...Hong Kong Special Administrative Region - $10 Polymer issue Dated 1st January 2024

 中華人民共和國香港特別行政區

(Hong Kong Special Administrative Region of the People's Republic of China)

 

香港金融管理局

(Hong Kong Monetary Authority - HKMA)

Currency - Dollar (HKD)

 

This is the latest Hong Kong $10 polymer note issued by the Hong Kong Special Administrative Region government. This note is dated 1st January 2024 and was only reported among collectors last year. This is still the only banknote issued in Hong Kong that is printed on polymer substrate material.

The last issue for this $10 polymer note was dated 01.07.2018. Neither of the three issuing banknote commercial banks have printed the $10 denomination since 1995. When the Bank of China first issued Hong Kong banknotes in 1994, the lowest denomination was the $20. The Hongkong and Shanghai Banking Corporation Limited (HSBC) last print for the $10 was dated 01.01.1992, and the Standard Chartered Bank (SCB) $10 was dated 01.01.1995. Obviously the government feels that there is still a need for this low denomination value note and the government has been issuing this $10 since 2002. This is also due to public demand as the people of Hong Kong find it impractical to have a $10 coin instead of a banknote, especially during festivity seasons when auspicious red packets are required, like new year and weddings and so on.

The designs for this note have not changed since it was first introduced in 2002 except that the material was changed from paper to polymer substrate material in 2005. Honestly, I have no idea how you can describe the design for this note. It looked like mostly ribbon wiggling on the front and back. On the front, the design on those triangle shapes may appear to be representing water waves. In the top center is a hexagon shaped perfect register with the image of a rearing horse. Next to this is printed with the issuing authority - Government of the Hong Kong Special Administrative Region. Both Chinese and English text are printed on the front and back of this note. I personally believe that it would be much better if they promote the beauty of Hong Kong with the skyline view of the city, which Hong Kong is famous for, to the outside world.

This is a cheap note and it is fun to collect them. 

 

Ten Dollars 

Dated 1st January 2024

Signatures 

Financial Secretary - Paul Chan Mo-po* 陳茂波 (tenure since 2017)

Monetary Authority (Chief Executive) - Eddie Yue Wai-man* 余偉文 (tenure since 2019)

Sizes - 133mm x 66mm 

Note* - It appears that they both have more than one signature (in Chinese as shown on this banknote, and in English as well).

...Hong Kong Special Administrative Region - $10 Polymer issues

中華人民共和國香港特別行政區

(Hong Kong Special Administrative Region of the People's Republic of China)

 

香港金融管理局

(Hong Kong Monetary Authority - HKMA)

Currency - Dollar (HKD) 

 

This is the one and only banknote currently issued by the Government of Hong Kong. This series was first introduced in 2002, when all the commercial banks in Hong Kong ceased printing the $10 banknotes. Obviously, there is still a demand for such denominations by the people of Hong Kong and since the commercial banks decided not to issue them anymore, the HKMA took over this responsible role and issued their own note. I can only think of two reasons as to why this $10 note is still required in Hong Kong. One is for tipping goods and services received. The other one that is very similar to tipping is the red package (Hong Bao) for New Year celebration, wedding, birthday or any special or auspicious occasion celebrations. Whilst the amount is nominal, it is the gesture that counts.

 

Between 2002 and 2005, all the Hong Kong SAR $10 issued were printed on 100% cotton fibre material. In 2007, polymer banknote technology was then introduced and HKMA printed Hong Kong's first $10 polymer note with a date of 01.04.2007 and released to the public on 09.07.2007. It was then reported that this polymer note celebrates the 10th Anniversary of the Returning of Hong Kong to China (1997-2007), but with no commemorative text printed on the note. At the time of the printing, this note was meant to be on trial for a period of two years. Since then, reprints have been issued with the year dates printed on, first October 2007, and then 2012, 2014 and now this 2018.

 

The designs for this $10 paper and the polymer notes are the same, except the transparent window is added to the polymer note (paper watermark area) as additional security. The designs for this note are just geometric patterns on the front and back. I am not sure why HKMA did not introduce some key features such as scenery or famous landmarks of Hong Kong. I understand that the three commercial banks have their own banknotes designed to showcase the beauty of Hong Kong. In my opinion, any design other than this current one is still better. Perhaps some designs like the Hong Kong Legislative Council complex on the front and the map of Hong Kong looking down from the sky on the back, or some Chinese calligraphy character writings.

 

The current 2018 note has the following signatures printed on the note

Hong Kong Financial Secretary - Paul Chan Mo-po (陳茂波) since 16.01.2017;

Chief Executive Monetary Authority - Norman Chan Tak-Lam (陳德霖) Tenure 2007-2009.

Ten Dollars

Dated 1.4.2007, P401a

 

Ten Dollars

Dated 01.10.2007, P401b

 

Ten Dollars

Dated 01.01.2012, P401c

 

Ten Dollars

Dated 01.01.2014, P401d

Reverse

 

Ten Dollars - 01.07.2018

Hong Kong Financial Secretary - Paul Chan Mo-po (陳茂波) since 16.01.2017;

Chief Executive Monetary Authority - Norman Chan Tak-Lam (陳德霖) Tenure 2007-2009.

 

Ten Dollars

Dated 01.07.2018

Reverse