General info
Bank of England sticks with £5 note despite animal fat concerns
Last year it came to light that the new plastic fivers are actually made using tallow, a substance produced from animal fat.
The news sparked an online petition calling for the Bank of England to stop using tallow in the production of the notes, which has since attracted more than 130,000 signatures. You can read more about this in our previous blog.
The new £5 notes were released into circulation in September and caused a collecting frenzy! The new plastic £10 notes are due to enter circulation in September.
However, yesterday the Bank of England confirmed “that it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”
The Bank said it undertook a careful review of options, including destroying current notes in circulation, reprinting the notes without the tallow additive and delaying the planned introduction of polymer £10 notes but concluded that taking action would be too costly and could put the efficiency of the counterfeit measures at risk.
So do you think the Bank of England’s decision to stick with the plastic notes despite the animal fat concerns is a good or bad idea?
Let us know in our poll:
The Great One Pound Coin Race Starts Today – just 250 days to own a complete £1 Coin Collection
You have just 250 days to collect all 24 Round £1 Coin Designs.
They’ve been a part of our lives for 33 years but the Round Pound Coin will be withdrawn from circulation forever on the 15th October this year.
Starting from today, we’re encouraging collectors across the UK, to join the biggest race of its kind ever held – The Great One Pound Coin Race.
It’s totally FREE to enter the Race and by entering you’ll be able to:
- Collect all 24 circulating £1 coins direct from your change
- Receive collecting tips and suggestions to help you complete your One Pound Collection
- Track your progress with the Change Checker web app or on your FREE downloadable £1 Coin Race Sheet
- Swap coins online with other collectors to help complete your collection
- Win exclusive Gold-plated One Pound Coin Race Participant’s Medals
- Receive exclusive participant’s discounts and savings
33 Years of Round £1 Coins. 24 Designs. Gone in 250 days.
The first £1 coin was issued in 1983
The first £1 coin entered circulation right back in 1983 and featured the Royal Coat of Arms as its design. It was quickly followed the next year with a Scottish thistle design, followed by the Welsh leek, Northern Irish flax and the English oak in subsequent years.
In total 24 different designs have entered circulation with five different series representing the component countries of the UK. The remaining four designs have all been variations on the theme of the Royal Coats Arms. A final, twenty-fifth Round Pound Coin was issued by The Royal Mint in 2016 but it never entered general circulation.
Scarce £1 Coins still available for face value in your change
Of course some £1 coins are much rarer than others. It’s partly because mintages of the different designs vary vastly, from less than 1 million coins to over 300 million. But that’s only part of the story. Older issues are also often more difficult to find, especially in good condition.
The 3 lowest mintage £1 coins come from a series of UK Capital Cities issued in 2010/11
The three lowest mintage £1 coins in circulation come from a series of UK Capital City coins issued in 2010/11, with Edinburgh being the rarest with a mintage of 935,000 coins – just 0.04% of all the £1 coins ever struck.
But it’s still possible to find even these rare coins in your change along with all of the other 21 circulation £1 coins. But only for the next 250 days.
Once the 15 October has passed, you will have little chance of building a complete collection of £1 Coins at anything like their face value. So …
on your marks…
Get set…
Go…
The Great One Pound Coin Race is on. Start your race today, before it’s too late.
Pride without prejudice – how Jane Austen came to appear on our coins and banknotes in 2017.
2017 marks 200 years since the death of Jane Austen – one of the best-loved English novelists of all time. And to celebrate such an inspirational female figure, both The Royal Mint and the Bank of England chose to honour her on a brand new coin and banknote.
People power wins
Back in May 2013, a petition to ‘keep a woman on English banknotes’ gained momentum. Over 35,000 people signed the petition after it was announced that Winston Churchill would replace social reformer Elizabeth Fry as the face of the £5 note in 2016. At the time this meant that other than the Queen, there would be no women featuring on English banknotes.
However, people power won as Jane Austen became the new face of the polymer £10 note in 2017, replacing Charles Darwin.
It is thought that Jane Austen was already part of the Bank’s plans for the next new note as in a statement the Bank said it was “never the Bank’s intention” that none of the four characters on banknotes would be a woman.
The Bank of England have featured characters on their banknotes since 1970 to celebrate individuals that have shaped British thought, innovation, leadership, values and society.
Jane Austen is the 17th historical figure to feature on a Bank of England note.
So not only does Jane Austen feature on the new £10 note, The Royal Mint also feature this inspirational author on the new 2017 £2 coin. Designed by Dominique Evans, the new £2 features a silhouette of Jane Austen with the dates 1817-2017.
The £2 coin issued by The Royal Mint has been struck to mark the 200th anniversary of the death of Jane Austen, one of the best-loved English novelists.
This £2 for 2017 was struck to mark the 200th anniversary of the death of Jane Austen.
This was the first time ever that someone featured on a circulation coin and banknote at the same time – other than the reigning monarch.
A tiny portrait of Jane Austen also appears on four of the new polymer £5 notes as a microscopic engraving produced by Specialist micro-engraver Graham Short. The collector’s items are said to be worth over £20,000 each!
Own the 2017 Jane Austen £2 Coin and £10 Banknote Pack
This is your opportunity to receive one of the very first Polymer £10 notes issued in perfect mint condition alongside the 2017 Jane Austen £2 Coin issued by The Royal Mint.