Origin of Term polymer Banknote
The term polymer in place of plastic to describe banknotes was introduced by the Reserve Bank of Australia (RBA) at the launch of its $10 note on 1 November 1993. Jeffrey Bentley-Johnston and his firm were retained to assist in the launch the $10 note after a cool reception for the preceding $5 note. He held the view that plastic and banknote were close to being oxymoronic. Having earlier worked in a firm that designed and constructed synthetic fibre plants, he recognised the polymer nature of the new banknote and so proposed use of the term. The transition from plastic to polymer is evidenced in the launch of the $5 note in July 1992 (plastic) to the launch of the $10 note in November 1993 (polymer). This is documented on the launch TV commercials viewable on the RBA website.
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