1. Identifying a phony paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have actually completely changed paper notes because 2018, while this year has actually seen the release of polymer ₤ 20 notes into circulation.
All notes will be polymer by the end of 2021, when the Bank of England expects to have released a ₤ 50 polymer note.
However with paper notes still in circulation and polymer notes having extra safety functions to make them harder to counterfeit, what should you be watching out for to identify if your money is fake?
Initially, let's look at how to spot a fake paper banknote. If you're particularly interested in spotting phony plastic notes, scroll directly to point 8.
These are printed on a special material, so make certain you check 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 across the paper note and if it's real, you should have the ability to feel the raised print on areas such as the words 'Bank of England' on the front.
If it's a fake, the note is unlikely to have a textured feel to it and will feel flat all over.
3. Inspect the metal 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 details on spotting fake paper ₤ 20 notes on this Bank of England page).
The thread is woven through the paper-- not just printed on-- so when you hold it up to the light it ought to appear as a continuous dark line.
This appears as brilliant green dashes on the front of ₤ 50 notes.
Each dash is really a window which includes images of the '₤' symbol and the number '50'. When the note is tilted from side to side, the images move 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 a real note as much as the light, you must see a picture 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. Check the print quality.
The printed lines and colours on genuine notes will be detailed and sharp and free from smudges or blurred edges. So make sure you examine the information carefully.
If the quality is poor or messy, you have actually got yourself a fake!
6. Check under ultra-violet light.
This isn't so helpful if you've just been offered a banknote in a shop, but if you're really figured out to discover out whether your note is phony or authentic, put it under ultra-violet light.
If it's the counterfeit money for sale real offer, its value will appear in brilliant red and green numbers while the background will be dull in contrast.
The paper ₤ 20 and ₤ 50 notes also have bright red and green flecks arbitrarily spread over the front and back of the note.
7. Use a magnifying glass.
Utilize a magnifying glass to look closely at the lettering underneath the Queen's picture. On an authentic note, decorative swirls spell out the worth of the note in little letters and numerals.