Michael Fabricant got to hold one of the new polymer £10 notes at a meeting with the Bank of England today (19th July 2017) in advance of their being made available to the public.
“The new plastic £10 note is a little larger than the new £5 note, but 15% smaller than the existing paper £10 note. It’s been designed to fit more easily in wallets and purses and has 4 raised dots in the top left hand corner to help blind and partially sighted people to distinguish it from the plastic fiver” says Michael.
“It will start entering circulation on 14th September and can be used in parallel with the existing paper £10 notes until spring 2018 when the paper notes will be withdrawn from circulation. Then, as with the old £5 note, you will be able to exchange your old notes at any bank for a limited period and, after that, you will be able to exchange old notes indefinitely if you visit the Bank of England in London. I suggest, though, you spend your paper £10 notes before next spring. The Bank of England will give 3 months advance warning of the exact date the paper £10 note will be withdrawn.
“The new £10 note features The Queen, of course, and Jane Austen the English novelist. A new polymer £20 will be issued in 2020 and will feature the artist JMW Turner whose sublime painting of Lichfield Cathedral was recently sold at Sotheby’s.
Michael adds: “Over 20 years ago I advocated the change to plastic notes having seen them in use in Australia. They last far longer than paper money and are much harder to forge.
“I am grateful the Bank of England gave me the opportunity to see the new £10 note. However, no free samples were offered” Michael jokes.
Photo shows Michael Fabricant with the new £10 note