1. Identifying a phony paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have completely replaced paper notes considering 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 expects to have issued a ₤ 50 polymer note.
But with paper notes still in circulation and polymer notes having additional security features to make them harder to fake, what should you be watching out for to find if your money is phony?
First, let's look at how to identify a phony paper banknote. If you're specifically thinking about identifying fake plastic notes, scroll directly to point 8.
These are printed on a special product, so make sure you examine how the paper feels.
An authentic banknote has a cloth-like feel, while a fake note will feel more like basic paper.
₤ 50 banknote (Image: Bank of England).
2. Raised print.
Run your finger across the paper note and if it's real, you ought to 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. Examine the metallic thread.
A metallic 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 is woven through the paper-- not just printed on-- so when you hold it approximately the light it should appear as a constant dark line.
This looks like bright green dashes on the front of ₤ 50 notes.
Each dash is really a window which consists of pictures 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 tilted up and down, the images move from side to side and the number '50' and '₤' sign swap locations.
4. Examine the watermark.
If you hold a genuine note up to the light, you ought to see a picture of the Queen's picture.
Nevertheless, if you can still see the watermark when the note is flat and not held up to the light, it's most likely to be a dodgy note.
5. Inspect the print quality.
The printed lines and colours on authentic notes will be detailed and sharp and devoid of spots or blurred edges. So make certain you examine the information thoroughly.
If the quality is Fake money that looks and feels real poor or untidy, you've got yourself a phony!
6. Examine under ultra-violet light.
This isn't so convenient if you have actually just been given a banknote in a store, however if you're truly identified to discover whether your note is fake or real, 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 arbitrarily spread out 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 portrait. On a real note, decorative swirls define the value of the note in little letters and numerals.