1. Spotting a fake paper or polymer note
Polymer ₤ 5 and ₤ 10 notes have entirely replaced paper notes since 2018, while this year has seen the release of polymer ₤ 20 notes into blood circulation.
All notes will be polymer by the end of 2021, when the Bank of England expects to have actually issued a ₤ 50 polymer note.
But with paper notes still in blood circulation and polymer notes having additional safety functions to make them more difficult to counterfeit, what should you be watching out for to identify if your money is fake?
Initially, let's take a look at how to spot a fake paper banknote. If you're particularly thinking about spotting fake plastic notes, scroll straight to point 8.
These are printed on an unique product, so make sure you inspect how the paper feels.
A real banknote has a cloth-like feel, while a phony note will feel more like basic paper.
₤ 50 banknote (Image: Bank of England).
2. Raised print.
Run your finger across the paper note and if it's authentic, you need to be able to feel the raised print on areas such as the words 'Bank of England' on the front.
If it's a counterfeit, the note is unlikely to have a textured feel to it and will feel flat all over.
3. Inspect the metal thread.
A metal thread is embedded in every paper banknote.
This looks like silver dashes on the back of paper ₤ 20 and ₤ 50 notes (see more details on identifying phony paper ₤ 20 notes on this Bank of England page).
The thread is woven through the paper-- not simply printed on-- so when you hold it approximately the light it should appear as a continuous dark line.
This appears as bright green dashes on the front of ₤ 50 notes.
Each dash is actually a window which contains images of the '₤' symbol and the number '50'. When the note is slanted from side to side, the images go up and down.
When the note is slanted up and down, the images move from side to side and the number '50' and '₤' sign swap places.
4. Inspect the watermark.
If you hold an authentic note as much as the light, you ought to see an image of the Queen's portrait.
However, if you can still see the watermark when the note is fake money for sale flat and not held up to the light, it's most likely to be a dodgy note.
5. Examine the print quality.
The printed lines and colours on authentic notes will be detailed and sharp and devoid of smudges or blurred edges. So make sure you check the information thoroughly.
If the quality is bad or untidy, you've obtained a phony!
6. Inspect under ultra-violet light.
This isn't so useful if you've simply been provided a banknote in a shop, however if you're actually identified to learn whether your note is phony or authentic, put it under ultra-violet light.
If it's the real offer, its worth will appear in bright red and green numbers while the background will be dull in contrast.
The paper ₤ 20 and ₤ 50 notes likewise have brilliant red and green flecks randomly spread out over the front and back of the note.
7. Use a magnifying glass.
Utilize a magnifying glass to look carefully at the lettering beneath the Queen's picture. On an authentic note, decorative swirls define the value of the note in little letters and numerals.