The Story of English Banknotes

The humble banknote has been around in one form or another for over 300 years, and no one would deny that during that time they have been an indispensable part of trade, commerce and the growth of the UK economy. The Bank of England came into existence to oversee their creation and distribution and has played a critical role in steering the country through good times, bad times and the occasional economic crisis ever since. The earliest notes were little more than handwritten bills, rarely seen as they could be worth more than a year’s wages. However, historical events meant that the widespread issue of smaller denominations to raise money for the Crown became a necessity. As banknotes have always attracted forgers, notes had to be frequently updated to stay ahead of the counterfeiters. From simple paper designs in the nineteenth century to modern, holographic polymer notes, Andrew Morten explores the history of the Bank of England through the many different banknotes that have been issued during its existence.