The strange lack of new prefixes so far in 2025

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I have noticed something very interesting lately.  On the SNDB, in the section that lists new prefixes reported in the last six months, there was nothing new reported in 2025, and unless something new is reported by June 23, that section on the SNDB will be empty for the first time since the database was launched - come June 24.

But I wonder what could be causing the lack of new prefixes so far this year?  Could it be because the vast majority of Journey notes are fully replaced across the country (that could explain the drastically small number of Rogers-Macklem $100s reported so far, and maybe all of the older $50s are fully replaced now), and/or could it be because, due to the trend of closing down bank branches across the country plus much lower demand for physical currency, the older notes that are sent back are not being replaced and are instead being written off?

I can sense that, by the end of the decade, bank branches will only be prevalent in urban locations.

Regarding prefixes that are new to Newfoundland (where I live), I have discovered several FZA $20s in the 5-million range lately.  So maybe they're finally releasing the FZ* prefixes in my province after going through the FY* run at a snail's pace, and I am afraid that, when the King Charles $20s gets released, my province may still see fresh $20s with the Queen on them for many, many years afterwards.

Physical cash will eventually disappear. Of course the pandemic helped to accelerate this, the trend continues that there is and less cash being used daily as we are going more and more digital. Even Canadian Tire stopped their physical currency and went digital five years ago.

I agree.  Especially since I did read articles that mention something about the Bank of Canada in the process of developing digital currency, and I believe I read that the Bank of Canada's Deputy Governor Carolyn Rogers is likely working on it.

Another article suggested that digital currency was one of Pierre Poilievre's goals if he was to be elected - and maybe Mark likes his idea.

Imagine if digital currency was to become the new format down the road.  It would mean no more new serial number prefixes to look forward to.

I'd say, if digital currency becomes reality, I think the Bank of Canada will likely allow the banks branches a certain amount of time - enough time, at that - to clear out as much of the existing inventory of unreleased banknotes - it will likely not be a complete recall in one swoop.

And it could be possible that the new $20 with King Charles on it, and eventually a new $5 with Terry Fox on it, may end up having a short life - possibly as short as the Frontiers $10 note.

Now, one other possibility came to my mind.  In order to combat inflation, could it be possible that the Bank of Canada's years-long printing spree may be suspended for a while?

I believe there is only $100 HJJ, and the $20s with FLB through FLH, yet to be issued of the last printed banknotes (I suspect that range of $20s may likely be Rogers-Macklem).  I suspect that the first printing of Rogers-Macklem $100s is likely a very short run covering HJH through HJM, otherwise I would have heard tell of HJN and beyond by now.

Well, it looks like the recently reported prefixes table is empty as of today.  This is definitely a first for the SNDB.

I am also wondering one other thing too.  Does anybody suppose the lack of new prefixes so far this year could be due to cooling inflation this year, or could it be due to a realization that many banks have an outstanding inventory of unreleased Lane-Macklem notes and even Carolyn Wilkins-era banknotes? In fact, in Newfoundland, where I live, any new banknotes I see are strictly Wilkins-Poloz notes.  And when banknotes are being trickled out, it likely means they're likely mixing them in with recycled banknotes.

Or, could the tariff wars between Canada and the U.S. be another reason, even though there are reports of 2025 minted coins being issued now.

But either way, regarding $5 notes, I don't see very many $5s in the HB* series, though strangely enough I did receive an HBK in my change not very long ago, and HBK was part of the initial supply of Frontiers $5 notes.  But I see many $5s in the range of around HCG through INJ mostly.  I am concerned if any $5s of the first batch of Rogers-Macklem series will ever see the light of day in Newfoundland, especially after I discovered two fresh Desmond $10s with FFN and FFU in my change in recent weeks.  As much as I like $10 notes, I certainly hope the older $5 notes in my province are not in the process of being replaced by $10 notes.

Either way, I am thinking that 2025 is going to be a pretty dry year for new serial number prefixes.  If we go through 2025 with no new prefixes reported, it will be a first time in history.

As they always say, there's a first time for everything.

Last year (last fall?) we were down to a single new prefix in the SNDB that was getting close to dropping off the list, and then within a short time there were a few new ones reported. So I think it's too early to rule-out any new prefixes showing up for the next six months.

But yeah, take your pick for the causes of the slowdown. On top of the migration away from cash that's been ongoing (sadly) for three decades, there are now tariffs and trade wars, actual wars, inflation and ballooning costs of living, and a lot of uncertainty everywhere. Everyone I know is cutting way back.

That and I think you're absolutely right about stockpiles of certain signatures and prefixes still yet to be released. Only the $5s seem to be broadly released and reported; the other denominations, not so much. How many of the Lane/Macklem $20s will they be still sitting on when the King Charles $20s come out?

After discovering FZY finally added to the database a few weeks ago, it got me wondering if the lack of new prefixes this year so far could be due to the older non-Polymer banknotes being nearly fully replaced nationwide?

I wonder if the newest batch of $5 notes got released only to provinces because the $2 coin in those provinces had started to decline in demand, and the $2 coins that were not needed anymore were replaced by $5 notes?  I still have not seen any of the newest $5 notes in Newfoundland yet, though one user in Nova Scotia did see a sufficient amount of INTs.  It could be possible that there may not be any more unnecessary $2 coins to replace, and the number of $2 coins in my province is "just right", and the decline in demand may be hitting other provinces now.

I also discovered that, for the first time in years, 2025 could be a dry year for new $100 prefixes - I believe HJJ is the only known outstanding $100 prefix yet to be seen in Canada.

I also suspect that FLH for the Lane-Macklem $20s was likely a typo on a certain user's part.  I have strong doubts that FLB through FLH was part of the Lane-Macklem range, otherwise there would have been some reported to the SNDB by now.

FLA seems more plausible as the last prefix for the L-M notes.

Last year (last fall?) we were down to a single new prefix in the SNDB that was getting close to dropping off the list, ..
But yeah, take your pick for the causes of the slowdown. On top of the migration away from cash that's been ongoing (sadly) for three decades, there are now tariffs and trade wars, actual wars, inflation and ballooning costs of living, and a lot of uncertainty everywhere. Everyone I know is cutting way back      ....

+1
Here, in Ontario, after doors/walls were plastered with BTCA* posters urging customers to choose Debit/Credit (over cash) during COVID (to stop its spread**), this should be no surprise.  Retailers chopped thousands of cashier jobs in favour of automated check-outs. 8 out of 10 of these only take cards (no cash) so businesses (with the support of the BTCA) have helped fast-track us into a cashless society. Seems like the BTCA won't be satisfied until "cash is a thing of the past" & ironically they'll be put to pastures since they will no longer need to fight cash use. 
*BTCA (Better Than Cash Alliance is a UN sponsored lobby group with support from VISA, & billionaires)
**Although BTCA COVID posters claimed cash was a vector, it was later scientifically proven that COVID was an air borne virus & not transmitted through cash use.
Banks have been charged money to order new bundles of banknotes so they don't cull crap/ruined polymer like they did with the paper. They just keep using the old stuff so new notes have sat in the vaults. It will be like this moving forward (& banks are much more concerned with laying off staff right now).

+1
Here, in Ontario, after doors/walls were plastered with BTCA* posters urging customers to choose Debit/Credit (over cash) during COVID (to stop its spread**), this should be no surprise.  Retailers chopped thousands of cashier jobs in favour of automated check-outs. 8 out of 10 of these only take cards (no cash) so businesses (with the support of the BTCA) have helped fast-track us into a cashless society. Seems like the BTCA won't be satisfied until "cash is a thing of the past" & ironically they'll be put to pastures since they will no longer need to fight cash use. 
*BTCA (Better Than Cash Alliance is a UN sponsored lobby group with support from VISA, & billionaires)
**Although BTCA COVID posters claimed cash was a vector, it was later scientifically proven that COVID was an air borne virus & not transmitted through cash use.
Banks have been charged money to order new bundles of banknotes so they don't cull crap/ruined polymer like they did with the paper. They just keep using the old stuff so new notes have sat in the vaults. It will be like this moving forward (& banks are much more concerned with laying off staff right now).

Oh my, I'd never heard of BTCA–that's just evil. I was working in a small restaurant in 1986 when we got our first manual credit card slider, and the owner lamented the impending fees he would have to pay, and said that "they" wanted us all paying with cards so they could track and tax everything. I thought he was a paranoid old man, but his fears turned out to be prescient.

Isn't it sad that many of the same types who want us to do away with cash, which is perfectly useful, are also now pushing crypto, which is basically a novelty that no one really needs? A few months ago the newspapers ran stories of the ~$93M one particularly petulant leader has made so far by selling his own memecoin.

Oh my, I'd never heard of BTCA–that's just evil.

When I first heard about the BTCA, my first thought, this can't be true. Why would any lobby group want to be rid of cash?  It just didn't make sense to me (at the time).  Their site was very small & I think they were about 20 members (now they're 80).  Then I saw a few videos on Youtube & realized no, these guys are serious! And then all the pro-Crypto people were knocking cash next (as worthless "fiat" currency).

What used to tick me off was when the BTCA claimed large denominations were conducive to criminal activity or that getting rid of cash would help empower women (blah, blah, blah).  Too much self-serving propaganda!

I was working in a small restaurant in 1986 when we got our first manual credit card slider, and the owner lamented the impending fees he would have to pay, and said that "they" wanted us all paying with cards so they could track and tax everything.

Those credit card sliders were brutal. I was 16 & very uncoordinated so when I first had to use those contraptions I often wrecked the invoice slips (annoying my boss).

Isn't it sad that many of the same types who want us to do away with cash, which is perfectly useful, are also now pushing crypto, which is basically a novelty that no one really needs? A few months ago the newspapers ran stories of the ~$93M one particularly petulant leader has made so far by selling his own memecoin.

Sad indeed! I wonder who that "petulant leader" could be?! 

Here's a good read on how crazy this new (very successful) agenda is (although its 10 years old & perhaps a bit melodramatic):
https://www.moneymetals.com/news/2015/06/03/better-than-cash-alliance-000716

I just discovered on the SNDB that a new $10 prefix was recently reported: FFZ.  I am thinking this is from the second supply of $10s in the Rogers-Macklem series.

It makes me wonder if demand for $5s have reached its peak and there is a new demand for $10s now that started in one or two provinces and is now spreading across the nation due to inflation and the higher cost of living?

It will be interesting to see if denominational letter "G" will soon appear on our banknotes for the first time in 30 years, though I feel very skeptical due to sensitive prefixes.

I wonder if all of the Rogers-Macklem $5s - prefixes INS through INZ - have been fully distributed?  If it has, it's too bad my province, Newfoundland and Labrador, will be left out - possibly due to a new demand for $10s.

I have noticed a trend in recent years: British Columbia seems to be the first province to see the new set of prefixes after being printed.  It happened with the HJ* $100s (though HJB and HJD came late, and were first seen in Ontario), and then the Lane-Macklem $20s - and even still, many new prefixes in this batch of $20s had only one prefix reported to this day, and they were reported a long time ago.

I also realize that there have been no new $50 prefixes for a few years now.  There were Rogers-Macklem $100s with HJH through HJM (only HJJ hasn't been seen yet), and that is only three full-run prefixes (I am thinking HJM is likely a transitional prefix) - could this imply that the vast majority of paper $50s and $100s are fully replaced now?

It makes me wonder if demand for $5s have reached its peak and there is a new demand for $10s now that started in one or two provinces and is now spreading across the nation due to inflation and the higher cost of living?

I wonder if all of the Rogers-Macklem $5s - prefixes INS through INZ - have been fully distributed?  If it has, it's too bad my province, Newfoundland and Labrador, will be left out - possibly due to a new demand for $10s.

My bank (Scotiabank) has been switching the $5 slot and replacing it with $10 bill for withdraw options where I live (Toronto). I believe due to inflation people are starting to use the $10 bill more instead of the $5 bill. I remember a few years back 2021-2022 when I paid with cash and I would expect to get a $10 bill back in my change but instead I would get 2x $5 bill in my change but now that it's becoming 2024-2025 and options for $10 denomination in bank atm with my bank (Scotiabank) I will say new Rogers-Macklem $10s will appear more as time goes by. One thing I would like to note out is I went to the bank to withdraw some $10s and I found a fresh sequence notes FFJ Wilkins-Macklem $10s and I was surprised considering it was kept in storage for 3-4 years and was recently released.

I checked the SNDB Raw Query data for Rogers-Macklem prefixes through INS-INZ and here's what I can say about it

Disclaimer: Some serial number range could be inaccurate and may be in circulation but SNDB data does not show any user entry within these ranges

INS (3969000-9999999)

Serial Number not released (according to SNDB data)

3969000 to 4914000
6616000 to 7161000

INT (0000001-9999999)

All serial number are released

INU (0000001-9999999)

All serial number are released

INV (0000001-9999999)

Serial Number not released (according to SNDB data)

0940000-1400000
4150000-4550999
5780000-6160000
6575000-7049999
8000000-8374999
9730000-9999999

INW (0000001-9999999)

Serial Number not released (according to SNDB data)

0000001-0020000
1000000-2000000 (lack of entry only 6 reported within these range)
5440000-6100000
7820000-9190000
9738000-9999999

INY (0000001-9999999)

Serial Number not released (according to SNDB data)

0000001-0090000
0580000-0930000
2150000-2839999
3373000-3670000
4440000-4720000
6820000-7740000
7800000-9540000

INZ (0000001-9999999)

Serial Number not released (according to SNDB data)

0420000-0650000
0855000-1430000
3490000-5680000
5700000-7500000
7530000-8100000
9200000-9999999

So approximately 73% of Rogers-Macklem $5s are in circulation (INS-INZ). If more people added their banknotes into the Serial Number Database then it would be more accurate

Do realize that most or all of the remaining 27% of the numbers may be skipped number ranges. It's been a practice by the Bank of Canada since replacement notes were discontinued.

In either event, it is now known that INT and INU are likely not coming to Newfoundland, otherwise I would have seen some by now.

I agree that there is a lack of new prefixes for the banknotes. In the last month, I have seen only a couple of FZZ $20 banknotes but I have yet to see a FLx series banknotes.  Same for the $5 banknotes, I have plenty of INZ's in my possession but I suspect that the IOA will be the new series with Terry Fox, my speculation. I have attached as an image of the the FZZ found in August 2025.  If anyone wants the latest prefixes for the $5 or $20 or $10, please let me know as Ottawa Valley/Montreal gets all of the new prefixes.
Best regards, Whitenite

I also remember going to the Scotiabank ATM in St. John's, Newfoundland back in May, and did receive a couple of consecutive-numbered $100s, but they were EKP - a prefix that was lingering in the vault for many, many years.  In August last year, I received consecutive GKFs.  I am thinking they may have depleted their supply of Wilkins/Poloz $100s, and instead of ordering new $100s they're releasing unissued $100s that were delivered to the bank over a decade ago that have been sitting in the vaults all this time. Also, the bank reduced their Friday hours to be consistent with Monday through Thursday - they are open from 10 to 2 every weekday now. I think the bank branch is slowly issuing what's left in the vaults, possibly releasing new bills once per year now, and this could be a tell-tale sign that the branch may be a candidate for closing down in the foreseeable future.

I think, once the bank runs out of new unreleased $20s, the bank branch will probably be getting ready to close for good. Rural branches are currently being impacted, and after that small branches in urban areas will be next.