Scotland Sterling notes Scottish coin coins money currency finance
Image details
Contributor:
Tony Smith / Alamy Stock PhotoImage ID:
EDR637File size:
60.2 MB (2.9 MB Compressed download)Releases:
Model - no | Property - noDo I need a release?Dimensions:
5616 x 3744 px | 47.5 x 31.7 cm | 18.7 x 12.5 inches | 300dpiDate taken:
4 January 2015Location:
Scotland, United KingdomMore information:
Sterling banknotes are the banknotes in circulation in the British Islands (encompassing the United Kingdom and the British Crown dependencies), denominated in pounds sterling (symbol: £; ISO 4217 currency code GBP). One pound is equivalent to 100 pence. The pound is the official currency of the United Kingdom and the Crown dependencies of Britain. Three British Overseas Territories also have currencies called pounds which are at par with the pound sterling. The Bank of England does act as a central bank in that it has a monopoly on issuing banknotes in England and Wales, and regulates the issues of banks in Scotland. The issuing of retail-bank banknotes in Scotland is subject to the Bank Charter Act 1844, Banknotes (Scotland) Act 1845, the Currency and Bank Notes Act 1928, and the Coinage Act 1971. Pursuant to some of these statutes, the Commissioners for Revenue and Customs publishes an account of "the Amount of Notes authorised by Law to be issued by the several Banks of Issue in Scotland, and the Average Amount of Notes in Circulation, and of Bank of England Notes and Coin held" in the London Gazette. See for example Gazette Issue 58254 published 21 February 2007 at page 2544