Bank of England 10s note Bank of England 10s note The Bank of England 10s note was a banknote of the pound sterling. Ten shillings in pre-decimal money (written 10s or 10/-) was equivalent to half of one pound. The ten-shilling note was the smallest denomination note ever issued by the Bank of England. The note was issued by the Bank of England for the first time in 1928 and continued to be printed until 1969. The note ceased to be legal tender in 1970 and was removed in favour of the fifty pence coin. In the 18th and 19th centuries, banknotes were handwritten or
Legal tender stripping a currency unit of its status as legal tender. It occurs whenever there is a change of national currency: The current form or forms of money is pulled from circulation and retired, often to be replaced with new notes or coins. Sometimes, a country completely replaces the old currency with new currency. The opposite of demonetization is remonetization, in which a form of payment is restored as legal tender. Coins and banknotes may cease to be legal tender if new notes of the same currency replace them or if a new currency is introduced replacing the former one. Examples