Should the Bank of England replace the £5 note with a £5 coin?

Question

This matter has been brought up in political realms for a few years now. The argument is that Britons don't take care of their £5 notes and they wear out very quickly, costing the Bank a lot of taxpayer's moneyt to have them replaced. Switching to a £5 coin will supposedly save of money in teh future.

Your thoughts?

Answer 1

Yes I'm sure this will happen in the not to distant future, when I'm out shopping or socialising there never seems to be any fivers about and always end up with a pocket full of £1 coins,so for me its a good idea.

Answer 2

I do like the five pound note as opposed to coins due to the weight problem when you get change. But these days the five pound note seems to be a rarity as ATM's dont stock them. Pubs and shops rarely have them either so you end up with lots of one or two pound coins in change to jangle about! So maybe the 5 pound coin would be worth considering if it means less shrapnel in ya pocket!

Answer 3

Bank of England may save money by going over to £5 coin, but will not do my pockets any good, already have to get repaired on a regular bases due to the wear and tear caused by coins

Answer 4

I think inflation will eventually make it a necessity.
There are already some collector's £5 coins comemmorating the Queen's 80th birthday, Trafalgar day and other events, so I think that should give you a clue that the £5 coin is on it's way.

Answer 5

There aren't many £5 notes in circulation. The notes that come my way are often damaged. Depends on the size of the coin they want to introduce. I quite like the £2 coin although it took time to get used to.

Answer 6

income the united kingdom is stated as pounds Sterling, it incredibly is often abbreviated to GBP (large British pounds). this is been in use considering that 1306, yet we at present decimalised it. the logo for pound is £ and the logo for a penny is a p. in reality, there's one hundred pence in a pound. money are issued in 1p, 2p, 5p, 10p, 20p, 50p, £a million and £2. Notes are £5, £10, £20 and £50. they're colloquially wide-unfold as quid, as in "ought to I borrow 4 quid?", and notes are often abbreviated to a fiver or a tenner watching the fee. this is printed extensively speaking via the financial corporation of england, regardless of the actuality that the financial corporation of Scotland additionally produces banknotes. they're actually a similar distant places money with a diverse layout.

Answer 7

Yeh and bring back pound notes. Infact lets swap all coins to notes and all notes to coins for a few years. See how that pans out


I have a 2pnote and £50 coin.

Answer 8

No they shouldn't - they will make holes in my husbands pockets!! Why should a £5 note wear out any quicker than a £10 note? That is nonsense - I think it is because there are not many £5 notes in circulation - and they are all quite old!

Answer 9

Changing bills to coins is a good proposal since it means lower costs to the government for use to other beneficial projects. However, since the Britons are already used to 5 pound bills, the change is not being entertained by many.

Answer 10

With a diameter of 38.61mm and weighing 28.28g, the £5 coin is too big and heavy to carry around in our pockets. Won't work, unless the Royal Mint comes out with another lighter version of it.