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Don't hoard fivers for next year

Often the advice is to keep a little amount of money if you know you are returning, especially some small denomination notes / coins.

However, this year a new plastic £5 note (Churchill) will be start to be issued on 13 September. The withdrawal period for the current Fry note is unusually short. It will cease to be legal tender in May 2017. I think the reason for this is that this series of notes are all smaller than the current ones, so the Fry note needs to be got out of the way before the new £10 (Austin) note is issued in the summer of 2017.

Of course like all Bank of England notes right back to 1694 any old fivers will be exchangeable at face value at the Bank indefinitely.

Details on the new note: http://www.thenewfiver.co.uk/

Posted by
3522 posts

And don't forget that the £1 coin is also changing in March 2017 from a round coin to a 12 sided one. No indication when the round pound is being actually withdrawn.

And if I had £5 of 1694 Bank of England notes, I could probably get a lot more than £5 by selling at auction. :-)

Posted by
5466 posts

The oldest known surviving BoE note dates from 1699 and is on display in the Bank's museum. It was issued for the odd amount of £555. Still there might be something older tucked inside an old book or something somewhere.

Posted by
15794 posts

Oh dear, now the dilemma . . . plan a trip to the UK soon or lose the fiver I've had in a drawer since Belfast, 2 years ago.