High Tech Money

One of the interesting things about living near a border is the way that people deal with currency.  Virtually every major store in Essex County has a currency exchange rate posted so that people making purchases using US currency know how much it is in Canadian money.  It’s not quite the same on the other side of the border.  I recall once being in Lapeer, forgetting where I was, and pulled out a five dollar bill to pay for something.  If you’re not familiar with it, my American friends, the Canadian five dollar bill is blue in colour.  I still remember the clerk saying “What is this $hit?”  Even though the exchange rate had tipped the scale and that five dollars Canadian was actually worth more than five dollars American, he wouldn’t have any part of it.

Canadian Currency is interesting.  I learned a great deal about it when I embarked on a personal mission for OSAPAC putting together the Canadian Currency Collection when we licensed SMART Ideas as a graphic organizer.  This allowed teachers to use Canadian Currency with students in place of the stock American money.  It was only then that I learned that our money is actually made in two places.  Paper money is manufactured by the Bank of Canada and the coins by the Royal Canadian Mint.  On behalf of OSAPAC, I contacted both to get clearance to distribute the images of the currency.

Just announced is a new form of our “paper” money.  It’s gone high tech and will no longer be made of paper.  It’s now going to be made of a high tech polymer.  Details are outlined in the following video recently made available.

How cool is that?  This will really mess up my friend in Lapeer!  It may be a while before I get my hands on a new bill.  They’re rolling out the $100 bills first.  I can’t recall the last time that I had one of those.  They probably won’t be accepted across the border anyway.  Thankfully, my wallet still has the divider so that I can put Canadian currency in one part and American currency in the other part.

Advertisements

3 Replies to “High Tech Money”

  1. Given that I’m currently “cleaning house” at both school and at home, I marvel at the amount of things made from paper that we both benefit from, and rely upon. Moving towards a paperless learning environment certainly suggests we’ll have less “paper clutter,” if I can be so irreverent as to include traditional learning materials within that phrase.

    And it’s highly unlikely that many of us would easily say that paper (cotton) currency is part of our “paper clutter” problem. Would that it were.

    However, closely coincident with my recent reading of this article, was my happening upon a different item related to the amounts of plastic accumulating on our oceans. Whether it was a radio or Internet item I can’t recall, but a quick web search just now located this article as one of many articles that speak about the long-standing impacts our use of plastics is having on our environment. Maybe some more-easily biodegradable items are better for some applications. Maybe the thinking is that most folks won’t go throwing money in the oceans.

    However, with the use of pin-and-chip based cards, and the pending arrival of RFID-identified smart phone wallets, maybe there’s an argument to be made for leap-frogging the plastic currency? ‘Cause, yeah, Doug. It’s been a while since I saw a Canadian C-note. (Borden, isn’t it?)

    Like

  2. You’ve got me thinking a bunch here, Andy. I actually seldom use currency anymore, opting for debit or credit payment. The world is still not on board with that though. How many times do you go to a convenience store and debit is only for purchases over $5? Or, you go through a drive through at your favourite coffee shop and they don’t take debit for faster service. I hate looking under the seat for quarters… But, the big thing is that money never goes down as opposed to over forms that require active connections to work. I can’t see us forsaking real, hard currency for a while yet.

    Like

  3. Well, you are correct when you reference going through the drive-thru at your favourite coffee shop, as I do have to avoid them specifically when I don’t have cash with me (unlike every other drive-thru … although apparently Timmy’s did a study and found that card payments slow down their lines). But perhaps the small exchange (pun) purchases are what the small denomination coins are for — apparently the CDN $5 coin is coming. But what’s the point of a $50 or $100 (or higher!!) ?? ‘cep tin’ when the power goes out, that is?

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s