The Bank of England plans to print a £10 plastic note around June or July, 2017.
UPDATE Beware the paper £5 note will end its life in May 2017. You will have to spend it by then or hand it into bank.
Thursday, 2 June, 2016 marks the day of new plastic bank notes being issued. To start with a polymer £5 note with Churchill featured on it is the first to be launched.
It is planned that next year a £10 note will follow and by 2020 a £20 note to be issued.
The Bank of England assured us that improved security has been their main concern. It is also cleaner and last longer. It is assumed that the new plastic notes will last two and half longer than its paper counterpart.
Experts belief it would save the bank £100million in printing paper money during a decade.
However, the long standing request to scrap the copper penny and twopence is still being ignored. Canada and Ireland done it years ago. As a matter of fact the penny cost more to be produce than its worth. At the moment there are 11 billion pennies and 6.6 billion twopences in circulation. The good old penny which was once so appreciated plus the twopences nobody think anything of it any more. Banks and retailers have to handled them and it cost them millions of pounds every year.
Source Evening Standard
Since the Bank of England moved into the 21st century with producing polymer bank notes they could make another step to rid the customers, bank and retailers of being loaded with coppers.
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