The currency used in the United Kingdom is the pound sterling (£), often abbreviated to GBP. There are 100 pence, or pennies, to the pound. The pound is the worlds oldest currency that is still in use and has been in continuous use since its inception. Banknotes in circulation include £5, £10, £20, £50, and £100, while coins include 1p, 2p, 5p, 10p, 20p, 50p, £1, and £2. The currency sign for the pound unit of sterling is £, which may be drawn with one or two bars. The Bank of England has exclusively used the single bar variant since 1975. Historically, a simple capital L placed before the numerals, or an italic l after them, was used in newspapers, books, and letters. The Royal Mint was still using this style of notation as late as 1939.