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 plant for striking. This first phase of the mint was officially opened on 17 December 1968 by the royal attendance of Queen Elizabeth II, Prince Philip and their son Prince Charles. Originally there were fears that the Royal family would face protests because of the Investiture of Prince Charles as the Prince of Wales; however, such protests failed to materialise. The second phase of construction began in 1973 and included the addition of a means to mint coins from virgin metals completing the full minting process. Upon completion the final cost for the land, buildings and plant came to £8