Few contemporary artists have captivated the public’s imagination like Banksy. An enigmatic figure whose works combine sharp wit with scathing social commentary, Banksy has transcended the art world to become a cultural icon. Among his many provocative creations, the 'Di-Faced Tenner' - a satirical take on British currency - stands out as a quintessential example of his ability to critique power, wealth and societal structures with ingenuity.
Let’s explore the history and significance of this curious yet powerful piece.
The History of the Di-Faced Tenner
In 2004, Banksy introduced the 'Di-Faced Tenner', a counterfeit £10 note that replaced Queen Elizabeth II's image with that of Diana, Princess of Wales. The note also humorously changed the issuing bank to read “Banksy of England,” and included the provocative text, “I promise to pay the bearer on demand the ultimate price.” The piece’s title, a pun on “defaced,” perfectly encapsulates its mischievous tone.
Banksy originally produced thousands of these notes for his 'Santa’s Ghetto' exhibition in London, where they were scattered among crowds and distributed for free. This act blurred the line between art and object, challenging notions of value and authenticity.
Later, the 'Di-Faced Tenner' gained renewed attention in 2007 when Banksy famously used it as a prop during the Glastonbury Festival, further embedding it in popular culture. It remains one of his most recognisable works, despite never being a traditional piece of street art.
In 2019, the British Museum, one of the most revered cultural institutions in the world, acquired a note as part of its permanent coin and currency collection. This acquisition is a remarkable moment for Banksy’s career and for contemporary art at large. It represents the intersection of art, history and currency in a way few other works can claim.
By including the Di-Faced Tenner in its prestigious collection, the British Museum legitimises the work not just as a piece of contemporary art but as a cultural artefact with historical significance. This is an extraordinary shift, considering the work’s satirical and subversive nature. Banksy, who has often critiqued institutions like museums, now has his work preserved by one of the world’s most prominent.
Adding a further layer of intrigue, Banksy incorporates torn-in-half versions of the 'Di-Faced Tenner' into the official Pest Control Certificates of Authenticity that accompany his works. This detail is more than a clever flourish—it’s a reinforcement of the themes embedded in the 'Di-Faced Tenner itself': the tension between value and destruction, authenticity and subversion.
By tearing these notes in half, Banksy symbolically “devalues” them, yet their very inclusion on the certificate adds to the work’s legitimacy and appeal. It’s a paradox that perfectly encapsulates Banksy’s genius: challenging the system while participating in it. These halved tenners become another layer of his art, questioning what constitutes worth and originality.
The Significance of the Di-Faced Tenner
Critique of Capitalism and Value
At its core, the 'Di-Faced Tenner' is a biting commentary on capitalism, consumerism and the art market itself. By parodying legal tender, Banksy questions the arbitrary value we assign to money and art. The notes’ distribution for free further emphasised their role as a critique, rather than a commodity. Yet, ironically, these tenners have since become highly collectable, with individual notes fetching thousands of pounds at auction.
Satire and the Cult of Celebrity
The replacement of the Queen’s face with that of Princess Diana adds another layer of critique. Diana, revered as the “People’s Princess,” represents an idealised counterpoint to institutional authority. By placing her image on currency, Banksy juxtaposes the perceived humanity of Diana with the cold symbolism of power embodied by the monarchy and the financial system.
Art as Subversion
The 'Di-Faced Tenner' embodies Banksy’s ethos of subversion. In defacing a symbol of economic and political stability, he forces viewers to confront uncomfortable truths about systems they take for granted. The work's very existence challenges the concept of what constitutes art: Is it the counterfeit note, the act of creating it, or the cultural dialogue it inspires?
The inclusion of the note in the British Museum’s collection is laden with irony. Here is a piece that challenges institutional authority, now embraced by one of the world’s most authoritative cultural institutions. This move reflects a broader trend in how subversive art is co-opted by the establishment it critiques.
From an investment perspective, this legitimisation adds a layer of prestige to the 'Di-Faced Tenner', further cementing its place in art history. Yet, one cannot help but wonder: does this institutional validation dilute the work’s subversive power, or does it amplify its critique by infiltrating the system it lampoons?
The 'Di-Faced Tenner' has become a collector’s item and a cultural artefact, cementing Banksy’s place in the art world as a master of irony. While it began as an ephemeral project, its significance has only grown over time, particularly as the art market has paradoxically elevated its value.
Moreover, the piece is a precursor to broader discussions about the intersection of art and value in the 21st century, echoing themes explored in cryptocurrency, NFTs, and other digital art forms. It remains a touchstone for discussions about how art can critique systems while inadvertently participating in them.
The enduring appeal of the 'Di-Faced Tenner' lies in its contradictions. It critiques value while becoming valuable; it mocks the establishment while being absorbed by it. In many ways, it epitomises Banksy’s broader oeuvre, which thrives on this tension.
As collectors and admirers of contemporary art, it’s essential to engage with works like the 'Di-Faced Tenner' not just as objects, but as provocations. They challenge us to think about what we value and why, and to question the structures that underpin those values.
At Creed Gallery, we champion the exploration of such questions, helping collectors navigate the intersection of meaning, culture and investment. Whether it’s acquiring a thought-provoking work or understanding the nuances of an artist like Banksy, our goal is to connect you with art that resonates.
Interested in exploring contemporary and subversive art? Contact Creed Gallery to discover how we can guide your journey.
Written by Zaid Alexander Badda
Gallery Director, Creed Gallery