Coins up to 50p have a limit to the amount of debt they can be used to repay. There is also no mention of the £5 coin being legal tender. The Bank of England has said that unspent, paper, £20 notes are still legal tender. You should check these features to ensure notes are genuine. It’s recommended that you do not accept damaged coins, or you may get stuck with them. Elgar £20 note no longer legal tender . The old paper £20 notes bearing the image of economist Adam Smith are being taken out of circulation, so notes returned to banks or to cash centres by retailers will not be used again. "The impact of Covid-19 on spending" has affected the return rates says the Bank of England. Legal tender status (the IOM's definition of which is akin to the UK) of the 10 shilling, 50p and £1 polymer notes continued until 31 October 2013, and these notes remained in circulation (albeit rarely seen) until this date, after which they remain exchangeable at branches of the Isle of Man Bank. New contoured thread used initially; 'windowed' security thread introduced on 21 July 1988. Even after legal tender status is withdrawn, many banks will continue to accept deposits of the old £20 note. NEW polymer £20 notes were issued on February 20, 2020, however, the old paper notes can still be used for now. The demise of the paper notes follows the official withdrawal in October 2017 of the old circular £1 coin, which has been replaced by a 12-sided version - about 122m round £1 coins have not been returned to the Royal Mint. We will give six months’ notice of this withdrawal date. Date first issued: 20 March 1981 Date ceased to be legal tender: 20 September 1996 Colour: Predominantly brown Size: 6 5/8" x 3 3/4" (169mm x 95mm) Design: H N Eccleston and Roger Withington. That’s because the Bank of England has said that old £20 are still being considered legal tender. The Bank of England £20 note is a banknote of the pound sterling. There are currently around 2 billion paper 20 pound notes in circulation in Britain, featuring the 18th century economist Adam Smith, and they will remain legal tender for now. 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