Good news and bad news

[ffutures]

The good news is that while I was going through a load of old credit card receipts, statements, etc. and shredding them I found a ten pound note.

The bad news is that it's the ten pound note that was withdrawn from circulation in 2003... Not sure if the bank will still take them, we shall see. If not, I think it has to go to the Bank of England or something.

Comments

[ponderoid.livejournal.com]

When your gov't withdraws a note or coin from circulation, do they actually repudiate its face value, or do they merely stop printing/minting/issuing them? The latter is how it works in the U.S. If I find a $1000 note, which they stopped printing in 1946, it's still legal tender. Although its value to collectors might be significantly more than face value, of course.

*** Ponder

[were-gopher.livejournal.com]

I think the high street banks and merchants will reject it after a certain length of time but it will still be redemed for face value by the Bank of England.

[ffutures.livejournal.com]

The Bank of England is still redeeming notes from the 18th century

http://www.independent.co.uk/news/uk/this-britain/pound40000-georgian-banknote-found-in-desk-698794.html

What I don't know is if a local bank will take it, or if I have to send it to the Bank of England.

[dsample.livejournal.com]

I don't know about the UK, but I recently got a 20 dollar bill out of an ATM in a design that hadn't been in circulation for 30 years, and my reaction to it was "Wow, haven't seen one of these in a while." I spent it a couple of days later, and the cashier went "Wow, haven't seen one of these before." (since it was last printed before she was born) but she took it.

I once got a dollar bill in my change about 10 years after Canada replaced the dollar bill with a dollar coin, and had much the same experience with it. (I was in a tourist trap in Alberta at the time, and the cashier who gave it to said she'd gotten it from an American tourist who said that he'd been carrying it around in his wallet for 10 years, since the last time he was in Canada, and was wondering if it was still good.)

[w00hoo.livejournal.com]

I was working near the Bank of England recently and took the opportunity to pop in with an out of date £50 and £20 that we had found in an old piggy bank. It took around 10 minutes to fill out the forms and get some crisp £20's and a £10 in return and was quite fun to actually walk in and use it as a bank (there is a dressed up doorman and everything). I'm glad I didn't just post it to them.

If you email them they will send you the forms to fill in by return mail, but they are different to the forms you fill in if you go in person so having them completed doesn't actually help very much (although the cashier just copied the information to the correct forms so I guess it gave me more gawping time.)