World Polymer Banknotes and Currency

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Banknote was a huge landmark in human history when it replaced bronze and silver in issuing currency. However, people started realizing that paper is no longer effective to go along with today’s situation in modern times. Many countries had been trying to replace paper but failed until polymer material was founded by Australia in 1988 and soon many countries adapted it into their banknote circulation.

In 1966, thanks to Francis Papworth and Jeffrey Mutton. Fake notes were the main and only unsolved problem in Australia. By 1968, a group of scientists-CSIRO-was accumulated as requested by the RBA’s governor to create the most secure banknote in the world. This project was called the “Bank project”. And David Solomon came up with the idea of a plastic banknote after receiving a plastic card business in Japan. In Feb 1972, the project successfully created the highest quality banknote ever.

The Polymer Banknotes's Adventures:

The world’s first $10 polymer banknote in Australia was embedded with features to prevent counterfeiting such as a see-through panel, diffraction grating, and obviously plastic material. This became difficult for counterfeiters. However, soon upgraded-fake-note was back in the race. As well as polymer banknotes. In addition, to increase the security on banknotes, more security features were discovered. Security featuring polymer banknotes has three different levels:

Viewable features for consumers such as intaglio printing and metal strips.
Hidden features that are only detectable by a machine including microprint, watermarks, and embedded marks, etc,...
Security features will never be detectable except for the Central Bank’s special machine.

Nowadays, polymer gradually popularized itself to the public. Not only because of the security features. But also, the polymer itself asserted many other benefits including being more durable, recyclable, lasting longer, and lessening the cost of production,... Moreover, polymer banknotes can be confidently determined as the most irresistible banknote to be collecting and observing. Such as the Canadian Dollar was recognized as the most charming banknote ever existing. Within 30 years, polymer banknotes gained many people’s hearts, and many countries completely switched their banknotes into the polymer. Polymer is not only a simple material anymore, I believe it will be holding the future of banknotes. And maybe one day, you will see everyone holding a piece of plastic instead of paper.