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Brits would like grubby looking 5 pound notes replaced by a coin



 
 
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  #1  
Old May 10th 07, 11:44 AM posted to rec.collecting.coins,rec.collecting.paper-money
[email protected]
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Posts: 4
Default Brits would like grubby looking 5 pound notes replaced by a coin

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

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  #2  
Old May 10th 07, 03:49 PM posted to rec.collecting.coins,rec.collecting.paper-money
Roger Hunt
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Posts: 195
Default 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
  #3  
Old May 10th 07, 07:14 PM posted to rec.collecting.coins,rec.collecting.paper-money
A.E. Gelat
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Posts: 242
Default 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
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http://www.express.co.uk/posts/view/6595



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  #4  
Old May 11th 07, 10:51 PM posted to rec.collecting.paper-money
Jeremy Rogers
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Posts: 7
Default 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
  #5  
Old May 12th 07, 04:09 AM posted to rec.collecting.paper-money
Roger Hunt
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Posts: 195
Default 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
  #6  
Old May 15th 07, 01:39 PM posted to rec.collecting.coins,rec.collecting.paper-money
Duke[_2_]
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Posts: 2
Default 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
  #7  
Old May 17th 07, 02:17 AM posted to rec.collecting.coins,rec.collecting.paper-money
Dik T. Winter
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Posts: 299
Default 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/
  #8  
Old May 17th 07, 02:22 AM posted to rec.collecting.paper-money
Dik T. Winter
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Posts: 299
Default 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/
  #9  
Old May 17th 07, 10:57 PM posted to rec.collecting.coins,rec.collecting.paper-money
Tony Clayton
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Posts: 153
Default 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
  #10  
Old May 18th 07, 08:17 PM posted to rec.collecting.paper-money
Jeremy Rogers
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Posts: 7
Default 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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