Bank of England £5 note
(United Kingdom) | |
---|---|
Value | £5 |
Width | 125 mm |
Height | 65 mm |
Security features | See-through window, finely detailed metallic image, coloured border which changes from purple to green when the note is tilted, silver foil patch, microlettering, textured print |
Paper type | Polymer |
Years of printing |
1793-2017 2016–present (current design) |
Obverse | |
Design | Queen Elizabeth II |
Design date | 13 September 2016 |
Reverse | |
Design | Winston Churchill |
Design date | 13 September 2016 |
The Bank of England £5 note, also known as a fiver, is a banknote of the pound sterling. It is the smallest denomination of banknote issued by the Bank of England. In September 2016, a new polymer note was introduced, featuring the image of Queen Elizabeth II on the obverse and a portrait of Winston Churchill on the reverse. The old paper note, first issued in 2002 and bearing the image of prison reformer Elizabeth Fry on the reverse, will be phased out by 5 May 2017.[1]
History
Five pound notes were introduced by the Bank of England for the first time in 1793, following the ten pound note which had been introduced in 1759 as a consequence of gold shortages caused by the Seven Years' War. The earliest notes were handwritten, and were issued as needed to individuals. These notes were written on one side only and bore the name of the payee, the date, and the signature of the issuing cashier. With the exception of the Restriction Period between 1797 and 1821 when the French Revolutionary Wars and the Napoleonic Wars caused a bullion shortage these notes could be exchanged in full, or in part, for an equivalent amount of gold when presented at the bank. If redeemed in part, the banknote would be signed to indicate the amount that had been redeemed. From 1853 printed notes replaced handwritten notes, with the declaration "I promise to pay the bearer on demand the sum of five pounds" replacing the name of the payee. This declaration remains on Bank of England banknotes to this day. A printed signature of one of three cashiers appeared on the printed notes, though this was replaced by the signature of the Chief Cashier from 1870 onward.[2]
The ability to redeem banknotes for gold ceased in 1931 when Britain stopped using the gold standard.[2] Metal thread was introduced on the five pound note in 1945 as a security feature. The printed black and white notes were replaced from 1957 onward by new, two-sided notes. The first two-sided £5 notes (series B) were blue and featured a bust of Britannia on the front and a lion on the back. Series C notes, first introduced in 1963, were the first notes to feature an image of the monarch on the front, with Britannia being relegated to the back. From 1971 onward with the introduction of series D a British historical figure was portrayed on the reverse; the soldier and statesman the Duke of Wellington in this case. Series E notes, first issued in 1990 are multicoloured, although they are predominantly turquoise-blue. These notes feature a portrait of the railway pioneer George Stephenson, as well as for the first time 'windowed' metal thread; this thread appears as a dashed line, yet forms a single line when held up to the light.[3]
In December 2013 the Bank of England announced that the next £5 note would be printed on polymer, rather than cotton paper.[4] This followed the announcement in April 2013 that Elizabeth Fry will be replaced by Winston Churchill on the next £5 note which will enter circulation in 2016.[5] The full details of the design and security features were announced on 2 June 2016, and the note was introduced on 13 September 2016.[6] Images on the reverse include a 1941 portrait of Churchill by Yusuf Karsh, a view of the Houses of Parliament, and a background image of Churchill's Nobel Prize in Literature, while the obverse features an image of Queen Elizabeth II. The 2016 note replaces a 2002 note featuring prison reformer Elizabeth Fry on the reverse. The old £5 note will be phased out by 5 May 2017. In November there was a controversy when the Bank of England confirmed that the new notes contain traces of tallow.[7] Some vegetarians and vegans are unhappy with the note, and the manufacturer is looking into changing the recipe of the polymer used.[8]
Designs
Note | First issued | Last issued | Ceased to be legal tender | Colour | Size | Design | Additional information |
---|---|---|---|---|---|---|---|
White (1793) | 1793 | Unknown | 1 March 1946 | Monochrome (printed on one side only) | 200mm x 113mm (may vary) | ||
White (1945) | 1945 | 1957 | 13 March 1961 | Monochrome (printed on one side only) | 211mm x 133mm | Incorporated metal thread for first time: permanent feature thereafter | |
Series B | 21 February 1957 | 1963 | 27 June 1967 | Blue | 158mm x 90mm | Front: Helmeted Britannia; Back: Lion | |
Series C | 21 February 1963 | 1971 | 31 August 1973 | Blue | 140mm x 85mm | Front: Queen Elizabeth II; Back: Seated Britannia | First £5 note to carry portrait of monarch |
Series D | 11 November 1971 | 1990 | 29 November 1991 | Predominantly blue | 145mm x 78mm | Front: Queen Elizabeth II; Back: Duke of Wellington | |
Series E | 7 June 1990 | July 2002 | 21 November 2003 | Multicoloured (predominantly turquoise-blue) | 135mm x 70mm | Front: Queen Elizabeth II; Back: George Stephenson | Those notes issued from March 1993 featured the denomination symbol "£5" in bolder colours |
Series E (variant) | 21 May 2002 | 2016 | May 2017 | Multicoloured (predominantly turquoise-blue) | 135mm x 70mm | Front: Queen Elizabeth II; Back: Elizabeth Fry | |
Series F (polymer) | 13 September 2016 | Multicoloured (predominantly turquoise-blue) | 125mm x 65mm | Front: Queen Elizabeth II; Back: Winston Churchill | First Bank of England note in polymer | ||
See also
References
- ↑ "Polymer £5 Note (Sir Winston Churchill) – Design Features - Bank of England". Bank of England.
- 1 2 3 "A brief history of banknotes". Bank of England. Retrieved 27 April 2016.
- 1 2 "Withdrawn banknotes reference guide" (PDF). Bank of England. Retrieved 27 April 2016.
- ↑ "New banknotes to be printed on polymer". Bank of England. Retrieved 27 April 2016.
- ↑ "Sir Winston Churchill to feature on new banknote". BBC News. Retrieved 27 April 2016.
- ↑ "The New Fiver is issued today - Bank of England". Bank of England.
- ↑ "Bank of England urged to make new £5 note vegan-friendly". The Guardian. 29 November 2016. Retrieved 29 November 2016.
- ↑ "Cambridge Rainbow vegetarian cafe refuses new £5 note - BBC News". BBC Online. 3 December 2016. Retrieved 3 December 2016.
- ↑ "The New Fiver". Bank of England. Retrieved 2 June 2016.