- How much does a tenner cost?
according to the bank of england – only a few pence each. The print set up costs if/when they change note designs are pretty significant, but the sheer size of the print run cancels that out.
Back when there was that big raid in Northern Ireland where millions were stolen, one of the factors that lead to it being returned was with such a significant sum stolen (the cash stolen was the NI design of note) the notes can simply be withdrawn and replaced with a new design, – easy for the general public to deal with as people rarely have more than a wallet full of notes to exchange for new, but impractical with large sums, leaving the robbers with millions in what would suddenly become toy money – meanwhile the sum that had been lost could can then magically re-appear in the bank as new notes. So the thieves would have stolen nothing and the bank would have lost nothing.Posted 4 years agofootflapsSubscriber
I was wondering because if the notes are destroyed by one of those explosive dye box things that the cash in transit people use the notes would be useless but would (I assume) still need to be replaced
I quite often get dye stained ones from cashpoints, shops etc. Normally just dye around one edge, say no more than 1cm in.Posted 4 years agomikewsmithSubscriber
breadcrumb – Member
How would you get change from 99p?
2 pence bits are a bit pointless though.Posted 4 years ago
We manage here in Australia, your shopping gets added up and then rounded to the nearest 5cp (up or down) for cash on the exact amount for card transactions. Quite simple and heaps less shrapnel to carry round.meehajaMember
on the subject of interesting money facts… it used to be m job to sort usable notes from “dirty” bundles. picking out dyed notes that could be recirculated, burnt notes, water damage and bloodied notes. Minging job!
There was a large batch of fake £1 coins that as metal values soared were worth more than the scrap value of a £1 coin (though not the cash value)
I used to be able to reel off the weights of different values in different notes but not anymore.Posted 4 years agoSpeederSubscriber
Are 1p and 2p pieces worth the hassle any more? The Dutch have a similar system to the Aus system MWS describes and it works really well without any of the faf of having virtually worthless coppers in you pocket. Having said that I’m not sure I’d want the hateful 5p to be our lowest form of currency and a “penny” is something it’d be hard to lose.Posted 4 years agoclubberMember
konabunny – Member
When the KLF burned a million quid, they were able to get a million pounds back from BoE after paying some sort of printing fee (abut fifty grand maybe?).
Is that confirmed – there were a lot of stories about that and whether they actually burned it at all.Posted 4 years agothisisnotaspoonMember
I drop copper coins in the collection box by the till – if there is one. I guess man folks do. So surely the charity sector would take a hit if we got rid of the one and two p coins?
Not hard to implement a system of rounding up 5p or 10p, then the till records the difference as a charity donation?Posted 4 years agonumber18Member
meehaja – Member
99p prices exist so cashiers have to give change, making sure that sales get run through the till, cutting down theft by staff and creating better account keeping/ receipt giving.
Maybe that is one reason why they continue to do it. But I think the reason these prices came to be was as a psychological pricing method. Price something at £99 rather than £100 and many people would be more inclined to buy it as it just seems like more than £1 saving. Likewise £8.99 versus £9.00.Posted 4 years agocrankboyMember
konabunny re KLF my sophisticated google skill suggests it was the one million they damaged in “nailed to the wall” that got replaced, the million they burnt either ended up in ash or picked up off the beach by locals on Jura . (or paid back into the bank as 1.3 million )Posted 4 years ago
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