Paper Money

New 10-cent note issued in Canada by tire company

Since it was introduced in 1958, Canadian Tire Money has sometimes been called “Canada’s second currency.” They are actually from the Canadian Tire company’s cash loyalty program, but they have become a form of private scrip in its stores and a popular collectible. 

Not to be outdone by the Bank of Canada’s efforts to commemorate the nation’s sesquicentennial with a $10 note, the company released its own “Canada 150” note on June 30. Bearing a face value of 10 cents, the new issue was being given away, one per customer, at all the company’s stores for three days while supplies lasted. A total of 2 million notes were printed. On July 1, they were being offered on eBay at a range of prices starting at $3.07.

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The commemorative note is significantly different from the normal ones and arguably more attractive. The same portrait of the fictive Sandy McTire in his tam o’shanter is less prominently featured than on the regular issues. The note is primarily red and gold, with maple leaves festooned over a mountainous landscape. It includes some of the same security features as real currency, with gold foil elements and a visible watermark.

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The company calls its currency “cash bonus coupons.” They exist today in denominations of 5 cents, 10 cents, 25 cents, 50 cents, $1, and $2. All are printed by the Canadian Bank Note Co. A $1 token also exists. 

The company says that over $1 billion in Canadian Tire Money has been put into circulation since its inception. The company went to a digital currency in 2014, but paper versions, it says, are still in circulation.

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