1. Identifying a fake paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have entirely replaced paper notes considering that 2018, while this year has seen the release of polymer ₤ 20 notes into blood circulation.
All notes will be polymer by the end of 2021, when the Bank of England expects to have released a ₤ 50 polymer note.
But with paper notes still in flow and polymer notes having extra safety functions to make them more difficult to counterfeit, what should you be watching out for to identify if your money is fake?
Initially, let's take a look at how to spot a fake paper banknote. If you're particularly thinking about spotting fake plastic notes, scroll directly to point 8.
These are printed on an unique material, so ensure you inspect how the paper feels.
A real banknote has a cloth-like feel, while a phony note will feel more like standard paper.
₤ 50 banknote (Image: Bank of England).
2. Raised print.
Run your finger across the paper note and if it's authentic, you must have the ability to feel the raised print on locations such as the words 'Bank of England' on the front.
If it's a counterfeit, the note is unlikely to have a textured feel to it and will feel flat all over.
3. Check the metallic thread.
A metallic thread is embedded in every paper banknote.
This appears as silver dashes on the back of paper ₤ 20 and ₤ 50 notes (see more info on finding phony paper ₤ 20 notes on this Bank of England page).
The thread is woven through the paper-- not simply printed on-- so when you hold it approximately the light it need to look like a constant dark line.
This looks like intense green dashes on the front of ₤ 50 notes.
Each dash is actually a window which contains pictures of the '₤' sign and the number '50'. When the note is slanted from side to side, the images go up and down.
When the note is slanted up and down, the images move from side to side and the number '50' and '₤' sign swap locations.
4. Inspect the watermark.
If you hold an authentic note as much as the light, you ought to see an image of the Queen's portrait.
However, if you can still see the watermark when the note is flat and not held up to the light, it's likely to be a dodgy note.
5. Examine the print quality.
The printed lines and colours on real notes will be detailed and sharp and devoid of spots or blurred edges. So ensure you inspect the detail carefully.
If the quality is bad or unpleasant, you have actually got yourself a fake!
6. Examine under ultra-violet Buy fake money light.
This isn't so convenient if you have actually just been given a banknote in a shop, however if you're truly identified to discover whether your note is phony or authentic, put it under ultra-violet light.
If it's the real deal, its worth will appear in brilliant red and green numbers while the background will be dull in contrast.
The paper ₤ 20 and ₤ 50 notes likewise have brilliant red and green flecks randomly topped the front and back of the note.
7. Utilize a magnifying glass.
Use a magnifying glass to look carefully at the lettering underneath the Queen's picture. On a real note, ornamental swirls define the worth of the note in little letters and numerals.