Worth more than its face value because of its age.In response, many Canadians began to examine their paper bills and wondered if what they have in their possession was: All other banknotes issued by the Bank of Canada remain legal tender. The official reason for this was that many older bills still recognized as legal tender lacked basic security measures to help prevent counterfeiting. In January of 2021, multiple denominations of official Bank of Canada paper currency were no longer recognized as legal tender. By performing some basic research into the serial numbers of paper bills, you can find out the true value of your outdated currency. With the changes in the making regarding formalizing Canadian currency, the value of what is now unrecognized currency has become a question. Because Canada has the paper bills history it does, moving to a more formal currency system has left a lot of paper money unusable but still valuable. You can tell Canadian paper money value by serial numbers by researching serial number databases. If you have old bills lying around, it’s worth learning how to tell Canadian paper money value by serial numbers. ![]() Some of it is worth much more than its assigned denomination. The $1 and $2 notes do not have this prefix letter.Canada has a diverse history with paper currency, including many forms of bills that lack basic security features. This prefix letter was added to the serial numbers on $5 and higher notes starting with Series 1996. It changes whenever the series year or series year suffix letter changes. * The prefix letter on the serial number for denominations $5 and higher indicates the note series. Serial Numbers - Series Year and Serial Number Relationship Table Denomination The last letter still can be anything but O or Z, and is still occasionally replaced by a star, with the same meaning as before. On these notes, the first letter corresponds to the series of the note and the second letter of each serial number now represents the issuing FRB and ranges from A through L. A "star" note has its own special serial number followed by a star in place of a suffix letter.įederal Reserve notes, beginning with Series 1996, have two letters rather than one at the beginning of the serial number. Reusing an exact serial number to replace an imperfect note is costly and time consuming. A "star" sheet is used to replace the imperfect sheet. ![]() When an imperfect sheet is detected during the manufacturing process after the serial number has been overprinted, it must be replaced with a new sheet. On some notes, a star appears in place of the last letter. ![]() The letter O is not used because of its similarity to the digit 0, and the letter Z is not used because it is reserved for test printings. ![]() At the time of a series change, the suffix letter returns to the letter A and repeats the cycle. The last letter advances through the alphabet when all eight character serial numbers have been printed for a specific Federal Reserve Bank within the same series. The first letter of such a serial number identifies the Federal Reserve Bank (FRB) which issued the note since there are 12 FRBs, this letter is always between A and L.
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