Saugeen Shores Police Service

Bank of Canada Information on older $5 Bills

 

FOR IMMEDIATE RELEASE

July 7, 2009

Bank of Canada and Saugeen Shores Police Service  are advising retailers and the public that paper money without the metallic stripe is not necessarily counterfeit

[Saugeen Shores]–The Saugeen Shores Police Service has received several complaints regarding possible counterfeit $5 bills circulating in the region. Investigations into these complaints have revealed that the bills thought to be counterfeit were in fact genuine. The bills submitted to police were issued by the Bank of Canada in 2002 prior to the introduction of bank notes that bear the metallic stripe.

While the majority of notes in circulation (95%) now bear this new stripe, it is possible to occasionally come across an older $5 or $10 bill that does not have this feature

The Bank of Canada is working hard to remove older notes from circulation. Businesses can help by depositing older notes at financial institutions. They, in turn, will check them and return them to the Bank of Canada for destruction.

If cash-handlers aren’t familiar with the security features of older-style bills, they should ask for the most recent and secure notes from their customers. However, for those who would like to accept these older $5 and $10 notes as payment, these bills have security features such as the three iridescent maple leaves found near the centre of the bill that change from a faint image to a shiny gold colour. The raised ink can also be felt on newer and older-style notes by rubbing your fingers over the large number, the portrait, and the words BANK OF CANADA—BANQUE DU CANADA.

To learn more about the security features found on Canada’s paper money, or to obtain free educational materials visit <http://www.bankofcanada.ca/en/banknotes> or call
1 888 513-8212.

For more information, please contact Saugeen Shores Police Service at 519-832-9200

 

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