No more commemoratives?

An article in the 28 July edition of The (Glasgow) Herald stated that
the days of Scottish commemorative notes may be numbered. :-(

The Treasury is arguing that the variety of different notes in
circulation in Scotland makes it easier for counterfeiters to pass fake
notes.

This argument is strange as the much smaller variety of notes
circulating in England seems not to have had any effect on the
manufacture of fake BoE notes.

There are loads more fake BoE notes in circulation than Scottish ones
even allowing for the total number of genuine notes issued in each
country.

A few retailers that I know have had fake Scottish notes passed to them
but very poor copies are good enough to be spent and copying
commemorative notes would draw more attention by the public, the
commemorative notes usually have additional overprints that give more
security than non commemoratives and give the counterfeiters more work
to do.

As the public pay very little close attention to notes in circulation
limiting the design types would have very little effect on the making of
fake notes.

The decision deadline is September 16. Billy

"note.boy" wrote in message
...
An article in the 28 July edition of The (Glasgow) Herald stated that
the days of Scottish commemorative notes may be numbered. :-(

I differ with you a bit in opinion on the commemoratives, I think they have
the effect to dilute collecting interests and only fatten the profits of the
banks that issue them.

I think the commemoratives that are issued should be significant enough to
warrant a commem. I thought the 100th birthday of HRHTQM was significant
enough, as was the 300th anniversary of BOS. But some such as the
Commonwealth Heads of Government meeting and the golf issues are not
significant enough, and only serve to affect profit for the bank from many
non collectors of notes, the Jack Nicklaus notes being a prime example.

I feel that commemorative notes adversely affect the hobby.

I have seen this sort of behavior before. In the mid-1970s, I used to
collect beer cans (yup, empties). It was a fun hobby, but then it became
very popular. So much so that many brewers began issuing new brands and can
designs just to appeal to the collector market.

Needless to say, they flooded the market with their special releases, and it
became impossible to collect them all. Like many collectors, I simply gave
up in disgust.

I sincerely hope the same fate is not in store for banknote collectors. We
would do well to avoid the commemorative notes and stick instead to true
issued notes only.


On 8/3/05 3:23 PM, in article , "Scottishmoney"
wrote:


"note.boy" wrote in message
...
An article in the 28 July edition of The (Glasgow) Herald stated that
the days of Scottish commemorative notes may be numbered. :-(

I differ with you a bit in opinion on the commemoratives, I think they have
the effect to dilute collecting interests and only fatten the profits of the
banks that issue them.

I think the commemoratives that are issued should be significant enough to
warrant a commem. I thought the 100th birthday of HRHTQM was significant
enough, as was the 300th anniversary of BOS. But some such as the
Commonwealth Heads of Government meeting and the golf issues are not
significant enough, and only serve to affect profit for the bank from many
non collectors of notes, the Jack Nicklaus notes being a prime example.

I would agree than there can be a danger in issuing too many commemoratives
whether they be notes, stamps or beer cans etc. but as the notes can be had for
face value, if you live in Scotland, it's not as if the banks are profiteering
from them.

The number issued of each Royal Bank commemorative has been 2 million of each so
far.

As "all" collectors stash away each commemorative it may be that the non
commemoratives from the same time period will be worth more in the future as not
so many were put away.

I like the commemorative notes as they add a bit of variety and as they can be had
for face value the £1 and £5 are a cheap addition to a collection. Billy


Owen Linzmayer wrote:

I feel that commemorative notes adversely affect the hobby.

I have seen this sort of behavior before. In the mid-1970s, I used to
collect beer cans (yup, empties). It was a fun hobby, but then it became
very popular. So much so that many brewers began issuing new brands and can
designs just to appeal to the collector market.

Needless to say, they flooded the market with their special releases, and it
became impossible to collect them all. Like many collectors, I simply gave
up in disgust.

I sincerely hope the same fate is not in store for banknote collectors. We
would do well to avoid the commemorative notes and stick instead to true
issued notes only.

On 8/3/05 3:23 PM, in article , "Scottishmoney"
wrote:


"note.boy" wrote in message
...
An article in the 28 July edition of The (Glasgow) Herald stated that
the days of Scottish commemorative notes may be numbered. :-(

I differ with you a bit in opinion on the commemoratives, I think they have
the effect to dilute collecting interests and only fatten the profits of the
banks that issue them.

I think the commemoratives that are issued should be significant enough to
warrant a commem. I thought the 100th birthday of HRHTQM was significant
enough, as was the 300th anniversary of BOS. But some such as the
Commonwealth Heads of Government meeting and the golf issues are not
significant enough, and only serve to affect profit for the bank from many
non collectors of notes, the Jack Nicklaus notes being a prime example.

"note.boy" wrote in message
...
I would agree than there can be a danger in issuing too many commemoratives
whether they be notes, stamps or beer cans etc. but as the notes can be
had for
face value, if you live in Scotland, it's not as if the banks are
profiteering
from them.


Actually when a note is taken out of circulation with little or no
probability of it being redeemed by the bank, the bank effectively makes a
£1, £5 or £20 profit. It is a grey area on the balance sheet, and one I am
sure they don't show or care to divulge.

Scottishmoney wrote:

"note.boy" wrote in message
...
I would agree than there can be a danger in issuing too many commemoratives
whether they be notes, stamps or beer cans etc. but as the notes can be
had for
face value, if you live in Scotland, it's not as if the banks are
profiteering
from them.


Actually when a note is taken out of circulation with little or no
probability of it being redeemed by the bank, the bank effectively makes a
£1, £5 or £20 profit. It is a grey area on the balance sheet, and one I am
sure they don't show or care to divulge.

I thought that until recently but I was told that for every £1 in papermoney
issued they must deposit £1 with the bank Of England so the unredeemed notes are
not pure profit. Billy

"note.boy" wrote in message
...
Scottishmoney wrote:

"note.boy" wrote in message
...
I would agree than there can be a danger in issuing too many
commemoratives
whether they be notes, stamps or beer cans etc. but as the notes can be
had for
face value, if you live in Scotland, it's not as if the banks are
profiteering
from them.


Actually when a note is taken out of circulation with little or no
probability of it being redeemed by the bank, the bank effectively makes
a
£1, £5 or £20 profit. It is a grey area on the balance sheet, and one I
am
sure they don't show or care to divulge.

I thought that until recently but I was told that for every £1 in
papermoney
issued they must deposit £1 with the bank Of England so the unredeemed
notes are
not pure profit. Billy



The cost of printing the notes is not cheap, coupled with the one for one
backing in BoE notes. But then the goodwill part of it, the fact that the
banks name is in just about everyones pocket as a reminder that they
exists - PRICELESS. Best bang for the advertising quid you can get.

BTW RBS doesn't have the note issue in the USA, but they have quite a
marketing presence here, particularly on CNN.com and on television.

Scots are takin o'er the banking sector, pretty soon we may see Lord Ilay on
the $1 bill.