paper £5 notes stopped being legal tender on 11 march 1988.
paper £5 notes stopped being legal tender on 11 march 1988.
when did paper £5 notes stop being legal tender?
11 march 1988
the £5 polymer banknote, issued by northern bank (now danske bank) in 2000, was the only polymer note in circulation until 2016, although danske bank also produces paper-based £10, £20 and £50 notes. the bank of england introduced £5 polymer banknotes in september 2016, and the paper £5 notes were withdrawn on 5 may 2017. this date was picked due to its short format, 5/5. a polymer £10 banknote was introduced on 14 september 2017, and the paper note was withdrawn on 1 march 2018. a polymer £20 banknote will be introduced in 2020.









































section::::monetary policy.
pound sterling
with the passing of the bank notes act 1833, bank of england notes over £5 in value were first given the status of "legal tender" in england and wales, effectively guaranteeing the worth of the bank's notes and ensuring public confidence in the notes in times of crisis or war. the currency and bank notes act 1954 extended the definition of legal tender to ten shilling and £1 notes; unlike the 1833 act, this law also applied to scotland, meaning that english notes under £5 were classed as legal tender. the bank of england ten-shilling note was withdrawn in 1969 and the £1 was removed from circulation in 1988, leaving a legal curiosity in scots law whereby there is now no paper legal tender in scotland. (scottish notes were not included in the 1833 or 1954 acts.)
bank of england note issues