The bank of England have announced that on the 2nd of November (2011), a new design for the £50 note will be introduced!
The new design was announced early in 2009, and in late 2011 it will come into circulation. The new design features entrepreneur ‘Mattthew Boulton’ and engineer ‘James Watt’, who pioneered the use of steam engines in manufacturing involving textiles. Also, it has been announced that the new note will have a wider range of security features. The new design is also unique because it features both figures on the reverse side of the note, it’s the first time 2 figures have been placed on the same side of a note.
The newly designed note will be realeased into circulation with the current design featuring ‘Sir John Houlbon’, the first governor of the Bank of England. The current design will eventually be removed from circulation at a date yet to be announced.
Designs on the £50 note are rarely changed! Since 1725 the design has seldom changed, for 218 years (725-1943) it was simply a plain white note.
Here a few other interesting facts:
. There are currently 210 million, £50 notes in circulation. Making a total of £10.5 billion or £10,500,000,000 from £50 notes.
. If you thought that number was big, wait until you read this. There are currently 1.55 billion, £20 notes in circulation. Making a total of £31 billion or £31,000,000,000 from £20 notes.
. The total of all the £50 notes in Britain, has increased by 84% in 7 years.
Will you be looking out for the new £50 note design? Are you shocked by the total value of the notes? Share your view now by clicking ‘Read More & Comment’!
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