England

England polymer 5- and 10-pound notes in video


The CNN Money clip above discusses the Bank of England's plans to adopt polymer substrates for its banknotes, and there are even several shots of polymer 5- and 10-pound test notes at various points in the video.

Courtesy of Mark St. Pierre.

Bank of England 1- and 100-million pound notes in video


Check out this video from Channel 4 News in which you can view the Bank of England's 1-million and 100-million pound notes.

England announces new 5- and 10-pound notes to be printed on polymer

According to a press release dated 18 December 2013, the Bank of England intends to print new 5- and 10-pound notes on polymer. The 5-pound note featuring Sir Winston Churchill will be issued in 2016, followed in 2017 by the 10-pound note featuring Jane Austen.

Bank of England asks for public input before switching to polymer notes

According to a press release dated 10 September 2013, the Bank of England has revealed that it has been studying a switch from paper to polymer substrates over the past three years and found that the latter is cleaner, more secure, more durable, and more environmentally friendly. However, before finalizing on the decision to switch to polymer for its banknotes, the bank is undergoinh a two-month-long public consultation program ending on 15 November 2013. The bank’s final decision, in the light of feedback, will be announced in December 2013. If a decision is taken to proceed with printing on polymer, this will initially only be for the new-style £5 and £10 banknote. Polymer banknotes would be introduced one denomination at a time, with the Churchill £5 in 2016 at the earliest. The new polymer notes would also be smaller than existing paper notes.

England confirms new 10-pound note to feature Jane Austen in 2016-2017

According to a press release dated 24 July 2013, the Bank of England has "confirmed that Jane Austen will appear on a forthcoming Bank of England banknote: the next new character following Sir Winston Churchill…The Austen note will be issued as a £10 note, within a year of the Churchill £5 note, which is targeted for issue during 2016."

Features of the design on the reverse of the Jane Austen note will include:

  • The quote – “I declare after all there is no enjoyment like reading!” from Pride and Prejudice (Miss Bingley, Chapter XI).
  • Portrait of Jane Austen. Commissioned by James Edward Austen Leigh (Jane Austen’s nephew) in 1870, adapted from an original sketch of Jane Austen drawn by her sister, Cassandra Austen.
  • An illustration of Miss Elizabeth Bennet undertaking “The examination of all the letters which Jane had written to her”– from a drawing by Isabel Bishop (1902-1988).
  • The image of Godmersham Park. Godmersham was home of Edward Austen Knight, Jane Austen's brother. Jane Austen visited the house often and it is believed that it was the inspiration for a number of her novels.
  • Jane Austen’s writing table – the central design in the background is inspired by the 12 sided writing table, and writing quills, used by Jane Austen at Chawton Cottage.

Courtesy of Anthony Rodov.

Bank of England responds to public demand for women on new notes

The Bank of England has posted the response from Mark Carney, governor of the Bank of England, to a letter received on 1 July 2013 from Mary Macleod MP, who expressed diappointment that Elizabeth Fry is to be replaced on the 5-pound note by Winston Churchill.

Courtesy of James Cadman.

England to feature Winston Churchill on new 5-pound note in 2016

churchill
According to a press release, the Bank of England will feature Winston Churchill on a new 5-pound note to be issued in 2016.

Commenting on the choice, the Governor said: “Our banknotes acknowledge the life and work of great Britons.  Sir Winston Churchill was a truly great British leader, orator and writer.  Above that, he remains a hero of the entire free world.  His energy, courage, eloquence, wit and public service are an inspiration to us all.  I am proud to announce that he will appear on our next banknote."
The plan is for the Churchill note to be issued as a £5 note, and that it shall be issued during 2016; but those choices may be reviewed as plans for issuing the new note are finalised. Features of the design on the reverse of the note will include:

  • A portrait of Winston Churchill from a photograph taken in Ottawa by Yousuf Karsh on 30 December 1941 - © Yousuf Karsh/Camera Press.
  • A view of Westminster and the Elizabeth Tower from the South Bank looking across Westminster Bridge - © Abi Daker.
  • The image of the Elizabeth Tower with the hands of the Great Clock at 3 o’clock – the approximate time on 13 May 1940 when Sir Winston Churchill declared in a speech to the House of Commons: “I have nothing to offer but blood, toil, tears and sweat.” This declaration is quoted beneath the portrait.
  • A background image of the Nobel Prize medal which he was awarded in 1953 for literature, together with the wording of the prize citation. The trademark Nobel Prize® is reproduced with permission from the Nobel Foundation.

Further details on the full design of the new note will be revealed when the new note is launched, together with a full promotion and awareness campaign.

Courtesy of Paul Walters.

Press release: The Banknote Yearbook 8th Edition

Banknote_Yearbook

England 1- and 100-million pound notes confirmed

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BBC News has an interesting article which discusses the Bank of England's "giant" and "titan" notes denominated in 1- and 100-million pounds.

Courtesy of Christof Zellwegger.

Bank of England puts note printing out to tender

According to a PrintWeek article dated 10 December 2012, De La Rue's contract to print the UK's banknotes could come to an end as the Bank of England (BoE) has issued a tender notice asking up to five operators to bid for the £1bn contract.

It is only the second time that the contract has been outsourced since De La Rue took over banknote printing for BoE in 2003.

The contract, which could potentially run for up to 14 years, will see alternative suppliers bidding to print up to 12bn banknotes at BoE’s Debden, Essex facility.

BoE expects that the 200 staff at the Debden plant will be transferred to the new supplier should the contract be awarded away from De La Rue.

The new supplier would be responsible for the maintenance of Debden’s printing machinery, which is expected to be refurbished or replaced with the payment of capital costs coming from BoE.

The tender also states that the new supplier would need to accomodate changes in the features or substrates included in banknote production in line with security reviews by the governing body.

Bidding operators must have at least three years of experience in commercial banknote printing and have printed at least 500m banknotes over a 12-month period at one site in the past three years as payment will depend on the volumes of accepted banknotes produced.

The deadline for bids is 31 January 2013, and BoE expects that banknote production will commence from April 2015 following a six to twelve month transition period between suppliers. The successful participant will have the option to extend the contract by a further 36 months.

One provision in the tender that has gotten the attention of banknote collectors is the requirement that the printers be able to handle printing on polymer, not just the paper substrate traditionally used on Bank of England notes. To be clear, however, the bank hasn't committed to printing new notes on polymer; it's simply ensuring that polymer is an option regardless of who it chooses as its new printer.

Bank of England names Canadian, Mark Carney as its new governor in 2013

carney
According to a press release dated 26 November 2012, the Bank of England has announced that Mark Carney has been appointed governor of the bank from 1 July 2013. He will succeed Sir Mervyn King. Carney is currently Governor of the Bank of Canada, having taken up his office on 1 February 2008. The move will likely mean new signature varieties for Canada's banknotes, but not for those in Great Britain, where the notes are signed by the chief cashier.

Courtesy of Jim Chen, Alex Zlotin, and Aidan Work.

Great Britain new sig 5-, 10-, and 20-pound notes confirmed

According to a press release, on 12 September 2012, the Bank of England issued 5-, 10-, and 20-pound (US$8, $16, and $32, respectively) notes bearing the signature of the current chief cashier, Chris Salmon. These notes are like the preceding issues (P391, P389, and P392) and will circulate in parallel.

"The new notes bearing Chris Salmon’s signature were produced with printing plates made under a different manufacturing method. This has not changed the appearance of the notes. De La Rue previously used printing plates produced via the film exposure method. However, due to the diminishing demand for this technology in the printing community, De La Rue have changed to printing plates which are produced via the direct laser engraving method, known as ‘computer to plate’ technology."

Great_Britain_BOE_5_P_2002.00.00_P391_LE82_336109_sigGreat_Britain_BOE_10_P_2000.00.00_P389_JH77_092584_sigGreat_Britain_BOE_20_P_2006.00.00_P392_HA50_797767_sig

Anyone interested in buying one of these notes can contact the contributor by clicking the link below.

Courtesy of Antje González and Pam West.

England considering polymer notes

CentralBanking.com has an interesting video on its web site interviewing Chris Salmon, the chief cashier at the Bank of England, discussing various matters related to the new 50-pound (US$78) note, as well as confirming that the BoE is examining polymer substrates for possible use in the future.

Courtesy of Thomas Krause.

Interesting article on polymer notes

On 18 November 2011, the BBC published an interesting article, “Who, What, Why: Why don't more countries use plastic banknotes?,” which quotes BanknoteNews.com contributor Stane Štraus, publisher of the Polymer Bank Notes of the World web site.

Courtesy of Aidan Work.

England new 50-pound note confirmed


50 pounds (US$80). Red. Front: Bank of England seal; Bank of England headquarters building in London; Queen Elizabeth II. Back: Entrepreneur Matthew Boulton; horse with rider and carriage outside Boulton’s Soho factory building; Whitbread steam engine; engineer James Watt; cogs. Solid and windowed Motion security threads. Watermark: Queen Elizabeth II and electrotype £50. Printer: (DLR). 156 x 85 mm. 2010. Signature Chris Salmon. Intro: 02.11.2011.



Read the Bank of England’s press release for more details.

Courtesy of Antje Ryberg.

England to issue new 50-pound note 02.11.2011

According to a press release dated 30 September 2011, “the Bank of England will introduce a new-style £50 banknote into circulation on 2 November 2011. The note will feature the renowned 18th century business partnership of entrepreneur Matthew Boulton and engineer James Watt.

“A range of new and enhanced security features have been incorporated into the design of the Boulton and Watt £50 banknote. Full details of these will be revealed when the new banknote is introduced into circulation, accompanied by a publicity and education campaign.

“The Boulton and Watt £50 banknote marks the first time two portraits have appeared together on the back of a Bank of England banknote. It will also be the first banknote in circulation to be signed by Chris Salmon, who was appointed as the Bank’s Executive Director, Banking Services and Chief Cashier in April 2011.

“As new-design banknotes are introduced so the notes they replace are withdrawn – although they can always be exchanged with the Bank of England for their face value.

“The Boulton and Watt £50 banknote will initially circulate in tandem with the current £50 banknote featuring Sir John Houblon, the first Governor of the Bank of England, which was introduced in 1994. The Bank will make an announcement regarding the withdrawal date of the Houblon £50 banknote in due course.”

Additional information and images are requested so that this report can be confirmed.

England contemplating polymer notes

According to an article in The Independent dated 4 September 2011, the Bank of England is considering a polymer 5-pound (US$8.05) note and a 50-pound (US$80) note with a transparent window (most likely De La Rue’s Optiks) to improve durability and protect against counterfeiting.

A source close to the BoE said: "This is at the evaluation stage. A decision won't be made for the next year or two and production a little while after that, but a plastic £5 note is a possibility even though it won't provide as much security as other options."

Courtesy Thomas Krause and Richard Miranda.

UN releases $1.5 billion in Libyan banknotes from DLR

The United Nations has approved the release of 1.86 billion (US$1.5 billion) worth of Libyan dinar banknotes printed by De La Rue. The notes had been held in the UK under sanctions imposed on the Gaddafi regime, but will now be delivered to the Central Bank of Libya.

Courtesy of Thomas Augustsson.

IBNS Book of the Year: Standard Catalogue of the Provincial Banknotes of England and Wales


The International Bank Note Society (IBNS) has awarded its 2011 Book of the Year, for a book published in 2010, to The Standard Catalogue of the Provincial Banknotes of England & Wales by Roger Outing. The announcement was made at the Annual General Meeting of the IBNS in Memphis, Tennessee, USA in early June.

Already considered an essential guide for collectors of English and Welsh paper money, Roger Outing’s book covers a wide range of bank note and banking information. While the book carries on the pioneering work of Geoffrey Grant’s The Standard Catalogue of Provincial Banks and Banknotes, there is much more to Mr. Outing’s work. The main section of the new work is an alphabetical listing of issuing banks by town, which also incorporates the multi-branch joint stock banks. This is followed by a full listing of the London private and joint-stock banks; most of which never issued banknotes, but the comprehensive coverage is a boon for bank historians, as well as collectors of cheques and other financial ephemera. A further section lists all non-bank issuers by town of origin – mostly collieries, ironworks and the like, which issued notes in the early years of the nineteenth century. The final section covers Skit Notes, an area not previously researched in detail. Skit Notes were often prepared for advertising, entertainment or political purposes, and quite often were designed to look similar to genuine notes. While only items issued prior to 1900 are included, there are still details of some 63 ‘issues’.

The Standard Catalogue of the Provincial Banknotes of England & Wales is an impressive work – not only is the information of great value, it is very well presented. A large format, hard-back publication of 520 pages, with over 850 colour illustrations, the book has been prepared to a high standard by its publishers – Token Publishing of the United Kingdom. This catalogue and price guide is a wonderful example of the investment of time and effort into the research of paper money and the IBNS congratulates Roger Outing on a valuable achievement and contribution to the world of paper money.

Bank of England to withdraw 20-pound note on 30 June 2010


According to a Bank of England press release dated 8 March 2010, the 20-pound (US$30.10) note with the portrait of composer Sir Edward Elgar on back will cease to be legal tender after 30 June 2010. “This note has been gradually replaced by the Adam Smith £20 which was introduced in 2007. Announcing this today, the Bank of England assured holders of the Elgar £20 banknote that they could certainly use the notes up to, and including, 30 June. After that date the note will no longer have ‘legal tender’ status. The note will not have to be accepted in payment, or in change, in retail outlets after this date.”

“For several months from the end of June banks, building societies and Post Offices will accept Elgar £20 notes for deposit to customer accounts and for other customer transactions. Agreeing to exchange the notes for non-customers is at the discretion of the individual institution. The Bank of England will always give value for these notes (and all other banknotes the Bank has issued).”

“Andrew Bailey, the Bank of England’s Chief Cashier, said, ‘The Elgar £20 banknotes were first introduced in 1999 and we introduced the Adam Smith £20 banknotes three years ago. We said at the time that the two designs would circulate in tandem, with the Elgar notes gradually being withdrawn over the next few years. It is time now to withdraw the Elgar £20 notes completely, with the Adam Smith £20 banknotes to be the only £20 note design continuing in circulation.’”

Courtesy of Aidan Work.

Bank of England to issue new £50 note in 2011

On 29 May 2009, the Bank of England announced that it would issue a new 50-pound note in early 2011. The new £50 note (US$82) will feature portraits of 18th century entrepreneur Matthew Boulton and engineer James Watt. Bank of England Governor, Mervyn King, said, “Just as the Bank of England plays an essential role in the economy as the United Kingdom’s central bank, so too did Boulton and Watt’s steam engines and their many other innovations as essential factors in the nation’s Industrial Revolution. So many of the advantages society now enjoys are due in large part to the vital role of engineering and the brilliance and foresight of people such as Boulton and Watt whose development and refinement of steam engines gave an incredible boost to the efficiency of industry.”

“The unique and rare opportunity that the Bank has through its banknotes to acknowledge and promote awareness of our nation’s heritage of artistic, social and scientific endeavour is an honour for us. The Bank’s choice of Boulton and Watt, a reminder of the invaluable contribution from engineering and the entrepreneurial spirit to the advancement of society, I think, well reflects this.”

The Boulton and Watt £50 banknote will be the second note in the Series F family which began with the introduction of the Adam Smith £20 note on 13 March 2007. Therefore its overall appearance will be similar. But for the first time two portraits will appear together on the reverse of the note, those of Boulton and Watt, along with the image of a steam engine and the Soho (Birmingham) Manufactory. As with the Adam Smith £20 banknote however, continuity is provided with the current portrait of Her Majesty The Queen, which was first used in 1990 and which will be retained on the front of the note. Further details of the design and the range of security features to be included on the new note will be revealed when the new note is launched.

Bank of England refutes report of new notes depicting religious leaders

According to a TotallyJewish.com article dated March 5, 2009, “A new British banknote featuring a portrait of the Chief Rabbi is to be issued later this year in an effort to literally 'restore faith in the economy'. Sir Jonathan Sacks is one of five senior religious leaders whose images will appear on UK currency as part of a series of measures to tackle the credit crunch. The initiative was announced by the Chancellor of the Exchequer and the Bank of England this week.”

This “news” item struck me as highly unlikely, so I wrote to the Bank of England for confirmation or denial. As I suspected, the TotallyJewish.com item is either false or was intended as satire. Here is the full response I received from Malcolm Shemmonds, a media representative at the BoE:

“I'm afraid that the news concerning this supposed new banknote issue by ourselves is totally untrue. There are no plans to circulate any new Bank of England notes in the immediate future. However, the Bank of England has a rolling banknote design programme and we may well decide to revise the design of our other notes in due course to reflect the same security features and theme (British historical figures) that have been incorporated within our current banknote series.

“By way of background, you may be interested to know that we decide whom to feature on our banknotes on the basis of an enduring contribution to the advancement of society. Having said that, the choice of whom to celebrate on the banknotes is never easy, and any candidate will naturally have both staunch supporters and detractors. The final choice of who appears on our notes rests with the Governor of the Bank of England.”

England issues new 20-pound note featuring Adam Smith



Today the Bank of England issued a new £20 featuring Adam Smith, one of the fathers of modern economics. This is the first design in a new series of notes from the bank known collectively as “Series F.”

The new notes will circulate in parallel with the current £20 (Pick 390), which will be progressively withdrawn from circulation. Measuring 149 x 80 mm, the new £20 is the same size as the current note. The portrait of Queen Elizabeth II is retained on the front, but the new note features a brighter color purple, as well as a large silver holographic strip, a registration device, additional intaglio printing, improved watermark, and more UV features to deter counterfeiters. The new note bears the signature of Andrew Bailey, Chief Cashier.

A portrait of Smith appears on the back of the new note, along with an engraving showing “The division of labour in pin manufacturing” with the parenthetical quote “and the great increase in the quantity of work that results” drawn from his major work, An Inquiry into the Nature and Causes of the Wealth of Nations. The image of Adam Smith is based on a likeness of the portrait of him by James Tassie — Scottish National Portrait Gallery — and reproduced by permission; and the image of pin manufacturing is based on an original image, and by permission of The British Library. Adam Smith (1723 - 1790) is the first economist and the first Scotsman to appear on a Bank of England note.

Pick 392: 20 pounds (US$38.60)). Issued March 13, 2007. Bright purple. Series F. QEII portrait, holographic stripe, registration device, additional intaglio printing, improved wmk, and more UV features. Signature: Andrew Bailey, Chief Cashier. Portrait of economist Adam Smith and illustration of “The division of labour in pin manufacturing” on back. 149 x 80 mm.