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| British pounds |
If you like holding onto British pounds you will not have to worry about the paper currency being damaged as the Bank of England is pushing ahead with plans to turn the notes into plastic.
The British Central Bank has begun a two-month public consultation about turning the currency into plastic, and expects to make a final decision later this year, but it has already established a compelling case for plastic.
It is harder to forge, more durable, greener, cleaner and cheaper, the bank said. Fundamentally, plastic money can survive a washing machine cycle unscathed.
If approved, the bank will also introduce smaller bills, so it will be easier to fit inside handbags and purses.
The first note to receive the change would be the Sir Winston Churchill 5 pound bill, which could be in circulation in early 2016. That would be followed shortly by the Jane Austen 10 pound note.
Studies conducted by the bank suggested that the public was ready for the change.
Plastic notes would spring back when folded, while some have expressed concerns about the money slipping out of one’s hands. Also, it can melt when exposed to temperatures above 120 degrees, so it can be damaged by ironing, for example, the bank warned.
On the other hand, the plastic notes will be water-resistant and last at least 2.5 times longer than paper money, which are made from cotton pulp combined with other fibers.
The five pound paper bills only last about six months, while a plastic replacement could survive up to two years, the bank said.