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Weekly Edition - Publication date:- 2017-14-04

-en Southport & Mersey Reporter

Local News Report  - Mobile Page

 

New polymer ₤5 issues leave people asking about authenticity

THE new polymer ₤5 notes, which entered circulation during September 2016, are supposed to be almost impossible to destroy. They also have an anti-counterfeit system incorporated. Sadly, since the start of 2017, warnings have started to circulate about counterfeits. Such warnings came from the likes of Dorset Police, in February 2017. Questions have now been raised about the new security features which the Bank of England had boasted would make them incredibly hard to counterfeit. We are told that the Bank of England has since launched an investigation; despite saying it was unaware of any forgeries of the new note. However, it has also been noted that it could be genuine, but damaged banknotes not counterfeits ones, have triggered the rise in warnings. This is down to the fact that, in some cases, extreme use or exposure to high temperatures has resulted in the foil Elizabeth Tower being removed from some of the notes in circulation. Since its release, a few other problems have been found, like when sometimes some details on the ₤5 note disappear when rubbed with a pencil eraser. That serious flaw was exposed by a Scottish print centre manager, on the Scottish ₤5 notes. Now new questions are being asked about the long term durability of these new notes. There are ways in which you can check to see if your note is a fake or not! Don't worry, if you do obtain a damaged ₤5 though, you can apply to the Bank of England to exchange it. However, if it is found to be counterfeit, you will not be reimbursed! It is also worth noting that there are a few misprinted Bank of England ₤5 notes now in circulation as well. This matter came to light at the end of 2016, after a lady on the Wirral discovered one of them, which lead to a fantastic pay out from an online auction.

This is how to check if your Bank of England, polymer ₤5 note is real or fake...

The polymer ₤5 is slightly smaller than the paper ₤5 note. It measures 125mm x 65 mm compared to 135mm x 70 mm for the old paper ₤5 note. Check if the see through window with the portrait of the Queen is correct. Around the edge of the portrait should be the words:- "₤5 Bank of England" printed twice. The ₤ symbol in the window also changes colour from purple to green and the effects can be seen from both the front and back of the note. Also look at the Elizabeth Tower: The edge of the see through window that it is printed over, should feature a border which changes from purple to green whilst tilting the note at an angle. The Tower should be gold on the front of the note and silver on the back. Next, look to at the foil patches.

The silver foil patch above the see through window contains the image of the coronation crown which appears in 3D. When tilted the image produces a multi coloured rainbow effect.

On the front of the note, just below the see through window, there should be a silver foil patch with the word:- "Five." When tilted the patch should change to reads:- "Pounds."

A real ₤5 note should also have a circular green foil patch, located on the back, containing the word:- "BLENHEIM." This should be located directly behind the Crown on the front. Lastly, for normal checks, is the print sharp and clear and free of smudges and blurred edges?

If you find any suspect issues, you can the check beneath the Queen's portrait. You will need a magnifying glass to do this properly. Look to see if there is a cluster of micro lettering with the value of the note in small letters and numbers.

The last check, other than serial numbers, is via ultra violet light. Under it you should see a number 5 appear on the k of Bank and the word:- "of" on the wording:- "Bank of England"; the number should appear in bright red and green, while the background should remain dull in contrast.

Booklet can be downloaded here.

Don't forget as well that British shoppers only have until 5 May 2017 to spend the old paper ₤5 notes, before they lose legal tender status.

It's also worth noting that in September 2017, the Bank will issue the new ₤10 polymer note featuring author:- 'Jane Austen.' Also, the new ₤20 note sporting:- 'JMW Turner', which is due to be released by 2020.

 

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