banknote

Also known as bill, paper money, note, paper currency, bank note, banknotes, bank notes

A banknote or bank notealso called a bill (North American English) or simply a noteis a type of paper money that is made and distributed ("issued") by a bank of issue, payable to the bearer on demand. Banknotes were originally issued by commercial banks, which were legally required to redeem the notes for legal tender (usually gold or silver coin) when presented to the chief cashier of the originating bank. These commercial banknotes were only traded at face value in the market served by the issuing bank. Commercial banknotes have primarily been replaced by national banknotes issued by central

AI overview

A banknote is a piece of paper money issued by a bank that can be exchanged for its stated value whenever someone presents it. Originally, commercial banks issued these notes and had to exchange them for gold or silver coins, but today central banks issue the banknotes we use as currency.

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Commons category: Banknotes
MCN code: 4907.00.10
time of discovery or invention: 0618-00-00

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~23 min read

Article

17 sections

Contents

History
Issue of banknotes
Materials used for banknotes
Paper banknotes
History of counterfeiting and security measures
Polymer banknotes
Other materials
Vertical orientation
Vending machines and banknotes
Destruction
Intelligent banknote neutralisation systems
Dynamic Intelligent Currency Encryption
Confiscation and asset forfeiture
See also
References
Bibliography
External links

By extension, the word "banknote" is sometimes used (including by collectors) to refer more generally to paper money, but in a strict sense notes that have not been issued by banks, e.g. government notes, are not banknotes.