Paper or plastic? British pounds take a note from Australia

The Bank of England thinks paper pounds are rubbish. After 300 years of cotton-based paper notes, British pounds could be switching to polymer production, a process first designed by Aussies more than 25 years ago.

According to the Bank, plastic notes are cleaner, greener, more secure, cheaper to produce, and last at least 2.5 times as long as their paper predecessors. However, Deputy Governor Charles Bean noted that “the Bank of England would print notes on polymer only if we were persuaded that the public would continue to have confidence in, and be comfortable with, our notes.” A two-month public consultation period begins today, with a final decision expected to be announced in December.

If approved, five- and ten-pound notes will be the first to feel the switch, with the Churchill £5 note welcomed into wallets in 2016 at the earliest. Australia has been using plastic notes since 1988, and over 20 countries currently opt for plastic over paper, including New Zealand, Mexico, Singapore, Canada, and Fiji.

No matter how you spend money, making it is even better. Interested in our #1 dividend-paying stock? Discover The Motley Fool’s favourite income idea for 2013-2014 in our brand-new, FREE research report, including a full investment analysis! Simply click here for your FREE copy of “The Motley Fool’s Top Dividend Stock for 2013-2014.”

More reading

Motley Fool contributor Justin Loiseau has no position in any stocks mentioned in this article. You can follow him on Twitter @TMFJLo.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!