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<p>[QUOTE=&quot;De Orc, post: 805856, member: 4408&quot;]Sorry but quite a bit of it is wrong </p><p><br /></p><p>It is refferd to as a English pound (or pound stirling) simply because that is what it is, Scotland still producess it&#039;s own banknotes as does Ulster</p><p>The three notes you refer to are not legal tender within the UK only notes produced by the Bank of England hold that status they are though exchangable on par with the pound stirling</p><p><br /></p><p>English banknotes are Legal tender in England &amp; Wales but not in Scotland since the demise of the English £1 ( Currency and Bank Notes Act 1954 defined Bank of England notes of less than £5 in value as legal tender in Scotland)</p><p>Scottish banknotes are not even legal tender in Scotland but are a accepted form of payment the same goes for the Ulster pound, they are simply promisory notes or if you prefer status is of &quot;legal currency&quot; (that is to say that their issue is approved by the parliament of the UK) and they are backed up by Bank of England securities </p><p><br /></p><p>Notes from </p><p>Guernsey</p><p>Isle of Man</p><p>Jersey</p><p>Are basicly known as local issues and again are not Legal tender within the UK</p><p><br /></p><p>Many people within England itself do not realise that it is ok to take Scottish notes etc in payment as the banks will take them at face, I have even heard of a currency exchange outlet trying to say Scottish ££ were worth less than Stirling!![/QUOTE]</p><p><br /></p>

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