Wales so closed in 1908; since then, although banks in Scotland and Northern Ireland continue to have the right to issue banknotes in their own countries, the Bank of England has a monopoly on the issue of banknotes in Wales. The Commercial Bank of Wales, established in Cardiff by Sir Julian Hodge in 1971, was taken over by the Bank of Scotland in 1988 and absorbed into its parent company in 2002. The Royal Mint, who issue the coinage circulated through the whole of the UK, have been based at a single site in Llantrisant since 1980. Since decimalisation, in 1971,
Royal Mint series begun being minted annually in celebration of Lunar New Year and in 2016 a series featuring The Queen's Beasts began. On occasion, the mint produces medals for government departments and under private contract for clients such as Royal societies, colleges and universities. Most notably the mint has made OBE medals as well as many military honours including the Defence Medal and the Conspicuous Gallantry Cross for the British Armed Forces. For the 2012 Summer Olympics the mint won a contract to produce 4,700 gold, silver and bronze medals for competitors. Prior to 1851, the making of medals at the