We should have all encountered the new polymer £10 note that has been in circulation since the 14th September 2017. All the staff from PCCU has got used to both the £5 and £10 note’s new format and features. The old £10 note, featuring Charles Darwin, will soon go out of circulation and PCCU will stop accepting them for savings deposits or loan repayments
The last day to use your old paper £10 notes is 1 March 2018.
Some banks, building societies, and post offices will allow you to deposit them if you’re an account holder, but this isn’t guaranteed so it is advisable to call ahead to see, or by popping into your local branch to check their last dates if they are participating.
The good news is that any genuine Bank of England notes that have been withdrawn from circulation retain their face value for all time and can be exchanged at the Bank of England.
The new £5, £10 and forthcoming £20 banknotes are being printed on polymer, a thin and flexible plastic material. The Bank of England assures us that the polymer notes are cleaner, safer and stronger than paper notes. Each polymer note will be smaller than the equivalent denomination paper note.
Here are the headline facts about the new polymer £10 note which features Jane Austen
- £8bn – Total value in circulation
- 800m – Notes in circulation
- 70k – ATMs that dispense £10s
- 1759 – First £10 note introduced in 1759
- 5 – £10 note designs since that date
Like all the recent newly released coins and notes from the Bank of England, some have become very sort after and can auction for vast sums above their true value. According to ‘The Mirror’ newspaper these are the new £10 notes we should look out for, after one sold recently for £3,600
- Early ones which have had AH on them – these have been selling for around £30 a pop since the note’s launch
- A few AA01 notes have since emerged, with these selling for as much as £250 each
- JA01, they’re Austen’s initials; JA75, because that’s Austen’s birth year; and JA17, the year of the author’s death.
If you have any queries regarding depositing your old £10 notes at PCCU please contact a member of staff who should be able to answer you query.
Hopefully our blog about the new £10 note has been helpful, as the quote on the new note from Jane Austen’s Pride and Prejudice reads
I declare after all there is no enjoyment like reading