Eastern Caribbean Central Bank

Substrate Choice: security, acceptability,

economy and longevity

By Rosbert Humphrey
Acting Director, Currency Management Department
Eastern Caribbean Central Bank

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 Eastern Caribbean Central Bank

Roadmap
Definition of Substrate
Types and Brands of Substrate
Role of Substrate in Planning, Designing and
Introducing New Series
Evaluation of a New Substrate
Discussion

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 Eastern Caribbean Central Bank

What is a substrate?

 Substrate is the material from which banknotes are made.

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Types of Substrates

1. Paper
2. Polymer
3. Composite (paper and polymer)

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Paper Banknotes

• First developed in China during the 7th century (608 – 907),

although true paper money did not appear until the 11th century.
• Most paper banknotes are made from cotton.
• Paper banknotes are sometimes mixed with linen, abaca and other
textile fibres.

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Polymer Banknotes
Polymer – a thin, transparent and flexible plastic film made from
polypropylene.

• Australia was the first country to introduce polymer in 1988, and

completely switched its entire family of banknotes in 1996.

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Different Brands of Polymer

Guardian – launched in 1988 by CCL Secure (formerly Innovia Security)

• 75 billion banknotes in circulation
• Used in over 30 countries

Safeguard – launched in 2012 by De La Rue Currency.

• Used by 24 issuing authorities

Spartan – developed by CCL Secure

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Composite Substrate (sandwich layered substrate)

Hybrid – a composite of paper and polymer, with 2 outer layers of polymer fused together
with a central core of paper.
• Louisenthal, a subsidiary of G&D

Durasafe – a composite of paper and polymer, with 2 outer layers of paper fused together
with a central core of polymer.
• Landqart

In choosing a banknote substrate, ‘you want to create a banknotes series that speaks the same
language despite the difference in substrates.’ Karen Morck-Hamilton (Crane Currency)
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The role of the substrate in planning a new series

1. Cost
2. Manufacturing/production – availability
3. Substrate availability
4. Timing – order lead time
5. Approval process
6. Population process
7. Climate conditions
8. Tradition
9. Environment
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The role of the substrate in designing a new series

1. Integration of security features

2. Choice of substrate
3. Colour representation
4. Cultural representation
5. Security – counterfeit
6. Knowledge of the substrate

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The role of the substrate in introducing a new series

1. Communication with stakeholders

2. Acceptability by the public
3. Testing period

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Evaluation of a New Substrate

1. Susceptibility to counterfeiting
2. Production
3. Reduce cost
4. Comparison with other substrates
5. Request for information/references
6. Acceptance by the public – reaction
7. Environment
8. Durability
9. Machine readability

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When choosing a substrate: What problems are you trying to solve?

Internal Public
* Durability * Processing
* Security * Manufacturing
* Cost * Environment

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Discussion:

What should a central bank expect from a

banknote substrate?

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longevity