Currency in America and England are fairly similar in some senses.  But read on to better understand how they differ!

Translating currency in America and England is fairly simple to understand.  As a quick rule of thumb (not taking into consideration the actual conversion rates), ten pounds is ten dollars, twenty pounds, twenty dollars, a pence is a penny, and so on.  Of course there is always the currency conversion rates to consider, however there is always a simple online search that will get you that information!  (In today’s market, one American dollar is equivalent to 80 English pence.)

What I’d like to talk about in this post is the differences of the actual bills and coins in America and England.

In England, the four most used denominations of banknotes in circulation are the £5, £10, £20 and £50 notes.

All four denominations of notes are printed on polymer.  The polymer notes replaced the paper notes and the newer style incorporates many security features not available in paper banknotes, including the use of metameric inks. Polymer banknotes last much longer than paper notes.  These new notes assist in a decrease in environmental impact and a reduced cost of production and replacement.  However, these polymer notes (kind of feels like a thin plastic), are difficult to fold.  They “spring” back open, and if you put them in your pocket, be careful!  They always seem to pop out and you could find yourself short of cash!

The bill denominations in America are pretty much the same as in England, $5, $10, $20 and $5o bills.

However, in America, the $1 bill is still in high circulation as well!  America did try a $2 bill several years ago but it did not take off and is rarely, if ever, seen now.  And unfortunately, even if you do have one of these rare $2 bills, it is worth exactly that: $2!

But the $100 bill is still widely used by Americans, whereas England ceased using the £100 note in 2022.  The logic was that large transactions are usually done electronically, by debit or credit cards or wire transfer rather than cash. The bills in America are still made out of paper, and are more easily folded, unlike the plastic type notes used in England.  However, these paper bills do wear, fade and rip over time.  If you have a damaged paper bill, as long as you have both pieces of the bill with the serial numbers in tact, you can bring it to any bank for a replacement.

What about the large denominations?

America and England currency similarities can be seen in larger bill denominations as well!

The United States no longer issues bills in larger denominations, such as $500, $1,000, $5,000, and $10,000 bills. But you can still use them as legal tender if you happen to chance upon one.  Some of these larger denominations bills, depending on certain characteristics, can be worth much more as a collection item than their face value!

In England, £500 notes are very rare, and in fact only available from three Bank of England branches – London, Liverpool and Leeds.  Recently, there was an extremely rare note from the Bank of England branch in Leeds, which was dated 1936, and was sold at auction for £24,000 pounds!  And the £1000 note was withdrawn from circulation in 1945.

Coin differences are where it gets tricky for me!

In America we have pennies, nickels, dimes, and quarters. Half dollar and $1 coins are still currently produced as collectibles by the U.S. mint. However, if you do have one of these half or dollar coins,  you can still use them as legal tender.  But most folks hang onto to these rare coins hoping they’ll be worth more!  Of course, in today’s world, the pennies, nickels, and dimes aren’t really worth much in the current economy.  Having a bunch if these coins jingling around in your pocket is more of a nuisance.  Most folks throw their coins in a jar and redeem them in bulk once it is worth doing so.

In England, they have the similar denominations in coins.  One pence (penny), 5 pence (nickel), 10 pence (dime) and 25 pence (quarter).  However, England still has 50 pence coins!  They also have one pound and two pound coins rather than one pound (dollar) notes!  So, unlike in America where we tend to save up our coins in a jar, in England you could have a pocket full of one and 2 pound coins!  These coins are pretty hefty!  Upon relocation to England, my lovely sister-in-law gave me a small change purse.  At first I didn’t realize the necessity of having some place to store my coins!  Now, two years on, I realize that a coin purse is an absolute must-have!  I keep my one and two pound coins in my coin purse and use them for parking meters, tips, etc.!

One last thing to consider is what happens in England with their currency when there is an ascension of a new King!

The Bank of England released the design for new banknotes featuring Charles III in December.   The plans are to circulate these new banknotes  starting in 2024.   As for the Royal Mint, every coin it creates from January 2023 onward will bear Charles’ image, starting with 9.6 million 50-pence coins.  Some experts estimate it could cost about 350 million pounds  ($402 million) to change the banknotes and coins to have King Charles’ portrait and will take several years!  You can use the current banknotes featuring the portrait of the Queen as they will continue to be legal tender.  These notes will eventually be removed from circulation by the Bank of England once they become worn or damaged.

In America, George Washington (the 1st American president) has been on the one dollar bill since 1869!  And Abraham Lincoln (16th president) has been on the five dollar bill since 1861!!  The $10 bill features Alexander Hamilton, who served as the first U.S. Secretary of the Treasury, since 1929 and Andrew Jackson’s (7th U.S. president) picture has been on the $20 bill since 1928.   Except for security enhancements, it is very rare that the images on American currency get changed or updated!!

Overall, America and England currency similarities outweigh the differences, but it’s always helpful to be in the know!

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