I understand a new, plasticized (?) five pound note is now in circulation in England. A news story I read said that the old paper ones will be valid until May 2017.
I'll be coming to London on 28 May. Should I just stick my fiver from my last trip into my scrapbook? Do they mean "until May" as in "to the end of May"?
Thank you!
Always take expired notes to a bank for exchange. I am guessing the deadline would be fuzzy.
I'm sure all the UK folks we have on the forum have gotten them by now, but I did get one in change when I was in UK in September. Much joking, laughing and curiosity about it from the ladies at the till at the Dyrham Park shop where I got it in change. It does feel and look a bit weird!
We've had those darn plastic things here in Canada for a few years now (since maybe 2011 - 2012 for sure). From our $5-100. Those buggers are hard to fold!!
they cease to be legal tender on 5 May 2017 and will no longer be accepted by shops
no harm in bringing it and exchanging at a bank though - the link does say Bank of England but just try a high street bank or post office
The biggest problem is that they stick together.
High street banks don't normally exchange out of date bank notes for non customers, although since this is only just after the withdrawal date maybe they will still do it.
The Bank of England will do the exchange at the public office at the Threadneedle Street HQ. Pop round the corner to their free museum as it is well worth a visit.
Thanks, everyone, for the information!
If it comes down to it, I'll just have a paper souvenir, which I wouldn't mind at all. I have a small collection of non-circulating English coins from the '80s. I always thought I was going to go back, but from '87 to '16 it just didn't happen.
This past summer I followed Rick's advice and brought home as little cash as possible.
As Nicole mentioned, we've had plastic bank notes here for a few years and they're easy to get used to. However, they do stick together at times so it's important to check that when paying bills. We've also gotten rid of pennies, and I'm wondering which country will be next to try that.
Readers of this forum were advised about this back in June - maybe not quite early enough for the OP:
Ken - I wasn't sure about the penny thing but I'm really glad they are gone.
I can't get over the number of coins under 1 GBP that they use...that huge 2 pence coin - come on...that's absurd! ;) Six coins under the one pound coin...no wonder it would take me forever trying to count out my coins (I hate carrying coins and am always trying to foist them off). We have - what - 3 coins under our loonie - .05/.10/.25. I can only imagine it costs way more to produce the 1 and 2 pence than they are worth...
The original bronze alloy of the 1p and 2p coins has been worth more than the face value but I'm not sure whether they are at today's prices. They are currently made from copper plated steel.
The UK coins do at least gradate properly in size/shape as they were rethought in late 1980s. The alternative concept back then for the 5p then was an even larger bronze-coloured coin, and I suspect they are glad they went with the small silver-coloured one - although the 2p in that schema was to be dropped.
I personally would like to see the US drop the penny and the paper dollar. I bet there would be a considerable cost savings.
"I bet there would be a considerable cost savings."
That's exactly the reason we got rid of $1 & $2 bank notes and the penny. It was costing more to produce the currency than they were worth. My pockets are a bit heavier now with Loonies and Toonies, but really no big deal. I don't think anyone misses the Penny as the majority use Debit or something like Apple Pay these days.
I wish I could say it like Ringo: It's lovely.
I like the 1 and 2pound coins, same with the 10pence piece. The one coin I find more confusing is the 20 pence piece. No problem with carrying coins since I put them in a 35mm film container.
