Date: 28 August 2019
Disclosure:
The table below provides the number of Bank of England £5 and £10 paper banknotes which have been returned and are still in circulation as at 26 July 2019.
| Returned (millions) |
In circulation (millions) |
|
|---|---|---|
| £5 paper banknotes |
224.17 |
118.46 |
| £10 paper banknotes |
697.18 |
93.81 |
The number of Bank of England £10 paper banknotes returned is broadly in-line with our expectations. The number of Bank of England £5 paper banknotes returned is lower than expected. This is likely to be the result of it being a lower denomination banknote and therefore more paper banknotes are likely to have been lost or damaged over the years or kept as souvenirs.
All genuine Bank of England banknotes that have been withdrawn from circulation retain their face value for all time and can still be exchanged over the counter. There is no fee for this service and there is no expiry on the period in which we will exchange old notes. Banknotes can also be exchanged by post. Details on how to exchange banknotes can be viewed here.