Sage-Tips

Why are polymer bank notes better?

Most important, polymer notes last more than twice as long as paper notes—and higher denominations, which are handled less frequently, last even longer. This means fewer polymer notes have to be manufactured and distributed over the life of a series.

Are polymer banknotes better than paper?

The new polymer notes allow for enhanced security features, such as the see-through window and holograms. This makes them harder to counterfeit than paper notes. They’re stronger, too: a polymer fiver is expected to last two-and-a-half times longer than the old paper £5 note.

What are disadvantages of polymer plastic money?

He also points to some notable disadvantages of polymer banknotes: They are harder to fold. They are more slippery, which makes them harder to count by hand. Some less developed countries may not have the facilities to recycle them – and when they burn they pollute the air.

Why was the polymer banknote invented?

Australia invented polymer banknotes in response to high-quality forgeries of our initial paper currency which had emerged within a year of its introduction. This spurred the Reserve Bank to join forces with CSIRO and The University of Melbourne in order to develop new, more secure currency.

What are the benefits of polymer money?

Pros of Polymer Banknotes Polymer bills last a long time. The wear and tear typically associated with paper money does not affect polymer notes as quickly as it does for paper money. In 2013, The Guardian stated that polymer banknotes are likely to last 2.5 times longer than paper money.

What are polymer bank notes made of?

What is polymer? Polymer banknotes are made from a very thin, flexible, see-through plastic film, with the design printed on special layers of ink on the front and back. Because the main material is see-through, the design can include clear spots that are like little windows you can look straight through.

What are the advantages and disadvantages of the polymer notes?

As mentioned twice, the surface of polymer banknotes is very smooth. Being smooth has advantages, but can also be a disadvantage. It makes the banknote relatively slippery and so less comfortable to hold, count and transfer. Polymer banknotes can get sticky when wet.

Why is polymer money better than paper money?

As mentioned, the surface of polymer banknotes is very smooth. The banknotes are thus less susceptible to dirt. Moreover, if the banknotes do get dirty, it is relatively easy to clean them. Besides being water and dirt resistant, polymer banknotes can also withstand extreme temperatures.

How can polymer banknotes be damaged?

50 million damaged polymer banknotes replaced The Bank of England have said that the damage was mainly caused by “folds, tears, holes and foil wear”. Plus, when a polymer note reaches the end of its life, it will be recycled, meaning the new notes are more environmentally friendly.

Are there fake polymer notes?

There are simple ways to tell whether a paper or polymer banknote is real or fake. When the note is tilted from side to side, the hologram at the bottom should alternate the words “Five/Ten/Twenty/Fifty” and “Pounds”.

How can you tell if a note is real UK?

Look at the metallic image over the main window. Check the foil is gold and green on the front of the note and silver on the back. Within the two gold foil squares on the front of the note, the images change between ’50’ and a ‘£’ symbol when the note is tilted.

What happens if you get caught with fake money UK?

How serious is counterfeiting money? It is a criminal offence to knowingly use, or be in possession of fake notes. The maximum sentence under the Forgery and Counterfeiting Act 1981 is 10 years’ imprisonment.