There are still old ten pound notes in circulation, even though the new plastic tenner has been in use for some time now, but you need to spend these before Thursday 1st March when the old tenner ceases to become legal tender. You will be able to bank your "old" tenners at your bank for some time after this. Only problem is finding a branch that is still open near you, that doesn't cost a tenner to get there! The new plastic £10 note featuring Jane Austen came into circulation in September of 2017, replacing the Charles Darwin version.
Did You Know?
The words on a bank note "I promise to pay the bearer on demand the sum of ten pounds" date from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold to the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns. But the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. Exchange into gold is no longer possible and Bank of England notes can only be exchanged for other Bank of England notes of the same face value. Public trust in the pound is now maintained by the operation of monetary policy, the objective of which is price stability.