Polymer Banknotes - The Ingenious Invention

What are Polymer banknotes?

Polymer banknotes are constructed from different polymer materials. Most commonly for polypropylene, co-created by the Commonwealth Scientific and Industrial Research Organization. The first polymer banknote was released in 1988 by the Reserve bank of Australia. Polymer banknotes are made from plastic (polymer substrate) and offer distinct durability and security advantages over traditional paper banknotes.

Paper banknotes aren’t made from paper at all, in fact, they are commonly made from a cotton blend which explains why the banknote can survive a spin cycle in your washing machine. Polymer banknotes not only feel completely different when held, they also allow new design features, artwork and some even become commemorative of a bank’s decision to make the switch making them more desirable to collectors. In addition, counterfeiting currency has led to an increased demand in security features that paper banknotes simply don’t have. For these reasons, more and more banks are switching to polymer banknotes as of 2017 because the benefits outweigh the costs. Many countries have adopted polymer banknotes since their design is more durable and secure than a traditional cotton banknote. Countries that adopted polymer banknotes are Romania, Brunei, Maldives, Great Britain, Paraguay, Costa Rica, Macedonia, Vietnam, Lebanon & Sri Lanka.  Banknotes that combine both cotton and polymer technology also exist and often referred to as hybrids.