I’ve been trying to keep an open mind about life in London. Cultural quirks are part of what makes world travel interesting, so there’s no sense in being judgmental, right? There are probably perfectly good reasons why Brits drive on the opposite side of the road and put mayonnaise on everything. And if I had grown up here, I’m sure I would staunchly defend these practices as normal and logical. But an unscientific survey at my nearby Starbucks revealed that the locals agree with me on this assessment: the coin situation here is completely out of control. When it comes to currency units, the Bank of England has got it all wrong.
Great Britain is a numismatist’s paradise. There are eight coins in active circulation: 6 in denominations less than one pound, and two in denominations of a pound or more. Just like the U.S. penny, nickel, and dime, Brits have one pence, five pence, and ten pence coins. And similar to our quarter, they also have a 20 pence piece.
However, where things start to get excessive is in the addition of a two pence coin. This is just silly. Considering that two pence buys you roughly nothing in England, why does this denomination merit its own currency unit?
Then there’s the 50 pence coin. When is the last time you saw a half dollar in the States? Can you even remember? Probably not. There is a very good reason the U.S. Mint cut production of this relic: lack of demand. There is even talk about removing it from U.S. circulation altogether. Not in England though. Here, the 50P coin is still in heavy rotation.
Then there’s the 50 pence coin. When is the last time you saw a half dollar in the States? Can you even remember? Probably not. There is a very good reason the U.S. Mint cut production of this relic: lack of demand. There is even talk about removing it from U.S. circulation altogether. Not in England though. Here, the 50P coin is still in heavy rotation.
But what I really take issue with is the lack of a one-pound bill. That’s right—there are no singles here. I can only imagine how that impacts the Exotic Dancing industry. Somehow I can’t see guys sticking change down a stripper’s…but I digress.
Having to use one-pound and two-pound coins instead of paper money makes your wallet very heavy, very quickly. Let’s say you want to buy something that costs £1.30, which coincidentally is the cost of the Wall Street Journal here. If all you have is a £5 note, you will receive no fewer than 5 coins in change, and quite possibly more than that if the vendor is out of £2 pieces. And that’s just one purchase! As Huw The Native Welshman put it, “After a night of drinking with your mates, your pockets weigh 20 kilos!”
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