Can the new Bank of England £20 note make you rich??
So I've just finished reading a blog by @raybrockman and it's inspired me to share with you some news about a new plastic note about to enter circulation. You can read @raybrockman's post HERE.
The £20 note is getting a brand new look. The Bank of England has decided to launch it on the 20 February 2020 - fitting for a £20 note!
With the £20 note being Britain's most counterfeited note, additional security measures have been introduced, in an attempt to stop counterfeiters from "cashing in".
In the first half of last year, 88% of detected banknote forgeries were £20 notes, the Bank’s statistics show. The Bank discovered 228,000 counterfeit banknotes, of which 201,000 were £20 notes. So as you can see, it's a big problem!!
The Bank describe this new note as the 'most secure note ever', and will incorporate two windows and a two-colour foil, making it even more difficult to copy.
(old style £20 note)
The latest note is made from plastic and features a special hologram which is meant to stop people making fakes notes. It's a plastic note like the £10 note released in 2017 and the £5 that was released in 2016 .
The Bank of England has unveiled the design for Britain's most common banknote, and it will feature the famous British artist JMW Turner
JMW Turner - self portrait.
So why are we getting plastic notes?
The Bank of England launched a new plastic £5 note in 2016, and a £10 note in 2017. Next year we're set to have a new plastic £50 note too that will complete the set. This means all Bank of England notes will be plastic by 2022
It is thought that plastic is more durable and stronger than paper, so fewer notes that need replacing. The BoE estimates that the plastic notes will last five years compared to the paper notes that have an expected use-life of just two years.
So basically, what it boils down to is that the BoE can save money by not having to have to continue to print and replace notes.
Why am I so excited?
So let's get down to the nitty-gritty.... For me, new notes equal LOW SERIAL NUMBERS.
There will be much hype about funding new notes and finding those elusive low serial numbers. Now, just as a bit of nerd trivia - AA001 000001 will always go to the queen. So her collection must be worth a fortune!
But there is a chance that those low numbers may be released into circulation in my area. On Thursday I will be going to my bank very early and withdrawing a few £20 notes, I'll also be calling to my local cashpoint and taking out some money in hope of getting lucky.
Just as an example, a low number, £10 note sold for over £7000 when it went to auction :
So if you're reading this, and you live in the UK, keep your eyes peeled your new plastic £20 note could net you a fortune.
Posted via Steemleo
Serial Number collecting is a big deal with other serial variants suchs as Highest notes, palindrome, ladders1234567, binary, trinary, mismatched serial numbers, repeaters, solid numbers like 77777777, etc. Can be big cash for the right buyer.
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That's the plan @kerrislravenhill. I'll keep my eyes pealed for any good looking numbers.
Plus, for some reason the serial numbers starting "AK47" were selling for above face value. I'm sure some people must have thought they were Proper Gangster by having a machine gun number. 🔫
I think this may be worth something, Asians love the number 8 as a lucky number on this almost solid 8 Serial number $50 note.
I have a BA55 Plastic £5 which I am holding on to, don't know if it's worth anything spectacular.
Obviously the photo from AP is a fake because I don't think someone at the Bank of England would put his/hers dirty fingers on a L7,200 note...
!trdo
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Of course the Queen would get the first one, selfish binch! Good luck on picking up a low serial number.
Posted via Steemleo
It is good that UK is making their notes more secure from counterfeiters. That will also make UK's paper money last longer. Get those low numberd bills, dude, and put them away under the mattress!
Although It's not really in the government's interest to make currency last longer. I think that when they first printed paper money, one of the intent was to make money to be spent and circulating or place in banks for re-lending and not hoarded somewhere the way gold and silver is kept in private safes. As bills deteriorate and need to be exchanged, they are taken to banks to be replaced and helps the government track money, which may help crack down on black market activity.
I think I watch too many movies, dude! Have a wonderful day, take care 🥰🌺🤙
Posted via Steemleo
I will be grabbing a few of these from the bank on friday and i will have a look at the serial and dont forget everyones odd obsession for the 007 serial numbers
Very interesting! I wish you luck in obtaining the low serial numbers. That would be very cool! Have a lovely evening!
Wow very impressive, I never thought about bank notes...I may need to fly over to your neck of the woods and check out some banks!!😇
I hope you guys are at higher ground, it looks like you have been flooding bad....
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