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Tuesday, September 13, 2016

Bank of England Introduces New Fiver

Bank of England Introduces New Fiver
Source: www.bbc.com

 

The Bank of England has finally released the new five pound banknote into circulation today. It is now printed on polymer, which is a thin flexible plastic. On the front of the bill you will still see the Queen. On the back it now features Sir Winston Churchill.

 

 

The Governor from Bank of England, Mark Carney said, “The New Fiver will commemorate the achievements of the only Prime Minister to win the Nobel Prize for literature and one of the greatest statesmen of all time - Sir Winston Churchill. As he himself said, ‘a nation that forgets its past has no future’.

 

Photo: Bank of England

 

Here are some new security features you should be on the lookout for:

  1. A see-through window featuring the Queen’s portrait. The border of the window changes from purple to green.
  2. The Elizabeth Tower (Big Ben) shown in gold foil on the front of the note and silver on the back.
  3. A hologram which contains the word ‘Five’ and changes to ‘Pounds’ when the note is tilted.
  4. A hologram of the coronation crown which appears 3D and multi-colored when the note is tilted.
  5. A green foil hologram of the maze at Blenheim Palace, Churchill’s birthplace and ancestral home.
  6. Micro-lettering beneath the Queen’s portrait with tiny letters and numbers that are visible under a microscope.
  7. The words ‘Bank of England’ printed in intaglio (raised ink) along the top of the note.

 

Withdrawal of the 5 pound banknote will gradually exit circulation starting September 13. After May 2017 they will no longer be legal tender. At that point you can still exchange them, but only with the Bank of England.  

You can also download the banknote app for use on iOS devices or Android devices. This will help you get a more detailed look at all current Bank of England banknotes with a backlight function and viewing under ultra-violet (UV) light. 

 

 

Related: How Will Brexit Affect the British Pound

 

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Posted By Jacquelyn McMullen at 12:00 PM
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