The Bank of England will introduce new polymer £10 notes in September – but what becomes of the old paper ones?
JUST as we’re getting used to plastic fivers, the Bank of England has announced that a new £10 note is on its way.
The polymer tenner will come into circulation in September this year, with hundreds of millions already printed.
But what happens to the old paper notes when they’re returned to the bank, never to be used as legal tender again?
What if we told you that you may end up EATING them?
Let us explain…
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All money that is returned to the Bank of England is destroyed.
According to its website, up until 1990 the notes were incinerated, with the energy generated used to help heat the building.
In the early 90s, the Bank of England upgraded its equipment, resulting in them moving away from this method.
Initially the notes were taken off site and incinerated for energy recovery.
In in the early 2000s, the organisation began recycling old bank notes using a composting treatment, similar to that used in the treatment of food waste.
Since 2011, all of the Bank’s paper-note waste has been recycled in this way, and used as a soil improver for agriculture.
Gives a whole new meaning to the term “rich soil”, doesn’t it?
The new plastic £10 note will feature Jane Austen, which was confirmed at a press conference in 2013 by Bank of England Governor, Mark Carney.
It will include a quote from her novel Pride and Prejudice, an illustration of lead character Elizabeth Bennett and a portrait of the author, commissioned by James Edward Austen Leigh (Jane Austen’s nephew) in 1870.
As it is made using the same materials as the polymer £5 note, the new tenner will again contain small amounts of tallow: rendered beef and mutton fat.
Earlier today we told how the design for the new Scottish tenner has something amazing for Harry Potter fans.