April 2, 2002

B.C. island's own currency not easy to forge. Saltspring's cash boasts the latest in anti-counterfeit features, maker says

Adrian Humphreys, National Post

Saltspring Island bills include embedded images for extra security. One bill will feature the work of artist Robert Bateman.

In issuing its own currency, designed as a gimmick to boost tourism and raise money, the residents of an eclectic West Coast community have released what may be the most secure bank notes on the planet.

Talk about the new currency with artists and artisans on Saltspring Island, a lush spot off the coast of Vancouver Island that relishes its off-the-beaten-track reputation, and they will brag about the artwork; locally-produced paintings are featured on each bill -- including a work by Robert Bateman, the famed Canadian wildlife artist and island resident, on the $100.

Among island community activists, there is considerable expectation for the social benefits the effort may bring, with profits earmarked for environmentally friendly transit and sustainable agricultural projects.

Off of the island, however, there is excitement of a different type.

"Stack for stack, bill for bill, this is the most secure bill in the world," said Andrew McTaggart, managing director of AdlerTech International, a Canadian firm that put its cutting-edge security features into the Saltspring Island currency.

"We've made a bill that is impervious to counterfeiting and an absolute set of authenticating methods that cannot be fooled," he said. "This is more secure than the new notes coming out right now from the Bank of Canada."

The irony of a community symbolic of a quieter lifestyle -- where many go as a retreat from the rat race - issuing bills designed to foil sophisticated forgers and high-tech felons does not escape Mr. McTaggart, who is based in Toronto.

"It's a beautiful place but it's the Left Coast for sure," he said.

Just 27 kilometres long and nine wide, Saltspring Island houses 10,000 permanent residents -- many of them artists and artisans -- but swells dramatically to accommodate 250,000 visitors during the tourist season.

The idea of a private currency came more than a year ago as island residents searched for ways to use the
tourist influx to raise money and protect the island.

Banks, stores and a special automated teller machine on the island are currently issuing the currency in denominations of $1, $2, $5, $10 and $20. The large denomination bills, the $50 and $100, will be released this summer.

The $100 Bateman bill is expected to be in particular demand by art and currency collectors.

It is that anticipated demand that prompted the usually laid-back islanders to seek out AdlerTech.

"Their technology is the best in the world and they're Canadian. That was important to us," said Mr. McGinn.

Mr. McTaggart believes that its latest creation, called the Halo system, cannot be beat by today's forgers.

Halo embeds multiple layers of images that are visible only when a clear plastic card, about the size of a
thick credit card, is placed over top.

The Bank of Canada, producer of all Canada's bank notes, is not prepared to confirm or deny Mr.
McTaggart's claims that the island cash is more secure than the new line of Canadian bills.

 ahumphreys@nationalpost.com