Bank of Canada launches polymer $20 bills

The Bank of Canada is officially issuing their Polymer $20 bills on Nov. 7, 2012. (YouTube)

A plastic version of Canada’s most popular bill will be officially issued by the Bank of Canada in a ceremony Wednesday.

The new $20 polymer bills pay tribute to the military and features the Canadian National Vimy Memorial on the back of the note.

The Bank of Canada launched the polymer series last November when it issued the $100 bank note, followed by the $50 note in March.

Like its plastic predecessors, the synthetic $20 bill will include holographic security areas, raised ink and metallic images printed on a transparent window. The RCMP has lauded the new security figures as an important step against counterfeit bill production.

The popularity of the $20 bill makes it a target for counterfeiting, a practice the BoC intends to battle with its entire polymer bank note series.

The synthetic bill series has proved to be somewhat frustrating for consumers and small business owners who say the new design makes it undetectable in some bill counters and ATMs, a concern that may grow when the new $20 bill enters circulation.

The remaining bank notes in the series, the $5 and $10 notes, will be unveiled and issued by the end of 2013.