Grotty fivers...

  Quickbeam 10:32 08 Jul 07
Locked

Are we ready to dump the grotty, low value, five pound note?

I've just cashed up for today, and it must be a record for the number of scrumpled up to the size of a postage stamp fivers... I'm ready for the £5 coin.

Out of interest, does anyone know if the fiver's buying value, is anywhere near the buying value of the pound note when that was dumped?

  WhiteTruckMan 10:37 08 Jul 07

is the difficulty in actually getting them into circulation. Apparently there is supposed to be a warehouse full of them somewhere brand new. Because ATM's do not supply them the only way is through banks, and there are simply not enough people asking for them, for whatever reason. I might add that they are freely available at banks for the asking. Well, assuming you have enough money to begin with.

WTM

  Cymro. 10:48 08 Jul 07

Why not plastic banknotes? I believe they are already in use in some countries.

  crosstrainer 11:18 08 Jul 07

Yes, kind of flexible laminate..keeps them fresher longer.

  Cymro. 11:26 08 Jul 07

Or what about that stuff they make condoms out of, that should be very hard wearing.

  Stuartli 11:27 08 Jul 07

To follow up WhiteTruckMan's accurate observation, this was one of the stories last month about the problem:

click here

You may have noticed that there has been no difficulty in circulating the new £20 notes, which can be done readily through the ATM system.

  realist 11:34 08 Jul 07

The reason for the "fiver shortage" is that there is a greater cost attaching to them when they are issued by Banks via ATM's.

So the Banks (bless 'em) aren't ordering fivers so as to save themselves the odd bob or two.

That's why there's that warehouse full of new ones somewhere.

  User-1159794 11:42 08 Jul 07

Any idea where realist?

  TopCat® 12:00 08 Jul 07

Here's info on the Australian 'plastic' money. Will last for ages as it doesn't crumple or shrink and it's nigh impossible to tear. I don't suppose that it's inflation proof as well. That would be something! TC.

click here

  Quickbeam 12:14 08 Jul 07

The plastic note is one way, but the problem with the fiver is the decreasing value, = contemptible treatment.

A five pound coin, will have an almost forever lifespan.

  Why wont it work 12:15 08 Jul 07

The banks at Uni of B'ham all give out £5 notes. It's quite useful really, never seen it anywhere else. I expect it's because we're all supposedly poor so giving out smaller notes is more useful!

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