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<p>[QUOTE=&quot;tristen1230, post: 1437989, member: 35223&quot;]<span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">This is in response to your email in which you suggested </font><font face="Tahoma">bringing back the $1 and $2 dollar bank notes.</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">The $1 note was replaced by a coin on 30 June 1989 and the $2 note was replaced on 16 February1996.&nbsp; Like all bank notes ever issued by the Bank of Canada, they are still legal tender.</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">The $1 and $2 notes were replaced with coins to save money.&nbsp; Because the $1 and $2 notes changed hands so frequently, they lasted less than a year.</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">$1 and $2 coins cost about 16 cents each to produce whereas the $1 and $2 notes cost about 6 cents. However, the coins last about 20 years so even though they are initially much more expensive to produce, in the long run they are more cost-effective. As a result of the change to coins, Canadian taxpayers will save about $250 million over 20 years with the $2 coin and $175 million over 20 years with the $1 coin.</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">Only Parliament has the authority to add new or delete existing denominations of coins and bank notes. Such decisions are made in consultation with the Royal Canadian Mint (which issues coins) and the Bank of Canada (which issues bank notes).</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">The Bank of Canada has no plans to introduce the $1 or $2 bank note back into circulation.</font></font></span></p><p><br /></p><p><span style="color: #2A2A2A"><font face="Times New Roman"><font face="Calibri">I hope this information is helpful and thank you for your interest in Canadian currency.</font></font></span></p><p><br /></p><p><br /></p><p><font face="arial black"><span style="color: #2a2a2a">Now the first thing I wonder if the 16 cents includes the cost of the machinery, electricity or time spent and pay for that time spent on each coin for the workers which they probably don&#039;t care about. So then another question way she said the coin lasts 20 years and the bill lasts less than a year but that is taken from the paper money. Now with the new plastic bills production cost will be lower AND it is way more durable than the paper bill.</span></font>[/QUOTE]</p><p><br /></p>

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