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Introduction to the British Currency Pound
Due to the passing of Queen Elizabeth II at the age of 96 on September 8, 2022, the future currency of the United Kingdom will feature a different portrait.
The official currency of the United Kingdom is the pound sterling, which is used in England, Wales, Scotland, and Northern Ireland. Its abbreviation is GBP. Even after the UK's decision to exit the European Union, the pound has remained unchanged.
The pound is divided into pounds (Pound) and pence (Pence). The symbol for the pound is £, and one pound is equal to 100 pence. Currently, the banknotes in the UK are available in denominations of £5, £10, £20, and £50. Coins are available in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. Among them, the £1 coin is sometimes referred to as "quids" by locals. So, if you hear this term on the street or in a shop, don't be confused. It is a slang term referring to the value, not the physical coin itself. Each denomination of banknote and coin in the pound has different colors and designs. However, one common feature of all British currency is that they bear the image of the Queen. Typically, the banknotes have the Queen's portrait on one side and landmarks, historical figures, or national symbols on the other.
Please note that although Scotland and Northern Ireland use the pound as their currency, their banknotes have different designs from those issued in England and Wales. This means that the appearance of the banknotes differs. However, Scottish and Northern Irish banknotes do not have the same legal tender status in England and Wales. Only banknotes issued in England and Wales are considered official legal tender in the UK. Nevertheless, they can be used legally. It's important to mention that most businesses in England and Wales are not obligated to accept Scottish and Northern Irish banknotes, meaning they have the right to refuse them. This is often because businesses may be unsure how to verify the authenticity of these banknotes. Therefore, it's best to use the respective banknotes in their corresponding regions. However, if you visit Scotland and have unused Scottish banknotes, you can usually exchange them for English banknotes at most banks free of charge.
Ten Rise Meow Reminder: It is generally not advisable to use euros in the UK. Most businesses do not accept euros. However, there are a few exceptions, such as iconic department stores like Harrods, Selfridges, and Marks & Spencer, which may accept euros.
Introduction to Pound Banknotes
The £50 banknote
The £50 banknote in the United Kingdom is generally a red-colored note featuring the portraits of Matthew Boulton and James Watt. James Watt is known for inventing the modern steam engine. In 1775, he co-founded an engineering and manufacturing company in Britain in collaboration with Matthew Boulton.
£20 Banknote
The Bank of England introduced the £20 banknote featuring Adam Smith in March 2007. The reverse side of this banknote bears the portrait of Adam Smith, an 18th-century Scottish philosopher and economist. This banknote is of the same size as the previous £20 note featuring the British composer Sir Edward Elgar and shares a similar color scheme (purple).
In 2020, a new version of the £20 banknote was released, replacing the one featuring Adam Smith. The new banknote features the portrait of the renowned British painter J.M.W. Turner. It includes a self-portrait of Turner, which can be seen in the same painting displayed at Tate Britain in London in 1799. The banknote also depicts the ship depicted in Turner's artwork "The Fighting Temeraire" and bears the artist's signature quote, "Light is therefore colour."
£10 Banknote
The £10 banknotes issued by the Bank of England are commonly referred to as "£10 notes." The older version, as shown in the image above, features Charles Darwin, who is renowned for his theory of evolution and natural selection. The "Charles Darwin Series" £10 note was introduced in 2000 and ceased to be issued in March 2018.
In March 2018, the United Kingdom introduced a new version of the £10 banknote, as shown in the image above. The new £10 banknote features the portrait of the renowned writer Jane Austen. On the front side, there is a new hologram with a crown and a transparent portrait of Queen Elizabeth II, along with Winchester Cathedral in gold foil. The back side of the banknote displays a silhouette of Jane Austen, a quote from "Pride and Prejudice," an illustration of Elizabeth Bennet, and an image of Godmersham Park. This new banknote is also made of polymer and is waterproof.
£5 Banknote
The £5 banknote, also known as the "Fiver," was first circulated in 2001 and ceased to be in circulation in May 2017. It features the 19th-century prison reformer and philanthropist Elizabeth Fry. Fry is often referred to as the "Angel of Prisons" for her advocacy of legislation to improve the humane treatment of incarcerated individuals.
The new £5 banknote, issued in the autumn of 2016, features Queen Elizabeth's portrait on one side and Sir Winston Churchill's portrait on the other. These vibrant blue-green banknotes are considered cleaner and more difficult to counterfeit due to enhanced security features. Similar to the £10 banknote, the new £5 banknote is made of waterproof polymer. Both the £5 and £10 banknotes have a common issue of sticking together due to static electricity. Therefore, if you have multiple new banknotes, make sure you don't accidentally use two instead of one when making a payment.
Introduction to Pound Coins
The £1 Coin
Initially, the £1 coin may have appeared similar to the £2 coin. They both featured the design of Queen Elizabeth II by Jody Clark on the obverse side and were bimetallic. However, the new version of the £1 coin, introduced in March 2017, is dodecagonal (12-sided) with a completely new design on the reverse side. The designs on the reverse side pay tribute to the four nations of the United Kingdom: the English rose, the Scottish thistle, the Welsh leek, and the Northern Irish shamrock, all emerging from the top of the crown.
Before the introduction of the initial £1 coin in circulation in the 1980s, £1 banknotes issued by the Bank of England were in use. Although the £1 coin is the primary currency today, the old £1 banknotes are still issued by the Royal Bank of Scotland and used in Jersey, Guernsey, and the Isle of Man.
£2 Coin
The £2 coin in the United Kingdom has a silver-colored center and a gold-colored outer ring. Since its introduction in 1997, the £2 coin has featured three different portraits of Queen Elizabeth II. The current portrait, designed by Jody Clark, was introduced in 2015.
The reverse side of the £2 coin has also undergone changes. The initial design, by Bruce Rushin, was in circulation from 1997 to 2015. It featured a connected series of gears and the inscription "Standing on the shoulders of giants," symbolizing technological progress in the UK from the Iron Age to the Industrial Revolution. The latest version of the coin in circulation today features Antony Dufort's design of Britannia, with the inscription "Quatuor maria vindico," meaning "I shall claim dominion over the four seas."
50 Pence Coin
The 50 pence (50p) coin is a seven-sided silver coin. Since its first minting in 1969, the obverse side of this coin has featured the portrait of Queen Elizabeth II.
20 Pence Coin
The 20 pence (20p) coin and the 50 pence (50p) coin do appear very similar as they are both seven-sided silver coins featuring the portrait of Queen Elizabeth II on the obverse side and a Royal Shield on the reverse side. If you find yourself confused, you can differentiate between them by looking at the label on the reverse side of each coin ("20p" or "50p").
10 Pence Coin
The 10 pence (10p) coin is circular and silver in color. It features the portrait of Queen Elizabeth II on the obverse side and a partial depiction of the Royal Shield on the reverse side.
5 Pence Coin
The 5 pence (5p) coin is equivalent in size to the 10 pence coin. They are both circular and silver in color, featuring Queen Elizabeth II on the obverse side and a partial depiction of the Royal Shield on the reverse side. However, the 5p coin is much smaller in size compared to the 50p, 20p, and 10p coins.
2 Pence Coin
The 2 pence (2p) coin is noticeable due to its copper composition. It retains the same design: the portrait of Queen Elizabeth II and a partial depiction of the Royal Shield.
1 Pence Coin
The 1 pence (1p) coin is commonly referred to as the "penny." It is the lowest denomination coin in circulation in the United Kingdom.
Reference:
https://www.tripsavvy.com/basic-information-about-uk-currency-1582421
https://www.tripsavvy.com/uk-currency-photographs-4123326