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New Winston Churchill £5 note design to be unveiled New Winston Churchill £5 note design to be unveiled
(about 1 hour later)
The final design for the new Bank of England £5 note entering circulation in September is to be revealed later.The final design for the new Bank of England £5 note entering circulation in September is to be revealed later.
The note will feature the image of Sir Winston Churchill and will be made of plastic rather than cotton paper.The note will feature the image of Sir Winston Churchill and will be made of plastic rather than cotton paper.
The Bank says the thin and flexible plastic banknotes will be cleaner, more durable, and harder to counterfeit than the current paper notes.The Bank says the thin and flexible plastic banknotes will be cleaner, more durable, and harder to counterfeit than the current paper notes.
But there is a danger, it admits, that they may initially be prone to sticking together.But there is a danger, it admits, that they may initially be prone to sticking together.
The use of thin, see-through polymer is a first for the Bank of England, but plastic banknotes are already in use in Scotland as well as other countries including Australia and Canada. They have also been used in Northern Ireland.The use of thin, see-through polymer is a first for the Bank of England, but plastic banknotes are already in use in Scotland as well as other countries including Australia and Canada. They have also been used in Northern Ireland.
The Bank will also release advice to businesses about dealing with the new polymer notes, which are 15% smaller than the current notes. At an event at Sir Winston's birthplace of Blenheim Palace in Oxfordshire, the Bank will also release advice to businesses about dealing with the new polymer notes, which are 15% smaller than the current notes.
ChurchillChurchill
The decision to feature Sir Winston on the new banknote was made three years ago.The decision to feature Sir Winston on the new banknote was made three years ago.
The artwork on the banknote will also include:The artwork on the banknote will also include:
The image of Churchill has featured on currency before. He was the first commoner to be shown on a British coin when he appeared on the 1965 crown, or five shilling piece.The image of Churchill has featured on currency before. He was the first commoner to be shown on a British coin when he appeared on the 1965 crown, or five shilling piece.
There are more than 329 million £5 notes in circulation, so it will take a year for the Churchill note to fully replace the current one featuring the social reformer, Elizabeth Fry.There are more than 329 million £5 notes in circulation, so it will take a year for the Churchill note to fully replace the current one featuring the social reformer, Elizabeth Fry.
She is the only woman, apart from the Queen, to appear on Bank of England notes, although Jane Austen will feature on the new £10 note issued next year. She is the only woman, apart from the Queen, currently appearing on Bank of England notes, although Jane Austen will feature on the new £10 note issued next year.
The new £10 and £20 notes will also be printed on polymer. The Bank recently announced that artist JMW Turner will appear on the next £20 banknote, expected to enter circulation by 2020.The new £10 and £20 notes will also be printed on polymer. The Bank recently announced that artist JMW Turner will appear on the next £20 banknote, expected to enter circulation by 2020.
New polymer banknotes are also being issued in Scotland.New polymer banknotes are also being issued in Scotland.
Notes are redesigned on a relatively frequent basis, in order to maintain security and prevent forgeries.Notes are redesigned on a relatively frequent basis, in order to maintain security and prevent forgeries.