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New £10 note set to hit the streets this week and here’s how long you have to spend the old ones

New £10 note set to hit the streets this week and here’s how long you have to spend the old ones
Sep 12, 2017 Shaking Hands 0 comments
This post was first published by Croydon Advertiser on 12/09/2017.

New £10 note set to hit the streets this week and here’s how long you have to spend the old ones

The new plastic £10 note is set to be released by The Bank of England this week, when it officially becomes legal tender.

It is the first note in Britain to offer tactile information for blind and partially sighted people.

It will also feature an image of Bath writer Jane Austen, to recognise her contribution to English literature.

We’ve put together a quick guide on the new note, and the one it will replace.

Design

The new £10 note replaces the oldest Bank of England banknote design in circulation. It will feature a picture of the author Jane Austen, marking 200 years since her death in 1817. The picture of Austen was drawn by her nephew in 1870, based on a sketch by her sister, Cassandra.

First unveiled in July, the design will include Winchester Cathedral where Austen is buried along with the quote “I declare after all there is no enjoyment like reading!”

Also featured is an image of Godmersham Park House, the estate owned by Jane Austen’s brother, Edward.

The note will also be 15 per cent smaller than the £10 paper equivalent but larger than the new £5.

Just like the £5, the new £10 will be made of polymer.

Predicted to last two and a half times longer than its current equivalent, the plastic notes are also said to be more environmentally friendly with an eight per cent lower carbon footprint.

Features

On the front, below the see-through window, is a silver foil patch. When the note is tilted, the word “Ten” changes to “Pounds” and a multi-coloured rainbow effect can be seen.

If you look at the front of the note under a good quality ultra-violet light, the number 10 appears in bright red and green while the background remains dull in contrast.

On the back of the note, there is a book-shaped copper foil patch which contains the letters JA. It is immediately behind the silver crown on the front.

Clusters of raised dots will help blind or partially-sighted people.

How many?

Production on the new £10 began last August and the new £10 will start to go into circulation on Thursday, September 14, with 275 million notes already waiting to be released.

Also printing their new £10 in polymer, Scotland will be releasing its new note a week later on September 21.

Where can I get one?

Most bank branches are expected to have the notes within a week so after the note is released on Thursday.

If your cash machine doesn’t deliver the goods, walking into the biggest bank branch near you to ask may be the best bet.

When the new £5 notes were launched, ATMs in London, Manchester, Birmingham, Leeds, Hull and Cardiff were among the first to stock them.

Will some of them be worth more than £10?

It all depends on the serial number.

When the new £5 note launched, the serial numbers that began AA, AB, AC or AK quickly became worth more than their face value.

What about the old notes?

The old £10 will go out of circulation in spring 2018, with banks and businesses gradually removing old notes before that date.

Anyone with old £10 notes can get them exchanged at the Bank of England.

Will there be other new notes?

The new £20 note featuring English romanticist artist JMW Turner is due to be launched in 2020.

There are no plans in place to replace the £50 note, with an announcement expected “in due course”.

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