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Frontier (banknotes)
The Frontier (French: Frontières) series is the seventh series of banknotes of the Canadian dollar released by the Bank of Canada, first circulated in 2011. The polymer banknotes were designed for increased durability and to incorporate more security features over the preceding 2001 Canadian Journey series. The notes feature images that focus on historic Canadian achievements and innovation. Printed on polymer, the 2011 Frontier series was the first series issued by the Bank of Canada printed on a material other than paper. The 2011 Frontier series is being followed by the Vertical series.
The banknotes were designed by the Canadian Bank Note Company, which also prints the banknotes. They were revealed in June 2011. To familiarize Canadians with the new banknotes, each banknote was introduced through national and regional unveiling events and advertising campaigns before being put into circulation. The $100 banknote was released into circulation on 14 November 2011, the $50 banknote on 26 March 2012, and the $20 banknote on 7 November 2012. The $5 banknote was unveiled by Chris Hadfield from the International Space Station during Expedition 35 and first circulated on 7 November 2013. The $10 banknote was first circulated the same day after a ceremony at Pacific Central Station in Vancouver.
At the time of its adoption of the technology, Canada was the largest of over 30 nations, and the first G8 country, to use polymer thin films for printing currency.
The primary impetus for the new banknotes was "the need to stay ahead of counterfeiters". By 2002, 10% of retailers in some parts of Canada refused to accept the $100 banknotes of the 1986 Birds of Canada series in financial transactions, and by 2004, the counterfeit ratio for Canadian currency had risen to 470 parts per million (ppm). As of 2011, over half of all retail transactions in Canada were made using cash.
Between 1995 and 1998, the Bank of Canada tested a substrate trademarked as "Luminus" consisting of a polymer core sheet layered between two paper sheets for use in printing banknotes. It printed 100,000 experimental $5 Birds of Canada banknotes. In June 1998, the Bank of Canada prepared to use Luminus as the substrate for the 2001 Canadian Journey series, but in December 1999, the manufacturer withdrew its supply bid because it could not produce the substrate at the scale required by the Bank of Canada for printing banknotes. The bank printed the 2001 Canadian Journey series on a cotton fibre substrate with similar surface characteristics to Luminus so that it could transition production to using the polymer substrate when scale production issues were resolved. The Bank of Canada also secured Canadian rights for Luminus and continued to develop the substrate for future use.
The use of polymer as a substrate was considered in part because access to the polymer substrate could be controlled, and replicating the chemical and physical recipe would be difficult. The practice of restricting access to the substrate used for manufacturing money existed as early as the 13th century, during which Chinese rulers stationed guards at mulberry forests, as mulberry bark was used to produce paper money.
Use of a polymer substrate in the upcoming banknotes was announced by Jim Flaherty in the 2010 Canadian federal budget speech on 4 March 2010, at which time he also announced that in the future the loonie ($1 coin) and toonie ($2 coin) would be made of steel instead of nickel to reduce manufacturing costs. Canada became the ninth country to print all its banknotes using a polymer substrate, following Australia, Bermuda, Brunei, New Zealand, Nicaragua, Papua New Guinea, Romania, and Vietnam.
The Bank of Canada began planning for the Frontier series in 2005. It used a team of chemists, physicists, and engineers it had assembled for the development of the 2001 Canadian Journey series to determine potential counterfeiting threats and assess substrate materials and potential security features for use in banknote designs. Once the technical evaluation of materials and security features was complete, the Bank of Canada created a formal set of guidelines specifying "the combination of security features and substrate" that it issued to bank note manufacturing and design companies. The resultant bid designs were evaluated for technical, security, and financial merit.
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Frontier (banknotes)
The Frontier (French: Frontières) series is the seventh series of banknotes of the Canadian dollar released by the Bank of Canada, first circulated in 2011. The polymer banknotes were designed for increased durability and to incorporate more security features over the preceding 2001 Canadian Journey series. The notes feature images that focus on historic Canadian achievements and innovation. Printed on polymer, the 2011 Frontier series was the first series issued by the Bank of Canada printed on a material other than paper. The 2011 Frontier series is being followed by the Vertical series.
The banknotes were designed by the Canadian Bank Note Company, which also prints the banknotes. They were revealed in June 2011. To familiarize Canadians with the new banknotes, each banknote was introduced through national and regional unveiling events and advertising campaigns before being put into circulation. The $100 banknote was released into circulation on 14 November 2011, the $50 banknote on 26 March 2012, and the $20 banknote on 7 November 2012. The $5 banknote was unveiled by Chris Hadfield from the International Space Station during Expedition 35 and first circulated on 7 November 2013. The $10 banknote was first circulated the same day after a ceremony at Pacific Central Station in Vancouver.
At the time of its adoption of the technology, Canada was the largest of over 30 nations, and the first G8 country, to use polymer thin films for printing currency.
The primary impetus for the new banknotes was "the need to stay ahead of counterfeiters". By 2002, 10% of retailers in some parts of Canada refused to accept the $100 banknotes of the 1986 Birds of Canada series in financial transactions, and by 2004, the counterfeit ratio for Canadian currency had risen to 470 parts per million (ppm). As of 2011, over half of all retail transactions in Canada were made using cash.
Between 1995 and 1998, the Bank of Canada tested a substrate trademarked as "Luminus" consisting of a polymer core sheet layered between two paper sheets for use in printing banknotes. It printed 100,000 experimental $5 Birds of Canada banknotes. In June 1998, the Bank of Canada prepared to use Luminus as the substrate for the 2001 Canadian Journey series, but in December 1999, the manufacturer withdrew its supply bid because it could not produce the substrate at the scale required by the Bank of Canada for printing banknotes. The bank printed the 2001 Canadian Journey series on a cotton fibre substrate with similar surface characteristics to Luminus so that it could transition production to using the polymer substrate when scale production issues were resolved. The Bank of Canada also secured Canadian rights for Luminus and continued to develop the substrate for future use.
The use of polymer as a substrate was considered in part because access to the polymer substrate could be controlled, and replicating the chemical and physical recipe would be difficult. The practice of restricting access to the substrate used for manufacturing money existed as early as the 13th century, during which Chinese rulers stationed guards at mulberry forests, as mulberry bark was used to produce paper money.
Use of a polymer substrate in the upcoming banknotes was announced by Jim Flaherty in the 2010 Canadian federal budget speech on 4 March 2010, at which time he also announced that in the future the loonie ($1 coin) and toonie ($2 coin) would be made of steel instead of nickel to reduce manufacturing costs. Canada became the ninth country to print all its banknotes using a polymer substrate, following Australia, Bermuda, Brunei, New Zealand, Nicaragua, Papua New Guinea, Romania, and Vietnam.
The Bank of Canada began planning for the Frontier series in 2005. It used a team of chemists, physicists, and engineers it had assembled for the development of the 2001 Canadian Journey series to determine potential counterfeiting threats and assess substrate materials and potential security features for use in banknote designs. Once the technical evaluation of materials and security features was complete, the Bank of Canada created a formal set of guidelines specifying "the combination of security features and substrate" that it issued to bank note manufacturing and design companies. The resultant bid designs were evaluated for technical, security, and financial merit.