The new £50 banknote was released into circulation this week in the UK, but the Bank of England said consumers should be aware of all the new security features on the note in order to avoid any fakes.
Some simple measures for verifying the authenticity of the new notes include:
- checking for the unique feel of the banknote paper and the raised print on the notes
- looking for the metallic thread that appears as silver dashes on the front of the note, which appears as a continuous dark line when held to the light
- identifying the watermark of the Queen’s portrait
- verifying that printed lines and colours on the notes are sharp, clear and free from smudges or blurred edges
- finding the hologram on the foil patch that, when tilted, changes between a brightly coloured picture of Britannia and the numerical value of the note
- placing the note under an ultraviolet light where the value appears in bright red and green numbers against a dull contrasted background
- using a magnifying glass to look for microprinting located beneath the Queen’s portrait that spells out the value of the note.
The new £50 note features the portraits of entrepreneur Matthew Boulton and engineer James Watts – a duo that pioneered the use of steam engines in textile manufacturing during the 18th century. This marks the first time in the history of UK banknotes that two portraits will be featured on the back of the note.
This redesign also marks the first time since 1994 that this particular note gets a new look.
The £50 banknote is one of the most commonly used notes in circulation, according to BBC news.