Canada unveils new polymer $20 bill

May 2, 2012 at 2:56 PM

OTTAWA, May 2 (UPI) -- The Bank of Canada Wednesday unveiled the design of a new high-tech polymer $20 bill, the most counterfeited bill in circulation.

The display of the new bill in Ottawa follows the release of similar $100 bills that went into circulation in November and $50 bills introduced in March.

Minister of Finance Jim Flaherty and Bank Governor Mark Carney said apart from features much more difficult to reproduce, the bills are cheaper to produce than paper-cloth bills and will last at least twice as long.

The bills feature such security measures as transparent windows, invisible numbers and metallic portraits, the bank said in a release.

The bank said $20 bills account for more than 50 percent of all bills in circulation.

The new notes will begin circulating in November and the remaining $10 and $5 denominations will be replaced with polymer versions by the end of 2013, the release said.

Canada uses coins for $1 and $2 denominations and is scheduled to stop producing pennies later this year.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Topics: Jim Flaherty
Latest Headlines
Top Stories
Joel Osteen heckled, 6 arrested during service at Houston megachurch
Ghost hunters discover woman's body at abandoned Mississippi hospital
Walmart sorry for making Islamic State cake after rejecting Confederate flag cake
Export-Import Bank ends operations as Congress failed to reauthorize
Obama signs fast-track trade, worker assistance bills into law