Re: Plastic Notes

I've found quotes from the BBC which doesn't give full thumbs up either:

So why don't more countries cash in on this technology?

Today, 23 countries use polymer banknotes, but only six have converted all denominations into plastic.

Tom Hockenhull, curator of the Modern Money exhibition at the British Museum, says one reason is that the security gap between paper and plastic notes is closing.

It is now possible to make "hybrid notes" - paper notes with a transparent polymer window - he points out.

"Paper is much more secure than it used to be and the new [British] £50 note, for example, has features that are extremely hard to counterfeit," he adds.

Meanwhile counterfeiters are making progress with polymer. "Polymer is very hard to counterfeit, but it hasn't stopped people trying: good imitations do appear from time to time," Mr Hockenhull says.

He also points to some notable disadvantages of polymer banknotes:

They are harder to fold
They are more slippery, which makes them harder to count by hand
Some less developed countries may not have the facilities to recycle them - and when they burn they pollute the air

In addition, polymer notes cost more to produce in the short-term, which could be a drawback for developing countries. The payback from their extra durability only comes over time.


Haiti and Cost Rica were the first to trial polymer banknotes in the 1980s, using American technology - but the ink smudged
A plastic note was introduced in the Isle of Man in 1983, using British technology, but withdrawn in 1988 - again because of problems with the ink

I really don't understand why, if the polymer notes are so good, why have so few countries converted over the past 30+ years?

A cynical side of me suspects this may be coming about as a part of some trade deal but, I could be wrong.


http://www.bbc.co.uk/news/magazine-15782723
Australia, the first country to go purely plastic, is now the world's sole polymer banknote producer

Re: Plastic Notes

One final thought: the minute the technology world (or maybe underworld) is told "this is extremely difficult to fake" it's pretty much a challenge for someone to do it. As soon as the banks said it was almost impossible to counterfeit the money, someone will do it to simply prove it can be done.

Re: Plastic Notes

You're probably right, ben, but all I can say is that we have had them here for 25 years and no one sees a problem with them.

And just from a personal use point of view they don't tear and they don't get destroyed in the wash and the bright colours make them much easier to distinguish the denominations than UK notes.We have $5, $10, $20, $50 and $100 notes, all very different colours.

We come to England every year and one thing that does amazes me is that you haven't got rid of coppers. My purse immediately fills up with them and they are very heavy. We haven't had anything less than a 5 cent piece since 1989 and it isn't a problem. Of course, people complained initially but they got over that. Apparently they are more expensive to make than their face value.

Re: Plastic Notes

Not to mention they are all different sizes. You have to admit though that if you present a $100 anywhere you get very suspicious looks. Cashiers hold them up to the light and see if the colour rubs off. Don't know why you so rarely see them.

When I get overseas visitors they always arrive with $100 notes from the money changers, my first job is to swap them for $50s.

Re: Plastic Notes

Yes, I don't see the need for the smaller coins (would producers then put round up instead of down when it comes to pricing? Probably would!) because they do become very heavy and you end up not being able to close your purse properly don't you.

As mentioned earlier, I tend to use my debit card for almost every purchase now, it makes life much easier.