Posts by Change Checker
Who was John Houblon?
The Bank of England recently broke the news that the £50 note featuring John Houblon will be taken out of circulation by 30th April this year. This has led to some big questions: firstly, do I have a wad of notes hidden away nearing their expiration date? (No.) And secondly, who exactly was John Houblon and why has he been the face of England’s highest bank note denomination for the last 20 years?
Sir John Houblon – a true pioneer
John Houblon was born in 1632 to a strictly Protestant family, and raised into the family business of merchant shipping. Samuel Pepys made frequent references to the Houblon family, most notably when they bailed him out of imprisonment in the Tower of London.
John later married Marie, the daughter of a Flemish refugee and acquired the lease on a house in Threadneedle Street in 1671. As a prominent merchant, he became renowned in London for his fair business dealings and generous public spirit, and his standing in the community grew, resulting in a knighthood in 1689.
Sir John then became Lord Mayor of London in 1695 and was a Lord Commissioner of the Admiralty between 1693 and 1699. When the Bill for the foundation of a national Bank was approved in Parliament, Sir John was instrumental in both financial investment and creating the managing structure, taking up his position as the first ever Governor of the Bank of England on Tuesday 10th July 1694.
The home of the Bank of England
After the death of Lady Houblon in 1732 Sir John Houblon’s house and gardens became the site of the Bank of England, and remains so to this day. The design on the back of the Houblon note even features an image of his original house in Threadneedle Street.
Remember to spend or exchange your Houblon £50 notes by 30th April 2014!
Claim your FREE 2014 Coin Collecting Pack for all the brand new 2014 commemorative coins as you spot them in your change.
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Is your £50 note about to expire?
If you’re lucky enough to have a stash of £50 notes tucked away in your mattress, you may want to dig them out and check if they’ll still be worth anything in a few months.
The Bank of England has announced that the old-style £50 notes which have been around for nearly 20 years will be soon be removed from circulation, and can only be used up until 30th April this year.
The note in question features Sir John Houblon who was the Bank of England’s very first governor. It was first issued in April 1994 and it’s estimated there are still 63 million of them in circulation.
The decision comes following a review of the note’s ability to withstand fraud. From May onwards, only the £50 banknote featuring entrepreneur Matthew Boulton and engineer James Watt will hold legal tender status and any institution is within their rights to refuse the old-style notes.
The Boulton and Watt note was the first to include a green ‘motion thread’ which has five windows featuring the pound symbol and the number 50 which moves when the note is tilted from side to side. The two men appear on the new note partly because of the integral role they had in manufacturing coins which were more difficult to counterfeit.
Exchange before 30th April
In a video placed on YouTube, Victoria Cleland, head of notes division at the Bank, advises: “If you have any Houblon £50 notes, it’s best to spend, deposit or exchange them before 30 April.”
However, there’s no need to panic just yet; Barclays, Natwest, RBS, Ulster Bank and the Post Office have agreed to exchange any older-style £50 notes for customers and non-customers up to the value of £200 until 30th October.
FAQs
More details about the withdrawal have been included on a poster issued by the Bank of England should you have any queries or concerns.
A new Edith Cavell £2 coin?
In the wake of the furore surrounding the brand new First World War commemorative £2 featuring Lord Kitchener, a few ideas have been mooted as to who else should be included in the five-year commemorative coin series from outbreak through to armistice.
The new Kitchener £2 has been criticised for being too jingoistic
Kitchener’s famous finger pointing at the reader and his call ‘Your Country Needs You’ has been branded by critics as jingoistic and a glorification of war rather than a reflection on the sheer loss of life which occurred.
The Royal Mint has confirmed that future designs would include other figures connected with the war, but have remained tight-lipped on who these figures will be.
35,000 Signatures
Edith Cavell is amongst the most popular suggestions, and a petition with over 35,000 in signatures has added considerable weight to the case.
An artist’s impression of what an Edith Cavell £2 coin might look like
Born as the daughter of a vicar in 1865, Edith Cavell was the wartime nurse who was executed for providing care to wounded soldiers irrespective of their nationality. She, along with Belgian and French colleagues helped over 200 Allied soldiers escape from German-occupied Belgium. She was arrested by a German military court, found guilty of ‘assisting men to the enemy’ and despite worldwide condemnation, was shot by a German firing squad on 12 October 1915.
Patriotism is not enough…
Her last words were “I realise that patriotism is not enough, I must have no hatred or bitterness towards anyone.”
Thousands of people lined the streets for her funeral procession before she was buried at Norwich Cathedral.
Sioned-Mair Richards, the Sheffield Labour Councillor who started the petition believes Cavell was ‘simply a nurse trying to do her duty, and should be honoured by her country as a woman who was one of the best’.
Which design would you prefer to appear on this year’s £2 coin? Our poll is now closed – see the results below.
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