Free market champion Adam Smith on new currency note (UK)

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A new £20 note featuring a portrait of Scottish economist Adam Smith comes into circulation on Tuesday.

The note includes a range of enhanced security measures designed to prevent counterfeiting, such as a wider holographic strip and microlettering.

The new image of Smith will mark the first time a Scotsman has appeared on a Bank of England note. [An image of Smith already appears on Scottish £50 notes.]

Current £20 notes, featuring English composer Edward Elgar, will be phased out over the coming months...

The Bank of England said introducing the new £20 note would be a major undertaking, as the denomination is by far the most common in circulation.

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