New £20 banknote issued
Howard Lake | 12 March 2007 | News
A new £20 note will be issued tomorrow by the Bank of England. The image of Sir Edward Elgar on the reverse will be replaced with that of Adam Smith, “one of the fathers of modern economics”. So, don’t be surprised if your collecting tins or shop tills contain a few of these from tomorrow onwards.
The new note is the same size and predominately the same colour as the old-style £20 note but it contains enhanced security features.
Both versions of the note will circulate in tandem while the old-style Elgar note is progressively withdrawn from circulation. As is usual practice, the Bank of England will then announce the date on which it will cease to be legal tender. As with all Bank of England notes, however, they can always be exchanged for their face value at the Bank in London.
At the end of December 2005 there were around 1.2 billion (1,234,900,000) £20 banknotes in circulation, representing 55% of total notes by volume, 63% by value.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.