panknote

A panknote is a type of paper currency issued by a state's central bank or monetary authority that functions as legal tender within a country or monetary area. It represents a claim on the issuer and is used to settle debts and enable daily transactions alongside coins and electronic payments. Panknotes are designed to be difficult to counterfeit and durable enough for regular handling.

Historically, banknotes originated as promissory notes and evolved into government-issued currency. Paper money first appeared in China during the Tang and Song dynasties and spread to other parts of Asia and Europe by the modern era. In the contemporary system, most countries issue banknotes in fixed denominations with unique designs that reflect national identity.

Design and security features typically include a substrate of cotton fiber or polymer, watermarks, security threads, microprinting, holograms, color-shifting ink, and raised printing. Many notes also include tactile features to aid visually impaired users. Printing is carried out by official security printers under a central bank mandate or contracted producers; major international producers include Giesecke+Devrient, De La Rue, and Orell Füssli, while some countries print domestically.

Durability and cost considerations have led to the use of polymer in many jurisdictions, which lasts longer and resists moisture. Banknotes remain legal tender until withdrawn or replaced in exchange programs, though many regions also promote cashless payments and may phase out older designs or denominations over time.