Canada is trying to fight counterfeiters with a new plastic form of cash. The Bank of Canada will release the new bills later this year. The bills, which have two see-through windows, are also cheaper to make and last about 2 1/2 times longer than the traditional note paper.
Plastic money dates back to the early 1980s, when it was used in Costa Rica and Haiti. Other countries like Honduras, Ecuador and El Salvador also used them in the ’80s.
Unlike paper money, plastic bills don’t curl or fray at the corners, so “it causes about 40 percent fewer jams in automated teller machines and bill-counting devices.”
There is still the problem if the bills will survive a wash-and-dry cycle as it hasn’t been tested yet.
The $100 bills, pictured above, will be issued in November. The $50 bills (also pictured above) will be available in March of 2012. The $20 bills will be introduced late next year.
Here’s a short video from the Bank of Canada showing the new currency:
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