The official currency in the UK is the British Pound Sterling (£ Great British Pound (Sterling) More) and is decimal based like the dollar, there are 100 pence in a pound. Thankfully, we haven’t had to deal with the previous system of currency which was in place only just before the early seventies where there were 240 pennies to a pound (12p = one shilling).

Coins

The coins are 1p, 2p, 5p, 10p, 20p, 50p, £1, £2.  They are referred to as pence, instead of cents.

Currency Notes

The British call their paper currency bills “notes” only, never “bills”. A common nickname for the pound is “quid”, similar to how the “buck” is a nickname for the American dollar. The notes are in denominations of £5, £10, £20, and £50. You won’t often see the larger notes any more to combat loss to counterfeits. This concern has also led to a redesign of notes to include clear windows and a more plastic-like texture, enhancing security features.

The older £5 and £10 notes are no longer in circulation, but if you have some from previous visits, or your old winter coat pockets, they can usually be exchanged for the new notes at any bank.

There are other currencies as well, though I’m under the understanding that in Scotland, some of the Channel Islands and elsewhere, they have their own printed/minted coins and notes, they are exchanged at the equivalent of the Pound Sterling. Scottish notes are legal tender in the rest of the UK, but Channel Islands notes and coins are not.

The Euro

The
The Euro is a currency of the European Union, of which the UK never adopted, even when they were part of the EU. More was never an officially accepted currency in the UK, and since the UK left the European Union More, it is unlikely to ever be. If you’d like to learn more about Britain’s dance around the Euro, there is more about the Euro and the UK’s previous aversion to joining it here, UK and the Euro (Wikipedia).