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Peter THOMAS
Pillar Of The Community
Australia
1466 Posts |
 Posted 03/09/2010 04:00 am
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http://uk.finance.yahoo.com/news/el...15a2fad.html
Monday 8 March 2010
Have a look in your wallet: any £20 notes with the image of Edward Elgar on them will not be legal tender after June 30 this year.
This means that shops no longer have to accept the notes, and it is up to banks whether they agree to swap notes after this date.
From July 1 only notes with the image of Adam Smith, the Scottish economist, will be legal tender. These notes first came into circulation in March 2007.
About ten per cent of all £20 notes in circulation equating to 150 million notes, worth £3 billion are the old versions featuring the English composer. They were first introduced in June 1999 along with a view of the west face of Worcester Cathedral, replacing the previous series of notes featuring Michael Faraday, the physicist, and before that William Shakespeare.
Old notes will eventually be sent to one of the official Government incinerators, where they will burned alongside damaged notes. A small amount of thermoelectric power is generated by these sites, which also burn illegal tobacco seized by HM Revenue and Customs at British ports.
After June 1 if a bank or building society refuses to swap a note, consumers have the right to swap the notes at the Bank of England itself. The Bank promises that it will honour the face value of any note issued, even notes from before World War II.
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pls
Pillar Of The Community
United States
873 Posts |
Posted 03/09/2010 2:14 pm
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Um ... I don't get it. Why are they being de-monetized? Is there an anti-Elgar movement in GB?
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thai-vic
Valued Member
Thailand
345 Posts |
Posted 03/09/2010 10:02 pm
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Okay, here's my theory so bear with me. The UK CAMRA (Campaign for Real Ale) group must have lobbied the British MPs to have the note removed because Elgar is an anagram of lager, which is an imported foreign drink much detested by the group members. Then again I could be wrong!
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pls
Pillar Of The Community
United States
873 Posts |
Posted 03/09/2010 11:10 pm
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"elgar" is also an anagram of "glare" - which is what I'm doing at thai-vic. Nice try. Next? lol
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Parklane64
Pillar Of The Community
USA
1457 Posts |
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thai-vic
Valued Member
Thailand
345 Posts |
Posted 03/10/2010 01:00 am
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Next theory. The British Government is planning to get rid of the monarchy and declare a Republic. Elgar is an anagram of regal... get it?
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EmperorFives
Valued Member
Singapore
68 Posts |
Posted 03/14/2010 06:21 am
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Adam Smith look much better than Elgar on paper.
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wd1040
Pillar Of The Community
United States
2865 Posts |
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pls
Pillar Of The Community
United States
873 Posts |
Posted 03/14/2010 4:02 pm
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*pls takes a sip of a fine lager to help him forget thai-vic's theories*
wd, the representation of Faraday reminds me that I need a haircut worse than he did. He should have stayed in his Faraday cage so that the lightning that hit him wouldn't have ruffled his feathers so badly ...
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kena
Pillar Of The Community
United Kingdom
632 Posts |
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