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As of 1 January 2021, the $1, $2, $25, $500 and $1,000 bills from every Bank of Canada series are no longer legal tender. [24] Despite the introduction of new notes, older notes are still in use. + Two varieties were printed, the first with conventional serial numbers , the second with the double date "1867–1967" appearing twice instead.
Printing of the $1,000 note ceased in 2000. The denomination was withdrawn on the advice of the Solicitor General and the Royal Canadian Mounted Police (RCMP), as it was often used for money laundering and organized crime. [5] The Bank of Canada has requested that financial institutions return $1,000 notes for destruction. [6]
[1] [2] It was the last series to include the $2 and $1,000 banknotes. The $2 note was withdrawn in 1996 and replaced by the $2 coin now known as the toonie. The $1,000 note was withdrawn by the Bank of Canada in 2000 as part of a program to mitigate money laundering and organized crime.
The Bank of Canada had begun addressing the problem in late 1955, and in March 1956, it announced that it had ordered the Canadian Bank Note Company and BA International to modify the engraved printing plates for all banknote denominations, resulting in printed banknotes having darkened highlights of the hair behind the ear.
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It was having trouble raising loans either in Canada or in Britain and decided to issue provincial government notes as a way to raise money. [50] The Provincial Notes Act authorized the Province to issue notes up to the value of $8 million, backed partly by gold and partly by government debentures. [ 51 ]
Standard Catalog of World Paper Money - General Issues, 1368–1960, 16th Edition, publication date 2016, Krause Publications, ISBN 978-1-4402-4707-1 This is updated every two years or so. Standard Catalog of World Paper Money – Modern Issues, 1961–Present , 25th Edition, publication date 2019, Krause Publications, ISBN 978-1-4402-4898-6
The $1000 banknote was issued several years later, as it was primarily used by chartered banks, which had a sufficient supply of the 1935 Series $1000 banknote. [ 3 ] This was the first series of bilingual Canadian banknotes, [ 4 ] as the 1935 Series was a dual-language series with French banknotes issued in Quebec and English banknotes issued ...