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Polymer on Queen’s Honours list

Categories : Cash is efficient
June 28, 2016
Tags : Clean note policies, Counterfeiting, Substrates
Co-Inventor of polymer banknotes is part of the Queen's Birthday Honours list. Launched in 1988, polymer notes have already been adopted by 34 countries.
Communication Team / Equipo de Comunicación

Co-inventor of polymer banknotes, 86-year-old Professor David Solomon, is on the Queen’s Birthday Honours list for his contribution to the security and durability of Australian banknotes.

In response to the dismantling of a criminal gang that was caught with $800,000 worth of forged $10 notes back in 1966, Reserve Bank of Australia governor mandated a team of scientists to take part in a “secret” project. Their objective: to make the Australian dollar secure and uncounterfeitable. 

The first polymer note, a $10, was released only 22 years later due to the RBA’s reluctance to take the role of technology leader. But since then, 34 countries have adopted this plastic substrate for their currencies including, Canada, Chile and Vietnam. The UK will join the group this fall when it releases its first polymer banknote, the Fiver. 

Professor Solomon receives no royalties for the invention, but he is proud of the achievement and is still active in the field of chemistry. He is currently working in the University of Melbourne’s polymer group, with Professor Greg Qiao, on projects as diverse as paints and biomedical applications. 

For more information, click here.

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