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New £50 note to arrive 2nd November

October 3, 2015

banking

Image via The BBC

The Bank of England has announced that a new £50 note will be released on the 2nd November.

The design was revealed in 2012 and features two promenent figures from the textiles industry – entrepreneur Matthew Boulton and engineer James Watt. It will be the first time ever that two portraits will feature on the reverse site of a banknote.

The new banknote will also have a whole new host of security features which will make forgery even harder, but these are being kept secret until the note goes into circulation.

There are 210 million £50 notes in circulation, worth £10.5 billion in total. The £50 note was first introduced in 1725, and was white in colour for around 200 years until 1943.

The current Houblon note was introduced in 1994 and will continue to be in circulation for some time yet. However, it will be withdrawn eventually and the Bank of England will come out with a withdrawal date nearer the time.

Are you excited about the new £50 note? Do you think the new security features will deter counterfeiters? Let you know what you think in the comments section below!

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