The Value of a Pound?
 

I recently opened up the cash till to examine its contents and brought
to mind a question about its contents. [I figured that an interesting
way to collect British L/s/d currency would be to put some in an old
British L/s/d cash till.]

I have in front of me pound and 10/- notes from various places around
the world: England, Scotland, Ireland, Gibraltar, Malta, West Africa,
Palestine, New Zealand and Australia (I'm sure there are others, I
just don't have any to hand). Mostly they are from Imperial or early
Commonwealth times.

The question is this: what was the relationship between all those
pounds? Were they all equal to the pound sterling or were there
different valuations? (Obviously, the Scottish pounds are.) Were they
at all interchangeable? - could an English pound be spent anywhere or
could a West African pound be readily exhanged if not spent in
England?

Also, does anyone know why British tills were designed not to fit
British currency? Mine clearly has two slots for notes, but only the
newer (1960s and later) pound notes fit nicely. It is an older
machine, built in 1939, but even the older green and blue quids only
fit if they're folded in half. 10/- notes fit nicely; could it have
been intended to only accept them? Or could this particular machine
have been made for some other market? Probably not, as none of the
other notes fit well either!

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

"Padraic Brown" wrote in message
...
I recently opened up the cash till to examine its contents and brought
to mind a question about its contents. [I figured that an interesting
way to collect British L/s/d currency would be to put some in an old
British L/s/d cash till.]

I have in front of me pound and 10/- notes from various places around
the world: England, Scotland, Ireland, Gibraltar, Malta, West Africa,
Palestine, New Zealand and Australia (I'm sure there are others, I
just don't have any to hand). Mostly they are from Imperial or early
Commonwealth times.

The question is this: what was the relationship between all those
pounds? Were they all equal to the pound sterling or were there
different valuations? (Obviously, the Scottish pounds are.) Were they
at all interchangeable? - could an English pound be spent anywhere or
could a West African pound be readily exhanged if not spent in
England?

Also, does anyone know why British tills were designed not to fit
British currency? Mine clearly has two slots for notes, but only the
newer (1960s and later) pound notes fit nicely. It is an older
machine, built in 1939, but even the older green and blue quids only
fit if they're folded in half. 10/- notes fit nicely; could it have
been intended to only accept them? Or could this particular machine
have been made for some other market? Probably not, as none of the
other notes fit well either!

Padraic.


Interesting question. For the most part the Pound was a pound everywhere,
however the exceptions were in Australia and New Zealand where variations
caused them to create their own coinages. Aussie coinage retained sterling
silver until ca. 1942. NZ coinage was .500 fine. Gibraltar, Falklands, St.
Helena etc pound notes are 1:1 with British Pounds. Malta, Cypriot,
Palestinian(later Israeli) £ notes started varying with independence in
those countries. I know the Maltese £ became the Lira, and retained more of
it's value in relation to sterling, however the Cypriot £ has lost some. In
countries in East and West Africa, the currencies became local currencies
and rapidly lost their values ie the Nigerian Pound, and the Shilling
denominated currencies in East Africa.

Ireland tied it's pound to sterling until 1978, when after concerns about
the British Pounds variations caused the Central Bank of Ireland to break
the tie. For a very short period, the Irish £ was worth more than sterling,
however since that time sterling was worth more than the Irish £. You can
read a rather lengthy narrative on this on the Central Bank of Ireland's
website, I found the whole discussion rather interesting as you could gain
some insight on how currencies are valued.

BTW Scottish Pounds are valued the same as BoE pounds, however some exchange
places in continental Europe will attempt to devalue them by 1-2% in
relation to BoE notes if you don't protest. Northern Irish £ notes are in
the same boat, there are four banks currently issuing notes in NI.

Dave


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On Sat, 15 Nov 2003 06:39:41 -0500, "Scottishmoney"
wrote:

Interesting question.

Thanks for the response!

For the most part the Pound was a pound everywhere,

That's what I figured, but wasn't sure.

however the exceptions were in Australia and New Zealand where variations
caused them to create their own coinages. Aussie coinage retained sterling
silver until ca. 1942. NZ coinage was .500 fine.

Did the variation exist before this time? I.e., when all three (incl.
Britain) still had sterling silver.

Gibraltar, Falklands, St.
Helena etc pound notes are 1:1 with British Pounds.

Presumably, Jersey, Guernsey and IoM are in that same boat as well.

Malta, Cypriot,
Palestinian(later Israeli) £ notes started varying with independence in
those countries. I know the Maltese £ became the Lira, and retained more of
it's value in relation to sterling, however the Cypriot £ has lost some.

Yeah. The Maltese pound is $US2.74, while sterling is about $1.60 or
so.

Ireland tied it's pound to sterling until 1978, when after concerns about
the British Pounds variations caused the Central Bank of Ireland to break
the tie. For a very short period, the Irish £ was worth more than sterling,
however since that time sterling was worth more than the Irish £. You can
read a rather lengthy narrative on this on the Central Bank of Ireland's
website, I found the whole discussion rather interesting as you could gain
some insight on how currencies are valued.

I'll look into that.

BTW Scottish Pounds are valued the same as BoE pounds, however some exchange
places in continental Europe will attempt to devalue them by 1-2% in
relation to BoE notes if you don't protest.

That's crap! ;)

Northern Irish £ notes are in
the same boat, there are four banks currently issuing notes in NI.

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

The Egyptian pound was an exception. Until 1948, and perhaps a little
later, it was worth one pond and six pence. Don't ask me why.

Tony

"Padraic Brown" wrote in message
...
On Sat, 15 Nov 2003 06:39:41 -0500, "Scottishmoney"
wrote:

Interesting question.

Thanks for the response!

For the most part the Pound was a pound everywhere,

That's what I figured, but wasn't sure.

however the exceptions were in Australia and New Zealand where variations
caused them to create their own coinages. Aussie coinage retained
sterling
silver until ca. 1942. NZ coinage was .500 fine.

Did the variation exist before this time? I.e., when all three (incl.
Britain) still had sterling silver.

Gibraltar, Falklands, St.
Helena etc pound notes are 1:1 with British Pounds.

Presumably, Jersey, Guernsey and IoM are in that same boat as well.

Malta, Cypriot,
Palestinian(later Israeli) £ notes started varying with independence in
those countries. I know the Maltese £ became the Lira, and retained more
of
it's value in relation to sterling, however the Cypriot £ has lost some.

Yeah. The Maltese pound is $US2.74, while sterling is about $1.60 or
so.

Ireland tied it's pound to sterling until 1978, when after concerns about
the British Pounds variations caused the Central Bank of Ireland to break
the tie. For a very short period, the Irish £ was worth more than
sterling,
however since that time sterling was worth more than the Irish £. You
can
read a rather lengthy narrative on this on the Central Bank of Ireland's
website, I found the whole discussion rather interesting as you could
gain
some insight on how currencies are valued.

I'll look into that.

BTW Scottish Pounds are valued the same as BoE pounds, however some
exchange
places in continental Europe will attempt to devalue them by 1-2% in
relation to BoE notes if you don't protest.

That's crap! ;)

Northern Irish £ notes are in
the same boat, there are four banks currently issuing notes in NI.

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

"Scottishmoney" schrieb im Newsbeitrag
...
silver until ca. 1942. NZ coinage was .500 fine. Gibraltar, Falklands,
St.
Helena etc pound notes are 1:1 with British Pounds. Malta, Cypriot,

According to http://www.oanda.com/convert/classic, the Falkland Pound is
currently at 1.39 Pounds Sterling, the Gibraltar Pound, at 0.95, and the St.
Helena Pound, at 0.85.

Jan
--
This day I call heaven and earth as witnesses against you that
I have set before you life and death, blessings and curses.
Now choose life, so that you and your children may live.
http://www.i-k.info/ http://www.vic-fontaine.com/

"Jan Krohn" wrote in message
...
"Scottishmoney" schrieb im Newsbeitrag
...
silver until ca. 1942. NZ coinage was .500 fine. Gibraltar, Falklands,
St.
Helena etc pound notes are 1:1 with British Pounds. Malta, Cypriot,

According to http://www.oanda.com/convert/classic, the Falkland Pound is
currently at 1.39 Pounds Sterling, the Gibraltar Pound, at 0.95, and the St.
Helena Pound, at 0.85.

Jan
--
This day I call heaven and earth as witnesses against you that
I have set before you life and death, blessings and curses.
Now choose life, so that you and your children may live.
http://www.i-k.info/ http://www.vic-fontaine.com/



Falkand pound is same as UK pound

http://www.xe.com/ucc/full.shtml



--
michael @ www.worldwidecoins.co.uk
main site www.numismatic.biz
World Banknotes & Coins
eBay Id worldwidecoins
http://members.ebay.co.uk/aboutme/worldwidecoins/

"michael @ worldwidecoins" wrote in message
Gibraltar, Falklands,
St.
Helena etc pound notes are 1:1 with British Pounds. Malta, Cypriot,

According to http://www.oanda.com/convert/classic, the Falkland Pound is
currently at 1.39 Pounds Sterling, the Gibraltar Pound, at 0.95, and the
St.
Helena Pound, at 0.85.

Jan
Falkand pound is same as UK pound

http://www.xe.com/ucc/full.shtml


Same with the Gib, St. Helena Pound notes. They are par with the sterling.
What some exchange place offers them for may vary depending on their needs.
Frankly I do not think there is much demand for St. Helena Pound notes in
commerce, so some exchange places may discount them, though not because they
are really worth less than sterling but because they are drawer queens.

Dave


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Outgoing mail is certified Virus Free.
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On Sat, 15 Nov 2003 21:17:55 -0000, "michael @ worldwidecoins"
wrote:

"Jan Krohn" wrote:

Helena etc pound notes are 1:1 with British Pounds. Malta, Cypriot,

According to http://www.oanda.com/convert/classic, the Falkland Pound is
currently at 1.39 Pounds Sterling, the Gibraltar Pound, at 0.95, and the St.
Helena Pound, at 0.85.

Falkand pound is same as UK pound

http://www.xe.com/ucc/full.shtml

xe.com shows all of them to be identical. When I was in Gibraltar a
few years ago, British currency ciruclated there as well as
Gibraltarian and Spanish pesetas. No conversion necessary for British
coin.

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

On Sat, 15 Nov 2003 17:03:20 -0500, "Scottishmoney"
wrote:

Same with the Gib, St. Helena Pound notes. They are par with the sterling.
What some exchange place offers them for may vary depending on their needs.
Frankly I do not think there is much demand for St. Helena Pound notes in
commerce, so some exchange places may discount them, though not because they
are really worth less than sterling but because they are drawer queens.

Now, I wouldn't mind buying some St. Helena or Gibraltarian pounds for
less than face!

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.

"Padraic Brown" wrote in message
...
On Sat, 15 Nov 2003 06:39:41 -0500, "Scottishmoney"
wrote:

Interesting question.

Thanks for the response!

For the most part the Pound was a pound everywhere,

That's what I figured, but wasn't sure.

however the exceptions were in Australia and New Zealand where variations
caused them to create their own coinages. Aussie coinage retained
sterling
silver until ca. 1942.
It was 1945 to be precise it was going to happen in 1921 when the price of
silver boomed however the boom was short lived and prices eased.the 1921
Aussie shilling has a star above the date to signify the debasement that
didn't happen.Even the silver coinage minted in San Francisco & Denver was
to the Sterling standard .925.

Bill
NZ coinage was .500 fine.

Did the variation exist before this time? I.e., when all three (incl.
Britain) still had sterling silver.

Gibraltar, Falklands, St.
Helena etc pound notes are 1:1 with British Pounds.

Presumably, Jersey, Guernsey and IoM are in that same boat as well.

Malta, Cypriot,
Palestinian(later Israeli) £ notes started varying with independence in
those countries. I know the Maltese £ became the Lira, and retained more
of
it's value in relation to sterling, however the Cypriot £ has lost some.

Yeah. The Maltese pound is $US2.74, while sterling is about $1.60 or
so.

Ireland tied it's pound to sterling until 1978, when after concerns about
the British Pounds variations caused the Central Bank of Ireland to break
the tie. For a very short period, the Irish £ was worth more than
sterling,
however since that time sterling was worth more than the Irish £. You
can
read a rather lengthy narrative on this on the Central Bank of Ireland's
website, I found the whole discussion rather interesting as you could
gain
some insight on how currencies are valued.

I'll look into that.

BTW Scottish Pounds are valued the same as BoE pounds, however some
exchange
places in continental Europe will attempt to devalue them by 1-2% in
relation to BoE notes if you don't protest.

That's crap! ;)

Northern Irish £ notes are in
the same boat, there are four banks currently issuing notes in NI.

Padraic.

la cieurgeourea provoer mal trasfu
ast meiyoer ke 'l andrext ben trasfu.