Laughing all the way to the Bank of Canada!

Plastic is the new paper according to the Bank of Canada for their currency. In an effort to deter counterfeiting the Bank of Canada will issue new $20 bills into circulation this week. The funny money will include “see-through sections, metallic images, raised inks, and hidden numbers” all extremely difficult to counterfeit (Bank of Canada). While most of this is in an effort to increase security, the new notes are also designed this way for the environment. Most would say these new bills look and feel cool but how can plastic be environmental?

If you think carefully about it, when was the last time that you threw away money? (In the literal sense not the expensive textbook that was supposed to be used “every week” or you will fail the course!) The answer is probably never. That is what Canada is hoping considering that the new bills are supposed to last 2.5 times longer than paper. This reduces both processing and replacement costs, making them environmentally friendly.

The Bank of Canada states that in laboratory tests these notes can be “boiled, frozen, and subjected to a number of substances such as coffee and honey” while still being able to come out clean and usable in the end. The switch to plastic money has many benefits to the government and to the users but environmentally I would still challenge this. Although the use of paper is absent from this currency you still have to replace it with another product. Plastic production in itself can be environmentally harmful considering the amount of toxins released in the process. While the bills are modernizing an outdated method the chosen material should be tested further to see if the environmental impacts are truly lowered in comparison to paper currency.

Works Cited:

1. Sokoo, Daniel. For the Bank of Canada’s new $20 bill, plastic is fantastic. The Star. 8 November 2012. Web.

2. BankofCanadaOfficial. Canada’s New Polymer Bank Notes-Made to Last. YouTube. 31 October 2012. Web

Advertisements

One comment

  1. fauds004

    Polymer Bank notes, if you base them solely off of security purposes, I think it’s a great idea considering all the great facts about it. Especially when counterfeiting issues have been a problem for a number of years now, this is indeed a great way to deter that from continuing because a polymer bank note is not easily replicated unless you have the proper equipment, which most people probably don’t. A longer lifetime, can withstand just about any substance and extreme temperatures. A longer lifetime time that cuts down on production and replacement costs are great long-term effects, which, like you said, does make it environmentally friendly. However, on the long-term side of things when it comes down to the production of the material, I think they should of, if they hadn’t already, collected data on how the amount of toxins that are released in the process are environmentally harmful and are they still worth being produced? Instead of immediately producing the polymer bank note, further tests should of been run to make sure that this is material is adequate for mass production environmentally and not just for security reasons. As for what stage they are at, I think their main reason for the use of this material was thought mainly for security reasons, and not environmental reasons, which they will eventually find out.

Leave a Reply

Please log in using one of these methods to post your comment:

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

%d bloggers like this: