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The Bank of England One Pound note was replaced by a One Pound coin first issued in 1983.

Low denomination paper banknotes have a relatively short life span of 4 to 10 years in circulation, coins have a life expectancy of 40 to 50 years.

The place in the currency previously occupied by the One Pound banknote was taken by the equivalent value coin, so the relatively expensive to produce and easily damaged banknote was progressively withdrawn from circulation from 1985 and demonetised in 1988.

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