Halt On Faulty New 5 Note (Serial numbers can be rubbed off!)

Sky News ^ | 5.28.02

[mhking]

Halt On Faulty New £5 Note

The Bank of England has asked banks to stop issuing its new £5 notes after discovering serial numbers on the currency can be rubbed off.

The Bank said it had received around "half a dozen" calls from members of the public at the end of last week relating to serial numbers on the notes coming off.

Tests have since showed that on some notes it is possible to remove both of the serial numbers if the note is rubbed hard.

Precaution

The Bank said: "As a precautionary measure, we have this afternoon (Monday) asked the banks and the Post Office to suspend further issuance of the new £5 note while we carry out further tests and investigative work into what might have caused the fault and how widespread the problem is." The Bank said around 10 million of the new £5 notes - launched on Tuesday - have been distributed but it believed a "substantial proportion" of these were still in bank or Post Office branches and had not been issued to the general public.

It said in a statement: "There are around 200 million £5 notes of the previous design in circulation, which should provide ample supply for the public's needs for the time being."

It added the serial numbers were there to identify notes as unique items and allow the Bank to trace their place of origin.

Exchange

The bank said there was "no problem at all" with any of the anti-counterfeiting security features on the note.

"The absence of all or part of a serial number does not affect the value or authenticity of a note," the statement said.

"But if members of the public are concerned, they should take them to a bank where they can be exchanged."

The notes, made at the Bank's printing works in Debden, Essex, feature a portrait of the social reformer, Elizabeth Fry.

On their launch, Merlyn Lowther, the Bank's chief cashier, whose signature appears on the notes, said: "This is the most secure £5 note we have produced."

[NautiNurse]

I guess it would be pretty tough to make a counterfeit note with "only" serial numbers that could rub off.

[TC Rider]

Now, if only they could rub off QE2's little mustache.

[DETAILER]

On their launch, Merlyn Lowther, the Bank's chief cashier, whose signature appears on the notes, said: "This is the most secure £5 note we have produced."

Off with his head!

[G.Mason]

Absolutely earth shattering!

A Euroweenie's nightmare!

Hell, this is almost as important as the "World Cup".