Bank of Canada Issues Upgraded $10 Bank Note

The Bank of Canada today put into circulation an upgraded $10 bank note with enhanced security features. The design, colour, and theme (Remembrance and Peacekeeping) of the upgraded $10 note are the same as those of the previously issued $10 note from the Canadian Journey series.

To improve the security of Canadian bank notes and to stay ahead of counterfeiters, the Bank is continuously researching and developing new and enhanced security features. The upgraded $10 note, like the $20, $50, and $100 notes of the Canadian Journey series, contains a metallic holographic stripe, a watermark portrait, a windowed colour-shifting thread woven into the paper, a see-through number, and enhanced fluorescence under ultraviolet lighting. The Bank is upgrading the $10 note in response to an increase in the counterfeiting of lower-denomination bank notes.

"These enhanced security features make it easy for consumers and cash-handlers to verify the authenticity of their bank notes, but difficult for counterfeiters to copy," said David Dodge, Governor of the Bank of Canada.

The Bank provides its partners and the general public with educational materials to help familiarize them with the security features found on all Canadian bank notes, as well as the quick and easy techniques that can be used to distinguish a genuine from a counterfeit note. For more information on Canadian bank notes, their security features, and educational and training materials, visit https://www.bankofcanada.ca/en/banknotes/.

"It simply makes good business sense for retailers to do what they can to protect themselves from accepting counterfeit notes," said Len Crispino, President and CEO of the Ontario Chamber of Commerce. "That is why we strongly encourage businesses to make use of the educational materials provided by the Bank of Canada, and to inform cash-handlers on how to detect counterfeit notes. Verifying the authenticity of a bank note takes only a few seconds, and can protect businesses from unnecessary losses due to counterfeiting."

Since announcing its plan to upgrade the $10 note on 20 January 2005, the Bank has been working with its many partners, including retailers, financial institutions, and the manufacturers and operators of bank note handling equipment, to ensure the smooth introduction of the upgraded note into daily cash transactions.

The upgraded $10 note will be available across Canada within the next couple of weeks. As with all bank notes issued by the Bank of Canada, older versions of the $10 note still in circulation remain legal tender. The Bank expects to replace older $10 notes in circulation with the upgraded $10 notes within approximately one year.

Note to Editors:

• Images of the front and back of the upgraded $10 bank note are available to the media upon request. Anyone wishing to publish bank note images must first obtain written permission from the Bank of Canada.