Saturday, February 5, 2011

Polymer / Plastic Banknotes

Earlier, I started collected my banknotes randomly. But somehow my interests in polymer / plastic banknotes increases and now my main interest in to collect polymer banknotes. Unfortunately there are some countries that issues plastic banknotes in these days comparing to countries issuing paper banknotes. But this new phenomena of plastic banknotes are increasing with time. I hope and pray that in very few years, most of the countries / territories adopted to issue plastic banknotes.
Polymer banknotes were first issued by Australia (Reserve Bank of Australia) in 1988 with collaboration with Commonwealth Scientific and Industrial Research Organization (CSIRO). These banknotes are made from the polymerbiaxially oriented polypropylene (BOPP) that enhances the durability of the banknotes. Plastic or polymer banknotes are come up with more security features, previously not available in paper money to make counterfeiting more difficult.



Countries issues polymer banknotes in alphabetical order:

Australia, Bangladesh, Brazil, Brunei, Chile, Indonesia, Malaysia, Mexico, Nepal, New Zealand, Papua New Guinea, Romania, Singapore, Sri Lanka, Thailand, Vietnam, Western Samoa and Zambia.

There are some countries that are planning to issue polymer banknotes in near future include India.

Security Features

The traditional printed security features applied on paper can also be applied on polymer. These features include intaglio, offset and letterpress printing, latent images, micro-printing and intricate background patterns. Polymer notes can be different colors on the obverse and reverse sides. Like paper currency, polymer banknotes can incorporate a watermark (an optically variable 'shadow image') in the polymer substrate. Shadow images can be created by the application of Optically Variable Ink (OVI) enhancing its fidelity and color shift characteristics. Security threads can also be embedded in the polymer note; they may be magnetic, fluorescent, phosphorescent, micro printed, clear text, as well as windowed. Like paper, the polymer can also be embossed.
The transparent window where the OVD is located is a key security feature of the polymer banknote. It is easily identifiable allowing anyone to be able to authenticate a banknote.

Because the polymer bank note contains many security features that cannot be successfully reproduced by photocopying or scanning, it is very difficult to counterfeit. The complexities of counterfeiting polymer banknotes are proposed to act as a deterrent to counterfeiters.

Origin of Term Polymer Banknote

The term polymer in place of plastic to describe banknotes was introduced by the Reserve Bank of Australia (RBA) at the launch of its $10 note on 1 November 1993. Jeffrey Bentley-Johnston and his firm were retained to assist in the launch the $10 note after a cool reception for the preceding $5 note. He held the view that plastic and banknote were close to being oxymoronic. Having earlier worked in a firm that designed and constructed synthetic fiber plants, he recognized the polymer nature of the new banknote and so proposed use of the term. The transition from plastic to polymer is evidenced in the launch of the $5 note in July 1992 (plastic) to the launch of the $10 note in November 1993 (polymer).
The future of polymer banknotes is very bright because of their uniqueness, beauty and advance security features. If you are collector and would like to exchange / trade polymer banknotes then drop a line at r4rehan()gmail.com.

(change () with @ to prevent spam)