Currency Information on British Pound - GBP — Pound Sterling - £
Divided in pence and pounds – 100 pence – or pennies- to one pound, Pound sterling is the official currency of The UK, Guernsey, Jersey, the British Antarctic Territory, Tristan da Cunha, the Isle of Man, the South Sandwich Isles and South Georgia. Pound Sperling is the only currency to have remained in continuous use since its introduction.
During decimalisation in 1971 the pound was declared as having 100 pence to the pound, before then, there was the equivalent of 240 pence to the pound - 12 pence to 1 shilling and 20 shillings to the pound.
Coins in circulation in pound Sterling are available in denominations of 1p, 2p, 5p, 10p, 20p, 50p, £1 and £2. Whilst 3p, 4p, 25p, £5, £20, £100 and £500 coins are not seen and never used.
Sterling banknotes are denominated into £5, £10, £20 and £50 notes, and, whilst £100 notes are available, they are rarely seen or used, and £1 notes are no longer available.
A friend of mine pointed me in the direction of this website when I was buying a classic car from overseas, naturally I wanted to get the best exchange rate possible in order to help cover shipping and import taxes. After a quick browse of the website it became clear an FX broker was my best option so I used the comparison table to compare my shortlist of candidates and requested some quotes. I was contacted nearly straight away and after playing two of the brokers off for a little while I secured a great rate. I literally saved thousands as I was initially going to use my bank just for the 'security' factor like i'm sure a lot of others do but after a quick comparison I realised all the brokers are authorised by the FCA just like the banks so my money was going to be safe regardless. The money I saved on the transfer paid for the shipping and import taxes which was massive boost and I couldn't be happier with the service. I would recommend this website to anyone looking at buying property, emigrating or making payments overseas as you can save some serious money! All the Best,
Comment written by Philip Chadwick.
View more testimonials...