Old Money, is it worth Anything?

mysticsniper

mysticsniper

mysticsniper

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I have just found an old £20 note. It was in one of my old books; was having a clear out and found it by accident, it has the picture of William Shakespeare on one side of the note.

Can I still exchange this for face value, or is it not worth the paper its written on :p ;)
 
Cool :D

Im not sure about that type of money, although you can always look up the value on wiki or something, but I've read that a sepcific 2p coin from 1971 that has "New Pence" written on it can fetch £400.
 
It's still £20, money doesn't expire. But I wouldn't have thought it'd be worth any more yet. Suppose it depends on the year and condition.
 
gumbald said:
It's still £20, money doesn't expire. But I wouldn't have thought it'd be worth any more yet. Suppose it depends on the year and condition.
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it doesnt, but any note that isnt in circulation shouldnt be taken by any retailers, it should be noted:) edit: post offices can, by discretion, apparently:)
 
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Hmmm..perhaps you could stick it on ebay starting at £20, if it's easy to find and you have good feedback etc., then you might find out the true value of the coin.
 
I don't think it'll be worth anything more than face value. Something that new won't be interesting to numismatists.

Seing as a note is a representation of £20, you should be able to exchange it for face value though.
 
Cyberstrike2027 said:
Take it to a bank and see :P

I reckon you could, if you really need £20 desperately :rolleyes:
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I'd be straight down the bank getting the £20 in my pocket thanks. £20 is certainly worth having in my book. If it was fiver I'd still go and do it but maybe not make a special trip.;)
 
Most old money isn't worth much at all. Even Victorian-era coinage. It has to be very old/very rare or both to fetch any decent sum.
 
Are old Bank of England notes worthless?
No; all Bank of England notes retain their face value for all time. If your local bank, building society or Post Office is not willing to accept these notes then they can be exchanged with the Bank of England in London. Contact the Bank of England for details.

What is the Bank’s “Promise to Pay”?
The words “I promise to pay the bearer on demand the sum of five [ten/twenty/fifty] pounds” date 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 to the same value. For example, a £5 note could be exchanged for five gold coins, called sovereigns. But the value of the pound has not been linked to gold for many years, so the meaning of the promise to pay has changed. Exchange into gold is no longer possible and Bank of England notes can only be exchanged for other Bank of England notes of the same face value. Public trust in the pound is now maintained by the operation of monetary policy, the objective of which is price stability.

More info here

From what i recall of a conversation with a bank manager, most banks will swap note for 'Face Value' so if you find an old £100 note from years back they will give you £100, though the actual value of the note to a collector may be more but then you would have to sell it privately to that individual.
 
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