lacquered money

[Figleaf]

Banknotes to be lacquered

8th May 2009, by Coen Springelkamp

AMSTERDAM -  Euro notes are wearing too fast. A transparent layer of lacquer will therefore be applied to all newpaper money so that it can circulate longer. That is the result of research done by the Dutch Central Bank for the European Central Bank.

Many millions of euro banknotes are withdrawn from circulation early and replaced in Europe because they are worn. That is a very expensive operation: a banknote costs between 10 and 20 cent to make. Banknotes wear especially from fatty and acidic fingerprints. A 5 euro note lasts only one year, 10 and 20 euro around two years and 50 euro three year. The ECB wants to prolong the life of the European money. One of the methods is to varnish banknotes. The Dutch Central Bank has much experience in this field. A layer of lacquer was applied to all colourful gulden banknotes.

"The smaller the denomination, the shorter its life. The fiver spends much time in the pockets of pants and wears quickly. Five hundred euro notes don't wear out quickly, because they are being hoarded" a spokesman of the Dutch Central Bank said. "Banknotes denominated in gulden saw their useful life doubled when they got a layer of varnish."

The European Central Bank therefore asked researchers from the Dutch Central Bank to solve the wear issue. "We have just concluded a multi-annual practical test. Millions of banknotes with different kinds of invisible varnish were circulated, withdrawn and researched" according to a spokesman from the bank. The results were positive: banknotes' lives was prolonged. DNB-researchers have developed a lightning-fast fingerprint test to imitate wear on banknotes in a laboratory. This will shorten the test period from years to a few weeks. The expectation is that it will take at least three years before the new, lacquered banknotes are circulated.

Source: De Telegraaf