Even after that youĬan still exchange the old notes for new ones at UK banks. Ones continue to be legal tender for a considerable time. Last time this note was replaced was 1999. On the 13th March 2007 a new £20 note was issued by the bank of England. This is the first bank note in the UK to feature two Known as an 'F' series note, the first of which was the twenty pound note issues James Watt was an engineer perhaps best known for his part in inventing the separate condenser, an improvement on the Newcomen steam engine. Matthew Boulton was a business entrepreneur from the 18th century while Queen on one side while the other side shows Matthew Boulton and engineer James On the 2nd August 2011 a new £50, designed by Chris Salmon, was issued. While the front is still Queen Elizabeth II. "I have nothing to offer but blood, toil, tears and sweat". On the back is the face of Winston Churchill along with his famous quote of The new version will last 2.5 times longer making them better value. The old five pound note no longer being legal tender after May 2017. Its made from a material called polymer which is a flexible thin plastic. 15% smaller than the older traditional paper type in use at the time. There is also a silver strip that shows when held up to the lightįirst plastic note, the new five pound note. Watermark is the Queens head and shows in the egg shaped white space on all theĪbove notes. Watermark that is visible to the eye only when held up to the light. Like the UK coins the notes all carry the Queens head. Notes in 2005: 5 pounds, 10 pounds, 20 pounds, 50 pounds. The 1 penny and 2 pence piece are bronze, the 5, 10, 20 and 50 pence piecesĪre silver and the 1 and 2 pound coins are gold. So two pound forty pence would be written: £2.40Ĭurrently the currency in use is as follows:Ĭoins: 1 penny, 2 pence, 5 pence, 10 pence, 20 pence, 50 pence, one pound, 2 Or is sometimes shown as GBP (Great Britain Pounds) Under this system 100 pence is equal to one pound making working with the UKĬurrency far easier. UK currency is known as BRITISH STERLING. Pence doing away with shillings altogether. So with decimalisation came a system of pounds and Line with the metric systems used in Europe which are based on a logical system UK moved to a new system called decimalisation and brought the currency into Shilling and 20 shillings was equal to one pound. In the system used at that time 12 pennies was equal to one Prior to February 15th 1971 the British currency system was known as pounds,
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