11/05/2012 02:16 EST | Updated 01/23/2014 06:58 EST

New Plastic $20 Bills: Bank Of Canada Releases New Polymer Bill On Wednesday (VIDEO)

OTTAWA - On Wednesday, the Bank of Canada will begin circulating a new $20 bill made of polymer instead of paper.

The new bill pays tribute to the contributions and sacrifices of Canadian men and women in all military conflicts and is being released just before Remembrance Day.

The note features a view of the Canadian National Vimy Memorial on its back.

The bill will be formally introduced in a ceremony at the Canadian War Museum in Ottawa by Bank of Canada Governor Mark Carney, Finance Minister Jim Flaherty and Veterans Affairs Minister Steven Blaney.

The $20 is the country's mostly widely used bank note.

The Bank of Canada began issuing polymer money a year ago with a new $100 bill, followed by a $50 note in March.

New $5 and $10 notes are scheduled to be issued by the end of 2013.

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