March 13, 2010

Will plastic money still grow on trees?

This week the Canadian government announced that to reduce costs and battle counterfeiters, the Bank of Canada will start issuing polymer $10 and $20 bills later this year. So they will be more plastic-based, as opposed to our current cotton-based paper. Wait -- our paper is cotton, like Kleenex? Who knew? Gross. Ick.

This plastic-type money is currently used in several other countries, including Mexico. And we all know how strong their currency is...

Actually this sounds like a good idea. The new plastic money will be harder to counterfeit as can embed better security, and will be less grubby as the plastic will not absorb oil, sweat, or anything else. Ick. Swiss researchers have found that flu viruses can survive in paper money for 17 days. Ick.

I don't like thinking about money, because I don't know where it has been and how truly gross that coloured paper may be. So yes I am totally on side with the idea of cleaner more germ-free money.

So the important questions are: what will the new money look like? Are there changes to our loonies and toonies ($1 and $2 coins)? Will the plastic money be shinier or slippier? Can we recycle it?

And now that the cotton/paper money will be gone, will we have to stop making old-school Vaudeville jokes about money growing on trees? Can we come up with some 'made in a lab' jokes? Some sly reference to The Graduate and plastics? And what about burning through money? Won't plastic money melt rather than burn?

Oy, this sarcasm thing is hard work....

14 comments:

Tawnya said...

Interesting, plastic money. The money in the U.S is printed on something call rag paper, so it is most likely close to what you have there. Maybe they will get rid of coin money there... I have only been to Canada once, although I live about 20 minutes from the border. I am thinking it is time for another trip soon.

injaynesworld said...

Oh you Canadians... Always one step ahead of us. What will you think of next? Health care for all?!

Robin said...

....plastic money...is that like a rubber check...I hope it does'nt bounce, as well..who knows now...

Vodka Logic said...

Interesting idea.. I read that 100% of money has cocaine on it.. may be it can be laundered better now and the nasty stuff wont stay on it so long.

Stan in NH said...

Nice. Sarcasm is hard work, but sooooo worth it when it works. It does here, quite nicely. :) In the US, we'll probably just stay with our paper money, since it would cost more to replace it that it's worth! Besides, we don';t need another reason to use more oil. :)

Kate@And Then I Was a Mom said...

At this rate, no one in Canada will need Purell. Think of how much (plastic) money you will now be able to save.

Annie (Lady M) x said...

I still can't believe that in this day and age, we actually need money. If you think about it, the technology is in place to pay for everything in a virtual way (i.e. using your bank card). That is, unless I am missing something and there are scenarios where bank cards don't work..... bloody interesting post though! thanks Brahm

Kevin said...

Money? What's money? You mean there's a way to pay for things other than a Visa credit card? Will I get Aeroplan points using plastic dollar bills?

Australia has been using this polymer for their dollar bills for a long time. The money is beautiful: very colourful. Having said that, they have also removed the 1 and 2 cent coins from circulation (and the cash register rounds the amount owing up or down to the nearest 5 cent total). Maybe we are on our way to following the example set by Australia.

If they are not changing the $5 bill to this polymer, I wonder if it will be replaced with a coin in the future?

I would like to see the size and weight of our coins reduced so they are not as heavy when carried.

Bucko (a.k.a., Ken) said...

I think plastic money would be harder to carry around in the wallet. Sounds interesting if it lasts longer, but not sure how practical.

Brahm said...

The Australia example sounds interesting, dumping pennies and nickels would be good. But then what do we use in parking meters or subways? I actually hardly use cash money anymore.

Look at us Canadians - health care for all, gays in the military, gay marriage, and now plastic money - what's next, a good public transit system??? Nah...

Rusty Hoe said...

Yep down here (Oz) we've been plastic fantastic for years. I don't know if it's any cleaner, sometimes you get handed a note and you wish you had tongs and a hazmat suit. I kinda figure that in a million years some futuristic archeologist will be digging up bundles of valueless Aussie dollars to add their collection of fake boobs, butt implants other 21st century plastic antiquities.

Mrsblogalot said...

HA! LOL at Jayne!

I guess you'd have to have some kind of money to begin with to notice the difference right?

Whew! You're right. I'm exhausted.

bmat10 said...

USD already has plastic elements in the bills. Having done a stint in banking, and performing all sorts of functions I can tell you this does not have a lot to do with counterfeiters. It is simple economics. The plastic has a longer shelf life therefore they don't have to replace the bills so often.

J@v@JuNKo said...

I can't wait for this! When i lived in Australia they have the "plastic money" and it's awesome! I could wash it or had it in my shorts swimming and fold it and it would still be in great shape! I've lost a lot of money to my washing machine so I can't wait

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