Federal Government To Remove Legal Tender Status From Many Old Bank Notes

Series of bank notes issued between 1935 and 1986 will lose legal tender status on January 1, 2021.

A series of bank notes issued between 1935 and 1986 will soon lose their status as legal tender.

$1, $2, $25, $500, and $1000 bank notes from that time will no longer be recognized as of January 1, 2021.

Here’s what the Bank of Canada said in a statement:

“The Government of Canada now has the power to remove legal tender status from bank notes—something it could not do before. Effective January 1, 2021, the Government will remove that designation from certain bank notes that are no longer being produced—the $1, $2, $25, $500 and $1,000 notes— the final step to fully removing them as transactional notes in Canada. This initiative is supported by the Bank of Canada.”

The Bank says the notes – even after legal tender status is removed – can be redeemed for new notes of equal face value:

“In short, removing legal tender status means that some older bank notes will no longer have the official status of being approved for payments of debt. Essentially, that means you will no longer be able to spend that 1935 $25 bank note to buy items at a store. But these bank notes will not lose their face value. If you have any of them, you will still be able to take them to your financial institution or send them to the Bank of Canada to redeem their value.”

Below, you can view the notes that will be stripped of their legal tender status:

The first series (1935)

The bilingual series (1937)

Canadian Landscape series (1954)

Scenes of Canada series (1969–79)





Birds of Canada series (1986)



Government shouldn’t have this power

Personally, I oppose the government having the power to remove the legal tender status of bank notes, and not just because many of the notes above look far better than the new notes issued today.

The real concern is that giving the government the power to simply declare notes invalid is going too far, particularly in the context of the move by government’s around the world to eliminate the use of cash.

Elitist politicians are obsessed with having control over every transaction, and seeing what every Canadian is doing with their money, and the attempt to wipe out cash is a step in a dangerous direction when it comes to the privacy and financial independence of the Canadian People.

Many countries manage just fine without giving their government’s the power to declare notes invalid, and there is no good reason for Canada to be making this change.

If anything, we should be encouraging the use of more cash overall, as it provides an important tangible backup to the incredibly vulnerable computer-based financial system.

The endless move towards more and more convenience (aka electronic financial transactions) has created a system that – while efficient – could be collapsed or brought down in one swift move, a vulnerability that cash does not have. While we obviously won’t be going back to using cash for the majority of transactions, we still need to keep it around, and we should oppose government efforts to interfere with that.

Spencer Fernando

Photo – Screengrab (Bank of Canada)

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Don’t worry Spencer, the liberals will be just a distance memory

Gerri Page

I saved $1.00 and $2.00 bills and now that jackass in Ottawa will make it useless. I paid for that money and next year it becomes just pieces of paper. It is souvenirs of the past like antiques. What next is he going to do to us? He has to go for the sake of Canada and the fools had better wisen up and not vote him back again or kiss our country good-bye.


I hope the Vancouver real estate magnates can get their hockey bags full of cash redeemed dollar for dollar.


This action is about cultural erasure which is what this Canada hating globalist Liberal elites have been promoting since 2015. It is an obsession of this wretched cabal to ensure that their post nation state policies are firmly entrenched making it difficult if not impossible for any subsequent government to return to the sovereignty of Canada in any meaningful way.

Eleanor Merkus

Total control is what they are aiming for…scandalous to say the least. These guys will stop at nothing! So crooked!!


This will eventually force us to use computers or smart phones for transactions. The Government could then monitor our spending which would quickly evolve to purchases being limited or controlled. For example, Tesla donates a few million to Trudeau and the Liberals. Within weeks, Tesla cars would be made the preferred vehicle and most others banned or restricted. Known Liberal Party Members would be moved to the head of the line and given Membership discounts. Everyone else would have to go on a waiting list like it happens in Russia. With uncontrolled access to our finances, Trudeau could take as… Read more »

james isnor

Maybe I am uninformed but my most obvious question is why ?


My buried stash!


Bank notes were given in exchange for gold much of which Canada has divested itself from. If promissory exchange were honored at time of issue , as exchange for equivalent grams, there would be some wealthy people. Best to screw over all promises as governments, most often Liberal, are wont to do. Is there any point to basic law when it can all be rewritten at the stroke of a pen by the nefarious players that founding fathers sought so hard semantically to clarify as protection? Same shite, different groups of people oppressed…


I agree Spencer this is another totalitarian move as you say electronic equipment is hacked so easily and all your personal info is taken, plus this is a very expensive convenience, and credit cards more so. I guess our government is getting ready to box Canadians in even more?

Brian Dougan

Beautiful. Real money. Real people. Real governments. Not like today’ s plastic version…plastic money; plastic government; fake “heroes.” Brings back memories. I used some of those bills.


I don’t think the government is doing anything in our best interests.

Doug schuman

Who cares ? Nobody spends these notes at a retail store, anymore, and probably the retailer would accept them ( if recognized) even if “non-tender” status. If you find, or inherit a sack of them, you can still trade em in.
Who care ?? It doesn’t matter !!

Norbert Kausen

That is what the Trudeau liberal government states, BUT, they will NOT be in power!!!

Valerie Clark

Does this make bills with legal tender status removed more valuable as collectibles? Or less valuable?
Anyone know?

Clive Edwards

So the Canada Revenue Agency is going after the tips and birthday cash people have “put under the mattress” for a rainy day. If you’ve been running a “cash only” small business, you may be in trouble if your tax returns don’t match the cash you bring in to exchange. If you are a big time drug dealer, better invest in real estate as soon as you can. British Columbia, in particular, is a good real estate market for laundering your spare cash. I don’t wonder that many if not most tax accountants used to work for the tax department.

Douglas P Connelly

This is just one more way the Canadian government is controlling our lives and making sure it can tax our every transaction

Timothy Hickey

Agenda 21 and the move to a One World Government and currency! Canadians need to make a Declaration of Independence in the next Parliament of Canada, restore our Bank of Canada, back our currency with our own Natural Resources, eliminate all foreign ponzi scheme central banking debt accrued to Canad, reduce our taxes to the lowest rate, flat across the board, and withdraw the power of government from the establishment and transfer it directly to Canadian Citizens and to the Will of a Sovereign and Free Canada! There is but one way to get the job done! Electing 338 Independent… Read more »


Spend that money ASAP! Focus on something worthwhile and go for it while that money is worth something.