Just read in the Daily Mail that £20 banknotes that have the image of Sir Edward Elgar, England’s famed composer, will be withdrawn from circulation at the end of June. You might want to get all those banknotes that are ‘filed’ around your house either spent, put into savings accounts or changed before this date.
Sir Edward Elgar has been on the £20 note since 1999 but from the end of June this year these banknotes will no longer be legal tender.
The £20 note with the Scottish economist and Wealth of Nations author Adam Smith launched 3 years will be the only legal tender £20 banknote.
As the Mail explains, banks, building societies and post offices will continue to accept Elgar notes in customer deposits for several months after the end of June, but have discretion over whether to accept them from non-customers.
- £5 – Elizabeth Fry, prison reformer
- £10 – Charles Darwin, Origin of Species evolutionary theorist
- £50 – Sir John Houblon, first Governor of the Bank of England.
With the current £20 not being the most common banknote and the most common to forgery, the new one has improved security features, including a large silver hologram and metallic thread strip and a new colour tag which shows up under ultra-violet light.
Just wish I had a whole load of the old £20 banknotes that I had to worry about dealing with!