the old £50 note went out of circulation in 1983.
the old £50 note went out of circulation in 1983.
when did the old £50 note go out of circulation?
1983
the £50 denomination did not reappear until 20 march 1981 when a series d design was issued featuring the architect christopher wren and the plan of st paul's cathedral on the reverse of this large note. in 1994 this denomination was the last of the first series e issue, when the bank commemorated its 300th birthday by featuring its first governor, sir john houblon, on the reverse. the old series d £50 note was withdrawn from circulation on 20 september 1996.
bank of england note issues
in march 2018, the treasury began a consultation looking at the potential withdrawal of the £50 note, as well as the one and two pence coins, on the basis that they are used significantly less than other denominations, with an additional rationale over the £50 note being the perception in the uk of its use in money laundering, tax evasion and other financial crime, despite the demand for it overseas. the series f version was introduced in 2011, while its predecessor was in circulation for twenty years, so there was some consideration to withdrawing the £50 note entirely as a way of combatting tax evasion, and the fact that cash transactions using such a high value note are becoming increasingly rare. however, in october 2018 the bank of england announced plans to introduce a series g polymer £50 note, following the review by the government. the new £50 note is planned for introduction once the series g £20 note featuring jmw turner is released.
banknotes of the pound sterling