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Old 08-10-2009, 10:19 AM   #19
UKFlamesfan
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Quote:
Originally Posted by Otto-matic View Post
I think only in Canada we have a law restricting the amount of pennies used
Nope, it's the same in the UK too.

Quote:
In the United Kingdom, only coins valued 1 pound Sterling, 2 pounds Sterling, and 5 pounds Sterling are legal tender in unlimited amounts throughout the territory of the United Kingdom. In accordance with the Coinage Act 1971, gold sovereigns are also legal tender for any amount. The face values of sovereigns are 50p, £1, £2 and £5; their value in material worth is much higher. The United Kingdom legislation that introduced the 1 pound coin left no United Kingdom-wide legal tender banknote.


Currently, 20 pence pieces, 25 pence coins and 50 pence pieces are legal tender in amounts up to 10 pounds; 5 pence pieces and 10 pence pieces are legal tender in amounts up to 5 pounds; and 1 penny pieces and 2 pence pieces are legal tender in amounts up to 20 pence.
THere is however a difference between 'legal tender' and 'legal currency'. The classic example of this for us is that Scottish bank notes are not 'legal tender' in England, but are 'legal currency'.

Last edited by UKFlamesfan; 08-10-2009 at 10:21 AM.
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