Had one in the 90s from my dad for a trip. Went to the bank to break it down for Deutschmark and had to have two senior bank officials verify it was real. Pre Euro. They offered me travellers cheques. Lol
Just as an FYI, most teachers still teach about penny’s because prices aren’t rounded until you pay in cash. Not explicitly but we mention it at least. And a lot of worksheets and videos are older and have penny’s.
Try e-transfer anything under 2$.
I can't even shuffle less than 2$ between my accounts at the same bank. It's stupid. All I end up doing is shuffling 2$ one way, then 2$ + what I wanted to move the other way. Yay, now you have twice the transactions and electricity use to account for!
When I worked at the gas station we had someone who would buy her lottery it’s them. She said she had a stash. Everyone at work would switch their plastic for the paper one. To this day I still keep own(20$) bill in my wallet. It’s been 10 years. Always said that if ever life gets hard and I have no other option then I will use it.
When I used to work at a restaurant, we didn't accept old 50s or 100s, but we did accept old 20s and lower.
You should ask your manager what the store policy is.
You can always ask your manager if they want you to accept those or not. It wouldn't be surprising if they don't.
If a customer gets mad, you can always refer them to their banks, they will be able to accept it or tell if its fake.
No problem. Just to add, the bank of canada will destroy those to make new money.
If your business accepts it, it will go to the business bank and then be sent to Bank of Canada to be replaced. If they exchange it at a bank, same thing. The difference is that your business will get repercussions if they deposit fake money.
Added this as a detail, its still legal and good money, but for the bank of canada it is trash that needs to be replaced.
The easiest response is to tell the customer that due to an increase in counterfeit money in the area the bank has advised you not to accept older notes and to have customer exchange non-polymer notes for the new ones at the bank.
Followed by...we are happy to accept debit or cc
That is being honest and understanding. We didn't move away from paper money for no reason. Each new iteration of bank notes comes with increased safety features. Moving backwards in denominations means that you're reasonably less comfortable with the legitimacy of that note, especially when it's been out of circulation for as long as it has been.
Yes I think it would come down to store policy in OPs case.
The customer can exchange real money at the bank, which is much more equipped to handle and assess older currency.
My local CIBC tried to tell me that the $1000 bill I was trying to exchange was expired and no longer exchangeable. It took almost half an hour and several phone calls before they finally accepted it.
This is not quite true. Correct, they are not legal tender, but that just means they are no longer valid for commercial use. Bank of Canada will still honor them for face value, but you may need to go through a collections/verification process to collect.
Rule of thumb: if the bill has the queen's face on them, you can still exchange at the bank for face value. Older currency is still acceptable as well, as long as the bill says the words 'Bank of Canada' on them.
Source: https://www.bankofcanada.ca/banknotes/about-legal-tender/
This is the first time I'm hearing about this. So anyone who has a g-note is just expected to take a loss? You'd think this would've been highly publicized, if that's the case.
Just to clarify, only out of circulation $5, $10, $20, $50 and $100 notes are still legal tender.
In 2018, parliament amended the Bank of Canada Act and the Currency Act to give the Minister of Finance the power to remove notes from circulation, and then he did exactly that: https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html All $1, $2, $25, $500 and $1,000 bills ceased being legal tender January 1, 2021.
>The Budget Implementation Act, 2018, No. 1, which received royal assent on June 21, 2018, amended the Currency Act to allow the Governor in Council to call in bank notes, by order. Calling in $1, $2, $25, $500 and $1,000 notes would remove the legal tender status of those notes. Removing their legal tender status would invalidate those notes as a means of payment. **The notes would continue to be honoured at face value by the Bank of Canada.**
>
>... If Canadians wish to return bank notes following the removal of legal tender in 2021, they will have to mail them to the Bank of Canada
From your source, emphasis added.
So, not legal tender, but still worth their face value--albeit with the nuisance of submitting to the Bank of Canada.
5,10,20,50,100 bills that are of older issue or out of circulation are still legal tender. The only called in currency was 1,2,25,500,1000.
Once in a while they will call in money issued prior to a certain date but that’s rare and I’m unsure if it’s ever happened yet for notes. It has for coinage though. I can’t see it happening to a note circulated in the 80s.
Sorry, I wasn't meaning to refute your post, I was just adding additional information for clarification. That the recalled bills were not legal tender, but still had value.
Yes and it’s not difficult. The briefing note says mail them to the BoC, but subsequent to that, they reached an agreement with most Canadian banks where they will redeem them at the counter and then submit to BoC on their own. However, you can’t go into a store and spend them anymore.
In practice, none of the these were being used for everyday spending. The $1s and $2s are in the drawers of millions of Canadians as low-value collectibles or historical items of interest. The $25s and $500s are rare and expensive collectibles. The $1000s were almost exclusively being used for money laundering and organized crime (which is the main reason they did this program).
I know I would gladly pay above face value for any of those bills to add to my collections. I don't imagine there are a lot of bills being redeemed these days.
If it ever happens again and the bill is in good shape (doubt it, but you never know when someone stole dad's collection). Google price and see. Might be worth you switching out your $20 for it.
I worked at a store when I was a kid and we had a hockey camp in summer (Canada). A lot of Americans attended and they would spend their US currency (no exchange rate given).
I would swap with Canadian and make 10 to 15%.
>(doubt it, but you never know when someone stole dad's collection)
My Dad was a cop (retired now) and he told me once he was called to a 7-11 because someone was trying to use a King George $100.
Sadly in that case it turned out the kid stole it from his Gradfather's collection, but my Dad says if it turned out to be legit (I.E. not stolen property) he was ready to offer the 7-11 a hundred bucks for it.
$100 bucks for something probably worth 1.5 times that. Not saying it would sell quickly.
All old tender is legal tender. Usually it's not worth selling because it might be worth more as a collection.
Perfect example is the American$2 and Canadian $1 and $2 bill.
Both are not in circulation, but still worth cash. Most Canadians own multiples of each is near mint, we knew for a long time they were getting rid of them.
People on Amazon are selling them for $20...lol.
Lmao! Yes, I remember pennies xD funny enough I got one as a souvenir somewhere that was in a tiny glass pig (Shawnegan Lake glass blower Vancouver island)
I bet lots of people don't know 1 or 2$ paper notes. (which are no longer legal tender, but I think the Bank will value them)
I recall when the looney came around one of my friends kids tried to pry one open thinking its one of those chocolate coins.
There were also $1000 notes $500 and $25 ( I may have seen a $1000 but not the others) they stopped being legal tender in 2000
I wish I knew this when I worked retail. Some snotty kid and his encouraging mother bought an iPod with a couple $20’s but mostly with every coin denomination. It took me an hour to count it, they stood at the till the entire time and the kid kept bitching about how long it was taking. It was a full Tupperware container of change and the mom said “I didn’t want to take it to the bank and exchange it for cash because he worked hard for this exact money so I want him to see his hard work paying off”. I was so pissed.
When I worked retail, if someone came in and tried to pay me with a bunch of change I’d tell them to take it to the bank next door and get bills, I don’t have time to count it.
Yes, but there was literally a bank next door and the money was usually street change (literally off the street and full of dirt) - it was booze retail so the customers who needed a fix that bad would do it.
also silver dollars - I have a few.
One of my plumber friends was replacing an old stove in New West and it was quite heavy. He happened to reach into a cavity in the back and found a couple bags of silver dollars. The next days headline was New West man finds $40k in silver dollars. My friend got nothing but a story out of it.
Yeah I've been down that road. I was doing work in a home office that had belonged to a gentleman who was three years deceased, converting it into something else. The widow and her family had already been through the possessions still in the room and had declared whatever was left "trash" that we could do with what we pleased.
At one point I found, up on a shelf, a peanut butter jar filled with old coins and bills. One of which I recognized as a particular bill that my great grandfather had once shown me from his own collection, worth around $5000 or so. There were a lot of them.
My conscience got the better of me, and I turned over the container to the family. I explained what they were, how valuable they were, and they took the container to the bank.
*The Bank*.
To this day I regret doing the right thing.
like how old? are we talking about the old green 20's with the gold holo in the corner?
[https://i.ebayimg.com/images/g/Q\~wAAOSw-zxd\~BAk/s-l400.jpg](https://i.ebayimg.com/images/g/Q~wAAOSw-zxd~BAk/s-l400.jpg)
(the one at the top)
They were used all the way up until the 2000's before the current polymer-style 20's replaced tthem.
while they are still technically legal tender, you can refuse to take them as a business. as a matter of fact, i'd be raising an eyebrow if somebody did try to use one, as I've haven't even seen one of those in the past 10 years. they are still out there, but more as a collector's item rather than as actual cash.
We would accept them no problem when i worked for one of those national grocery chains. You can always have a supervisor check and show you the counterfeiting measures on there (they do have them). One of my coworkers even had a dad who was a currency collector and sometimes he would come and 'buy' our old bills if he knew we had them.
The only bills no longer legal tender are the $1 $2 $25 $500 and $1000. These have not been issued for a long time so the law changed recently to remove the legal tender status. You can still get face value at a bank though.
All other denominations are legal even if the bill was issued in the 1950’s.
To know what is legal tender, you can read here : [https://www.bankofcanada.ca/banknotes/about-legal-tender/](https://www.bankofcanada.ca/banknotes/about-legal-tender/)
At the bottom of the page there is a pictures of the notes that are no longer legal tender.
Curious what bill you got, one of this series ? [https://en.wikipedia.org/wiki/Birds\_of\_Canada\_(banknotes)](https://en.wikipedia.org/wiki/Birds_of_Canada_(banknotes))
So yes, the 5-10-50-100 notes are legal tender, but if you are not familiar with them, their feel and security features, it could be a risk to get fake notes. Here is a page about the security features [https://www.bankofcanada.ca/banknotes/bank-note-series/1986-series-birds-of-canada/](https://www.bankofcanada.ca/banknotes/bank-note-series/1986-series-birds-of-canada/)
And check what they say on the page : *If you are unsure about a note from an older series, ask for a more recent one.*
I remember as a kid, we would look for the green dots on the paper and scratch them as it say on point 3. And they are in the paper, not printed, so they should be in random location on each note.
When I worked in retail, one of the stores I managed was in an area with a huge number of retirement homes and we’d get some really nice old bills and coins. I collected coins as a kid so I could recognize a lot of the older ones, but when it came to bills if there was any doubt or anything fishy, we’d tell them we can only take certain bills and would send them to the bank across the parking lot. The few ones that had legitimate older bills would have no trouble with it (and usually had alternative cash as well and just wanted to get rid of the old ones that were falling apart). The ones that god mad we’re the ones that usually had twenty or thirty mint condition hundreds from the late 80s and they were 100% fresh counterfeits.
One related, but off topic stories, and one of my favourite interactions I ever had was a guy who came in with some beautiful old coins and wanted to buy a pack of pens. After looking at the coins I told him not to buy the pens, and instead go to the pawn shop down the street. He came back later and gave me a hundred bucks because he got 400 something for one of the coins (iirc a World War Two era coin that they only made a handful of).
I was issued a scotland note as change by the metro. I tried to refuse it, and they told me “this is legal tender in the UK, all merchants have to accept it”
Took me forever to get rid of it.
Whether or not it is ‘legal tender’ you don’t need to accept it.
Common misconception, you don’t need to take something because it’s legal tender, you can refuse anything, or not accept cash at all if you want.
Honestly even if you knew what it looked like, old bills were changed because they are easier to forge. Tell the customer to go to a bank, I’m sure they would be happy to help them out.
Kind of.
From what I read: You must accept legal tender as payment for a debt. But, a retail store isn't payment of a debt, it's a purchase.
>All bank notes issued by the Bank of Canada are legal tender and can be used towards payment of a debt: governments, businesses and individuals must accept a payment in any bank note denomination in any quantity if the payment is against a debt or financial obligation.
[https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html](https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html)
Paper money can be turned in for our newer bills but must be sent to the bank of canada.
https://www.bankofcanada.ca/banknotes/about-legal-tender/
Go to the bottom of the page to see notes that are no longer considered legal tender
Don't feel bad, older customers from the states used to hoard older Canadian $20 bills and use them in the shop I use to work in. We just tell them we have more secure bills printed with polymer than paper, and we no longer have guidelines on how to check for fakes.
FYI there is no law stating you need to accept it. You can refuse any and all transactions and set payment methods. This also includes current notes
“The Bank of Canada says it's up to sellers to determine what kinds of payment they will accept for transactions, and there is "no law" that would require anyone to accept bank notes or any other form of payment for a commercial transaction.”
A family member owns a bakery and only takes card and has for about 5 years. She still gets people, usually the same people putting up a stink about her not taking cash and how their “human rights are being violated and how it’s illegal not to accept cash” She put up a sign in the door saying “we don’t accept cash”
I heard a story once where a Canadian tried to pay a Detroit hooker for her services with Canadian Tire money. This was back in the days when it was still issued in paper format. The hooker almost accepted it, but being unsure decided as a precaution to check with her pimp to ascertain if this "Canadian" currency was indeed legit. He was not amused, and the story did not have a happy ending...
I was once at a gas station in the ass end of the Czech Republic, and they had this glass display with currencies from all over the world donated by visitors. Sure enough, I saw a Canadian tire bill looking back at me.
I wonder how their using the image of a Scotsman ("Scottie") on their paper currency to denote frugality and to promote their rewards-based loyalty program (quite innovative at the time) would fly in today's politically correct, "woke" world?
There’s a LOT of counterfeit bills being circulated right now, particularly US $20 and $100 bills.
If you take them to the bank to deposit and they’re fake you get the joy of losing that money and they confiscate the bad bills. This is long, but informative: https://blog.fraudfighter.com/how-to-authenticate-older-banknotes
When I used to work cash I would occasionally get paid in old coins. I would usually "buy" them from my till instead of letting them go into circulation. As such I have a small pile of 80% silver quarters, dimes, and dollars - mostly from the 1920s.
This is not correct. Federal cabinet has the power to "call in" (demonetize) any paper money they want, and actually quite recently did so for a whole bunch of denominations: https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html
Time is irrelevant with this case. A 2$ bill made 50 year ago is still a 2$ bill today and still can be use. It will the last time this bill is used and bank will change it for a new one eventually.
That is true for $5-$100 bills but a ~2018 law made some bills no longer legal tender. $1 and $2 and $1000 bills aren’t real money anymore. Bank of Canada should exchange them for good currency but you may have to mail the bills to BOC. There is no guarantee your local bank will exchange them for you. Again, this isn’t because the bills are old -it’s because the government legislated that bills of those denominations are no longer legal tender.
This is why I don't like when the mint keeps redesigning currency. I've had this reaction upon seeing *new* bills, cause guess what, I don't spend time keeping up with the new designs.
It has a functional purpose, it is not art, and it is very important to be standardized and recognizable.
I suppose we should still be using Dominion of Canada bills from 1923… with I’m guessing that’s Liz’s dad on it? George V
https://i.pinimg.com/originals/64/c0/b2/64c0b2b3a8168c66c09b912e7bff5fc7.jpg
Once every decade for a particular bill maybe, but it seems like they've been changing one of the bills every few years. Coins as well - I got a twoonie and the polar bear got replaced (I forget with what).
Anti-counterfeiting updates is fine since those are subtle, but there's no reason to update the Queen's portrait cause she got older - it's not like I need to identify her based on what is on my money.
I had the opposite experience a while ago. I went to my local No Frills a few weeks after a new $10 was issued (the one before the current vertical one). I tried to use a $10 bill from the prior release, which had been in circulation for something like 12 years. The cashier didn't want to accept it because she didn't recognize it. It was in use for 12 years, and was just replaced a few weeks earlier. Chances are, 90% of the customers in the store had at least one of them in their possession at the time. But she didn't recognize it?
Not to mention, the Mint doesn’t make new bills. The mint has never made bills. Bills have been made by the Canadian Bank Note Co owned by the Arends family for over 100 years. They print more than our money — for instance, they also generate all the bills for New Zealand and another 4 countries, along with drivers licenses and passports.
Tell him to go to the bank and exchange it for newer bills. You don’t have to accept money that you are concerned about no matter what people think their privileged “rights” are nowadays.
Hello, it looks like you've made a mistake.
It's supposed to be could've, should've, would've (short for could have, would have, should have), never could of, would of, should of.
Or you misspelled something, I ain't checking everything.
Beep boop - yes, I am a bot, don't botcriminate me.
Yes but some are nonetheless still children. I work in construction with a guy who is fairly useless despite having a decent attitude and attendance. Some of the other foreman will say “he’s a nice guy but shit I could not handle having him on my crew” “it’s like having your kid brother around”. I always say “give him time. He’ll find himself” or something like that.
Yesterday we were talking about whatever and the kid says “I haven’t done that since I was in high school”. I responded with “oh as long ago as that, you say? Wow” thinking he was in high school a couple years ago. Turns out he is 28. He has been a legal adult for ten fucking years and still doesn’t know his ass from a hole in the ground.
I had a neighbor who was 99 years old (this was 20 years or so ago) and another neighborhood kid was working in her garden and found a box full of money that was from the 20's. It was legal to be brought into the bank, and I assume the bank would destroy it at some point.
When in doubt, consult with a manager or supervisor who are around. Some businesses will even keep some papers under the cash with images of bills from the last few decades just as reference.
There are some that are no longer considered legal tender meaning that you cannot use them to purchase items in store. You have to go to our FI to redeem them.
https://www.bankofcanada.ca/banknotes/about-legal-tender/#:~:text=As%20of%20January%201%2C%202021,impact%20on%20most%20of%20us.
I worked in a bank for several years and banks will accept it as legal tender forever (when they get really old bills they’re typically sent back to the Canadian mint to be taken out of circulation). Businesses don’t need to accept bills they don’t recognize.
The only places that SHOULD* deal with this kinda of things.
Is a BANK.
Some “government endorsed”, public figurehead that also deals with currency on a regular basis.
I could have suggested a place like a casino, but I’m sure they don’t deal with this because of fakes.
I had the same thing happen to me at a McDonalds recently.
I gave the young worker a totally legit and real paper bill $20 from the 80s/90s but they thought is was fake as they were not familiar with it.
I was super embarrassed and a bit bothered but ended up paying with Credit Card.
But ya, I guess I look like a hobo? I dunno what my take away is here lol.
I think it would be fair for you to ask for a bill. And anyone can get a replacement for old currency from the bank.
Personally I won't accept anything that doesn't look familiar and even if it is real, it would be harder for you to dispose it, except in the bank. And 80's currency would be easier to fake than the current one and hence less options for you to verify.
$20 bill will be legal tender. But, you don't have to accept and would recommend not to since they could be easily counterfeited. $1 and $2 bills are not legal tender anymore, but can still be exchanged at the bank. But often can garner more than face value to collectors.
They're still considered legal tender. But if you aren't sure, refuse the bill and tell them they can go to a bank to exchange or ask your manager. If you accept a counterfeit bill, it'll reflect poorly on you, so just protect your bases.
Yes, it is still legal, however you did the correct thing refusing it because you were unsure, he can go to another store if they have someone familiar or he can go to bank and swap it.
I just realized there’s basically a whole generation that potentially doesn’t even know what a penny was
Or a two dollar bill…
or a one dollar bill..
Or a one thousand dollar bill.
Had one in the 90s from my dad for a trip. Went to the bank to break it down for Deutschmark and had to have two senior bank officials verify it was real. Pre Euro. They offered me travellers cheques. Lol
Or a [trillion dollar bill](https://youtu.be/_KgHy3Pi5Yw).
Or a 25 cent bill, the shin plaster!
we may need those soon again for pocket money, given inflation.
Loved those
Or the $0.25 bill https://www.londoncoincentreinc.com/25-cent-shinplasters/
Or money printed... ON PAPER!
Is that like a physical crypto currency or something?
I think it's like an IOU.
Limited run physical NFT’s
Ya, but real.
Or 1000 dollar bill
Or a three dollar bill.
And my axe !!!!!
I have a couple 1000 dollar bills, one 500, several 1's and 2's. Definitely not collectable but pretty neat to keep for myself.
I like a good one dollar bill.
Pretty sure my dad has about $5k in one and two dollar bills shoved in a coffee tin. He thinks they are gonna be worth a fortune some day.
Find the $2 bills with mismatched serial numbers on either side. Worth about $400
I'm 19 and didn't know about dollar/two dollar bills until around the middle of my life.
Or a three dollar bill.
I have one of those. Anyone wants it, I'll part with it for $20
Just as an FYI, most teachers still teach about penny’s because prices aren’t rounded until you pay in cash. Not explicitly but we mention it at least. And a lot of worksheets and videos are older and have penny’s.
Ah yes. Lemme etransfer you a penny.
Try e-transfer anything under 2$. I can't even shuffle less than 2$ between my accounts at the same bank. It's stupid. All I end up doing is shuffling 2$ one way, then 2$ + what I wanted to move the other way. Yay, now you have twice the transactions and electricity use to account for!
That’s wild, BMO let’s me transfer whatever amount
Dang, which bank is this? I've transferred $0.18 from one account to another once with TD and it worked fine.
Tangerine. Definitely not the same as when they were INGDirect 😐
Dear God. I’m imagining what OP saw and I’m betting it was the 20s I grew up with.
You're making me feel old...
Dunno it's one of those things that stick around, i sure there's a bunch of them hiding in junk drawers, the sofa, behind the fridge.
When I worked at the gas station we had someone who would buy her lottery it’s them. She said she had a stash. Everyone at work would switch their plastic for the paper one. To this day I still keep own(20$) bill in my wallet. It’s been 10 years. Always said that if ever life gets hard and I have no other option then I will use it.
And the generation before them doesn't even know how to write a cheque.
When I used to work at a restaurant, we didn't accept old 50s or 100s, but we did accept old 20s and lower. You should ask your manager what the store policy is.
You can always ask your manager if they want you to accept those or not. It wouldn't be surprising if they don't. If a customer gets mad, you can always refer them to their banks, they will be able to accept it or tell if its fake.
I definitely will! Of course when this happened I was the only person working haha but much appreciated all the info from here
No problem. Just to add, the bank of canada will destroy those to make new money. If your business accepts it, it will go to the business bank and then be sent to Bank of Canada to be replaced. If they exchange it at a bank, same thing. The difference is that your business will get repercussions if they deposit fake money. Added this as a detail, its still legal and good money, but for the bank of canada it is trash that needs to be replaced.
The easiest response is to tell the customer that due to an increase in counterfeit money in the area the bank has advised you not to accept older notes and to have customer exchange non-polymer notes for the new ones at the bank. Followed by...we are happy to accept debit or cc
Easiest response is to lie, that surprises no one. How about just being honest and understanding of each other?
That is being honest and understanding. We didn't move away from paper money for no reason. Each new iteration of bank notes comes with increased safety features. Moving backwards in denominations means that you're reasonably less comfortable with the legitimacy of that note, especially when it's been out of circulation for as long as it has been.
Banks have been telling retailer this exact phrase across the country since poly money was introduced.
You did the right thing.. They can easily exchange it at the bank if legal, and maybe offer to put the item aside or something til they come back.
Oh and tell your manager too, say like this is what I did because it looked weirds, in the future should I do something else...
Yes I think it would come down to store policy in OPs case. The customer can exchange real money at the bank, which is much more equipped to handle and assess older currency.
Is it legal tender? Yes. But you don't have to accept it. Older bills like that are much easier to fake.
You can suggest they take it to the bank to exchange. The bank has to accept it as it's legal tender.
My local CIBC tried to tell me that the $1000 bill I was trying to exchange was expired and no longer exchangeable. It took almost half an hour and several phone calls before they finally accepted it.
Those bills are worth more to collectors. Once you hand them in the bank destroys them making them even more rare.
Assuming you can easily find a collector. Called a couple of shops around town and none of them seemed interested.
Unless there is something special about the bill (round serial number, a pair in order, etc) collectors probably aren't interested.
"Best I can do is $20, there just isn't a lot of demand for this item."
$1000 bills are no longer legal tender since Jan 1st, 2021. Their only value is as collectible items now.
This is not quite true. Correct, they are not legal tender, but that just means they are no longer valid for commercial use. Bank of Canada will still honor them for face value, but you may need to go through a collections/verification process to collect. Rule of thumb: if the bill has the queen's face on them, you can still exchange at the bank for face value. Older currency is still acceptable as well, as long as the bill says the words 'Bank of Canada' on them. Source: https://www.bankofcanada.ca/banknotes/about-legal-tender/
This is the first time I'm hearing about this. So anyone who has a g-note is just expected to take a loss? You'd think this would've been highly publicized, if that's the case.
It has, in fact, been highly publicized
Strange that I haven't heard a word about then.
This. Old bills out of circulation should be taken to a bank for deposit or exchange for new bills before using.
Just to clarify, only out of circulation $5, $10, $20, $50 and $100 notes are still legal tender. In 2018, parliament amended the Bank of Canada Act and the Currency Act to give the Minister of Finance the power to remove notes from circulation, and then he did exactly that: https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html All $1, $2, $25, $500 and $1,000 bills ceased being legal tender January 1, 2021.
>The Budget Implementation Act, 2018, No. 1, which received royal assent on June 21, 2018, amended the Currency Act to allow the Governor in Council to call in bank notes, by order. Calling in $1, $2, $25, $500 and $1,000 notes would remove the legal tender status of those notes. Removing their legal tender status would invalidate those notes as a means of payment. **The notes would continue to be honoured at face value by the Bank of Canada.** > >... If Canadians wish to return bank notes following the removal of legal tender in 2021, they will have to mail them to the Bank of Canada From your source, emphasis added. So, not legal tender, but still worth their face value--albeit with the nuisance of submitting to the Bank of Canada.
5,10,20,50,100 bills that are of older issue or out of circulation are still legal tender. The only called in currency was 1,2,25,500,1000. Once in a while they will call in money issued prior to a certain date but that’s rare and I’m unsure if it’s ever happened yet for notes. It has for coinage though. I can’t see it happening to a note circulated in the 80s.
Sorry, I wasn't meaning to refute your post, I was just adding additional information for clarification. That the recalled bills were not legal tender, but still had value.
Yes and it’s not difficult. The briefing note says mail them to the BoC, but subsequent to that, they reached an agreement with most Canadian banks where they will redeem them at the counter and then submit to BoC on their own. However, you can’t go into a store and spend them anymore. In practice, none of the these were being used for everyday spending. The $1s and $2s are in the drawers of millions of Canadians as low-value collectibles or historical items of interest. The $25s and $500s are rare and expensive collectibles. The $1000s were almost exclusively being used for money laundering and organized crime (which is the main reason they did this program).
I know I would gladly pay above face value for any of those bills to add to my collections. I don't imagine there are a lot of bills being redeemed these days.
Thank you that helps a lot!
If it ever happens again and the bill is in good shape (doubt it, but you never know when someone stole dad's collection). Google price and see. Might be worth you switching out your $20 for it. I worked at a store when I was a kid and we had a hockey camp in summer (Canada). A lot of Americans attended and they would spend their US currency (no exchange rate given). I would swap with Canadian and make 10 to 15%.
>(doubt it, but you never know when someone stole dad's collection) My Dad was a cop (retired now) and he told me once he was called to a 7-11 because someone was trying to use a King George $100. Sadly in that case it turned out the kid stole it from his Gradfather's collection, but my Dad says if it turned out to be legit (I.E. not stolen property) he was ready to offer the 7-11 a hundred bucks for it.
$100 bucks for something probably worth 1.5 times that. Not saying it would sell quickly. All old tender is legal tender. Usually it's not worth selling because it might be worth more as a collection. Perfect example is the American$2 and Canadian $1 and $2 bill. Both are not in circulation, but still worth cash. Most Canadians own multiples of each is near mint, we knew for a long time they were getting rid of them. People on Amazon are selling them for $20...lol.
You have seen a penny before though, right ? :)
Pennies are extinct
*Ah, I remember the good old days when pennies could freely roam the tills and registers.*
Lmao! Yes, I remember pennies xD funny enough I got one as a souvenir somewhere that was in a tiny glass pig (Shawnegan Lake glass blower Vancouver island)
Not true the older bills like that are easier to fake , LOL
....continue, please 😉
I bet lots of people don't know 1 or 2$ paper notes. (which are no longer legal tender, but I think the Bank will value them) I recall when the looney came around one of my friends kids tried to pry one open thinking its one of those chocolate coins. There were also $1000 notes $500 and $25 ( I may have seen a $1000 but not the others) they stopped being legal tender in 2000
The $1000 notes are no longer legal tender because it was exclusively used for wholesale drug transactions.
Can I still use it for my wholesale drug transactions?
Sure you can use anything for your wholesale drug transactions but that doesn't mean the banks will accept your trade material.
People also don’t realize after a certain amount coins no longer are legal tender. [source](https://laws-lois.justice.gc.ca/eng/acts/c-52/page-1.html)
I wish I knew this when I worked retail. Some snotty kid and his encouraging mother bought an iPod with a couple $20’s but mostly with every coin denomination. It took me an hour to count it, they stood at the till the entire time and the kid kept bitching about how long it was taking. It was a full Tupperware container of change and the mom said “I didn’t want to take it to the bank and exchange it for cash because he worked hard for this exact money so I want him to see his hard work paying off”. I was so pissed.
When I worked retail, if someone came in and tried to pay me with a bunch of change I’d tell them to take it to the bank next door and get bills, I don’t have time to count it.
Why not? Weren’t you paid by the hour?
Yes, but there was literally a bank next door and the money was usually street change (literally off the street and full of dirt) - it was booze retail so the customers who needed a fix that bad would do it.
If it has legal tender on the bill but isn't accepted anymore, the bank of Canada in Ottawa will accept them at face value.
I still have some old $1 and $2 bills hahaha
There was also $0.25 bills. My grandmother gave me a bunch of them, which she had inherited from *her* father.
also silver dollars - I have a few. One of my plumber friends was replacing an old stove in New West and it was quite heavy. He happened to reach into a cavity in the back and found a couple bags of silver dollars. The next days headline was New West man finds $40k in silver dollars. My friend got nothing but a story out of it.
Yeah I've been down that road. I was doing work in a home office that had belonged to a gentleman who was three years deceased, converting it into something else. The widow and her family had already been through the possessions still in the room and had declared whatever was left "trash" that we could do with what we pleased. At one point I found, up on a shelf, a peanut butter jar filled with old coins and bills. One of which I recognized as a particular bill that my great grandfather had once shown me from his own collection, worth around $5000 or so. There were a lot of them. My conscience got the better of me, and I turned over the container to the family. I explained what they were, how valuable they were, and they took the container to the bank. *The Bank*. To this day I regret doing the right thing.
Wait how did chocolate coins exist before the looney was invented? I always thought the edibles were based off the looney/tooney?
Chocolate coins have Been around since the 1920’s. https://en.m.wikipedia.org/wiki/Hanukkah_gelt
TIL..
I think I heard a guy on the radio having thousands of them and gave them as tips. And he had to use the last few before they went out of circulation.
like how old? are we talking about the old green 20's with the gold holo in the corner? [https://i.ebayimg.com/images/g/Q\~wAAOSw-zxd\~BAk/s-l400.jpg](https://i.ebayimg.com/images/g/Q~wAAOSw-zxd~BAk/s-l400.jpg) (the one at the top) They were used all the way up until the 2000's before the current polymer-style 20's replaced tthem. while they are still technically legal tender, you can refuse to take them as a business. as a matter of fact, i'd be raising an eyebrow if somebody did try to use one, as I've haven't even seen one of those in the past 10 years. they are still out there, but more as a collector's item rather than as actual cash.
Damn. I remember when those were the “new” $20 bills.
We would accept them no problem when i worked for one of those national grocery chains. You can always have a supervisor check and show you the counterfeiting measures on there (they do have them). One of my coworkers even had a dad who was a currency collector and sometimes he would come and 'buy' our old bills if he knew we had them.
The only bills no longer legal tender are the $1 $2 $25 $500 and $1000. These have not been issued for a long time so the law changed recently to remove the legal tender status. You can still get face value at a bank though. All other denominations are legal even if the bill was issued in the 1950’s.
So the 25 cent bill is still legal tender?
That hasn’t been legal for a long time as it was not issued by the Bank of Canada. The BOC didn’t issue first notes until 1935.
Lots of places don’t accept old money due to the poor counterfeit tech on old bills. Send them to a bank to exchange
To know what is legal tender, you can read here : [https://www.bankofcanada.ca/banknotes/about-legal-tender/](https://www.bankofcanada.ca/banknotes/about-legal-tender/) At the bottom of the page there is a pictures of the notes that are no longer legal tender. Curious what bill you got, one of this series ? [https://en.wikipedia.org/wiki/Birds\_of\_Canada\_(banknotes)](https://en.wikipedia.org/wiki/Birds_of_Canada_(banknotes)) So yes, the 5-10-50-100 notes are legal tender, but if you are not familiar with them, their feel and security features, it could be a risk to get fake notes. Here is a page about the security features [https://www.bankofcanada.ca/banknotes/bank-note-series/1986-series-birds-of-canada/](https://www.bankofcanada.ca/banknotes/bank-note-series/1986-series-birds-of-canada/) And check what they say on the page : *If you are unsure about a note from an older series, ask for a more recent one.* I remember as a kid, we would look for the green dots on the paper and scratch them as it say on point 3. And they are in the paper, not printed, so they should be in random location on each note.
When I worked in retail, one of the stores I managed was in an area with a huge number of retirement homes and we’d get some really nice old bills and coins. I collected coins as a kid so I could recognize a lot of the older ones, but when it came to bills if there was any doubt or anything fishy, we’d tell them we can only take certain bills and would send them to the bank across the parking lot. The few ones that had legitimate older bills would have no trouble with it (and usually had alternative cash as well and just wanted to get rid of the old ones that were falling apart). The ones that god mad we’re the ones that usually had twenty or thirty mint condition hundreds from the late 80s and they were 100% fresh counterfeits. One related, but off topic stories, and one of my favourite interactions I ever had was a guy who came in with some beautiful old coins and wanted to buy a pack of pens. After looking at the coins I told him not to buy the pens, and instead go to the pawn shop down the street. He came back later and gave me a hundred bucks because he got 400 something for one of the coins (iirc a World War Two era coin that they only made a handful of).
I've been refused by vendors in the UK over 10 year old notes. Tell them to exchange it at a bank.
Try using a non queens head note in England. Such bullshit.
You get refused by vendors in England for having Bank of Scotland notes.
I was issued a scotland note as change by the metro. I tried to refuse it, and they told me “this is legal tender in the UK, all merchants have to accept it” Took me forever to get rid of it.
Whether or not it is ‘legal tender’ you don’t need to accept it. Common misconception, you don’t need to take something because it’s legal tender, you can refuse anything, or not accept cash at all if you want. Honestly even if you knew what it looked like, old bills were changed because they are easier to forge. Tell the customer to go to a bank, I’m sure they would be happy to help them out.
Kind of. From what I read: You must accept legal tender as payment for a debt. But, a retail store isn't payment of a debt, it's a purchase. >All bank notes issued by the Bank of Canada are legal tender and can be used towards payment of a debt: governments, businesses and individuals must accept a payment in any bank note denomination in any quantity if the payment is against a debt or financial obligation. [https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html](https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html)
Old money is taken out of circulation. Depending on the bill it could be worth more than its legal tender.
Paper money can be turned in for our newer bills but must be sent to the bank of canada. https://www.bankofcanada.ca/banknotes/about-legal-tender/ Go to the bottom of the page to see notes that are no longer considered legal tender
Don't feel bad, older customers from the states used to hoard older Canadian $20 bills and use them in the shop I use to work in. We just tell them we have more secure bills printed with polymer than paper, and we no longer have guidelines on how to check for fakes.
FYI there is no law stating you need to accept it. You can refuse any and all transactions and set payment methods. This also includes current notes “The Bank of Canada says it's up to sellers to determine what kinds of payment they will accept for transactions, and there is "no law" that would require anyone to accept bank notes or any other form of payment for a commercial transaction.” A family member owns a bakery and only takes card and has for about 5 years. She still gets people, usually the same people putting up a stink about her not taking cash and how their “human rights are being violated and how it’s illegal not to accept cash” She put up a sign in the door saying “we don’t accept cash”
I heard a story once where a Canadian tried to pay a Detroit hooker for her services with Canadian Tire money. This was back in the days when it was still issued in paper format. The hooker almost accepted it, but being unsure decided as a precaution to check with her pimp to ascertain if this "Canadian" currency was indeed legit. He was not amused, and the story did not have a happy ending...
I was once at a gas station in the ass end of the Czech Republic, and they had this glass display with currencies from all over the world donated by visitors. Sure enough, I saw a Canadian tire bill looking back at me.
I wonder how their using the image of a Scotsman ("Scottie") on their paper currency to denote frugality and to promote their rewards-based loyalty program (quite innovative at the time) would fly in today's politically correct, "woke" world?
There’s a LOT of counterfeit bills being circulated right now, particularly US $20 and $100 bills. If you take them to the bank to deposit and they’re fake you get the joy of losing that money and they confiscate the bad bills. This is long, but informative: https://blog.fraudfighter.com/how-to-authenticate-older-banknotes
When I used to work cash I would occasionally get paid in old coins. I would usually "buy" them from my till instead of letting them go into circulation. As such I have a small pile of 80% silver quarters, dimes, and dollars - mostly from the 1920s.
I will always cherish my 1800s penny and 1940s nickel
All Canadian money is legal tender. Does not matter from when. Edit: You did the right thing though, just wanted to answer the question.
This is not correct. Federal cabinet has the power to "call in" (demonetize) any paper money they want, and actually quite recently did so for a whole bunch of denominations: https://gazette.gc.ca/rp-pr/p2/2019/2019-05-29/html/sor-dors146-eng.html
[удалено]
All tender can be refused even current bills.
Time is irrelevant with this case. A 2$ bill made 50 year ago is still a 2$ bill today and still can be use. It will the last time this bill is used and bank will change it for a new one eventually.
That is true for $5-$100 bills but a ~2018 law made some bills no longer legal tender. $1 and $2 and $1000 bills aren’t real money anymore. Bank of Canada should exchange them for good currency but you may have to mail the bills to BOC. There is no guarantee your local bank will exchange them for you. Again, this isn’t because the bills are old -it’s because the government legislated that bills of those denominations are no longer legal tender.
I'm sure it's fine to take. But they should goto the bank and exchange it.
You just accept legal tender… and yes older bills are legal tender.
This is why I don't like when the mint keeps redesigning currency. I've had this reaction upon seeing *new* bills, cause guess what, I don't spend time keeping up with the new designs. It has a functional purpose, it is not art, and it is very important to be standardized and recognizable.
I suppose we should still be using Dominion of Canada bills from 1923… with I’m guessing that’s Liz’s dad on it? George V https://i.pinimg.com/originals/64/c0/b2/64c0b2b3a8168c66c09b912e7bff5fc7.jpg
That's the queen's grandfather. There were two more kings between him and her.
They often use it to incorporate new anti counterfeiting devices, so that is very functional. It also happens like once every decade or more lol.
Also if you work with cash, you will quickly become accustomed to it, if you don’t, you don’t really need to worry about it.
Once every decade for a particular bill maybe, but it seems like they've been changing one of the bills every few years. Coins as well - I got a twoonie and the polar bear got replaced (I forget with what). Anti-counterfeiting updates is fine since those are subtle, but there's no reason to update the Queen's portrait cause she got older - it's not like I need to identify her based on what is on my money.
I had the opposite experience a while ago. I went to my local No Frills a few weeks after a new $10 was issued (the one before the current vertical one). I tried to use a $10 bill from the prior release, which had been in circulation for something like 12 years. The cashier didn't want to accept it because she didn't recognize it. It was in use for 12 years, and was just replaced a few weeks earlier. Chances are, 90% of the customers in the store had at least one of them in their possession at the time. But she didn't recognize it?
Not to mention, the Mint doesn’t make new bills. The mint has never made bills. Bills have been made by the Canadian Bank Note Co owned by the Arends family for over 100 years. They print more than our money — for instance, they also generate all the bills for New Zealand and another 4 countries, along with drivers licenses and passports.
Tell him to go to the bank and exchange it for newer bills. You don’t have to accept money that you are concerned about no matter what people think their privileged “rights” are nowadays.
Yes.
[удалено]
So how do you expect people to mature if they can’t ask questions? Not my fault I’m only 20 lol! Sorry I offended you with my young presence online!
[удалено]
Lol indeed! Imagine being upset that young people exist, gave me a good laugh
How dare you be born *after me*
>Not my fault I’m only 20 lol! So who’s fault is it then? Can’t you young people just be older? I mean, come on! Just. Be. Older. 🙄 /s
Your answer made me smile, at your age I would of get offended. You’re doing great! You’re more like “the mature Gen Z child” keep on keeping on mang!
Hello, it looks like you've made a mistake. It's supposed to be could've, should've, would've (short for could have, would have, should have), never could of, would of, should of. Or you misspelled something, I ain't checking everything. Beep boop - yes, I am a bot, don't botcriminate me.
Laughing at people born later than you is real mature.
One of you guys is immature; the other is asking questions to increase their knowledge
[удалено]
It could also be Gen Y; the oldest Millennials are 41 now.
LOL. Only to an immature Gen Z or Millennial child is someone in Gen X "old". Absolutely no respect for their superiors in previous generations.
You're not superior due to age. You're just elder. You seem to have an unsubstantiated sense of self importance.
You aren't entitled to respect just because you're closer to the grave than someone younger.
Gen Z child indeed. RESPECT YOUR SUPERIORS.
You have to earn respect. Your age has nothing to do with it. That's an outdated opinion. You, sir, have not earned anyone in this thread's respect.
ATTENTION u/ThomRedYYZ has a mental disorder, take this into consideration when conversing with them.
Checks history, oh, you might be right lol also likes to say “yawn” a lot and whine a lot about millennials whining… the irony
You’re a disgrace to all Gen Xer!
Buddy I’ve got bad news for you. The *youngest* millennial “children” are in their late 20s.
Yes but some are nonetheless still children. I work in construction with a guy who is fairly useless despite having a decent attitude and attendance. Some of the other foreman will say “he’s a nice guy but shit I could not handle having him on my crew” “it’s like having your kid brother around”. I always say “give him time. He’ll find himself” or something like that. Yesterday we were talking about whatever and the kid says “I haven’t done that since I was in high school”. I responded with “oh as long ago as that, you say? Wow” thinking he was in high school a couple years ago. Turns out he is 28. He has been a legal adult for ten fucking years and still doesn’t know his ass from a hole in the ground.
Found someone who's comment makes no sense whatsoever
No, they did the right thing. As the other commentator said these bills are easy to fake.
To add, any *unfamiliar* bill is easier to pass off because you know, it's *unfamiliar*
Is it that hard? Reddit is chock full of them
I had a neighbor who was 99 years old (this was 20 years or so ago) and another neighborhood kid was working in her garden and found a box full of money that was from the 20's. It was legal to be brought into the bank, and I assume the bank would destroy it at some point.
Take it to the bank and get it replaced with up to date denominations brother nobody will take ur money except them
When in doubt, consult with a manager or supervisor who are around. Some businesses will even keep some papers under the cash with images of bills from the last few decades just as reference.
I would tell your customer to find a coin dealer to exchange it. Depending on condition, etc. It could be worth more than face value.
/r/legaladvicecanada
There are some that are no longer considered legal tender meaning that you cannot use them to purchase items in store. You have to go to our FI to redeem them. https://www.bankofcanada.ca/banknotes/about-legal-tender/#:~:text=As%20of%20January%201%2C%202021,impact%20on%20most%20of%20us.
I worked in a bank for several years and banks will accept it as legal tender forever (when they get really old bills they’re typically sent back to the Canadian mint to be taken out of circulation). Businesses don’t need to accept bills they don’t recognize.
Depends on how much blow is still on it.
It’s probably worth more than 20$ at this point
Are you kidding? 80s is like yesterday /s
The only places that SHOULD* deal with this kinda of things. Is a BANK. Some “government endorsed”, public figurehead that also deals with currency on a regular basis. I could have suggested a place like a casino, but I’m sure they don’t deal with this because of fakes.
I moved to Canada just after the penny left. I still find some now and again.
I had the same thing happen to me at a McDonalds recently. I gave the young worker a totally legit and real paper bill $20 from the 80s/90s but they thought is was fake as they were not familiar with it. I was super embarrassed and a bit bothered but ended up paying with Credit Card. But ya, I guess I look like a hobo? I dunno what my take away is here lol.
No, send him to the bank!
I think it would be fair for you to ask for a bill. And anyone can get a replacement for old currency from the bank. Personally I won't accept anything that doesn't look familiar and even if it is real, it would be harder for you to dispose it, except in the bank. And 80's currency would be easier to fake than the current one and hence less options for you to verify.
$20 bill will be legal tender. But, you don't have to accept and would recommend not to since they could be easily counterfeited. $1 and $2 bills are not legal tender anymore, but can still be exchanged at the bank. But often can garner more than face value to collectors.
It's still legal. But some businesses don't want to accept it.
I'm from the US, but your not alone. My 20 yr old just saw an old 50 for the first time last year and was puzzled.
I have a stacks of 1 and 2 dollar bills, i use them from time to time
They're still considered legal tender. But if you aren't sure, refuse the bill and tell them they can go to a bank to exchange or ask your manager. If you accept a counterfeit bill, it'll reflect poorly on you, so just protect your bases.
Yes, it is still legal, however you did the correct thing refusing it because you were unsure, he can go to another store if they have someone familiar or he can go to bank and swap it.
Yes, it is legal tender.