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Currency changes take effect for notes and coins

01 March 2018

Tomorrow will see the paper £10 note officially withdrawn from circulation and the introduction of new 10p coins.

Retail premises will be entitled to refuse to accept the paper £10 note, although deposits at banks will still be allowed.

New polymer £10 notes were introduced last September, following the earlier introduction of new £5 notes, both of which have been redesigned to be longer lasting and more difficult to copy than the paper versions.

The Bank of England has estimated that there are approximately 211m of the old £10 notes in circulation.

A celebration of British culture will be represented by designs on the new 10p coins.

Ranging from the Angel of the North to zebra crossings, the 26 designs include one for each letter of the alphabet.

Royal Mint Museum director Kevin Clancy said it is the first time the Royal Mint has celebrated "what is great about Britain" in this way, describing the new designs as representing "the granularity of British life celebrated on the coinage".

While the new coins should not affect the FM sector, facilities with retail and other operations that accept cash will need to prepare accordingly for the old £10 note withdrawal.

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