A wise old man in the pub taught me about money tonight..

[mickw 10]

While your point is correct factually, your not allowed to deface legal tender as it has the queens head on it

 

 

 

How come you can now place a coin in one of those machines that stretches it and stamps an emblem on it. Such as the machine at the Sealife centre in Scarborough that stamps it with the Sealife logo.

[Steve70 10]

Did you know that if you carefully file the corners of a 50 p you can actually make a 10 p

I know its amazing i have made £345 worth of 10 ps

[REPO MAN 10]

Those who have a local which they frequent oftenly might know what i'm on about when i say....you know the little old bloke who sits in the corner who you have 5 mins with every other time your in the pub who usually fills your head with pointless facts but the odd time you get some stuff out of him which you never knew, well anyway that same old man and me had a chat tonight over a pint whilst at the bar and he taught me a thing or two about cash......

 

Did you know.......

 

The 2p coin is only legal tender upto 20p worth, after that it's no longer legal tender and the salesperson has the legal right to refuse you should they want to? Just as the 50p coin is only legal tender upto £10 again if the salesperson at wherever you may be decided they didn't want to money they could turn you away legally.

 

Did you know that back in the 70s the 2p coin was worth more than it's actual value do to Copper prices? Wish I woul have been around then to take advantage of that one, apparently a 2p coin at it's height was worth 3.5p.....work it out for yourself, I have got my hands on £1000 worth of 2p coins from every bank I could get them from and shuld I want to I have made an instant profit of £750....BONUS!.......A shame for us though in current times it's only worth about 0.2p which isn't quite as exciting

 

And finally which is'nt as exciting the £1 coin is the cheapest coin the manufacture, whilst the £2 coin is the most expensive due to it being manufactured from two different types of metal!

 

Like I said pretty pointless information to most, however makes an interesting thought process over a pint of amber in the local...........Where do these guys get it from?

 

they get it from the program on tv about two days ago !!!!!

[carosio 186]

Does anyone know if there is a legal limit to the amount of cash that you can hold without putting it into a bank account?

[HarmOKnee 10]

Does anyone know if there is a legal limit to the amount of cash that you can hold without putting it into a bank account?

I suppose that depends on how big your hands are

[Fartown 10]

Did you know that if you carefully file the corners of a 50 p you can actually make a 10 p

I know its amazing i have made £345 worth of 10 ps

 

Did you know that some years ago (shortly after the 50p was introduced) there was a spate of cigarette machine robberies in London Underground stations?

 

Empty machines. No sign of damage. No money in the machine, but water in the coin mechanism and on the ground below the machine.

 

Apparently some enterprising individual had made some 50p moulds which he filled with water and froze. Froze them to 'minus a lot'. The ice coins worked rather well and there were no fingerprints.

[miaowwoof 10]

What i don't understand is 2p is legal tender up to 20p (10 coins) but 5p is legal tender up to a fiver (100 coins). Who comes up with these stupid rules?

 

When i was a kid i always remember bus drivers refusing me on the bus if i wanted to pay in copper. Think bus far was 30p at the time.

[Device 10]

This old man can't have been that wise with money if he's drinking in a pub these days.

[Hairyloon 10]

Did you know that back in the 70s the 2p coin was worth more than it's actual value do to Copper prices? Wish I woul have been around then to take advantage of that one, apparently a 2p coin at it's height was worth 3.5p.....work it out for yourself, I have got my hands on £1000 worth of 2p coins from every bank I could get them from and shuld I want to I have made an instant profit of £750....BONUS!.......A shame for us though in current times it's only worth about 0.2p which isn't quite as exciting

The reason for that price drop is that they are made of steel with just a coating of copper.

Copper is currently fetching about £4000/tonne, and a penny weighs an eighth of an ounce: about 14p worth.

Steel is maybe £150/tonne, which would make your tuppence worth about 1p in metal.

[Pidgeon 10]

Think it's just one of those grumpy rules that arsey bus drivers use to make our lives that little bit grayer.

[kidley 48]

Hi

A bit of copy and paste here folks

 

All Scottish banks have the right to print their own notes. Three choose to do so: The Bank of Scotland (founded 1695), The Royal Bank of Scotland (founded 1727) and the Clydesdale Bank (owned by National Australia Bank). Only the Royal Bank prints pound notes. All the banks print 5,10,20 and 100 notes. Only the Bank of Scotland and Clydesdale Bank print 50 pound notes.

 

Scottish bank notes are not legal tender in Scotland. English bank notes of denomination less than 5UKP were legal tender in Scotland under Currency and Bank Notes Act 1954. Now, with the removal of BoE 1UKP notes, only coins constitute legal tender in Scotland. English bank notes are only legal tender in England, Wales, The Channel Islands and the Isle of Man. In Scotland, 1 pound coins are legal tender to any amount, 20ps and 50ps are legal tender up to 10 pounds; 10p and 5ps to 5 pounds and 2p and 1p coins are legal tender to 20p (separately or in combination). 2 pounds coins and (if you can get hold of one) 5 pound coins are also legal tender to unlimited amounts, as are gold coins of the realm at face value (in Scotland at least).

[cgksheff 44]

http://www.royalmint.com/corporate/policies/legal_tender_guidelines.aspx