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#1
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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. |
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#2
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"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 --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.537 / Virus Database: 332 - Release Date: 11/6/03 |
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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. |
#4
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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. |
#5
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"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/ |
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"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/ |
#7
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"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 --- Outgoing mail is certified Virus Free. Checked by AVG anti-virus system (http://www.grisoft.com). Version: 6.0.537 / Virus Database: 332 - Release Date: 11/6/03 |
#8
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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. |
#9
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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. |
#10
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"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. |
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