansubs once from someone in Texas in the
late 90s, their local bank must have had those in the vault for a long time when they
went in to get some Canadian money. ^_^

[Recyclersteve]

I feel sorry for someone who lives in a remote area (maybe a farmer perhaps) and has a bunch of $1,000 bills, but would like to remain private about it.

[highroller4321]

Thanks for the link!

At least they aren't making them obsolete.

[hobo finds]

"Having the power to remove legal tender status from bank notes means that we can do a better job of keeping the notes in circulation current. Newer bank notes have better security features that make them difficult to counterfeit, and they are in better condition overall. Keeping notes current means they work more efficiently for all of us.

Officially taking the $1, $2, $25, $500 and $1,000 notes out of circulation will help achieve that goal. This decision will have little impact on most of us.

That’s because these bank notes have not been produced in decades. In fact, you almost never see them. Some people do not recognize them, which means they likely would not be accepted in transactions.
•The $1 and the $2 notes stopped being issued in 1989 and 1996, respectively, and were replaced with coins.
•The $25 note was a commemorative note. Both it and the $500 note were discontinued shortly after they were issued in 1935.
•The $1,000 note stopped being issued in 2000.

By removing these old notes from circulation, we can ensure that our bank notes stay current, of high quality and secure. It also guarantees they are always easy to use."

So most of these should go up in value as collector notes depending on there condition I would think, but if they are in bad shape the bank would still take them!