pound coin.Although the paper banknotes have been around since 1695 in the UK, it's time to swap them, says the MoneySavingExpert website.
The page, founded by Martin Lewis, urged Brits to hurry up and use their old notes before they become void.Artist JMW Turner features on the front of the new polymer £20 note which was first launched in 2020.
The paper edition features the face of economist Adam Smith, while the new £50 has Alan Turing and it entered circulation in 2021.You can check which note is old using the old pictures of the £20 and £50 notes on the Bank of England website.It is believed an estimated £19billion worth of paper banknotes are still in circulation.
Households are being told to use up the 775million paper notes before the autumn deadline.There are also £105m old one pound coins in circulation, five years since losing its tender status, says the Royal Mint.
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