We have seen the changes of 5, 10 and 50 dollar notes and you would think that the old notes would slowly disappear with the introduction of the newer notes. I am starting to see less of the older 5, 10 dollar notes and there is a good mix of the old and new 50 dollar notes. I have received some UNC 2014 50 dollar notes a few months ago. Ok maybe not that old.
Today I pulled 20 dollar notes from an ATM machine dated 2008 (!) which makes it a good decade!
This makes me wonder - where have they been hiding all the time?
Some of the time I guess the Reserve Bank will speculatively order banknotes (I assume they predict how many will be needed and don't always get it right). I guess they sit on the notes until they need them.