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| Small Data: Check for fifties under the mattress | Small Data: Check for fifties under the mattress |
| (about 7 hours later) | |
| The £50 note featuring the first governor of the Bank of England, Sir John Houblon, will be withdrawn on Wednesday, writes Anthony Reuben. | The £50 note featuring the first governor of the Bank of England, Sir John Houblon, will be withdrawn on Wednesday, writes Anthony Reuben. |
| The Bank of England reckons that with two weeks to go there were still 53 million of them in circulation, with a value of £2.65bn. | The Bank of England reckons that with two weeks to go there were still 53 million of them in circulation, with a value of £2.65bn. |
| That seems like quite a lot - I can't remember the last time I saw a £50 note. | That seems like quite a lot - I can't remember the last time I saw a £50 note. |
| "We'd expect a lot to be out there," says Victoria Cleland, head of the notes division at the Bank of England (remember her name - you'll start seeing it on banknotes soon). | "We'd expect a lot to be out there," says Victoria Cleland, head of the notes division at the Bank of England (remember her name - you'll start seeing it on banknotes soon). |
| "There was an increase in demand for fifties during the financial crisis," she adds, as people worried about the safety of banks. | "There was an increase in demand for fifties during the financial crisis," she adds, as people worried about the safety of banks. |
| She also says that some people use larger denomination notes to save up for something, and those people might well keep their Houblon £50 notes until they are ready to make a purchase and only then come to the Bank of England to convert them to current notes. | She also says that some people use larger denomination notes to save up for something, and those people might well keep their Houblon £50 notes until they are ready to make a purchase and only then come to the Bank of England to convert them to current notes. |
| We know that high-denomination banknotes are popular with criminals because they make it easier to transport lots of cash, although the most valuable euro note - the 500 euro - is worth eight times as much as a £50 note. | We know that high-denomination banknotes are popular with criminals because they make it easier to transport lots of cash, although the most valuable euro note - the 500 euro - is worth eight times as much as a £50 note. |
| Anyway, if you are more cash-oriented than I am, and have a stack of Houblon fifties under your mattress, you only have a couple of days to get down to the shops for a spending spree. | Anyway, if you are more cash-oriented than I am, and have a stack of Houblon fifties under your mattress, you only have a couple of days to get down to the shops for a spending spree. |
| Post Offices and several banks will continue to accept them until the end of October. | Post Offices and several banks will continue to accept them until the end of October. |
| After that, if you want to exchange your bills for one of the new Boulton and Watt £50 notes, you'll have to get yourself down to the Bank of England in London (go to Bank station - it's easy to remember) or send them in the post. | After that, if you want to exchange your bills for one of the new Boulton and Watt £50 notes, you'll have to get yourself down to the Bank of England in London (go to Bank station - it's easy to remember) or send them in the post. |
| If you fill out a form, they will exchange any Bank of England note ever issued for its face value. | If you fill out a form, they will exchange any Bank of England note ever issued for its face value. |
| The Bank says it exchanges about 1,000 notes a month. | The Bank says it exchanges about 1,000 notes a month. |
| Have you got an Isaac Newton £1 note or a Duke of Wellington fiver lying around? | Have you got an Isaac Newton £1 note or a Duke of Wellington fiver lying around? |
| The Bank will even exchange pre-decimal notes, so if you have a 10 shilling note at the back of a drawer, they'll give you 50p for it. | |
| Follow @BBCNewsMagazine on Twitter and on Facebook | Follow @BBCNewsMagazine on Twitter and on Facebook |