British Pound Sterling

British Pound Sterling Money

The Pound Sterling is the official currency of the United Kingdom.

Symbol: (£)

Subdivisions: 100 pence (penny – singular)

Denominations:
Coins – 1p, 2p, 5p, 10p, 20p, 50p, £1, £2.
Notes – £5, £10, £20, £50.

Advisory: £50 notes are not in widespread circulation, and many smaller shops and food outlets will refuse to accept them. The same goes for Scottish Banknotes; although they are legal tender, many establishments will not accept them due to a fear of counterfeiting.

Central Bank: Bank of England

Mint: Royal Mint

Currency Code: GBP

Reserve Currency Ranking: 3rd

Countries of Use: United Kingdom, Isle of Man, Channel Islands, South Georgia and the South Sandwich Islands, British Antarctic Territory, Tristan da Cunha, Gibraltar, Falkland Islands, Saint Helena and Ascension.

Nickname: Quid.

Interesting Fact: The pound was a unit of account in the Anglo Saxon times (around 550 – 1066 AD) it was equal to 240 silver pennies and equivalent to a one pound weight of silver.

Miscellaneous:

  • There are 40 special notes named ‘Titan.’ A Titan is a £100,000,000 (one hundred million pound) bank note. These notes are specific to the banking system and are unobtainable by the general public.