Paying with plastic takes on a new meaning

  oresome 09:58 13 Sep 2016
Locked

with the introduction of the new £5 note today.

I'm having to empty the mattress of the old notes whilst they're still legal tender.

  oresome 13:14 14 Sep 2016

I wonder if they will roll up for use by drug users?

It would be nice if they didn't as most existing notes are contaminated.

  Aitchbee 14:21 14 Sep 2016

Easily laundered too ... a 20C wash.

  Fruit Bat /\0/\ 17:28 14 Sep 2016

Got til May to spend your old ones be fore the other May taxes them off you :0)

  Bazzaman 17:47 14 Sep 2016

In the USA they tried $1 coins. But, seemingly, the public overwhelmingly rejected them - so much so that the US Mint ceased production in 2011. That's why when you go to the US you end up with pockets full of grubby $1 bills.

I can't see £5 coins taking off here until the real value (i.e. purchasing power) is massively less than now. And that could be an awful long way off given where inflation is. Plus, you never know - we might be in the Euro by then ;-)

Another observation on the US. As far as I know, old style $ bills never go out of circulation (unlike here where even the old paper notes were revamped periodically and the old style ones withdrawn).

  bumpkin 20:24 14 Sep 2016

* FE *

Thanks for the explanation, I know I have seen and even used them, I would think that they have all been stashed away by collectors whilst probably of little future value. I still have a mint roll of Churchill Crowns bought at face value about 45yrs ago, now worth abut £1.50 each. Hardly the best investment I have ever made but then comes the no point in selling them attitude.

That aside can anyone tell me what is wrong with a £5 coin for general use, does not have to be big and will outlast a bit of plastic a thousand or more times. I would also think harder to forge.

  oresome 20:40 14 Sep 2016

Having a £5 coin as loose change brings home the fact the Governments rob us blind with inflation every year, so perhaps they don't want to rub our faces in it.

  Forum Editor 22:49 14 Sep 2016

oresome

"....Governments rob us blind with inflation every year"

Eh? Methinks someone needs a lesson in economics. Try doing a bit of research on cost-push and demand-pull inflation.

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