Invited Articles

For The Love Of Money

No matter who we are, most people want more of that essential commodity called money. Defined by some as "a medium of exchange and a store of wealth", it has been the saviour of many but probably the downfall of an equal number of people. Is it not strange though how little people actually know about their money, particularly that made from paper.

Most folks are totally oblivious to the fact that banknote paper, although in most respects displaying all the properties of other forms of writing paper, is fundamentally different in that unlike most other papers that are made from wood-pulp, banknote paper is made from pure cotton. Yes, in a different life it could have ended up as a shirt or blouse.

The origins of banknotes too are largely a mystery to the average man in the street with very few people realising that in the not too distant future we could all be celebrating a millennium since they first appeared, issued by a responsible authority, in the hands of the public. Not surprisingly, the Sung dynasty of China are credited with the first government issued paper money in 1024 AD. What is even more interesting is that the basic printing techniques used were not dissimilar to that used today in that engraved wooden plates, (later replaced with copper) were used to print a two-colour image on extremely durable paper made from Mulberry tree bark.

So much for the history of banknotes which in itself can be a fascinating subject particularly if one considers that as early as 1115 AD the Chinese successfully devised a numbering system (using Chinese characters) which gave each of the notes printed its own unique number.

Modern banknotes of the world are as interesting as those produced many years ago and while today seemingly portraying a less intricate design, the inherent challenges to a would-be counterfeiter are by no means less daunting.

It goes without saying that technological advances have, over time, made a significant contribution to the complexities of virtually all banknotes which, to the man in the street, go largely unnoticed. It is doubtless prudent at this juncture to mention that there is no such thing as a counterfeit proof document. Accordingly, the role of the security printer, vested with the manufacture of products such as banknotes is rather to make the task of the would-be counterfeiter sufficiently difficult or expensive to encourage them to seek other forms of producing an income. To be fair, most counterfeiters are successful primarily because people all over the world pass money without a second glance. Counterfeiters are happy to exploit this carelessness.

Most banknote paper today is a highly sophisticated product which not only contains overt features such as a multi-tonal three dimensional watermark and possibly a machine readable demetalised window thread with dropout micro-text but can too contain a host of covert features such as multicoloured UV reflective threads which in themselves can be either visible or invisible. As most young people know, a white shirt worn to a discotheque which has UV-lights can often lead to them being the life of the party with their white cotton shirts becoming semi-translucent and reflecting white light quite vigorously. Banknotes on the other hand are made from the same raw materials but are entirely UV-dull.

The printing techniques used to manufacture banknotes too are relatively more sophisticated than used in other printing environments. I use the word "relatively" advisedly as the principles used are, as alluded to, very old in some instances. What is unquestionable true however is that the know-how used in the application of some of the techniques is unquestionably modern.

The use, for example, of metameric colour combinations and patterns on a considerable number of banknotes is deliberately intended to confuse the operating systems of scanners and photocopiers which have difficulty in distinguishing between certain colour combinations. The number of colours to be found on each side of any particular banknote too can be fascinating, as can the perfection and fineness of the line work.

The application of intaglio ink onto a banknote, which provides it with that unique tactile effect to the printed portrait and, at times, to other printed areas of a banknote, is not always done just "to look nice". It has a "binding" ability which adds strength to the note and is too, one of the most difficult features on a banknote to replicate without the correct equipment. In addition, this ink is applied using the age-old technique of engraved plates which, even in this modern world, still lies at the heart of a secure banknote.

Yes, the banknote in your pocket will always buy you a loaf of bread or a beer. But take time when you next hold one to look more closely at it. Look at it through a magnifying glass, hold it up to the light and feel it properly. You will almost certainly be intrigued, if you look closely, at what otherwise is just another piece of paper.