Paper CTM coupons resemble real
banknotes. The notes are printed on paper similar to what
Canadian currency was 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) and
Canadian Bank Note Company (CBN). Paper CTM could be earned and redeemed only at Canadian Tire stores, although some other private businesses may choose to accept it as payment. Paper CTM was earned only when customers pay with
cash,
debit cards, or Canadian Tire money. No paper CTM was earned on purchases made by credit card. Issuance and redemption of paper CTM was suspended in March 2020 as a result of the
COVID-19 pandemic in Canada. Redemption was resumed in July 2020 and is still permitted as of January 2026. As of May 2023, the corporation has no plans to resume paper CTM issuance other than for special commemorative issues.
History Canadian Tire Money coupons were introduced in 1958 at CTC's gas bar located at Yonge and Davenport streets in
Toronto. 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 in
Eastern Canada until 1995, when the program was launched to all locations nationwide. Since 1961, the coupons have featured an engraving of "Sandy McTire", who sports a
tam o' shanter and a stylized waxed moustache. A fictional character based on no specific individual, he is assumed to represent a thrifty Scotsman, the 1950s
everyman of blue-collar Canada.
Denominations CTM coupons that were actively issued at the program's suspension in 2020 were produced in denominations of 5, 10, 25, and 50 cents, as well as one and two dollars.
Usage beyond Canadian Tire • In late 2004 in
Moncton,
New Brunswick, several customers at a
Canadian Imperial Bank of Commerce ATM were dispensed a total of 11 bills of Canadian Tire money instead of real bills. They were compensated by the bank. • 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 2009
Trailer Park Boys movie
Countdown 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. • In 2012, musician
Corin Raymond funded his album
Paper Nickels partially through a fundraising campaign inviting fans to donate their unused Canadian Tire money. ==Coins==