Monday, October 22, 2012

Canada Unveils a Seven-Story High Bank Note Image on Office Building

Canada’s central bank spent the equivalent of nearly 2,000 new $20 bills — or close to $40,000 in total — to announce the new polymer banknote and display a seven-story image of it on the Bank of Canada’s headquarters in downtown Ottawa.

A seven-story image of the front and back of the $20 bill was installed in May on the bank’s east tower to show off the new banknote and announce it will officially go into circulation in November.

Broken down, the central bank paid $35,832 (or about 1,792 worth of the banknotes) to a digital imaging company on the design, production and installation of the two images on the glass office tower, according to the documents.

The images were printed on a product called “Clearview,” which displays the note from the outside, but is transparent to people inside the building.

An additional $2,640 (or the equivalent of 132 new or old $20 banknotes) was also paid to a window washing company to clean the building’s glass tower and help prepare the seven-story display between the second and eighth floors. The bank paid an additional $452 to a party rental company for a tent that was used for the outdoor news conference with Carney and Flaherty.

The images of the new $20 bill are affixed on the building facing the high-traffic corner of Wellington and Bank streets and will remain there for a total of six to 12 months.

The bank felt it was important to promote the new bill and help educate Canadian consumers and retailers so they know it will gradually be released into circulation, beginning Nov. 7.

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