I live in Canada, and Walmart in my region has never ordered any $10 bills from the bank right from the get-go in 1994. So Canada was already well
ahead of the game.
I personally think there are possible reasons for Walmart's decision not to order any more $10 bills. Most stores have enacted such policy for quite
some time by now. One or multiple reasons may apply:
1. Cost-saving measure.
Demand for $10 bills have declined significantly since the 1990s (depending on where you are), and as demand goes
down, the cost to order them likely increases. It's just that, by 2014 when the "no $10 bills" policy came into effect in U.S. Walmart, the economy
was pretty bad and by ordering more $5 bills, they may be saving money.
$10 bills were more useful in the 1980s, but by the 1990s, demand for $10 bills had fallen so much and the $5 bills
overshadowed $10 bills in terms of number in circulation. There are also claims that denominations that are exactly double of the lower denomination
are deemed redundant. Canada likely lost the $500 bill after a very short life of two years because of this. It may also be the reason why
half-dollars are no longer minted for general circulation. I think the $5, $20 and $50 are all we really need in circulation.
While the $20 bill may be the most counterfeited denomination in our currency system as of lately, the percentage of
counterfeit $10 bills circulating may be greater than the number of counterfeit $20 bills. Stores giving out $10 bills in change was acceptable in
the 1980s, but now it may be quite risky. If a cashier gave out a $10 bill in someone's change and it is a counterfeit, the store is faced with a
liability, while keeping the $10 bills in the till and sending them to the bank, at least they may get reimbursed for them. With so few $10 bills in
circulation nowadays, the probability of receiving a counterfeit $10 bill in your change may be pretty high.
For what it's worth, where I live (Newfoundland), I have not seen any new $10 bills for going on four years this summer. It makes me wonder if the
last remaining banks that ordered $10 bills decided to discontinue ordering them to save money, and to put more emphasis on the higher demand
With a new $10 bill being released by the Bank of Canada later this year, it would be a very interesting development for sure. If I don't see any of
the new $10 bills by Christmas, it might be safe to say the writing's on the wall for $10 bills in Newfoundland, and the $10 bill will become
half-dollar/U.S. $2 bill scarce.
edit on 4-4-2018 by DarlaFanbridge because: (no reason given)
edit on 4-4-2018 by
DarlaFanbridge because: Additional information
edit on 4-4-2018 by DarlaFanbridge because: Added information