Bank of England sticks with £5 note despite animal fat concerns
Last year it came to light that the new plastic fivers are actually made using tallow, a substance produced from animal fat.
The news sparked an online petition calling for the Bank of England to stop using tallow in the production of the notes, which has since attracted more than 130,000 signatures. You can read more about this in our previous blog.
The new £5 notes were released into circulation in September and caused a collecting frenzy! The new plastic £10 notes are due to enter circulation in September.
However, yesterday the Bank of England confirmed “that it would be appropriate to keep the £5 polymer note in circulation and to issue the £10 polymer note as planned, in September.”
The Bank said it undertook a careful review of options, including destroying current notes in circulation, reprinting the notes without the tallow additive and delaying the planned introduction of polymer £10 notes but concluded that taking action would be too costly and could put the efficiency of the counterfeit measures at risk.
So do you think the Bank of England’s decision to stick with the plastic notes despite the animal fat concerns is a good or bad idea?
Let us know in our poll:
[polldaddy poll=9666356]
The Great One Pound Coin Race Collector’s Kit
The Great One Pound Coin Race Collector’s Kit gives you everything you need to collect, house and protect your collection of £1 coins as you find them.
Each collecting kit includes:
– 24 x One Pound Coin Collector Cards
– 3 x Change Checker Collector pages
– A special collector card for the new 12-sided £1 coin so you can add one to your collection
– A title page detailing all 24 coins to collect from your change
– An opportunity to own the 2016 Last Round Pound that never entered circulation.
Plus you’ll receive The Great One Pound Coin Race Participant’s Medal (worth £5.00) absolutely FREE.
There’s no better way to house your collection of £1 coins – get yours today!
Order yours today for just £25 (a current saving of £5.00 on the normal price).
Britain’s favourite £1 coin – Vote now
As part of the Great One Pound Coin Race, we want to find out Britain’s favourite £1 coin.
Over the next few weeks we’ll be asking you to vote for your favourite £1 designs from each design category – UK, Scotland, Wales, Northern Ireland and England.
Let us know your favourite UK £1 coin design by voting in our poll below:
[polldaddy poll=”9651682″]
More information about the UK £1 coin designs
The UK Royal Arms £1 was issued in 1983, 1993, 2003, and 2008
The £1 Coin was first issued in 1983 as a replacement for the less robust £1 note – a note lasted for just 9 months on average, while a £1 coin can survive in excess of 40 years. The first £1 coin design features the Royal Coat of Arms designed by Eric Sewell, chief engraver at the Royal Mint.
The UK Crowned Shield £1 was issued in 1988
In 1988 a Crowned Royal Shield of Arms design was introduced. This design features the Royal Arms of Her Majesty The Queen, surmounted by the Crown of St Edward. All coins dated 1988 feature this design as this was the only year it was issued.
The UK Royal Arms Shield was issued in 2008, 2009, 2010, 2011, 2012, 2013, 2014 and 2015.
In 2008 a new reverse design for the £1 was issued featuring the Royal Shield of Arms – designed by Timothy Noad. The edge inscription in Latin reads DECUS ET TUTAMEN which translates as; An Ornament and a Safeguard. This dates back to the first machine struck coins minted in 1662 and refers to the inscription itself which was intended to prevent people scraping valuable metal off the edge of the coin – a process known as ‘clipping’.
The UK Royal Coat of Arms was issued in 2015
In 2015 The Royal Mint revealed a new £1 Coin design. Timothy Noad’s contemporary adaptation of the traditional Royal Arms design is one of the last commemorative designs to feature on the round pound coin, with the newly shaped coin due to enter circulation in 2017.
The UK Last Round Pound was issued in 2016
This 2016 £1 coin is the final ‘round pound’ issued by the Royal Mint, calling time on a coin which was first issued more than thirty years ago. The reverse design features the animals that represent each of the four constituent UK countries and was designed by Gregory Cameron. This coin will not enter general circulation and is only available to buy in a Brilliant Uncirculated quality.
Next week- Part 2: What’s your favourite Scottish £1 coin design?
This could be your last chance to secure Britain’s last ’round pound’.
If you want to get your hands on the last ‘round pound’ they are available here protectively encapsulated and certified as superior Brilliant Uncirculated quality.