Canadian Tire money
| argent Canadian Tire(French) | |
|---|---|
 5¢, 10¢, 25¢, 50¢, $1, & $2 Canadian Tire coupons | |
| Unit | |
| Symbol | $ |
| Denominations | |
| Banknotes | 5¢, 10¢, 25¢, 50¢,$1&$2 |
| Coins | $1 |
| Demographics | |
| User(s) | Canadian Tirecustomers and other businesses in Canada |
| Issuance | |
| Central bank | Canadian Tire |
| Printer | Canadian Bank Note Company&British American Banknote Company. |
| Mint | Royal Canadian Mint(1 Dollar coin only) |
Canadian Tire money,officiallyCanadian Tire 'money'[1][2]orCTM,is aloyalty programoperated by theCanadianretail chainCanadian Tire Corporation(CTC). It consists of both papercouponsintroduced in 1958 and used in Canadian Tire stores asscrip,and since 2012 in a digital form introduced asCanadian Tire Money Advantage,rebranded in 2018 asTriangle Rewards.Both forms of the loyalty program remain current as of December 2022. Canadian Tire Money has been noted as the most successful loyalty program in Canadian retail history.[3]
Canadian Tire Money is denominated inCanadian dollars.It is earned based on thepre-taxamount of a purchase, excluding labour and shop supplies costs. The initial rate earned was 5% of the eligible purchase price, but it was lowered to 3%, then to 1.4% and now is 0.4%.
When used to pay for merchandise, CTM is considered to be a cash equivalent and may be used to pay for any part of a purchase, including sales taxes. CTM cannot be exchanged for real Canadian currency.
Paper Canadian Tire money coupons
[edit]Paper CTM coupons resemble realbanknotes.The notes are printed on paper similar to whatCanadian currencywas printed on when they were still paper, and were jointly produced by two of the country's long-established security printers,British American Banknote Company(BABN) andCanadian Bank Note Company(CBN).[3]Paper CTM can be earned and redeemed only at Canadian Tire stores, although some other private businesses may choose to accept it as payment.
Paper CTM is earned only when customers pay withcash,debit cards,or Canadian Tire money. No paper CTM is earned on purchases made by credit card.
History
[edit]Canadian Tire Money coupons were introduced in 1958 at CTC's gas bar located at Yonge and Davenport streets inToronto.They were inspired by Muriel Billes, the wife of Canadian Tire's co-founder and first president,Alfred J. Billes,as a response to the promotional giveaways that many gas companies offered at the time. It was only available at Canadian Tire gas bars but was so successful that, in 1961, it was extended to the retail stores as well. Until 1992, there were separate issues of coupons redeemable either at Canadian Tire gas bars, or Canadian Tire retail stores.
Canadian Tire money coupons were issued and redeemable only at Canadian Tire stores inEastern Canadauntil 1995, when the program was launched to all locations nationwide.[4]
Since 1961, the coupons have featured an engraving of "Sandy McTire", who sports atam o' shanterand a stylized waxed moustache. A fictional character based on no specific individual, he is assumed to represent a thrifty Scotsman, the 1950severymanof blue-collar Canada.
Denominations
[edit]CTM coupons are currently produced in denominations of 5, 10, 25, and 50 cents, as well as one and two dollars.
| Denomination | First issued | Last issued | Note |
|---|---|---|---|
| 1¢ | 1962 | 1962 | |
| 2¢ | 1962 | 1962 | |
| 3¢ | 1962 | 1976 | A small quantity was issued in 1991 |
| 4¢ | 1962 | 1962 | |
| 5¢ | 1958 | currently issued | |
| 10¢ | 1958 | currently issued | A commemorative 10 cent note was released by the company between June 30 and July 2, 2017, to celebrate the150th anniversaryof theConfederation of Canadain 1867 as part of national festivities.[6] |
| 15¢ | 1962 | 1962 | |
| 20¢ | 1962 | 1962 | |
| 25¢ | 1958 | currently issued | |
| 30¢ | 1962 | 1962 | |
| 35¢ | 1962 | 1962 | |
| 40¢ | 1962 | 1962 | |
| 45¢ | 1962 | 1962 | |
| 50¢ | 1958 | currently issued | |
| 60¢ | 1962 | 1962 | |
| $1 | 1958 | currently issued | |
| $2 | 1989 | currently issued | |
| $100 | 2022 | 2022 | 95 were issued as part of a social media promotion celebrating the 100th anniversary of Canadian Tire.[7] |
Usage beyond Canadian Tire
[edit]- In late 2004 inMoncton,New Brunswick,several customers at aCanadian Imperial Bank of CommerceATMwere dispensed a total of 11 bills of Canadian Tire money instead of real bills. They were compensated by the bank.[8]
- Culturally, Canadian Tire money is sometimes referred to by comedians: perhaps as a national version of "Monopoly money", perhaps invoking a pejorative comparison of the value of Canadian dollars against U.S. dollars, or perhaps as a misunderstood exotic element of Canadian society (e.g.Ron James's comedic reference to the person depicted on the bill as "our king" ). In the 2009Trailer Park BoysmovieCountdown to Liquor Day,Jim Lahey offers Julian $700 in Canadian Tire money for his trailer.
- In the mid-1990s, a man in Germany was caught with up to $11 million in counterfeit Canadian Tire money. It was recovered before he left for Canada to redeem it.[9]
- In 2012, musicianCorin Raymondfunded his albumPaper Nickelspartially through a fundraising campaign inviting fans to donate their unused Canadian Tire money.[10]
Coins
[edit]On December 2, 2009, as part of an advertised deal, Canadian Tire had handed out the first Canadian Tire coin, redeemable with the purchase of at least$40of merchandise. Another similar deal followed in 2010 (coinciding with the2010 Olympic Winter Games), with a three-coin winter collection. The coins can be spent in the same manner as conventional CTM.
Electronic Canadian Tire money
[edit]A digital version of Canadian Tire Money was introduced in 2012 asCanadian Tire Money Advantage,which was earned by presenting a loyalty card.[11]This was expanded in 2014 to holders of the Options credit card issued byCanadian Tire Financial Services(CTFS).[12]
In April 2018, Canadian Tire Money Advantage program was replaced with theTriangle Rewardsloyalty program for the earning of digital Canadian Tire Money ( "eCTM" ).[13]The Triangle Rewards program expanded the earning and redemption of eCTM from Canadian Tire stores to the rest of Canadian Tire Corporation's family of stores, includingMark's,Sport Chek,Sports Experts,PartSource,and the Canadian operations ofParty City.
Unlike with paper Canadian Tire money, eCTM can be earned on purchases paid for with acredit card.Extra eCTMs is earned when paying with a Triangle credit card issued by CTFS.
See also
[edit]
References
[edit]- ^"Collecting & Redeeming Canadian Tire Money®".Canadian Tire.RetrievedJuly 7,2021.
- ^"Triangle Rewards FAQ".Canadian Tire.RetrievedJuly 7,2021.
- ^ab"Canadian Tire Scrip", Numismatist Magazine, Harold Don Allen, p.64, Volume 119, Number 12, December 2006
- ^Kane, Michael (6 November 1995). "Money Matters".Vancouver Sun.p. D8.
- ^"Canada's Other Official Currency, 1958 To Date"(PDF).Canadian Tire Coupon Collectors Club.Retrieved16 December2022.
- ^"Canadian Tire Money Gets a Patriotic Redesign for Canada 150".Huffington Post.Archived fromthe originalon June 28, 2017.RetrievedJuly 4,2017.
- ^"Canadian Tire offers $100 bills for its 100th birthday".CTV News.22 September 2022.Retrieved16 December2022.
- ^"ATM gives customers Canadian Tire money".CBCNews. 1 December 2004.Retrieved9 January2014.
- ^Montgomery, Shannon (2006-12-21)."Liquor store rakes in Canadian Tire Money".Archived fromthe originalon 2018-10-05.Retrieved2019-10-07.
- ^"Corin Raymond paid for new album with stacks of Canadian Tire money".Toronto Star,January 21, 2013.
- ^"Canadian Tire 'Money' Goes Electronic in Pilot Program".Tire Review.16 February 2012.Retrieved16 December2022.
- ^"About Us".Canadian Tire Bank.Retrieved16 December2022.
- ^Cazzin, Julie (9 April 2018)."What Canadian Tire's loyalty changes mean to you".MoneySense.Retrieved9 April2018.
External links
[edit]- Canadian Tire 'Money' - Select 1958 expand dash symbol— History, on the Canadian Tire website.