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The Bank of England, which is now the central bank of the United Kingdom, British Crown Dependencies and British Overseas Territories, has issued banknotes since 1694. In 1921 the Bank of England gained a legal monopoly on the issue of banknotes in England and Wales, a process that started with the Bank Charter Act 1844, when the ability of other banks to issue notes was restricted.
Main articles: Banknotes of the pound sterling and Bank of England note issues. Note: The description of banknotes given here relates to notes issued by the Bank of England. Three banks in Scotland and four banks in Northern Ireland also issue notes, in some or all of the denominations: £1, £5, £10, £20, £50, £100.
The collection focuses on the role of the Bank as the creator of Bank of England banknotes. Banknotes and items related to their design and production make up around 30,000 items of the collection, with banknotes themselves making up about 10,000 of these. Items in the banknotes collection include: examples of every note the Bank has ever made;
It is being sold at Noonans Mayfair on March 14 by a long-time collector of British notes, who has owned it for almost 15 years. Rare £500 Bank of England note could fetch £24,000 at auction ...
The pound sterling banknotes in current circulation consist of Series G Bank of England notes in denominations of £5, £10, £20 and £50. The obverse of these banknotes issued through 4 June 2024 feature the portrait of Elizabeth II originally introduced in 1990.
The ‘historic moment’ marks the first time that the Bank of England has changed the sovereign on its banknotes.
The Bank of England £1 note was a sterling banknote. After the ten shilling note was withdrawn in 1970, it became the smallest denomination note issued by the Bank of England . The one pound note was issued by the Bank of England for the first time in 1797 and continued to be printed until 1984.
Although the Bank of England started to produce banknotes in the 17th century, Charles’s mother, Queen Elizabeth II, was the first British monarch to be given the honour in 1960 on a 1-pound note.