Canada Switches to Plastic Currancy
Coins are heavy, paper bills tear, and checkbooks are obsolete.
Enter: Paper Money
Believe it or not, it’s already used in 30 or so countries. It’s durable, recyclable, and difficult to counterfeit. Polymer bills also last up to four times longer in circulation than dollar bills.
The Bank of Canada recently unveiled their new plastic currency—the $100 bill. If all goes well, the $50 will be released in March 2012, the $20 in late 2012, and the $10 and $5 in 2013.
Are plastic bills the green choice? After all, we all know the impact that plastic has on the environment.
It’s important to note that these bills are recyclable. The plastic may not be used to make new dollar bills, but it can be used to make other items.
Plastic bills are durable. They’re resistant to water and most microbes—hence the longer time spent in circulation. They’re also difficult to tear and are able to return to their original state when folded.
Plastic bills can last 4 times longer in circulation than paper bills. This means that in the US, a $5 plastic bill could last 5 years, 4 months in circulation (compared to 1 year, 4 months for a paper bill). A $100 plastic bill could last up to 30 years in circulation!
What do you think? Are plastic bills the greener option?
For More Information:
- Note Printing Australia
- Federal Reserve Note
- Canadians Will Pay With Plastic Bills
- Canada Switches to Plastic for $100 Bills