Some Bills Are Going Away This Year-End

A heads up that some of your money – if you have this kind of money – will stop being legal tender:

Some Canadian bills are losing their legal tender status from the Bank of Canada at the end of this year. So you won’t be able to take them to the bank or use them in stores anymore. But no worries – tiny odds you even have them. And if you do, they’re worth way more than you think!

The one and two dollar bills stopped being issued in 1989 and 1996 respectively. You may still have some, but they’re too much of a cheap souvenir to turn them in. Your kids or grandkids will love to get them from you.

The $25 note has only 1,840 left out in the world. Rare always equals expensive so a reputable collector will give you way more than face value.

Did you know Canada had a $500 note? Who knew? I think it was only issued one year in the 1930s. But get this: There are only 40 left out there. The Bank of Canada obviously knows how many it printed and how many came back from Canadas’ banks out of circulation. THAT is rare. A very good quality one without stains or marks is worth $50,000. THAT is a big return if one of your grandparents could afford to get it and keep it.

Lastly, the $1,000 bill won’t be legal tender anymore. Those I have seen. I don’t have one, but it’d be a great Christmas present if someone is still wondering what to get me. They’re not rare – there are 632,000 of them still out there. A very good condition one is worth 20 to 30% more than face value. But for all of them, if you find any of them after the New Year and do want to just cash them in, the Bank of Canada will still honour the, but you’ll have to mail them directly to them.

While those bills are going away, the new $100 bill is less likely to be accepted by vast numbers of businesses. There have been over 11,000 fake ones caught in 2018 so businesses aren’t accepting them. Weren’t the new bills supposed to be almost counterfeit proof?

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