New 5 pound note goes into circulation tomorrow

[Martin-O2]

Hey guys, 

We have a brand new £5 note going into circulation tomorrow which will feature a design including Winston Churchill on the back. The most interesting thing about the new fivers is that they will no longer be printed on the traditional paper and instead will be made of a plastic polymer like they currently use in Australia and Canada. 

The new polymer is cleaner, safer and longer lasting then the existing notes according to the Bank of England and can be recycled into new plastic products at the end of their life span. There will be a £10 and £20 version introduced over the next few years but there are no plans for a replacement for the £50. 

What do you think of the new bank notes? Has anyone had any experience using polymer notes abroad and if so what was your impression of them? 

Further reading

[Toby]

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@MI5 wrote:

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@Toby wrote:

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@jonsie wrote:

Many countries have adopted these notes now and they certainly feel better in the hand and are far more durable. I presume they cost more to produce but that is offset by their longevity.

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I tried to rip an Australian note in half while I was there last year. I used all of my strength, and it did nothing but stretch slightly, so your longevity point is a good one @jonsie

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Saved your bacon then Toby as it is illegal to deface or destroy currency.

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Its impossible now @MI5, so that's good!

[sheepdog]

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@Martin-O2 wrote:

@Cleoriff Washing is fine (not laundering) but apparently they will shrink if you iron them! 

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Not particularly well known but there is a system that can actually clean old notes though you probably need to be a rather large bank to profit from it: link here (disclaimer: I have no interest in this company)

[sheepdog]

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@Bambino wrote:

I've never used any notes like that, but it looks a great idea. They look malleable, and should cut down on counterfeiting for sure.

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Just remembered I've got a few Canadian dollars in polymer.  Though definitely longer lasting they do crease quite easily. 

[Beenherebefore]

I prefer plastic....been using it for years.

[Martin-O2]

@sheepdog That's a really interesting process! I wonder if it will work with the polymer notes? 

@Beenherebefore Plastic is so convenient. Especially with the contactless cards. 

[Marjo]

Hey guys, I've just got my first new 5 pound note. I had to circulate it around the office as everyone wanted to see and feel it.  I do confess I was wondering for a second if it was a toy note. It even has some transparent bits. I think it's quite impressive!

And to answer my own question from before, it is very light-weight and not thick at all (which I had imagined it would be).

Did you guys see these new ones in use yet?

[MI5]

I hardly ever carry cash these days, but for sure, if you'd passed it around my office, you'd still be waiting for it to come back

[Cleoriff]

I am still waiting to see and 'feel' one. No sign as yet. 

[Marjo]

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@MI5 wrote:
I hardly ever carry cash these days, but for sure, if you'd passed it around my office, you'd still be waiting for it to come back

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Some of my colleagues tried lines like "Oh hey I'll just keep this, it is indeed a toy note". I was vigilant though and got it back.

[MI5]

Just make sure no one switched it for Monopoly money