Overview Banknotes were originally IOUs for gold deposits held at the Bank of England. People used them to pay for things safe in the knowledge that they were backed by the promise to pay the equivalent value in gold. This confidence in banknotes is important les machines PDF keeping the whole economy functioning.
It is for this reason that we work hard to ensure that banknotes are high quality, durable and difficult to counterfeit. Coins are manufactured and issued by the Royal Mint. See their website for information on all coins issued in the UK. Current banknotes Our banknotes are designed to be difficult and time consuming to copy. We work closely with De La Rue, the company that currently prints our banknotes, to ensure that new banknotes are of a uniformly high quality. Every note has a unique serial number.
10 notes are printed on polymer. 20 note, to be issued in 2020, will be made from polymer. 5 note featuring Sir Winston Churchill entered circulation on 13 September 2016. 10 note, featuring Jane Austen entered circulation on 14 September 2017. 20 note, featuring the economist Adam Smith, was issued on 13 March 2007.
50 note, featuring Matthew Boulton and James Watt, was issued on 2 November 2011. Legal tender’ is a term that people often use, but when it comes to what can or can’t be used to pay for things, it has little practical use. Legal tender has a very narrow and technical meaning, which relates to settling debts. It means that if you are in debt to someone then you can’t be sued for non-payment if you offer full payment of your debts in legal tender.