Today the Bank of England has released a brand new £5 note - the first ever polymer (or "plastic") banknote they have issued.
Polymer notes are made from a flexible plastic, which is resistant to dirt and water, making them considerably more durable. Each note is expected to last around five years - two and a half times longer than their paper counterparts.
The new banknote itself features a familiar portrait of much-loved Prime Minister Winston Churchill along with a number of new security features, including a see-through window and foil Elizabeth Tower - which is gold on the front and silver on the back. It also features multiple holograms and micro-lettering under the Queen's portrait - which can only be viewed under a microscope.
The new £5 will pave the way for an overhaul of other Bank of England banknotes, with a new £10 note planned for next summer and a new £20 note by 2020. Each one will be around 15% smaller than the current paper notes but will retain the traditional look of the existing notes, with a portrait of Her Majesty the Queen on the front, and a historic character on the back.
Will the new £5 note be collectable?
As the first of its kind, the new Churchill £5 note is likely to be popular with collectors and early serial numbers on the new notes released today will be particularly sought after.
The collectability of any banknote also depends greatly on its condition, and the challenge for any prospective collector, either in the UK or internationally, lies in securing an early issue in good or uncirculated condition which becomes increasingly difficult as time goes by.
Mark the moment the UK banknote changed forever...
Just 5,000 new UK Polymer £5 Notes have been reserved for a Limited Edition DateStamp™ release.
This is the VERY FIRST time that a DateStamp banknote has been released.
Click here to add one to your collection.
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