Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the value is of notes and coins in pounds sterling in circulation in the (a) UK and (b) rest of the world.

The issue of banknotes is the responsibility of the Bank of England. The Bank of England calculates that the aggregate value of its notes in circulation is £71bn.

Furthermore, the aggregate value of banknotes in circulation issued by the Scottish and Northern Irish commercial banks authorised to do so is £7bn.

The Royal Mint calculates the total face value of coins in circulation is £4.7bn.

It is not possible for the Bank of England or the Royal Mint to calculate what value of notes and coins are freely circulating and what is being held as a store of value.

The Bank of England and the Royal Mint do not hold information on the value of notes and coins held outside the UK.