A multinational substrate manufacturer and supplier of polymer to 24 countries for making banknotes has stated that Costa Rica will soon be releasing polymer money. On 12th June, the treasurer of Costa Rica’s central bank had revealed the same at a high-security printing conference in the Dominican Republic.
CCL’s Guardian material was used to produce Costa Rica’s 1,000-colón polymer note in 2011. The Central Bank’s treasurer said that the decision has been taken as Costa Rica’s cotton-based notes are counterfeited on a large scale, while the polymer one is more secure.
Apart from that, polymer notes are favourable in the humid climatic conditions of Costa Rica as they are far more resistant to water than cotton and are also completely recyclable. Polymer notes are also four times more durable than cotton notes. It is estimated that the Central Bank has saved almost $15 million after the release of the 1,000-colon polymer note.
Image Courtesy: CCL Secure