Bank of England

This tag is associated with 9 posts

Scotland Seeks Out Currency Options

In the face of a looming referendum that could see Scotland proclaim its independence from the UK, politicians have begun fielding questions on the issue of the country’s currency. If Scotland gains independence, they will have to choose whether or not to continue using the British pound – the currency used throughout the United Kingdom. […]

European Central Banks Look For Contingencies Should Euro End

Central Banks in Europe reportedly evaluating contingency plans for additional printing capacity should the Euro come to an end. According to an article published by RT.com, central banks throughout Europe are preparing contingency plans evaluating their needs for additional printing capacity should the euro – a singular currency shared by seventeen countries – come to […]

Bank Of England Gives Public Tips On Authenticating New Banknotes

The new £50 banknote was released into circulation this week in the UK, but the Bank of England said consumers should be aware of all the new security features on the note in order to avoid any fakes. Some simple measures for verifying the authenticity of the new notes include: – checking for the unique […]

UK To Introduce New £50 Note Next Month

Two years after unveiling its design, The Bank of England will introduce a new £50 banknote into circulation on November 2. The new note will feature the portraits of entrepreneur Matthew Boulton and engineer James Watts – a duo that pioneered the use of steam engines in textile manufacturing during the 18th century. This marks […]

Bank of England Considers Polymer Notes

In an effort to make some of their banknotes more durable and counterfeit proof, the Bank of England is considering the introduction of polymer banknotes. The £5 banknote is the most likely candidate to be switched first as it is the lowest denomination and therefore the most frequently used, however the Bank has also said […]

Britain To Increase £5 Banknote Output

After years of encouragement by the Bank of England, merchants and consumers, Great Britain will soon see a significant increase in the amount of £5 banknotes in circulation. The move comes after a rather successful year-long pilot project undertaken by HSBC to increase the number of automated teller machines (ATMs) that distribute £5 banknotes (read […]

Britain Attempts £5 Banknote Revival

In an attempt to revive the life of the £5 banknote, British banks will soon make the notes available in automated teller machines (ATMs). The Bank of England says the £5 was beginning to fall out of circulation because many people now consider the denomination to be “small change.” As a result, a bank source […]

“Counterfeiting, A Three-Part Series.” Part 1: A history of counterfeiting

*This article is the first in a three-part series on counterfeiting. The act of counterfeiting is as old as money itself. Plaguing ancient Rome, empirical China, newborn America, and many other nations over the past 2500 years, the illegal activity came hand in hand with the creation of money. Even prior to the invention of […]

British Business Leaders Demand More Ten Dollar Banknotes

In a prime example of how the demand for banknotes is rising even in a plastic and digital age (see also: Combating Counterfeiting: A Brief History of Security Features ), the Daily Mail reported this week that British business leaders have urged the Bank of England to increase the number of £10 notes in circulation. […]