Posts Tagged ‘history’
50 years in the making – from 3d to £1: the story behind the new £1 coin
In just a few weeks, Britain’s one pound coin will undergo a major makeover. The familiar round pound will change to become bi-metallic and 12-sided and will also have several new security features. But the shape of this new £1 coin is actually a throwback to the thrup’nny bit – an old favourite from the pre-decimal era.
The 12-sided threepenny is fondly remembered for its individuality. There was quite literally nothing like it before, and it holds the proud title of Britain’s first non-circular coin.
But, of course, it’s not the first major change in the nation’s £1.
I’ve taken a look back at some of the key changes for Britain’s coinage over the last 50 years to welcome the brand new 12-sided £1 coin, when it is issued on 28th March.
The 28th March 2017 is sure to become a historic day as we welcome the new coin which has been billed to become the most secure circulating coin in the world. This will be the first specification change to our £1 coin in more than 3 decades.
But the Thrup’nny Bit deserves recognition for being the inspiration behind our new £1 coin which is sure to become a collecting sensation. The Thrup’nny Bit was eventually withdrawn from circulation in 1971 after the introduction of decimal coinage which didn’t include Three Pence as a denomination. However, its legacy lives on, and is still widely regarded as one of the most iconic coins in British history.
The Story of the new £1 Collector’s Pack
Click here to secure the ‘Story of the £1 Collector Pack’ which has space for you to house the new 12-sided £1 coin once you find it in your change, alongside the UK Brass 12-Sided Threepence Coin.
Just 100 days left to spend your old £5 note
Time is running out to spend the old cotton paper £5 notes. In just 100 days, on the 5th May 2017, the old £5 note will cease to be legal tender. This means you wont be able to use them as payment.
The Bank of England have predicted that the number of old £5 notes in circulation has halved, although its thought that almost 165 million of these fivers are still out there.
But don’t worry too much if you come across old banknotes after 5th May. The Bank of England notes retain their face value for all time, so you will still be able to exchange your notes at the Bank of England.
The Bank of England was established in 1694 to raise money for King William III’s war against France. Since then, the Bank have been issuing bank notes.
We’ve taken a look back at previous Bank of England £5 notes since their inception over 200 years ago.
1793: The white fiver – Britain’s most famous banknote
There are not so many people about today who remember using the White Fiver, especially since it has been almost 60 years since its last year of issue. But it’s certainly the most famous British banknote ever issued.
With dimensions of almost 20cm x 12cm, the ‘White Fiver’ was almost two times larger than today’s polymer £5 note.
Not only would it not fit in your wallet today, it was also considered too vulnerable for copying – particularly after the Nazi’s Operation Bernhard tried to destabilise the British economy with fake ‘White Fivers’
This famous banknote was printed for the last time in 1956 – a century and a half after it was first issued by the Bank of England in 1793.
1957: Series B – the first double-sided and multi-coloured £5 note
First issued in 1957, the new £5 banknote was revolutionary. Not only was it the first multi-coloured banknote, it was also the first note to feature a watermark image which could be viewed from both sides of the note.
Designed by Stephen Gooden, the note featured a helmeted Britannia on the front as well as an image of St George and the dragon in the centre, while the back featured a Lion holding a key.
This particular banknote was short lived with only this design being accepted and printed. It was also this type of banknote that was stolen during the Great Train Robbery in 1963. This note continued to be legal tender until June 1967.
1963: Series C – The portrait series
The Series C £5 banknote was issued in 1963, and was part of the portrait series – this note being the first £5 to depict a portrait of a monarch.
Designed by Reynolds Stone, Queen Elizabeth II features on the front of the note in a oval window. The back of the note features a full body depiction of Britannia seated with her famous shield holding her trident in one hand and an olive branch in the other.
Among his other work, including book illustrations, portraits and engravings, Reynolds Stone also designed the official coat of arms in 1955 which is still reproduced today on the cover of our UK passports.
This banknote continued using complex designs and drawings as a security measure against counterfeits.
1971: Series D – The Pictorial Series
The 1971 Series D £5 note was designed by Harry Eccleston and was part of the series that became known as pictorial bank notes. For the first time, Series D notes not only had an image of the Queen on the front but depicted a historical figure on the reverse.
Arthur Wellesley, the 1st Duke of Wellington and one of the leading military and political figures of 19th-century Britain, featured as the historical figure on the back of this note.
On this banknote, the Queen is depicted wearing the George IV State Diadem with Queen Victoria’s Golden Jubilee necklace, while on previous notes the Queen had been shown wearing the diadem with a pearl necklace. Next to the Queen there is an image of Nike the goddess of victory and below that a seal showing Britannia.
In 1987, this banknote was revised to feature an increased width of the metal thread, which doubled to 1mm.
1990 – 2016: Series E
Designed by Roger Withington, the Series E banknote was first issued in 1990 and was the first £5 to be truly multi-coloured as well as a windowed metal thread security feature.
Roger Withington, banknote design manager at The Bank of England at the time of issue, put a strong emphasis on the turquoise blue colour used in the design. The chief cashier signature is also blue, which at the time, was considered quite radical.
The design features the historical figure George Stephenson, who was an English civil & mechanical engineer. He is best known for his achievements building the worlds first inter-city steam locomotive railway system.
The Series E £5 banknote has been revised twice since its initial release in 1990. The first revision was made in 1993, which saw the £5 at the top of the banknote changed to a darker and bolder colour – dark blue for the front and olive for the rear. This banknote ceased to be legal tender in 2003.
Still in use today, is the Series E (Version three) £5 issue.
Issued in 2002, the historical figure on the reverse of the banknote depicts Elizabeth Fry instead of George Stephenson.
Elizabeth Fry was an English activist and social reformer who had a massive influence on the the treatment of prisoners. In 1818 she also became the first woman to give evidence in Parliament. The images on the back of the note are related to the life and work of Elizabeth Fry. This banknote will cease to be legal tender on May 5th 2017 – that’s in 100 days time.
2016: The first Bank of England polymer banknote
The Bank of England issued the first ever poly,er banknote into circulation on 13th September 2016.
The new £5 note features an image of Sir Winston Churchill, alongside the famous quotation from his first speech as Prime Minister: ‘I have nothing to offer but blood, toil, tears and sweat.’
This banknote has been considerably popular among the general public and has been the subject of many headline news stories since its release. You can find out more about the new polymer banknote in our blog ‘Everything you need to know about the new polymer £5 note’.
A new polymer £10 note
This summer, we’ll see a new £10 note in circulation. The new £10 note will be made of polymer and Jane Austen will become the 17th historical figure to feature on a Bank of England note, replacing Charles Darwin.
If you want to keep up to date with news and information regarding the new Jane Austen Polymer £10 banknote, please leave your details below and we will contact you in due course with more information.
Please note we will only use this information to contact you about specifically about the Jane Austen Polymer banknote.
200 years of the Sovereign – Britain’s flagship coin
In 2017, we will celebrate the 200th anniversary of the modern sovereign – a coin renowned for its impeccable quality and craftsmanship.
The ‘Great Recoinage’ was the British government’s attempt to re-stabilise the currency of Great Britain following economic difficulties caused by both the French Revolutionary and Napoleonic Wars. On the 22nd June 1816, the Coinage Act was passed and was given Royal Assent.
Not only were silver coins reintroduced into circulation, the Gold Sovereign returned to become the symbol of Britishness across the Empire.
As we approach the 200th anniversary, we take a look at some of the key Sovereign designs through the years…
The designs that have appeared on Sovereigns throughout the years are all of significant importance but since the first ‘modern’ Sovereign 200 years ago, Benedetto Pistrucci’s St George and the dragon has become synonymous with the Sovereign, the gold coin that set new standards for accuracy that defined a currency.
Click here to download a pdf version of the Change Checker Sovereign graphic.
Own your own piece of numismatic history
Today you can reserve the brand new 2017 Bicentenary Gold Proof Sovereign