Tourists Jonathan Bailey (L) and Paul Kennington check out the Canadian Currency Museum in front of an oversized digital display of the new Canadian $20 polymer bill.
This month’s release of the country’s new state-of-the-art, polymer $20 bank note – including a unique see-through element – is reflected in a recently revamped “In the Money” exhibition at the Canadian Currency Museum, a Centretown tourist stop that traces the evolution of the country’s coinage and paper money.
The Bank of Canada launched the redesigned $20 bill, the country’s most-used denomination, on Nov. 7.
The most recent of the bank’s Frontiers series of bill designs, the $20 note includes modern security technology and is the first of its kind to include large transparent windows.
The “In the Money” display at the bank-run museum displays the progression of Canada’s currency from 1730 to the new notes produced today.
Like entering a bank vault, visitors step into a room filled with hundreds of thousands of dollars worth of bank notes.
Behind the steel barred door, the first part of the exhibit presents collectible bank notes in a chronologically organized drawer system.
Caroline Roberts, the exhibition and program planner of the currency museum, says the permanent drawers are an enhancement to the exhibit. Visitors can pull out any drawer along the timeline’s setup, and read about bank notes from previous years.
In the last 77 years, six series of Canadian bank notes were released. Although the theme of Canadian heritage remains constant, the security features have been continuously updated.
The beet-red face of the original 1935 note series features the once-inventive technology of raised ink and fine-line patterns.
A dozen or so drawers down the timeline you can see the Canadian Journey bank notes that you currently have stuffed in your wallet have come a long way.
Providing a vivid pallet of colours, the $20 bill – the most recent of the series – includes a metallic strip, UV-light exposed text and ghost images that people enjoy looking for in the light.
Stepping across the hall for the second half of the exhibit, visitors are welcomed by glass panels, touch-screen TVs and a large table lighting up the new $20 note.
“The design of the see-through panels featuring the polymer notes was inspired by the transparent window in the new notes,” says Roberts.
Combining technology with hands-on learning, visitors may put their finger on the bank note via an interactive touch screen monitor.
The monitors encourage visitors to spot the different security features, including fine print and hidden numbers. The new bill features engraved maple leaves and metallic images in its transparent windows.
“The windows are really cool. It’s good to know they’re hard to counterfeit,” says Alon Valdman, a visitor at the exhibit.
According to Julie Girard, the senior analyst for media relations at the Bank of Canada, “the incorporation of the metallic images in the transparency is what makes it state of the art . . . it is a difficult combination of security features to counterfeit.”
Also shifting from cotton-paper to polymer plastic, the exhibit puts the lifespan of the note to the test.
Visitors are asked to pull, fold and rub a $50 polymer note on display. More than 5,805 folds later, the obviously creased note is still intact.
“I really like how they will last longer. Like they can go in the washing machine and they don’t get crumpled. That’s cool,” says Valdman.
Girard says the new polymer notes will last up to seven years – that's 2.5 times longer than the previous series.
Because the demand for bank notes rises in line with the Canada’s GDP, Girard says the Bank of Canada must increase its production of bank notes to meet their growing demand.
No details are given on the next series of notes, but the Bank of Canada is already researching the possibility of further innovation.
“The Bank of Canada is always doing research to look at what’s coming up next,” says Girard. “What that’s going to look like I don’t know, I can’t fill you in, but we are definitely already looking at it.”