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-   -   Brits would like grubby looking 5 pound notes replaced by a coin (http://www.collectingbanter.com/showthread.php?t=214172)

[email protected] May 10th 07 11:44 AM

Brits would like grubby looking 5 pound notes replaced by a coin
 
http://www.express.co.uk/posts/view/6595


Roger Hunt May 10th 07 03:49 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
wrote
http://www.express.co.uk/posts/view/6595

This Brit doesn't. This Brit would like the banks to occasionally pull
their finger out, pull the tatty stuff from circulation and release some
new notes.
--
Roger Hunt

A.E. Gelat May 10th 07 07:14 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
It used to be that paper money turned in to a bank would be destroyed, thus
keeping the money almost always fresh.

Tony

wrote in message
oups.com...
http://www.express.co.uk/posts/view/6595



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Jeremy Rogers May 11th 07 10:51 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
The message
from Roger Hunt contains these words:

wrote
http://www.express.co.uk/posts/view/6595

This Brit doesn't. This Brit would like the banks to occasionally pull
their finger out, pull the tatty stuff from circulation and release some
new notes.


The Bank of England stats tell the story.

Over the most recent 7 years where figures are available, the value of
five pound notes in circulation has been remarkably constant at just
over £1000M.

Up until 2004 the number of notes issued was around 200-250M, in line
with the stated average lifetime of 10-12 months.

However last year only 62M were issued, and 97M destroyed. The Bank
holds a large stock of new notes, more or less the same as the number in
circulation.

Jez

Roger Hunt May 12th 07 04:09 AM

Brits would like grubby looking 5 pound notes replaced by a coin
 
Jeremy Rogers wrote
The message
from Roger Hunt contains these words:

wrote
http://www.express.co.uk/posts/view/6595

This Brit doesn't. This Brit would like the banks to occasionally pull
their finger out, pull the tatty stuff from circulation and release some
new notes.


The Bank of England stats tell the story.

Over the most recent 7 years where figures are available, the value of
five pound notes in circulation has been remarkably constant at just
over £1000M.

Up until 2004 the number of notes issued was around 200-250M, in line
with the stated average lifetime of 10-12 months.

However last year only 62M were issued, and 97M destroyed. The Bank
holds a large stock of new notes, more or less the same as the number in
circulation.

Most interesting and explanatory. It makes sense - thanks.
--
Roger Hunt

Duke[_2_] May 15th 07 01:39 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
On Thu, 10 May 2007 13:14:48 -0500, "A.E. Gelat"
wrote:

It used to be that paper money turned in to a bank would be destroyed, thus
keeping the money almost always fresh.


Or they could run it through the laundry then reissue it - like they
used to in the US once. ('Money laundering' in the literal sense?)

Duke

Dik T. Winter May 17th 07 02:17 AM

Brits would like grubby looking 5 pound notes replaced by a coin
 
In article "A.E. Gelat" writes:
It used to be that paper money turned in to a bank would be destroyed, thus
keeping the money almost always fresh.


indeed. And it has proven to be too expensive.
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

Dik T. Winter May 17th 07 02:22 AM

Brits would like grubby looking 5 pound notes replaced by a coin
 
In article Jeremy Rogers writes:
The message
from Roger Hunt contains these words:
wrote
http://www.express.co.uk/posts/view/6595

This Brit doesn't. This Brit would like the banks to occasionally pull
their finger out, pull the tatty stuff from circulation and release some
new notes.


The Bank of England stats tell the story.

Over the most recent 7 years where figures are available, the value of
five pound notes in circulation has been remarkably constant at just
over £1000M.

Up until 2004 the number of notes issued was around 200-250M, in line
with the stated average lifetime of 10-12 months.


I still remember being in the UK when all banks had a large display that
told the customers that the bank would not alway issue new notes because
of production cost, and so there was a shortage. (This was before the
time of the one pound coins...)
--
dik t. winter, cwi, kruislaan 413, 1098 sj amsterdam, nederland, +31205924131
home: bovenover 215, 1025 jn amsterdam, nederland; http://www.cwi.nl/~dik/

Tony Clayton May 17th 07 10:57 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
In a recent message "Dik T. Winter" wrote:

In article "A.E. Gelat" writes:
It used to be that paper money turned in to a bank would be destroyed, thus
keeping the money almost always fresh.


indeed. And it has proven to be too expensive.


The real problem is that cashpoints do not issue 5-pound notes, so new ones
do not get issued so readily. There is a perceived shortage of these notes,
and so they probably do not get paid in to banks as often as the 10 and 20's
do, thus continuing in circulation scrumpled into the pocket or purse!


--
Tony Clayton
Coins of the UK :
http://www.coins-of-the-uk.co.uk
Sent using RISCOS on an Acorn Strong Arm RiscPC
.... There is intelligent life on Earth, but I'm just visiting

Jeremy Rogers May 18th 07 08:17 PM

Brits would like grubby looking 5 pound notes replaced by a coin
 
The message
from Tony Clayton contains these words:

The real problem is that cashpoints do not issue 5-pound notes, so new ones
do not get issued so readily. There is a perceived shortage of these notes,
and so they probably do not get paid in to banks as often as the 10 and 20's
do, thus continuing in circulation scrumpled into the pocket or purse!


5-pound notes haven't been generally issued by ATMs for years, but the
current situation has only developed in the last 2-3. The Bank of
England attributes it to the reluctance / failure of commercial banks to
draw down on its stocks.

As an experiment I withdrew £100 in 5-pound notes in my local bank
today. After getting a bit of a funny look at this odd request they
rummaged around in three tills to put this amount together.

Examining them only five are in a clean and flat condition. The others
form a sticky dirty pile of crumpled paper. Three are ripped. Nine
(including the one in best condition) were Lowthers, showing how old
they are.

Jez
--


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