£2bn of old paper £10 notes still in circulation


More than £2bn of old-style £10 notes are still in circulation with less than two weeks before the deadline when they can no longer be accepted in UK shops.

The Bank of England has said the withdrawal rates of the notes, which feature Charles Darwin, is “broadly as expected” ahead of the cut off point on 1 March.

On that date, the paper £10 will cease to be legal tender and will be completely replaced by the polymer version, which features Jane Austen.

Anyone with older notes beyond that date will still be able to exchange them at the Bank of England.

The polymer version was launched in September.

According to the latest figures, the value of paper £10 notes in circulation is around £2.182bn or roughly 27%.

Weekly returns of the paper tenners currently average around £85m.