The saying "printing money" loses impact

The $1,000 bill, nicknamed a “pinkie” for its reddish-purple hue, will no longer be accepted as legal tender in Canada pending the introduction of legislative changes.   The Bank of Canada will still accept the bills for an exchange.The decision was made as part of a plan to crack down on counterfeiting, money laundering and tax evasion, meaning the government will eventually not allow those bills to be used to pay for goods and services.

Only 500 were ever printed

The $1,000 bill is accompanied by the $500, the $25, the $2 bill and the $1. which all had ceased to be printed, but could still be used.The legacy $1000 bills  will no longer be usable in day-to-day transactions, although banks will accept them at full value, the Bank of Canada says.

 The Bank of Canada last count of bills in circulation, is as follows:

    $1 bill: 151,614,000

    $2 bill: 104,232,000

    $25 bill: 1,840

    $500 bill: 40

    $1,000 bill: 741,638