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#198069 - 03/15/10 05:29 PM Uk 20 note to be withdrawn
Brangdon Offline
Veteran

Registered: 12/12/04
Posts: 1204
Loc: Nottingham, UK
After 30 June 2010, the older 20 note with a picture of Elgar will no longer be legal tender. More details here.

This may be of significance to British readers who keep a cache of paper money on hand for emergencies. This is a wise precaution. Many urban problems can be solved with money, and sometimes cash is king. The 20 notes probably won't suddenly become worthless, but by the nature of things, emergency money is kept out of the way and rarely thought about. If you do nothing about this now, when an emergency happens in a few years you may be taken by surprise.

If you increased the size of your cache a year or two ago because there seemed to be a real possibility of a "banking holiday" then, you might want to re-assess how much you store now that the financial system seems relatively stable again (or not - you judge).

Don't forget your money belt, cash kept in the car, the bug-out bag etc. I was surprised how many old 20s I had.
_________________________
Quality is addictive.

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#198079 - 03/15/10 07:18 PM Re: Uk 20 note to be withdrawn [Re: Brangdon]
LED Offline
Veteran

Registered: 09/01/05
Posts: 1474
Thanks for the info. Good reminder to keep your preps current. Although I would think the 20 pound note a bit high for an emergency kit. Rarely do people have correct change during a crisis, so smaller notes are probably the way to go.

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#198085 - 03/15/10 08:24 PM Re: Uk 20 note to be withdrawn [Re: LED]
ILBob Offline
Old Hand

Registered: 02/05/10
Posts: 776
Loc: Northern IL
I wonder why they feel the need to do this.

Perhaps just a crackdown on the cash side of the economy.

My theory for a BOB is $10 worth of quarters (one roll) and $20 in ones. They may be useful for vending machines, or pay phones (if you can even find a payphone these days).

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Warning - I am not an expert on anything having to do with this forum, but that won't stop me from saying what I think. smile

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#198088 - 03/15/10 09:35 PM Re: Uk 20 note to be withdrawn [Re: ILBob]
dougwalkabout Offline
Crazy Canuck
Carpal Tunnel

Registered: 02/03/07
Posts: 2921
Loc: Alberta, Canada
Pure speculation, but sometimes older bills are dropped because of counterfeiting problems.

My two pence.

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#198291 - 03/18/10 05:27 AM Re: Uk 20 note to be withdrawn [Re: dougwalkabout]
Art_in_FL Offline
Pooh-Bah

Registered: 09/01/07
Posts: 2432
As a service to all those inconvenienced by this development I will be taking these obsolete twenty pound notes and trading them for certificates in the Florida Art Capital Depreciation Fund.

The process is simple. Bundle up all your obsolete twenty pound notes, place them into a envelope with a SASE to receive your capital depreciation fund certificates and in six to eight weeks, or just as soon as I get around to it, I will send you your certificates.

For a limited time offer, and at no additional charge, I will personally sign your certificate. So avoid the rush and send them in now.

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#198340 - 03/18/10 07:55 PM Re: Uk 20 note to be withdrawn [Re: Art_in_FL]
Susan Offline
Geezer

Registered: 01/21/04
Posts: 5163
Loc: W. WA
Art's version of CONfederate money???

Sue

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#198343 - 03/18/10 08:28 PM Re: Uk 20 note to be withdrawn [Re: Art_in_FL]
LED Offline
Veteran

Registered: 09/01/05
Posts: 1474
Originally Posted By: Art_in_FL

For a limited time offer, and at no additional charge, I will personally sign your certificate. So avoid the rush and send them in now.


What about a commemorative dinner plate?

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#198347 - 03/18/10 09:29 PM Re: Uk 20 note to be withdrawn [Re: LED]
James_Van_Artsdalen Offline
Addict

Registered: 09/13/07
Posts: 449
Loc: Texas
Originally Posted By: LED

Although I would think the 20 pound note a bit high for an emergency kit. Rarely do people have correct change during a crisis, so smaller notes are probably the way to go.

"Change" may not matter much in a crisis.

A couple of times I've had "cost is no object" personal disasters and have found $20 bills in quantity quite effective at motivating service people to break rules, do unusual tasks or work off-hours. Expensive, but effective for situations where results are far more important than costs.

And cash usually works even when your bank account is SNAFU'd by the bank - you can still buy groceries, shop, live, etc, while the bureaucracy gradually straightens things out. You aren't going to take the family out to dinner with a baggie full of quarters, but $20 bills is perfectly reasonable.

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#198396 - 03/19/10 03:07 AM Re: Uk 20 note to be withdrawn [Re: LED]
Art_in_FL Offline
Pooh-Bah

Registered: 09/01/07
Posts: 2432
Originally Posted By: LED

What about a commemorative dinner plate?


For a nominal fee, plus S&H, I would be happy to issue commemorative plates. I think whiteware plates were going for $.50 a pop at the Salvation Army store.

So ... lets say $10 a pop and $10 shipping and handling, or one of those obsolete 20 pound notes, I would gladly ship you one of these rare, collectible, plates. Be the first on your block to have a set.

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#198521 - 03/20/10 04:09 PM Re: Uk 20 note to be withdrawn [Re: LED]
Brangdon Offline
Veteran

Registered: 12/12/04
Posts: 1204
Loc: Nottingham, UK
Originally Posted By: LED
Although I would think the 20 pound note a bit high for an emergency kit. Rarely do people have correct change during a crisis, so smaller notes are probably the way to go.
In the UK 20 is what the ATM machines dispense, so they are very common, and most vendors will accept them. They can probably give 5 or 10 in change. To put it in perspective, we don't have a 1 note at all. (50 notes are very rare, and much harder to spend, but can be useful to get a lot of money into a small, personal cache.)

20 is a reasonable amount if you want to pay for, eg a taxi home from town, or some petrol, or a meal for two. It's not really enough to pay for overnight accommodation, nor for a long train journey. 60-100 is a more practical if you might get marooned somewhere other than your home town.

And some people keep emergency cash at home, too. You might need need to pay for urgent repairs to your roof.
_________________________
Quality is addictive.

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