Plastic money has taken on new meaning as the Bank of Canada unveiled two new bills that will replace the cotton-paper blend that is currently in circulation.

The new $100 and $50 bills are made from polymer, a synthetic material, which gives the bills a rubbery feel.

The new hundreds will go into circulation in November and the new 50 dollar bills will be issued in March next year.

The initiative was part of the Conservative government's pledge in the 2010 budget to move the country to synthetic bills.

Images on the $100 note recognize breakthroughs in Canadian research including the discovery of insulin and the invention of the pacemaker.

The new $50 note showcases images of the Canadian Coast Guard Ship Amundsen.

Sir Robert Borden, prime minister of Canada between 1911 and 1920, remains on the $100 note in an updated portrait. Two-time prime minister William Lyon Mackenzie King remains on the $50 bill as well.

While their colours will not change, the smaller-denomination notes will have their own unique themes:

  • The $5 note is dedicated to Canada's space program
  • The $10 note will depict Canada's railway lines
  • The $20 note will feature sacrifices made in Canadian conflicts

Twenties, tens and fives should be in circulation by 2013.

The Bank of Canada says the new bills will last longer and as a result save money.

They are also cleaner and will be harder to counterfeit.

The new notes will be printed on polymer produced in Australia and were created in part to battle bogus bill production.

New holographic security areas will be printed on the bills, including one in the shape of a maple leaf. They will also feature raised ink, hidden numbers and metallic images printed on a transparent window.

The bills will be printed on a smooth film developed specifically for bank notes and used in about 30 countries around the world, including New Zealand, Hong Kong and Mexico.

The plastic bills are also said to be recyclable, giving them a smaller environmental footprint than is the case with the current bills, according to the Bank of Canada.

(With files from The Canadian Press and ctv.ca)