New ten dollar bills are soon being released with a new design and updated security features.
Bank of Canada Analyst in the BC and Yukon Branch, Farid Salji, explains.
“We used to develop a new series of notes every ten to 15 years, we condensed that down to every eight to ten years, and now we’ve changed that up to a rolling schedule. Every two to three years we’ll come out with a denomination of the next series of notes.”
The next set of new notes are the five dollar bills.
Viola Desmond will be on the new tens. She was a black Nova Scotian businesswoman made famous by being involved in one of the first known legal challenges against racial segregation.
As for new security features, they include micro-print, holography, colour changing designs, 3-D effects and a tactile feature.
“We work with other central banks to see where they are succeeding, where the security features are failing, what counterfeiters are trying, and so on,” Salji says.
“We always push the envelope when it comes to security so our note is state of the art.”
The new ten dollar notes are set to begin circulating late 2018.
You can get a closer look at the bill here.