New British £50 note by November NEWS
A new £50 note is being issued next month with a range of new security features designed to outwit crooks.
A new £50 note is being issued next month with a range of new security features designed to outwit crooks.
The Bank of England is staying quiet for now on what the special anti-counterfeiting measures are - although it promises to reveal all when the new notes enter circulation.
The last £50 note hit the streets in 1994 featuring Sir John Houblon, the first Governor of the Bank of England. The new £50 tender will display Industrial Revolution Partners Matthew Boulton and James Watt who developed the use of the steam engine in the cotton Spinning Industry. Both notes will be in circulation for a while.
James Watt is also responsible for the term 'horse power' and lends his name to the metric unit of power 'wattage'.
Very few of us are lucky enough to actually have many dealings with fifties. The Bank of England puts a mere 23 million into circulation, compared with 415 million £20 notes and 303 million £10 notes.
If we are lucky enough to own one for a while we may even find ourselves unable to spend them as many businesses are highly suspicious. With any luck, the new notes will add an element of security and spending them on the high street won't be problematic.
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