New plastic bills reportedly melting in summer heat
Posted on 7/24/2012
They are meant to be “safer, cheaper and greener” but Canada’s new plastic $50 and $100 bills might not be worth the paper (or plastic) they’re written on, if some reports are to be believed.
Brittney Halldorson, a teller at the Interior Savings Credit Union in Kelowna, says the polymer bills are supposed to withstand boiling water but she’s heard of cases where several of the bills have melted together inside a hot car, The Canadian Press has reported.
In an interview with the Metro, Miss Halldorson said: “We have seen it a few times now where there have been either three or four, or five to 10 (bills) all melted together.”
Seemingly adding more fuel to the bonfire of the bills, the Toronto Star said Thursday that it had confirmed a report of a Halifax man who put his wallet on a toaster oven only to find later that three $100 bills had formed into the shape of a Coke bottle.
A polymer version of the $20 note was released into circulation in early May and the redesigned $10 and $5 denominations will follow over the next two years.
The revamped $100 note was released first with much fanfare in November by Bank of Canada governor Mark Carney. The paperless, plasticized bills “are more secure, more economical, and better for the environment than any we have issued previously,” Carney said at the launch, but at 17 cents each, they cost around twice as much as paper bills to produce.
Canada is a relative latecomer to polymer banknotes, with similar bills already in circulation in more than a dozen countries including Australia, Bangladesh, Zambia, Vietnam and Singapore.
As yet, there have been no reports from those countries of melting or mis-shaped bills. While the Bank of Canada says it can’t guarantee that under extreme conditions the bills won’t damage, it’s probably sound advice not to leave wads of $100 notes on your toaster oven or locked inside an unattended car.
The thoughts and opinions in this piece are those of their author and are not necessarily the thoughts of the Certified Collectibles Group.