England has finally unveiled their new five Pound note this week, and World Numismatic News is here to provide you with all of the details.

The new fiver,  as the Bank of England has been referring to it, will be the first note is an ongoing program to switch Britain's circulating currency from traditional paper to newer polymer notes. The new £5 banknote will be released into circulation on the 13th of September 2016. The older paper £5 note will then be gradually withdrawn, but will continue to serve as legal tender until May of 2017.

England 2016 Polymer £5 Bnaknote Obverse

The new banknote shares the same blue to purple colour scheme as the old five pound note. Also similar to the older note the new polymer note features a three quarter portrait of HRH Queen Elizabeth to the right of the obverse design. To the left is the new see-through window with a detailed foil image of Big Ben(Elizabeth Tower) across it in gold.

The reverse design is anchored by a portrait of former Prime Minister Winston Churchill, who led Great Britain during World War II. The palace of Westminster can be seen to the right in the background. On the right is the mirror image of Big Ben as it appears on the front of the note, visible through the see-through window in silver.

England 2016 Polymer £5 Bnaknote Reverse

Below Churchill's portrait appears the quote “ I have nothing to offer but blood, toil, tears and sweat”. This is an excerpt from a famous speech that Churchill gave before the House of Commons after receiving the King's commission to become Prime Minister in 1940.

The Bank of England plans to release a new polymer £10 banknote featuring Jane Austen by mid 2017 and then a polymer £20 banknotes featuring English painter JMW Turner by 2020.

The new polymer £5 banknote contains several new security features, taking advantage of the latest technology. These features are listed below: