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Why is a US$ banknote called a ‘Greenback’?

Banknotes, Currency, NewsBy SMI 20/06/2012

Until 1857 all US $ bills were printed using ‘carbon black’ based ink on both the front and reverse of the note. The colour green used on US currency was invented in 1857 by a Canadian chemist named Thomas Sterry Hunt. Like other chemists of his day, he used natural pigments and laboratory chemicals to…

New Malawi Banknotes Cause Problems For Visually Impaired

Banknotes, NewsBy SMI 12/06/2012

Following the recent release of the new Malawi series of banknotes and coins, the Malawi Union of the Blind (MUB) have made a complaint to the Reserve Bank of Malawi (RBM) stating that “the visually impaired community are finding it difficult to differentiate between the banknotes”. The banknotes do not have features which are easily recognisable to visually…

De La Rue plc reports full year results

Currency, NewsBy SMI 29/05/2012

This morning De La Rue plc reported its full year results for 2011/2012. The largest commercial producer of banknotes and security documents is seemingly recovering from the paper production issues that affected banknote paper supply to one of its key clients, the Reserve Bank of India. The compliance scandal of summer 2010 cost the company…

New Glue Technology Tackles Cash-In-Transit Crime

Banknotes, News, TechnologyBy SMI 25/05/2012

Following a cash theft in a South London Lloyds TSB branch, the first successful conviction of a Cash-In-Transit (CIT) crime has occurred where glue technology was used to protect the cash being transported. The new technology is built into the boxes used to transfer the cash from one place to another. When triggered the glue…

New Malawi Kwacha Currency Series Issued

Banknotes, Currency, NewsBy SMI 23/05/2012

Today, the 23rd May 2012, the Reserve Bank of Malawi has released a new series of banknotes and coins. Six banknote denominations have been issued consisting of the K1000, K500, K200, K100, K50 and the K20. There are also three coin denominations of K10, K5 and K1. The long-term objectives outlined in the Malawi Growth…

Eesti Pank begins euro banknote production

Banknotes, NewsBy SMI 09/05/2012

Estonia adopted the euro on 1 January 2011, replacing the kroon as the country’s official currency. Eesti Pank, the Central Bank of Estonia, will begin producing euro banknotes for the first time this year. Eesti Pank, alongside other euro countries, must provide euro banknotes each year via a joint procurement with other euro countries. This…

Use of QR codes in banknotes

Banknotes, News, TechnologyBy SMI 30/04/2012

QR codes, or Quick Response codes, are becoming more and more common and are often seen in advertising and marketing media. A QR code is a two dimensional barcode which requires a QR reading device such as a smartphone to link directly to the information stored within the code, which can be websites, emails, texts…

Circulation of £5 notes improving

Banknotes, Currency, NewsBy SMI 27/04/2012

A 5-year long concerted effort of the Bank of England with participation of major UK banks and building societies to improve deteriorating quality and volumes of circulating £5 notes is evidently paying off. In yesterday’s press release the Bank of England announced success in its initiative to increase the availability of good quality £5 notes.…

Euro currency stability questioned again

Currency, NewsBy SMI 18/04/2012

As the markets have calmed over the past months, the rumours of a collapsing Euro became only whispers. However the Euro once again appears to become more fragile, with recent turmoil in the Spanish markets and money being moved across borders in all regions. Despite the markets calming, the trend over the past few months…

Talaris is acquired by Glory Corporation

Banknotes, News, TechnologyBy SMI 18/03/2012

Cash handling equipment and software provider Talaris, which employs 1900 people, has been acquired by Glory Corporation for £650 million. Talaris was previously De La Rue Cash Systems, but was sold for £360m in 2008 to private equity group Carlyle Europe Partners. In less than 4 years their investment nearly doubled. Since the departure from De La Rue, Talaris’…