why is it that the $100 bill is Canada's largest denomination for our currency as printed by the Bank of Canada?
Largest CDN$ bill...
- Thread starter 21pro
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personally, i like the $100 bill. it makes counting larger sums in every other day transactions go alot quicker.
don't see the need for anything bigger than 100, just wanted to ask if there was any other reason for not having a 1000 dollar bill.
don't see the need for anything bigger than 100, just wanted to ask if there was any other reason for not having a 1000 dollar bill.
http://www.bankofcanada.ca/en/banknotes/general/character/1986_1000.html
1988 was the last series of Canadian notes to have the $1000. denomination.
In the mid 90's, it was decided that they would be withdrawn from circulation. All notes are still legal tender.
As it was considered that the $1000. bill was the note of choice for people involved in high volume cash crimes like drug dealing and money laundering, the rest of society must lose the ability to use these items.
Clearly the government of Canada would prefer the 'cashless society' to flourish.
1988 was the last series of Canadian notes to have the $1000. denomination.
In the mid 90's, it was decided that they would be withdrawn from circulation. All notes are still legal tender.
As it was considered that the $1000. bill was the note of choice for people involved in high volume cash crimes like drug dealing and money laundering, the rest of society must lose the ability to use these items.
Clearly the government of Canada would prefer the 'cashless society' to flourish.
G
Gord's Bro
In late 2000, the government decided to stop production of the $1000 bill. While it will remain legal currency, it will gradually be phased our of circulation, leaving the $100 bill as Canada's largest denomination.
I'm not sure why everyone is so excited about $1,000.00 bills. I get them all the time. My Visa bill, my Hydro bill, den renovations etc.
Years ago in order to get g-note you had to sign for it at the bank.I only ever got one,and yes it's origin was a bit shaky,but I received it in earnest.
I miss the purples... they were a nice looking bill.
Cash is going bye-bye, no one seems to wanna accept it anymore, and it seems no one is carrying cash anyway. Hell, back when $1000 bills were in circulation, they were hardly accepted.
Paying by cash (in larger sums anyway) is more or less, deemed shady and suspicious. Try going into a hotel or buying clothes and paying by cash, they'll either turn you away or give you an icy look and maybe call their supervisor.
And it's against the law to pay a large sum with coinage... it really is.
Cash is going bye-bye, no one seems to wanna accept it anymore, and it seems no one is carrying cash anyway. Hell, back when $1000 bills were in circulation, they were hardly accepted.
Paying by cash (in larger sums anyway) is more or less, deemed shady and suspicious. Try going into a hotel or buying clothes and paying by cash, they'll either turn you away or give you an icy look and maybe call their supervisor.
And it's against the law to pay a large sum with coinage... it really is.
Yep,you can rent a car for cash,but must have a CC for the deposit.No amount of cash is accepted.Gawd said:
Winston may be right. Before the BoC existed, banks used to have their own bills (ever wonder why they are called "bank notes"?). In some countries, this still happens (eg. The Royal Bank of Scotland came out with a Jack Nicklaus 5-pound note to comemorate his last Open Championship appearance).
Interbank transactions were/are huge amounts, and cheque processing isn't what it is today, so they would do physical exchange of currency. It would have made sense to have large bills to do this.
Interbank transactions were/are huge amounts, and cheque processing isn't what it is today, so they would do physical exchange of currency. It would have made sense to have large bills to do this.
