Banknotes worth £2.5 million have been transformed into these benches.
The Bank of England is set to host a unique pop-up exhibition named 'Reconstructing Value' during the London Design Festival 2025. This groundbreaking event, taking place from 15-21 September, will challenge common assumptions about recycled materials and their perceived value.
In a remarkable twist, retired banknotes, once considered waste, have been transformed into a high-end material for the exhibition. This new material, along with finely crafted forms, holds its own in the stately interior of the Bank of England, complementing the adjacent Building of the Bank exhibition.
The space features curated palettes of recycled and recyclable materials, including aged bronze, Portland stone, mosaic flooring, and rotunda glass. The star of the show, however, are the benches made from a special material developed for the project, created from £2.5m worth of shredded decommissioned banknotes.
The arrangement of these benches forms a pound symbol, a subtle nod to the bank's history and the value being explored in the exhibition. Each palette references colorways of British banknotes and architectural details from the Bank of England, creating a harmonious blend of old and new.
The collaboration behind 'Reconstructing Value' is a joint effort between Saskia Boersma (head of the Bank of England Museum), Surface Matter, and Plasticiet, a Delft-based material and design studio. The idea for the exhibition stemmed from a meeting between Boersma and Surface Matter, which highlighted the importance of circularity within the Bank's context.
Jane Campbell, strategy director at Surface Matter, explains that developing a new material for the project was complex and came with risks. However, the end result demonstrates how value can be transformed through design, challenging assumptions and where we assign meaning and value.
The Bank of England's engagement with the creative community is not new. Last year, the bank launched a project titled 'Currency of the Future' during the same festival, marking its first foray into the creative realm. 'Reconstructing Value' is expected to build on this momentum, showcasing the bank's commitment to innovation and sustainability.
Visitors to the exhibition can expect to be both intrigued and inspired by the transformation of humble waste into high-end furniture, all within the historic walls of the Bank of England. The exhibition serves as a testament to the potential of circular design and the power of reimagining value.
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