I believe OP meant to say 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.
Comment on I have $5 genuine United States dollars here.
over_clox@lemmy.world 1 day agoOkay. 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.
sparky@lemmy.federate.cc 23 hours ago
over_clox@lemmy.world 13 hours ago
Huh, well TIL that Canada switched from cotton paper money to polymer back in 2011.
thefinancialgeek.com/…/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.
Ste41th@lemmy.ml 1 day ago
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.
It’s interesting to see
over_clox@lemmy.world 1 day ago
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…
Ste41th@lemmy.ml 1 day ago
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’t see some countries just well just making paper money obsolete
ledix@lemmy.world 17 hours ago
China doesn’t, but yeah, what could go wrong with the authoritarian government tracking every transaction you make