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nib95

Contains No Misinformation on Philly Cheesesteaks
Banned
Oct 28, 2017
18,498
I understand it's for security, but I can't stand these new polymer notes. Once they crease or fold, they're just such a pain to get back in shape or correctly folded again. Previous folds basically don't disappear.

I also actually use £50 notes as my main cash note currency, as I can carry more cash without taking up too much space in my money clip. Plus I tend to prefer paying for meals etc in cash (using the change as tip), as waiters etc are more likely to keep tips if given in cash.
 

mingo

Member
Oct 25, 2017
815
London
Worked in a bank in UK, people always asked for 50s especially when going abroad. You get better exchange rates with larger less worn notes in certain countries.
 

Tokyo_Funk

Banned
Dec 10, 2018
10,053
It looks really great, but far far too late to be honouring such a brilliant man, especially one that was shunned by his own country for being gay. The man deserved much more for what he did and much more respect than he got.
 

CDX

Member
Oct 25, 2017
3,476
Great choice for his contributions to mathematics, computers, and the allies efforts in WW2.

His suicide is so sad. How his government and law punished him, and also how they treated others at the time, for being gay was shameful. And it wasn't only the UK that had those views towards homosexuals at the time.
 

HotAndTender

Member
Dec 6, 2017
856
I was working in a pub about 10 years ago and seen my first £50 note, it's quite shocking how big it was compared to other notes. I hope they keep the sizing
 

Dr. Mario

Member
Oct 27, 2017
13,885
Netherlands
Cool, way overdue, but better right before the move to a cashless society than never I guess.

Why does the queen still look forty though? Is she that conscious about aging?

As an American, someone please explain this. We use 50's and 100's all the time. I just had to pay a contractor with 100's.

Do people in the UK simply not use cash as much?
You had to pay a contractor in 100 dollar bills? That right there is probably the reason why they make it difficult to pay large sums in cash, because it's used for tax evasion ;).

Also, no tipping means no reason to have cash on hand at all times.
 
Oct 27, 2017
6,302
Looks cool.

That quote though, "This is only a foretaste of what is to come, and only the shadow of what is going to be", feels a bit terrifying in the current context of the UK..
 

gerg

Member
Oct 25, 2017
2,346
As an American, someone please explain this. We use 50's and 100's all the time. I just had to pay a contractor with 100's.

Do people in the UK simply not use cash as much?

As others have said, cash payments are on the decline here in the UK. According to some research I Googled just now, owing to chip-and-pin and contactless payments credit and debit cards made up over half of all payments in the UK in 2019; cash payments declined 15% year-on-year and I imagine the pandemic has only increased that decline as well.

Personally, the last time I withdrew cash on any regular basis was exclusively to pay my counselor, and eventually I switched to bank transfers for that as well.

Edit: Beaten oh so badly!

Meanwhile in Switzerland 1k notes.

Also what a wasted oppurtunity. They put the queen on this. So all those notes will have to be replaced when she dies.

I don't think it's that weird to have the current head of state on your currency.

Also, when the queen dies it's not like all the old currency will become unusable!
 

Culex

Banned
Oct 29, 2017
6,844
Cool, way overdue, but better right before the move to a cashless society than never I guess.

Why does the queen still look forty though? Is she that conscious about aging?


You had to pay a contractor in 100 dollar bills? That right there is probably the reason why they make it difficult to pay large sums in cash, because it's used for tax evasion ;).

Also, no tipping means no reason to have cash on hand at all times.
Oh I know the game, which is why I don't/can't finance contractors. One of my army buds is a contractor and lives in a 700k house, but his 1040 shows he only makes 50k a year....yea....
 
Jun 24, 2019
6,374
It looks really great, but far far too late to be honouring such a brilliant man, especially one that was shunned by his own country for being gay. The man deserved much more for what he did and much more respect than he got.

Oh definitely far too late. A statue of him should also be made in his honor rather than the idolization of shitty slave owners and colonial war criminals.
 

Piston

Member
Oct 25, 2017
11,170
As an American, someone please explain this. We use 50's and 100's all the time. I just had to pay a contractor with 100's.

Do people in the UK simply not use cash as much?
I don't know if I've ever seen a $100 bill in my 28 years on this planet. I've seen a $50 bill maybe once. Most ATMs give cash out in $20 denominations and only let you withdraw like $400 total at once.
 

PJV3

Member
Oct 25, 2017
25,676
London
I was working in a pub about 10 years ago and seen my first £50 note, it's quite shocking how big it was compared to other notes. I hope they keep the sizing

I always a bit bemused by pictures of the old huge white £5 note, but they are worth around £150 in todays money so probably rarer than our £50 is.
 

I_love_potatoes

Attempted to circumvent ban with alt account
Banned
Jul 6, 2020
1,640
As an American, someone please explain this. We use 50's and 100's all the time. I just had to pay a contractor with 100's.

Do people in the UK simply not use cash as much?

I'll use myself as an example. I've used contactless for over 10 years already. I rarely see people use cash in London these days unless it's something at the corner shop. Even a taxi, I use contactless.

When I went to America a few years ago, I was so shocked to see some places I went to did not have contactless payment. Felt really strange having to use cash again. Lol
 

Mukrab

Member
Apr 19, 2020
7,516
As others have said, cash payments are on the decline here in the UK. According to some research I Googled just now, owing to chip-and-pin and contactless payments credit and debit cards made up over half of all payments in the UK in 2019; cash payments declined 15% year-on-year and I imagine the pandemic has only increased that decline as well.

Personally, the last time I withdrew cash on any regular basis was exclusively to pay my counselor, and eventually I switched to bank transfers for that as well.

Edit: Beaten oh so badly!



I don't think it's that weird to have the current head of state on your currency.

Also, when the queen dies it's not like all the old currency will become unusable!
It is weird when you have a rule thaz says it has to always be the current head of state. You're right tho, the money will not become unusable. They're just gonna spend billions of tax payer money to replace it as soon as possible.
 

nekkid

Banned
Oct 27, 2017
21,823
I'll use myself as an example. I've used contactless for over 10 years already. I rarely see people use cash in London these days unless it's something at the corner shop. Even a taxi, I use contactless.

When I went to America a few years ago, I was so shocked to see some places I went to did not have contactless payment. Felt really strange having to use cash again. Lol
Yeah it always surprises me when I visit the US. By the time Chip and PIN was a regular thing we'd already moved to contactless primarily.
 

lunarworks

Member
Oct 25, 2017
22,176
Toronto
Also what a wasted oppurtunity. They put the queen on this. So all those notes will have to be replaced when she dies.
I have no doubt they've got banknotes with Chuck already designed and ready to go at short notice.

Anyway, the old notes will circulate for years. When I was a kid in the '80s, here in Canada, coins with George VI occasionally showed up in my change.
 

gerg

Member
Oct 25, 2017
2,346
It is weird when you have a rule thaz says it has to always be the current head of state. You're right tho, the money will not become unusable. They're just gonna spend billions of tax payer money to replace it as soon as possible.

I don't think that's true at all. Various sources seem to suggest that the notes will remain in circulation until individual notes gradually get removed from circulation (due to deterioration), or when they as a whole stop being legal tender (as happens with notes anyway as and when new editions are introduced). People online seem to recall coins featuring Queen Victoria circulating well up until the UK currency was decimilised in the 1970s (and even then certain pre-decimilisation coins still apparently persisted). I will hope you appreciate though that I am too young to recall that personally, and as we have only had the one monarch for the past 70 years this issue has yet to reoccur.
 
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StarStorm

Avenger
Oct 25, 2017
7,601
Also learned that £50 is the highest banknote in the UK.

I see 50's and 100's all the time in the US. I don't see what's the big deal.
 

lint2015

Member
Oct 27, 2017
2,811
When it says "I promise to pay the bearer on demand the sum of fifty pounds," who is making that promise? The Queen?
 

Uzzy

Gabe’s little helper
Member
Oct 25, 2017
27,222
Hull, UK
Looks good!

Oh definitely far too late. A statue of him should also be made in his honor rather than the idolization of shitty slave owners and colonial war criminals.

There's at least two already, one in Manchester and one at Bletchley Park. Certainly no objection to more given what he accomplished.

Alan_Turing%27s_statue_surrounded_by_flowers_on_his_birthday_2018.jpg
Alan_Turing_by_Stephen_Kettle_2007.jpg
 

Uzzy

Gabe’s little helper
Member
Oct 25, 2017
27,222
Hull, UK
When it says "I promise to pay the bearer on demand the sum of fifty pounds," who is making that promise? The Queen?

Bank of England. From their FAQ:

The words 'I promise to pay the bearer on demand the sum of five/ten/twenty/fifty pounds' appear on all of our notes. This phrase dates from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold of the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns.

However, the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. You can no longer exchange banknotes for gold. You can only exchange them for other Bank of England banknotes of the same face value.
 

skeptem

Member
Oct 25, 2017
5,749
I don't know if I've ever seen a $100 bill in my 28 years on this planet. I've seen a $50 bill maybe once. Most ATMs give cash out in $20 denominations and only let you withdraw like $400 total at once.
I've only had to have large sums of cash on hand when I am paying a handyman for some project, and he wants cash to do it. I think the last time I needed 3K in cash and I got it in $100's.

I remember seeing a $500 bill once, and a $1000 bill at a collectors shop.
 

lint2015

Member
Oct 27, 2017
2,811
Bank of England. From their FAQ:

The words 'I promise to pay the bearer on demand the sum of five/ten/twenty/fifty pounds' appear on all of our notes. This phrase dates from long ago when our notes represented deposits of gold. At that time, a member of the public could exchange one of our banknotes for gold of the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns.

However, the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. You can no longer exchange banknotes for gold. You can only exchange them for other Bank of England banknotes of the same face value.
LOL ok. I understand the history behind it, but weird that it's printed next to the Queen and uses "I" instead of "The Bank of England."
 

Mukrab

Member
Apr 19, 2020
7,516
I don't think that's true at all. Various sources seem to suggest that the notes will remain in circulation until individual notes gradually get removed from circulation (due to deterioration), or when they as a whole stop being legal tender (as happens with notes anyway as and when new editions are introduced). People online seem to recall coins featuring Queen Victoria circulating well up until the UK currency was decimilised in the 1970s (and even then certain pre-decimilisation coins still apparently persisted). I will hope you appreciate though that I am too young to recall that personally, and as we have only had the one monarch for the past 70 years this issue has yet to reoccur.
Im sure they'll keep circulating. They're not gonna go in your house to replace them, or to stores. But gradually they will. And new money is gonna be printed or already has for when she dies, and then you repeat this with every king or queen that dies. Its a complete waste of ressources.
 

Mukrab

Member
Apr 19, 2020
7,516
I have no doubt they've got banknotes with Chuck already designed and ready to go at short notice.

Anyway, the old notes will circulate for years. When I was a kid in the '80s, here in Canada, coins with George VI occasionally showed up in my change.
So what you are saying is that they already spent that tax money? Because of someone who could very well never become king making it a total waste of tax money?
 

gerg

Member
Oct 25, 2017
2,346
Im sure they'll keep circulating. They're not gonna go in your house to replace them, or to stores. But gradually they will. And new money is gonna be printed or already has for when she dies, and then you repeat this with every king or queen that dies. Its a complete waste of ressources.

Erm...all our notes are reprinted anyway. That's why this new £50 note exists - because the old notes will cease to be legal tender (after a grace period has expired), and the new note will replace it.

My point is that when Queen Elizabeth II dies, notes (and coins) with the new monarch will be gradually introduced as part of this process. There's no additional wastage beyond the general process with which notes and coinage is changed anyway. Are you arguing that notes should not be updated at all?

That's why, for example, there are no coins with Edward VIII's portrait on them, because there was no time and/or need to introduce these as he abdicated so soon after his coronation.

You seem to be suggesting that billions of pounds worth of notes are being stored for as and when the queen dies, which is simply not the case.

So what you are saying is that they already spent that tax money? Because of someone who could very well never become king making it a total waste of tax money?

He's probably had a series of royal portraits produced, but I imagine that the cost of that is relatively small.

Edit: Apparently I was slightly wrong, and the Edward VIII's abdication did incur an amount of wastage:

The Royal Mint said:
The mint was in an advanced state of readiness – reducing machines had begun the process of miniaturising the designs ready for coins and medals. The abdication put paid to these plans and no coins of Edward VIII were ever issued in the United Kingdom.

But no, not even in that instance were countless coins molded and then melted down!
 
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PJV3

Member
Oct 25, 2017
25,676
London
So what you are saying is that they already spent that tax money? Because of someone who could very well never become king making it a total waste of tax money?

It's a continual process anyway, though i'm not sure how the polymer notes change it. I'd rather have a picture of a cup of tea and an Eccles cake than the monarch anyway.
 

Mukrab

Member
Apr 19, 2020
7,516
It's a continual process anyway, though i'm not sure how the polymer notes change it. I'd rather have a picture of a cup of tea and an Eccles cake than the monarch anyway.
Exactly. The bigger issue here is not even replacing the money. Its having monarchs on the money in the first place. Or having monarchs in the first place in the 21st century.
 

JonnyDBrit

God and Anime
Member
Oct 25, 2017
11,029
50s are very popular with overseas travellers visiting sites like the one where I work, in so much that they obviously pick up a lot of money at once and it's easiest for their banks to give them fewer individual notes.

Wonder if the current situation will have them extend the window where the old notes are accepted as legal tender - they say there will be at least six months' notice, but I notice how they've avoided stating an actual date yet. Could easily see people having Boulton and Watt on hand but that didn't have the chance to use 'em, because of the pandemic
 

gerg

Member
Oct 25, 2017
2,346
Exactly. The bigger issue here is not even replacing the money. Its having monarchs on the money in the first place. Or having monarchs in the first place in the 21st century.

That's an entirely different issue, though.

I agree that having a monarch is pretty ridiculous in the 21st century. But I don't really see how the cost of representing the monarch on a bank note is significant when bank notes change on a rolling basis anyway - someone will have had to adapt the portrait used to represent Alan Turing, after all.