Meet your new five pound note
Cleaner
Polymer notes are also better for the environment. This is because they last longer and so we have to print fewer notes, which means less energy is used in manufacturing and cash transportation. When a polymer note has reached the end of its life it will be recycled into new plastic products.
Safer
The New Fiver has a number of security features which make it even harder to counterfeit. These include the see-through window and the foil Elizabeth Tower which is gold on the front of the note and silver on the back. You can learn more about these security features and how to check your notes here. Only a tiny proportion of notes are counterfeit - 0.0075% in 2015 – but we want to stay one step ahead of the counterfeiters and these new security features help us do this.
Stronger
Each new polymer note is expected to last at least 2.5 times longer than the current paper notes. This is because polymer is stronger than paper so the notes can better withstand being repeatedly folded into wallets or scrunched up into pockets.
Why Churchill?
Winston Churchill was one of the greatest statesmen of all time and is the only Prime Minister to win the Nobel Prize for literature. As he himself said, a "nation that forgets its past has no future". Our banknotes are repositories of the United Kingdom’s collective memory and are testaments to the outstanding achievements of the nation’s greatest individuals.Like Churchill, the new polymer note will also stand the test of time. It is cleaner, being more resistant to dirt and moisture. It is safer, with better security features. And it is stronger, making it longer lasting and more environmentally friendly.
Governor of The Bank of England
Future banknotes
The New Fiver is the first of the Bank of England’s new series of polymer notes, with the £10 and £20 notes to be replaced with polymer designs over the coming years.
NEW TEN POUND NOTE
The new polymer £10 note featuring Jane Austen will enter circulation in summer 2017.
NEW TWENTY POUND NOTE
The new polymer £20 note featuring JMW Turner will enter circulation by 2020.
There are currently no plans to replace the £50 note featuring Boulton and Watt and we will announce the material for future £50 notes in due course.
The CNN Money clip above discusses the Bank of England's plans to adopt polymer substrates for its banknotes, and there are even several shots of polymer 5- and 10-pound test notes at various points in the video.
Courtesy of Mark St. Pierre.
Courtesy of Mark St. Pierre.
This post is sourced from http://www.thenewfiver.co.uk