1. Identifying a fake paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have completely changed paper notes given that 2018, while this year has seen the release of polymer ₤ 20 notes into flow.
All notes will be polymer by the end of 2021, when the Bank of England anticipates to have actually issued a ₤ 50 polymer note.
However with paper notes still in circulation and polymer notes having extra security functions to make them harder to fake, what should you be watching out for to identify if your money is fake?
Initially, let's look at how to spot a phony paper banknote. If you're specifically interested in identifying fake plastic notes, scroll directly to point 8.
These are printed on an unique material, so make sure you inspect how the paper feels.
An authentic 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 throughout the paper note and if it's real, you must have the ability to feel the raised print on areas 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. Examine the metal thread.
A metal thread is embedded in every paper banknote.
This looks like silver dashes on the back of paper ₤ 20 and ₤ 50 notes (see more information on identifying fake paper ₤ 20 notes on this Bank of England page).
The thread Fake money that looks and feels real is woven through the paper-- not just printed on-- so when you hold it up to the light it must look like a constant dark line.
This appears as bright green dashes on the front of ₤ 50 notes.
Each dash is really a window which includes images 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 '₤' symbol swap places.
4. Check the watermark.
If you hold a real note approximately the light, you ought to see a picture of the Queen's picture.
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. Check the print quality.
The printed lines and colours on genuine notes will be detailed and sharp and totally free from smudges or blurred edges. So make sure you examine the information carefully.
If the quality is bad or unpleasant, you've got yourself a phony!
6. Examine under ultra-violet light.
This isn't so handy if you have actually simply been offered a banknote in a store, however if you're truly identified to discover whether your note is phony or genuine, put it under ultra-violet light.
If it's the genuine offer, its value will appear in intense red and green numbers while the background will be dull on the other hand.
The paper ₤ 20 and ₤ 50 notes likewise have bright red and green flecks arbitrarily spread out over the front and back of the note.
7. Use a magnifying glass.
Use a magnifying glass to look carefully at the lettering below the Queen's portrait. On an authentic note, decorative swirls define the worth of the note in small letters and characters.