The Bank of England’s new £5 note has been unveiled on the Isle of Wight as part of a regional tour for the New Fiver. Isle of Wight Chamber members attended an invite-only event at Osborne where the Bank of England’s Chief Cashier Victoria Cleland answered questions about the new note. Chamber members were able to see, hold and even take selfies with the new banknote which will be issued in September.
The New Fiver is cleaner, safer and stronger than paper notes. The introduction of polymer banknotes allows for a new generation of security features which make it even harder to counterfeit. The note is also resistant to dirt and moisture and so remains in much better condition for longer. The strength of the polymer material means that The New Fiver is expected to last at least 2.5 times longer – around 5 years – even after being folded into wallets and scrunched up in pockets.
The New Fiver’s security features include:
- A see-through window featuring the Queen’s portrait. The border of the window changes from purple to green.
- The Elizabeth Tower (Big Ben) shown in gold foil on the front of the note and silver on the back.
- A hologram which contains the word ‘Five’ and changes to ‘Pounds’ when the note is tilted.
- A hologram of the coronation crown which appears 3D and multi-coloured when the note is tilted.
- A green foil hologram of the maze at Blenheim Palace, Churchill’s birthplace and ancestral home.
- Micro-lettering beneath the Queen’s portrait with tiny letters and numbers that are visible under a microscope.
- The words ‘Bank of England’ printed in intaglio (raised ink) along the top of the note.
