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 modern production methods, it is unlikely that coins would not conform, although this has been a problem in the past as it would have been tempting for the Master of the Mint to steal precious metals. The term "Pyx" refers to the boxwood chest (in Greek, πυξίς, "pyxis") in which coins were placed for presentation to the jury. There is also a Pyx Chapel (or Pyx Chamber) in Westminster Abbey, which was once used for secure storage of the Pyx and related articles. Coins to be tested are drawn from the regular production of The Royal Mint. The Deputy Master