What happens to money when the Queen stands down?

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Soldato
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Which is most likely when she dies.

Do they just phase them in like any other change of design? So higher value notes will change very quickly whereas coins, especially coppers will be around for many years, or would they actively try to get them changed as quickly as possible?
 
Not old enough to remember coins with the old Kings head on them I see.......

Notes will slowly be withdrawn and reissued, as happens with all denomination alterations such as the recent £20 and £5 redesigns.....
 
The bakners will demand confistcation of all notes

THE economy collapses.

FACT

All money is fiat

The only wealth is precious minerals[/I
 
Skull said:
The bakners will demand confistcation of all notes

THE economy collapses.

FACT

All money is fiat

The only wealth is precious minerals[/I
Click to expand...


What do the Bakers want with all those notes?

And Fiat, I thought they made Cars, I didn't realise they printed UK banknotes.

And that pesky precious Miner.....:eek:

:p
 
Seriously though it does give them the opportunity to readjust the levels of currency, which is traditionally done at this point.

1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5, £10, £20, £50, £100 aren't really ideal, and we've had them for a very long time. We added the coins in there but broadly speaking we've had the same since decimalisation.

The last time I checked what inflation would cause currency to move to it would be something like this...

Coins

4p, 8p, 20p, 80p, £1.10, £2.30, £3.20, £6.40

Notes

£22.80, £45.60, £91.20, £228 and £456

It'll take some getting used to. And it won't be those specific numbers, because inflation will most likely push things up before Her Majesty leaves us. They may more than likely choose to round them off a little to make it easier.
 
The Halk said:
Seriously though it does give them the opportunity to readjust the levels of currency, which is traditionally done at this point.

1p, 2p, 5p, 10p, 20p, 50p, £1, £2, £5, £10, £20, £50, £100 aren't really ideal, and we've had them for a very long time. We added the coins in there but broadly speaking we've had the same since decimalisation.

The last time I checked what inflation would cause currency to move to it would be something like this...

Coins

4p, 8p, 20p, 80p, £1.10, £2.30, £3.20, £6.40

Notes

£22.80, £45.60, £91.20, £228 and £456

It'll take some getting used to. And it won't be those specific numbers, because inflation will most likely push things up before Her Majesty leaves us. They may more than likely choose to round them off a little to make it easier.
Click to expand...



Lol.

A £22.80 note.......:D

You might want to have a think and look at that again Halk.

The relative purchasing power of the denomination value is immaterial to the face value of the currency.

A £20 note is always worth £20......what £20 buys you changes.
 
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The Halk said:
<snip>

The last time I checked what inflation would cause currency to move to it would be something like this...

Coins

4p, 8p, 20p, 80p, £1.10, £2.30, £3.20, £6.40

Notes

£22.80, £45.60, £91.20, £228 and £456

It'll take some getting used to. And it won't be those specific numbers, because inflation will most likely push things up before Her Majesty leaves us. They may more than likely choose to round them off a little to make it easier.
Click to expand...

No, you keep the same denominations, but get different change for the same purchases.

Making currency for anything other than round values would be a silly idea IMO and would just confuse everybody. Also, it provides more opportunities for unscrupulous retailers to take advantage of those whose mental arithmetic isn't up to scratch.
 
PianoBasher said:
No, you keep the same denominations, but get different change for the same purchases.

Making currency for anything other than round values would be a silly idea IMO and would just confuse everybody. Also, it provides more opportunities for unscrupulous retailers to take advantage of those whose mental arithmetic isn't up to scratch.
Click to expand...

this. It makes no sense to have denominations in anything but round numbers.

£25 note wouldn't be out of the question though.
 
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