1 pound note
-
I don't think it's the cost. Banknotes are relatively cheap to produce (smaller nominal values can have less fancy protection). I think it's more likely due to the inflation. Less valuable coins became more useless and they needed something to throw into parking and vending machines. Actually, I have no clue and I think I have never pound in my hands ever, but it's a fun thread.
Can imagine the shear volume of coins that must collect from it.
Jeremy Falcon
-
The one pound note was cheaper to produce than the pound coin but it didn't stand up to wear and tear as well. The coin has much greater staying power and was also considered to be harder to fake. The coin was also popular with vending machine manufacturers.
This space for rent
It makes you wonder then why stop at £1 notes then and why not just go to coins. You'd think the larger denominations are the ones you'd want to stand the test of time rather than the £1 ones. Just out of curiosity how many of them coins you got floating around in your pocket on any given day? They weigh your pants down?
Jeremy Falcon
-
Jersey has one, and there may still be a Scottish one, but England hasn't had one for a couple of decades, now. They're too expensive. Pound coins cost only a little more to make, but last a thousand times longer.
I wanna be a eunuchs developer! Pass me a bread knife!
Gotcha, good to know this stuff. Thanks.
Jeremy Falcon
-
5 is the smallest euro note too. it's because we didnt need to keep them in supply for tucking into stripper's underwear like what the Americans did.
Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them.
:laugh: :laugh: :laugh: Does make me wonder what you guys do at a strip club. Do you just flat out chunk the coins at them?
Jeremy Falcon
-
:laugh: :laugh: :laugh: Does make me wonder what you guys do at a strip club. Do you just flat out chunk the coins at them?
Jeremy Falcon
-
It makes you wonder then why stop at £1 notes then and why not just go to coins. You'd think the larger denominations are the ones you'd want to stand the test of time rather than the £1 ones. Just out of curiosity how many of them coins you got floating around in your pocket on any given day? They weigh your pants down?
Jeremy Falcon
I tend to have notes.
This space for rent
-
It's all about the ccontactless payment, you just need to know where to press the card. Can be unfortunate if you get one that still needs swiping.
Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them.
Just don't think about where the receipt is printed out.
This space for rent
-
It's all about the ccontactless payment, you just need to know where to press the card. Can be unfortunate if you get one that still needs swiping.
Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them.
What happens if you want to shower a dancer with a bunch of ones though? I mean, what happened to that time honored tradition?
Jeremy Falcon
-
I tend to have notes.
This space for rent
I guess I could see it. Just odd considering there's always been one notes from my neck of the woods.
Jeremy Falcon
-
What happens if you want to shower a dancer with a bunch of ones though? I mean, what happened to that time honored tradition?
Jeremy Falcon
She's going to get concussion.
This space for rent
-
She's going to get concussion.
This space for rent
Good times. :-D
Jeremy Falcon
-
I still have the last one pound note that I owned. No idea why I kept it. I also have some groats, farthings, threepenny bits, sixpences, florins, half-crowns, crowns, guineas, ten-bob notes and various other old currency.
-
I still have the last one pound note that I owned. No idea why I kept it. I also have some groats, farthings, threepenny bits, sixpences, florins, half-crowns, crowns, guineas, ten-bob notes and various other old currency.
I, too, have my last £1 note and various other pre-decimalisation coins (I managed to collect 52 different years of the penny as I lived near an amusement arcade during the change-over years (1967-1971)). I haven't any groats or guineas, but do have farthings, ha'p'nies, thre'p'ny bits (silver and polygonal), sixpences, shillings, florins, half crowns, crowns and 10s notes. (The crowns are the only things of any value).
-
I just found this out, but I'm rather curious to know from a more official source - which would be the UK brethren up in this joint. But, is it true there's no 1 pound paper note? Or a 100 pound one for that matter? I checked the Bank of England's website to make sure, I don't see any mention of them. Just rather surprised there isn't one, and would like to know for certain.
Jeremy Falcon
They still exist in Scotland, but the only people that use them are beggars as they can hide them in their socks.
-
I don't think it's the cost. Banknotes are relatively cheap to produce (smaller nominal values can have less fancy protection). I think it's more likely due to the inflation. Less valuable coins became more useless and they needed something to throw into parking and vending machines. Actually, I have no clue and I think I have never pound in my hands ever, but it's a fun thread.
Coins last much longer though. Fishing around for some reference numbers: A US 1 dollar bill costs 6 cents to make and lasts about 21 months[^]. That's about the same as the metal cost for the old pound coint[^]. The minting process will add to that total, but unless it adds a lot a coin that lasts for a few decades will still be cheaper overall than a stack of bills that die last mayflies.
Did you ever see history portrayed as an old man with a wise brow and pulseless heart, waging all things in the balance of reason? Is not rather the genius of history like an eternal, imploring maiden, full of fire, with a burning heart and flaming soul, humanly warm and humanly beautiful? --Zachris Topelius Training a telescope on one’s own belly button will only reveal lint. You like that? You go right on staring at it. I prefer looking at galaxies. -- Sarah Hoyt
-
Out of curiosity... why were they taken out?
Jeremy Falcon
The only reason the same didn't happen in the US was that the Susan B Anthony dollar coin was a flop (too easy to mistake for a quarter); and then vending machine makers figured out how to make a cheap scanner that could tell real bills from mass market grade counterfeits before the hangover from the former debacle made another serious attempt politically viable. Once they had a bill slot available they stopped agitating for a dollar coin; and since they were the main advocate in the US at the time...
Did you ever see history portrayed as an old man with a wise brow and pulseless heart, waging all things in the balance of reason? Is not rather the genius of history like an eternal, imploring maiden, full of fire, with a burning heart and flaming soul, humanly warm and humanly beautiful? --Zachris Topelius Training a telescope on one’s own belly button will only reveal lint. You like that? You go right on staring at it. I prefer looking at galaxies. -- Sarah Hoyt
-
It makes you wonder then why stop at £1 notes then and why not just go to coins. You'd think the larger denominations are the ones you'd want to stand the test of time rather than the £1 ones. Just out of curiosity how many of them coins you got floating around in your pocket on any given day? They weigh your pants down?
Jeremy Falcon
With bills it's the opposite actually. Due to the higher profits in counterfeiting you want faster turnover in high value currency so old designs can be removed from circulation before too many good enough fakes are produced. That's also one of the factors behind the demise of large denomination bills like the £100 note. The other is that large denomination bills are also used for transferring criminal profits around without leaving paper trails. Anti-money laundering groups have been advocating the retirement of all $100 class bills for years because of that. Other than for Grandma and Grandpa wanting to make a large cash gift in a single bill I've only ever seen $50/100 bills used when selling largish amounts of scrap metal. The latter was ~20 years ago; with various attempts to stop copper theft/etc I've seen over the years since I'm not sure if they can still operate as cash businesses or not.
Did you ever see history portrayed as an old man with a wise brow and pulseless heart, waging all things in the balance of reason? Is not rather the genius of history like an eternal, imploring maiden, full of fire, with a burning heart and flaming soul, humanly warm and humanly beautiful? --Zachris Topelius Training a telescope on one’s own belly button will only reveal lint. You like that? You go right on staring at it. I prefer looking at galaxies. -- Sarah Hoyt
-
Ah, real money that actually had some value. I remember going out for an evening with only a ten shilling note and a few coins in my pocket. Never had anything left for the bus home though.
When I were a lad, a bunch of us went up to West End to go to a "disco". Long story short, we came out of there penniless, in the middle of the night and had to walk home. Took several hours as I recall. Ah, those were the days! :-)
-
They still exist in Scotland, but the only people that use them are beggars as they can hide them in their socks.
But would they still be accepted as legal tender still, or are they just used as sock padding now?
Jeremy Falcon
-
The only reason the same didn't happen in the US was that the Susan B Anthony dollar coin was a flop (too easy to mistake for a quarter); and then vending machine makers figured out how to make a cheap scanner that could tell real bills from mass market grade counterfeits before the hangover from the former debacle made another serious attempt politically viable. Once they had a bill slot available they stopped agitating for a dollar coin; and since they were the main advocate in the US at the time...
Did you ever see history portrayed as an old man with a wise brow and pulseless heart, waging all things in the balance of reason? Is not rather the genius of history like an eternal, imploring maiden, full of fire, with a burning heart and flaming soul, humanly warm and humanly beautiful? --Zachris Topelius Training a telescope on one’s own belly button will only reveal lint. You like that? You go right on staring at it. I prefer looking at galaxies. -- Sarah Hoyt
That actually makes a lot of sense. So I'm starting to wonder if the 1 notes will ever make a comeback in the future... I mean before we drop paper altogether.
Jeremy Falcon