Do such bills actually exist?

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Do such bills actually exist?

The million dollar bill is a souvenir bill. :( The highest denomination that I am aware of that the Bank of Canada issues is the $1,000 bill. However, even this souvenir bill can fetch a modest price if in good condition. Mine is not so good.


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August Abolins wrote to Wilfred van Velzen <=-

The million dollar bill is a souvenir bill. :( The highest
denomination that I am aware of that the Bank of Canada issues is the $1,000 bill. However, even this souvenir bill can fetch a modest
price if in good condition. Mine is not so good.

In accordance with amendments to the Bank of Canada Act and the Currency Act approved by Parliament in 2018, the federal government recently decided toremove
legal tender status from some older bank notes as of January 1, 2021.
This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.

The $1 and $2 notes stopped being issued in 1989 and 1996, respectively, andwere replaced with coins.
The $25 note was a commemorative note. Both it and the $500 note werediscontinued shortly after they
were issued in 1935.
The $1,000 note stopped being issued in 2000.
Some rarer notes could be worth significantly more than face value tocollectors.
The Bank of Canada has provided step-by-step instructions for sending banknotes directly to the Bank for redemption using our Bank Note RedemptionService.
For more information, read our backgrounder on changes to legal tender status. - Bank of canada website, May 31, 2019

So that kind of sucks for people who pay cash for large purchases.

Shawn

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This change will affect the $1, $2, $25, $500 and $1,000 notes, which are no longer being produced. Essentially, this means that Canadians will no longer be able to use them in transactions.

The $1 and $2 notes stopped being issued in 1989 and 1996, respectively, andwere replaced with coins. The $25 note was a commemorative note. Both it and the $500 note werediscontinued shortly after they were issued in 1935. The $1,000 note stopped being issued in 2000.

BUT.. I think the same article continues to say:

"But, the bank said these notes will not lose their value. Canadians can redeem them or keep them."

Some rarer notes could be worth significantly more than face value tocollectors.

It might be possible to list them on eBay - and hope for the best, but generally, a buyer/collector is not guaranteed to pay the boastful purported price mentioned in some news article.


SH> The Bank of Canada has provided step-by-step instructions for sending banknotes directly to the Bank for redemption using our Bank Note RedemptionService. For more information, read our backgrounder on changes to legal tender status. - Bank of canada website, May 31, 2019

Meanwhile, just delivering them to any canadian bank ought to work too.

So that kind of sucks for people who pay cash for large purchases.

I don't visit the bank as often anymore (pissed off at how slow they operate and charge service fees for NO service) ..so I end up with bulky piles of 20's or 50's that I wouldn't mind reducing to a few 500's or something.

It would easier (no fees, and faster) to just hand over the 20's and 50's and get the larger denominations and walk out than it is to make a deposit. ;)

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Wilfred van Velzen wrote to All <=-

Do such bills actually exist?

Clinton?
Gates?
Barr?
Mumy?



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August Abolins wrote to Wilfred van Velzen <=-

Do such bills actually exist?

The million dollar bill is a souvenir bill.

When I was a kid, I remember watching a SpiderMan cartoon, and the
bad guy wanted a 2 million dollar ransom paid in 2 1 million dollar
bills.

I imagined trying to pass those off at a 7-11.



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Shawn Highfield wrote to August Abolins <=-

So that kind of sucks for people who pay cash for large purchases.

I suppose that's the idea. The 2020 coin shortage combined with
the pandemic has people urged to use debit cards instead of cash.
Money is as unsanitary as it's always been but now it's treated like
it's a petri dish.

In the USA, the "war on drugs" prompted the discontinuance of larger denominations, and the PATRIOT act made purchasing or carrying $10,000
in cash an object of additional scrutiny, regardless of circumstance.

While it sounds tin-foil hattish, you know that in some circles of
banking and government there have to be people thinking that being
able to trace all financial transactions is a good thing and an
end-game where the government has complete control over the money (and therefore the constituency) is a good thing.



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When I was a kid, I remember watching a SpiderMan cartoon, and the
bad guy wanted a 2 million dollar ransom paid in 2 1 million dollar
bills.

I imagined trying to pass those off at a 7-11.

I am imagining Bart Simpson asking for ~2 million squishies at the
Qwik-E-Mart.

Mike


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