1. Identifying a phony paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have actually completely replaced paper notes since 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 anticipates to have provided a ₤ 50 polymer note.
But with paper notes still in flow and polymer notes having extra safety features to make them harder to fake, what should you be watching out for to spot if your money is phony?
Initially, let's look at how to spot a phony paper banknote. If you're particularly thinking about spotting fake plastic notes, scroll directly to point 8.
These are printed on an unique product, 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 basic paper.
₤ 50 banknote (Image: Bank of England).
2. Raised print.
Run your finger throughout the paper note and if it's genuine, you ought to be able to feel the raised print on locations such as the words 'Bank of England' on the front.
If it's a fake, the note is not likely 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 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 bright Fake money that looks and feels real green dashes on the front of ₤ 50 notes.
Each dash is actually a window which contains images of the '₤' symbol 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.
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. Examine the print quality.
The printed lines and colours on authentic notes will be detailed and sharp and totally free from smudges or blurred edges. So make sure you check the detail thoroughly.
If the quality is poor or messy, you've obtained a phony!
6. Inspect under ultra-violet light.
This isn't so helpful if you've just been offered a banknote in a store, but if you're actually figured out to discover out whether your note is fake or genuine, put it under ultra-violet light.
If it's the genuine deal, its value will appear in intense red and green numbers while the background will be dull in contrast.
The paper ₤ 20 and ₤ 50 notes also have intense 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 an authentic note, ornamental swirls spell out the worth of the note in small letters and characters.