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    Collage, photo of wild west street, old bank notes, old counterfeiting brochure.

    Security is in the bank note

    Security printing is a game of anticipating and responding to criminal threats. Counterfeiting is a game of anticipating and responding to bank note design. This cat and mouse relationship affects every aspect of a bank note.

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    Needs or wants? That is the question!

    Do you need it, or do you want it? That’s an important question to ask before buying anything. This activity is designed to teach kids how to prioritize their needs and wants, and how to make informed choices when shopping.

    Price check: Inflation in Canada

    All about inflation: what it is, what it means and how it's measured. Students will learn how the consumer price index is calculated and create their own student price index to measure the prices that matter most to them.

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The Devil is in the Hairdo

By: Graham Iddon


October 31, 2018

The 1954 note series

Have you ever seen eyes in the bark of trees? Wolves in the clouds? Faces watching you from the abstract patterns of your mother’s bedroom drapes? Although this is a Hallowe’en blog, I’m not talking about anything supernatural, here; I’m talking about shapes that can sometimes be seen in otherwise random images or patterns—such as in the design of a bank note, for instance.

Commemorative centennial $1 bank note from the 1954 series

You will find nothing unusual in this centennial commemorative version of the 1954 series, but in earlier versions… $1, Canada, 1967, NCC.1967.010.001

When the Bank of Canada creates a new bank note, one important step researchers take is to ask a focus group to have a really good look at a model of the new note. A fresh perspective is crucial here to find any unintended shapes in the imagery. If anything appears to protrude from a portrait subject’s ear, or if there are faces in the background patterns, it’s best that such things are pointed out before the note has been issued. Because it wouldn’t be the first time a curious shape has appeared on a bank note.

a colourful grid of eight bank notes, each featuring an image of a Canadian region

The vignettes of the 1954 series feature images from every major region of Canada.

As Canada headed confidently into the 1950s, it did so with new, modern, nationalistic bank notes designed by Canadian war artist Charles Comfort. A gorgeous landscape engraving filled the back of each note while our brand-new sovereign, Elizabeth II, was the star feature on the front of all eight denominations. Celebrated Canadian photographer Yousuf Karsh took an official portrait of Elizabeth. She was then beautifully reproduced by master engraver George Gundersen of the British American Bank Note Company. The new bank notes were elegant and very Canadian.

black and white image of bank note engraver George Gundersen at work

George Gundersen, engraver and art director of the British American Bank Note Co., would go on to engrave three of the five portraits of the 1969–76 series. Bank of Canada Archives POS-003561

black and white portrait of Elizabeth in a tiara, 1951

The original Karsh portrait of Princess Elizabeth was retouched to remove her tiara for the bank note. Yousuf Karsh NCC.1993.056,146

However, there was something not quite right about the engraving of the Queen; something perhaps a little sinister. Reports began surfacing of people seeing shapes in her hair—specifically the face of the Devil! In 1956, a British politician named H. L. Hogg wrote a scathing letter to the High Commissioner for Canada in the United Kingdom:

“The Devil’s face is so perfect that for the life of me I cannot think it is there other than by the fiendish design of the artist who is responsible for the drawing or the engraver who made the plate…I enclose an envelope for the return of the note but I would be better pleased if you told me you had burned it.”

a Canadian $100 bank note from 1955 with detail showing the Devil’s face in the Queen’s hair

A “Devil’s Head” $100 bank note, circa 1955. The face has been enhanced slightly to make it clearer. $100, circa 1955, Canada, NCC.1987.030.002

References to the Devil’s head popped up now and again in the Canadian media from 1956 until as late as 1959. A prominent member of the coin collecting community claimed the face in the Queen’s hair was “no accident” and that, “those responsible might be trying to put across a subtle message to the public.” A number of newspapers picked up this story, spreading the idea that an insider had infiltrated the bank note printing firms. By that time, true or not, such comments would certainly have upped the interest of any “Devil’s Head” notes on the collector’s market.

All conspiracies of fiendish engravers aside, the Bank moved quickly to have the security printing companies deal with the issue. Engraver Yves Baril darkened the highlights in the Gundersen engraving and, after 1957, the series was entirely free of questionable images or of any faces but that of the Queen.

With no diabolical intention, Gundersen had actually done a remarkable job of reproducing the Karsh photograph as an engraving. The problem was that he was too good. If you take a good look at the Karsh photo and squint your eyes a bit, you can just discern above the Royal left ear some contours of hair that do resemble a face—these contours are then made clearer and arguably more demonic by the fine-lined, high-contrast etching of the engraver’s art.

an engraving of the Queen and the photograph it was reproduced from

The Karsh photo is on the left; the Gundersen engraving is on the right.

It would seem that Mr. Hogg should have directed his wrath not at the talented Mr. Gundersen, but at the Royal hairdresser. Unless, of course, there was a dark conspiracy involving the hairdresser, the photographer and the engraver…let me check online. Happy Hallowe’en.

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Content type(s): Blog posts

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December 22, 2021

New acquisitions–2021 edition

By: David Bergeron


The Bank of Canada Museum is responsible for the National Currency Collection, and part of its mandate is to foster and develop that collection. Despite the challenges of collecting during a pandemic, curators at the Bank of Canada Museum have acquired some unique artifacts—including some that document the pandemic itself.
Content type(s): Blog posts
December 2, 2021

The true value of money

By: Graham Iddon


Photo collage, old bank notes and coins, gold nuggets and a computer component.
What is money—when you really stop to think about it? To understand how money works, and what it ultimately represents, we need to strip it down to its very basic function.
Content type(s): Blog posts Subject(s): Economy Grade level(s): Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
November 16, 2021

The 1911 silver dollar

By: David Bergeron


In front of a set of coins in a case, two coins, one lead, one silver, each with identical wreaths of maple leaves.
The 1911 silver dollar has a history to match its prestige, and it now has a permanent home in the National Currency Collection of the Bank of Canada Museum.
Content type(s): Blog posts
October 21, 2021

Moving mountains

By: Graham Iddon


Collage, bank note details, green, face of middle-aged woman, mountains and large number 20.
The $20 bill of 1969 was the prototype of the Scenes of Canada note series. Yet, as more notes were designed, the theme—and the $20 note itself—would change.
Content type(s): Blog posts
September 16, 2021

A mythic metal: Some stories of gold coins

By: Krista Broeckx


In 1896, three enterprising men struck gold in the Klondike region of the Yukon. Their story is just one of many that illustrates the allure of gold through the ages.
Content type(s): Blog posts
September 2, 2021

Virtual Worlds. Real Economies.

By: Adam Young


A cartoon astronaut waves in front of a logo of the game.
The economies in modern, complex video games can teach gamers a lot about decision making and financial literacy.
Content type(s): Blog posts Subject(s): Economy, Social studies Grade level(s): Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
August 19, 2021

Fur Trade Economics

By: David Bergeron, Graham Iddon, Krista Broeckx


Photo collage, yellowed document with writing, tokens, carved stick, silver beaver trinket.
Over its 350-year lifespan, the Hudson’s Bay Company has had an enormous impact on Canada’s economy and how the nation was settled.
Content type(s): Blog posts Subject(s): Economy, History, Social studies Grade level(s): Grade 05, Grade 06, Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
June 30, 2021

The house the Bank of Canada built

By: Graham Iddon


Building, old, square, stone building surrounded by 2 glass towers.
The Bank of Canada head office is two structures: the stone cube on Wellington Street and the glass structure that it is nestled into. Both are significant architectural landmarks.
Content type(s): Blog posts
June 3, 2021

Value is in the Eye of the Consumer

By: Graham Iddon


Collage, money, graphs and people playing with hula hoops.
Supply and demand is part of the very bedrock of an economy. It's what generates the price of any product or service.
Content type(s): Blog posts Subject(s): Economy, Financial literacy, Social studies Grade level(s): Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
April 30, 2021

Mishap on the dollar

By: Graham Iddon


Bank note engraving, green, logs and 2 boats on a river in front of a tree-covered hill with towers.
An image of a river of logs floating behind Parliament Hill has long lived in Canadian collective memory thanks to a bank note, the Scenes of Canada $1 bill.
Content type(s): Blog posts
March 23, 2021

The Last Smokestack

By: Graham Iddon


Bank note engraving, purple, a large, highly detailed factory complex of pipes, tanks and chimneys.
Putting an industrial facility on a bank note is not a casual decision. At the end of the 1960s, such places were earning a bad reputation for pollution. There was actually a good reason for this choice, but it wasn’t obvious to many Canadians.
Content type(s): Blog posts
February 26, 2021

Playing with Economy

By: Graham Iddon


A diverse group of 4 young children playing a board game.
There might be only a handful of basic game formats, but there is an infinity of variations—a surprising number of which require the skills we need to manage our daily economic lives.
Content type(s): Blog posts Subject(s): Economy, Financial literacy, Math, Social studies Grade level(s): Grade 03, Grade 04, Grade 05, Grade 06, Grade 07 / Secondary 1, Grade 08 / Secondary 2, Grade 09 / Secondary 3, Grade 10 / Secondary 4, Grades 11 and 12 / Secondary 5 and CEGEP
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