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The currency of Canada is known as the Canadian Dollar. The symbol is $ or C$, and the code is CAD. While currencies or bills come in the denominations of five, ten, twenty, fifty, hundred and five hundred, the one and two dollars are now available as coins. These coins are called the Loonie and the Twoonie. |
Unlike the green US dollars, or the greenbacks as they are commonly called, the Canadian Dollars are bright and are considered a cultural pride for the Canadians. The first series of bills that were printed in 1935 used a ratio of three is to one percent flax to cotton.
However, since 1983, hundred percent cotton paper is being used to print all bank notes adhering to the environmental laws pertaining to flax. Once the designs for the Canadian bills are approved the banks contract the Canadian Bank Note Company Limited and BA International Incorporated, the two security printing companies to start the printing process. The companies use large lithographic and intaglio plates to produce sheets of notes. The Bank of Canada has the final say in all stages of printing. Once printed, the notes are delivered by the Bank through its operation centers in Toronto and Montreal to the country’s financial centers.
The approximate lifetime of a Canadian five and ten dollar is one to two years. A Canadian twenty dollar has a life span of two to four years. While it is between four to six years for a fifty dollar, and seven to nine years for a Canadian hundred dollar bill.
According to the Bank of Canada, the makers of Canadian bank notes, the Canadian bills can be checked for authenticity using the TiLL method to prevent any counterfeits to rotate in the market.
The TiLL is a simple method to check bills, and helps to check the security features on all Canadian bills. The method includes checking the presence of touch raised ink, the color shifts in the metallic stripe and dashes on the notes. It also checks for ghost images, puzzle number and the dashes form a solid line. However, the older-style bills do not carry the metallic stripes and the Bank of Canada does not reimburse counterfeit currencies.
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