A trusted Canadian brand like Muzeum can easily identify your Canadian paper money value.
If you have old banknotes lying around in drawers or boxes stuffed away in closets, it’s worth identifying if they hold more value than meets the eye. What happens if one of them is rare and ends up being worth more than its face value?ĭon’t underestimate the value of your old Canadian paper bills. That said, you may want to consider the value of your old Canadian paper bills before you return them to a bank. The Bank of Canada will still honour the value of old Canadian paper money – all you have to do is return the bills to a financial institution.
As of January 1, 2021, you can no longer use these discontinued Canadian bills in transactions: $1, $2, $25, $500, and $1,000. The government is removing the status of old Canadian bills in an effort to reduce counterfeiting since they lack the security features that current in-print bills have. It’s time to turn in your old Canadian paper money.
