Why has the £50 note never been updated?

[Jez]

The highest value note introduced in 1994, why is it now 2 generations old when compared with the £20 note? Surely if any, the £50 should be the note with the highest number of security features?

What gives?

 

[Jez]

People tend to inspect £50 notes for authenticity like their life depended on it in most shops, that's if they even choose to accept them at all.

They are very common in industries which use a lot of cash, such as mine. While i inspect them all it would make sense surely to have them secure?

xarr - i guess thats it. I wonder how much it costs the mint to develop and replace a bank note?

 

[Jez]

As i say, they are only rare if you work in an industry that pays electronically and deals with electronic money.

Both myself and friends always have lots of 50's as they are the most common note found when paying large sums in cash. For this reason i think they should be as secure as the 20 :/

 

[Jez]

They're not "common" in any way shape or form, as the Bank of England link above suggests (i.e. there are 10 times as many £20 notes in circulation as there are £50s).

In the scheme of things no, as most people deal with all of their finances electronically where 50's wouldnt come into it.

I am saying that in select industries they are very common, and are usually dealt with in bundles rather than individually. Personally i think they should be updated to reflect the modern security found on the 20.

Question kind of answered though with those number above, because i see them a lot and always have them, i didn't realise the numbers were anywhere near as vast as the link states

 

[Jez]

Something that would interest me, who even knew that £100 notes exist?

I certainly didn't until another forum member handed about 10k all in 100's last year for a car they bought off me. Needless to say i got the local bank to check them

 

[Jez]

Yeah

 

[Jez]

I know for a fact there is at least one, somewhere in London got out £240 for hotel + food and ended up with 4x£50 and 2x£20. Was out of the way somewhere with lots of offices (ie off the tourist routes).

Why didnt you pay by card for those things?

 

[Jez]

canary wharf cash machines do.

ive never had a £50 declined, i think it might be illegal to do so (so long as its for a reasonable amount ie not using a 50 to get a 80p bus ride or something).. but then again i guess stamps are also legal tender - not sure how that works now that 1st class no longer have values on them

TBH i use a lot of 50's in this kind of way purely to break them down due to the lack of acceptance in a lot of places. Always try a 50 first, then if they dont like it use a 20 which ive had in change elsewhere.

 

[Jez]

We used an borrowed employee discount card to get a discount and so couldnt pay with my card as different surname.

ah

 

[Jez]

goo gle
obviously not his money

Probably just got paid for a job, or sold something