ECB reveals new €10 note, due for circulation in September

Monday 13 January 2014 21.58
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The ECB says the new €10 note has enhanced security features
The ECB says the new €10 note has enhanced security features
The new €10 banknote of the Europa series will start circulating on September 23
The new €10 banknote of the Europa series will start circulating on September 23

The European Central Bank has revealed new €10 banknotes, which will come into circulation from late September.

The notes include a portrait of the Greek mythological figure of Europa.

"The new €10 banknote of the Europa series will start circulating on September 23," the ECB said in a statement.

Like the new €5 notes launched last May, the new €10 notes have benefited from advances in banknote technology since the first series was introduced more than ten years ago.

Its security features have been enhanced, making them "even more resistant to counterfeiting," the ECB said.

The figure of Europa, from which Europe takes its name, will be featured in the hologram and watermark of the new notes.

The banknotes of the Europa series are being introduced gradually over several years.

Higher denomination notes - €20, €50, €100, €200 and €500 - will follow subsequently.

The current euro banknotes issued in January 2002 will gradually be pulled from circulation.

The ECB prints the euro banknotes, while euro coins are minted by the national mints of each of the euro zone member countries. 

According to new data compiled by the ECB, the number of counterfeit euro banknotes seized in the second half of last year was up over the preceding six months. 

A total of 353,000 counterfeit euro banknotes were withdrawn from circulation in the period from July to December, up 11.4% over the previous six month period. 
 
However, the number of counterfeits "remains very low in comparison with the number of genuine banknotes in circulation during that period (over €15 billion)," the ECB insisted. 

In addition to the enhanced security, the new €10 banknotes will be sturdier, thanks to a protective coating.  "This means that the notes will need to be replaced less frequently, thus lowering costs and reducing the impact on the environment," the bank explained. 

The size, format and architectural motif on the note remain the same as the old note, but the colour is more vivid. 

The introduction of the new €5 notes last year experienced a number of technical problems with vending machines refusing to accept them.