Bank of England mulls switch to plastic banknotes

hmmm..fiat, fake, plastic, same difference…

FOX6Now.com

LONDON (CNNMoney) — The Bank of England is considering a switch from paper to plastic banknotes — which would end more than 300 years of paper currency.

The central bank says polymer notes are cleaner, more secure and more durable than their paper counterparts. The ability to build in sophisticated security features means the notes are more resistant to counterfeit. And they last longer: a five pound note has a lifespan of about 2 years. The polymer version would stick around for at least 5 years.

The Bank of England has been investigating the benefits of polymer over paper for the past three years. Now it plans to take the proposed new notes on a two-month tour of the U.K. to gauge public support for the move. A final decision is due in December.

The switch would bring Britain in step with more than 20 countries that currently issue polymer…

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