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Brits would like grubby looking 5 pound notes replaced by a coin
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#2
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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
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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 |
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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 |
#5
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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/ |
#6
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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 ----== Posted via Newsfeeds.Com - Unlimited-Unrestricted-Secure Usenet News==---- http://www.newsfeeds.com The #1 Newsgroup Service in the World! 120,000+ Newsgroups ----= East and West-Coast Server Farms - Total Privacy via Encryption =---- |
#7
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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 |
#8
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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/ |
#9
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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
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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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