Plastic Fivers May Last Longer But You Spend Them Just As Quickly

14 September 2016

This week see’s the launch by the Bank of England of our first plastic bank note. It is estimated that the new £5 note made from polymer rather than paper will last two to three times as long as the notes it is replacing, with the old fivers on average surviving just a year in general circulation.

Featuring perhaps our greatest ever Prime Minister Sir Winston Churchill, the new notes are not only far more durable but incorporate a number of sophisticated anti-counterfeiting features. The Bank of England claims the new notes are just as foldable and “countable” as traditional paper money. From personal experience on a recent trip to New Zealand I had been handling and spending their notes for two weeks before it came up in conversation they were “plastic” rather than paper, I simply didn’t notice!

With new polymer £10 and £20 notes due to be issued in the next couple of years it seems the £50 note, which on average survives five years of circulation will be the last of hundreds of years of paper money issue in this Country.

The Bank of England has a good website detailing this change: New Five Pound Note

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