I believe they meant that they are surprised our banknotes aren’t made of plastic or a more durable material as Canadian dollars are - rather than the other possible interpretation, referring to a cashless economy.
I was once paid for some side job with a Canadian $20 bill, but that was well before 2011, probably more like around 2005. The bank gave me about $18.50 US dollars in exchange at the time.
Many countries are transitioning from paper money for example the UK, Australia have somewhat eliminated paper currency. There is more but I can’t think off the top of my head and I do have multiple foreign notes that are not paper.
All have either switched or are transitioning into polymer money, there is more but that’s just to name a few. I think it’s interesting what type of currency other countries use.
True you’d like to think that, but countries like the UK for example have made paper money obsolete meaning you can no longer use them as legal tender.
I believe Australia have a similar process as well.
And like you say they should accept paper money for a while but I can see some countries just well just making paper money obsolete
Jokes aside I find it interesting that the US still uses paper money
Okay. May I ask what countries don’t?
I mean even if it’s falling out of favor, still, I have not heard of any countries to completely abandon paper cash.
China doesn’t, but yeah, what could go wrong with the authoritarian government tracking every transaction you make
I believe they meant that they are surprised our banknotes aren’t made of plastic or a more durable material as Canadian dollars are - rather than the other possible interpretation, referring to a cashless economy.
Huh, well TIL that Canada switched from cotton paper money to polymer back in 2011.
https://thefinancialgeek.com/blog/canadian-money-made-of/
I was once paid for some side job with a Canadian $20 bill, but that was well before 2011, probably more like around 2005. The bank gave me about $18.50 US dollars in exchange at the time.
Many countries are transitioning from paper money for example the UK, Australia have somewhat eliminated paper currency. There is more but I can’t think off the top of my head and I do have multiple foreign notes that are not paper.
Edit: Canada, Vietnam, New Zealand, Brunei, Maldives, Vanuatu, Mauritania, Nicaragua, Romania….
All have either switched or are transitioning into polymer money, there is more but that’s just to name a few. I think it’s interesting what type of currency other countries use.
Yeah, the USA is generally transitioning away from paper currency as well, but it’s definitely still a thing.
Even if countries decide to totally stop making paper money, they should still accept money still in circulation of noted value for quite a long time.
Should…
True you’d like to think that, but countries like the UK for example have made paper money obsolete meaning you can no longer use them as legal tender.
I believe Australia have a similar process as well. And like you say they should accept paper money for a while but I can see some countries just well just making paper money obsolete