SH> 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.
SH> 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."
SH> 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.
SH> 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. ;)
--- tg BBS v0.6.3
* Origin: Fido by Telegram BBS by Stas Mishchenkov (2:460/58)
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