Posts by Rachel
Are polymer banknotes indestructible? Millions of damaged notes forced to be replaced…
Do you remember how strange it felt to hold your first polymer £5 note when they were released back in 2016?
Billed as the most durable banknotes yet, the new polymer notes replaced the old paper versions with a thin and flexible plastic material which was said to be cleaner, safer and stronger.
And whilst it’s claimed they should last 2.5 times the lifespan of paper notes, it seems they might not be as durable as once thought…
It’s now been four years since the £5 notes were released, three years since the £10 notes were released and we’re just over a month away from the release of the new polymer £20 note.
Whilst we’re all really excited for the upcoming release of the new £20 note featuring JMW Turner, the question remains as to how durable this note will really be.
50 million damaged polymer banknotes replaced
Recent figures suggest that almost 50 million polymer £5 and £10 notes have been forced to be replaced due to the wear and tear sustained since they were released into circulation.
The Bank of England have said that the damage was mainly caused by “folds, tears, holes and foil wear”.
Figures from the Press Association news agency, say that roughly 20 million polymer £5 notes and around 26 million £10 notes have been swapped so far due to damage.
However, the Bank has never said the new notes are indestructible, instead claiming that they should last 2.5 times longer than paper notes, which were lasting an average of just two years in circulation.
The number of polymer banknotes being replaced only represents a small percentage of the total number which are circulating and the Bank suggests that this is in line with their expectations.
“While we expect the polymer notes to have a longer life, it is too early in the note’s lifecycle to yet understand the rate of replacement of polymer notes,” they said.
“The use of polymer means it can better withstand being repeatedly folded into wallets or scrunched up inside pockets, and can also survive a spin in the washing machine.”
In 2015, 21,835 paper banknotes were replaced due to damage from being torn, washed, contaminated, damaged and even chewed and eaten!
The new polymer material is resistant to dirt and moisture which means they will stay in a better condition for longer.
Plus, when a polymer note reaches the end of its life, it will be recycled, meaning the new notes are more environmentally friendly.
New polymer notes to be released
The new £20 note is due to enter circulation on 20 February 2020 and initially the note will be in circulation alongside the existing paper £20 notes.
These will eventually be phased out as we have seen with the paper £5 and £10 notes in the past years.
We are also expecting the new £50 polymer banknote featuring mathematician and second world war codebreaker Alan Turing in 2021.
Are you looking forward to seeing the new polymer notes, and have you experienced any damage to your £5 and £10 polymer notes? Let us know in the comments below!
If you’re interested in coin collecting, our Change Checker web app is completely free to use and allows users to:
– Find and identify the coins in their pocket
– Collect and track the coins they have
– Swap their spare coins with other Change Checkers
Sign up today at: www.changechecker.org/app
Vote for your favourite 2020 Annual Set coin!
The 2020 Annual Coin Set was officially released yesterday and we can’t wait to hear which coin Change Checkers will vote as their favourite!
Have your say by voting in the poll below:
Keep your eyes peeled as we’ll be revealing the winning coin soon!
*** UPDATE ***
The results are now in, and I’m pleased to announce that the Team GB 50p has been voted by Change Checkers are their favourite 2020 Annual Coin!
Did you vote for this coin? Let us know in the comments below!
Own the 2020 Commemorative Coin Set
If you can’t wait to get hold of these coins, be one of the first to own the complete set!
First look: New Royal Mint coin designs for 2020!
Happy New Year and Happy New Coins Change Checkers!
We can’t wait to reveal to you the new 2020 coin designs and I’m sure you’ll agree that there are some really fantastic coins to look forward to.
So let’s kick off the year with the coins we’ve all been waiting for, the 2020 Annual Set…
Team GB
We all love a 50p, and in this year’s Annual Coin Set The Royal Mint have issued a brand new 50p coin to support Great Britain in the Tokyo Olympic Games.
Designed by David Knapton, the 2020 Team GB 50p features symbols depicting individual Olympic sports accompanied by the Olympic Rings, the Team GB logo, the inscription ‘TEAM GB’ and the date ‘2020’.
The Olympics are an undeniably popular subject and for many the 2012 Olympic 50p series marked the start of their passion for change collecting.
In 2016 a Team GB 50p was issued to support Great Britain’s efforts in Rio and this was thought of by many as the 30th Olympic 50p, but with a new 2020 Team GB coin now being issued, could this be the 31st Olympic 50p?
We certainly love the design and I’m sure Change Checkers will think it’s a real winner too!
2020 Agatha Christie £2
English detective novelist Agatha Christie published her first novel, ‘The Mysterious Affair at Styles’ in 1920 and now, 100 years later, a £2 coin has been issued to commemorate her work.
Her 1920 novel introduced one of Britain’s best-loved detectives Hercule Poirot, who became a long-running character in Christie’s work, featuring in 33 novels and 54 short stories!
This coin has been designed by David Lawrence and features a nearly completed jigsaw puzzle with the final piece ready to be inserted, and the inscription ‘1920 100 YEARS OF MYSTERY 2020′.
Following the popularity of UK coins celebrating great British writers, such as the Jane Austen £2, Sherlock Holmes 50p, Charles Dickens £2, the Beatrix Potter 50ps and more, we’re sure that this new coin is bound to prove a real hit with collectors.
2020 75th Anniversary of VE Day £2
The next coin in the 2020 Annual Set marks an incredibly poignant anniversary, commemorating 75 years since VE Day and the end of the Second World War.
Victory Day in Europe celebrates the Allies of World War II formally accepting Nazi Germany’s unconditional surrender of its armed forces on the 8th May 1945, marking the end of the war.
Dominique Evans‘ design features a woman holding a newspaper aloft in crowd of celebrating people, set against a backdrop of the word VICTORY.
The edge inscription reads ‘JUST TRIUMPH AND PROUD SORROW’ which is incredibly fitting for a coin which marks such a pivotal moment in British history.
2020 Mayflower £2
2020 marks the 400th anniversary of The Mayflower’s voyage from Plymouth, England to the ‘New World’ in 1620.
This voyage saw over 100 Pilgrims and around 30 crew spend two treacherous months at sea, battling against the North Atlantic wind as they journeyed to America to establish the first permanent New England colony by signing the Mayflower Compact.
Designed by Chris Costello, the Mayflower £2 shows the ship upon a rough sea, with a guiding star in the night sky and the edge inscription ‘Undertaken for the glory of God’.
Excitingly for collectors, this is not the first time that The Mayflower has appeared on a £2 coin, as a similar design actually featured on the 1994 trial piece, which often sells for well into three figures on the secondary market!
2020 George III £5
This year marks the 200th anniversary since the death of George III, King of Great Britain and Ireland.
George’s life and reign were longer than any British monarch before him, although due to his deteriorating health during the last 10 years of his life, his eldest son George IV ruled as Prince Regent.
To celebrate the life of George III, The Royal Mint have issued a new £5 coin designed by Dominique Evans.
The coin features the portrait of King George III in a crowned cartouche at the centre of the coin, with his Royal Cypher below, floral emblems of the United Kingdom and scenes associated with his life from Windsor Castle and the Kew Observatory.
The announcement of the new annual coins is always an exciting moment for Change Checkers, particularly when the anniversaries are as significant as these.
Do you have a favourite coin from the set? Let us know in the comments below!
Own the 2020 Commemorative Coin Set
If you can’t wait to find these coins in your change, be one of the first to own the complete set!