Tuesday, September 16, 2008

Million Pound Note Up for Auction

Spink has announced the sale of the famous Number Eight £1,000,000 note. It is believed that only two notes of this high denomination exist in the world today, the other numbered 000007.

The million pound note was issued in connection with the Marshall Aid Plan after World War II and was intended for internal use as ‘records of movement,’ for a period of six weeks only. It is believed that nine examples were produced and only two, Numbers Seven and Eight, survived.

The two notes were given as mementoes to the respective U.S. and U.K. Treasury Secretaries. The Number Seven was first sold in 1977 and is listed in the Guinness Book of Records as being the highest denomination note in private hands.

The 8-inch-wide green banknote, numbered 000008, was issued by the Bank of England on Aug. 30, 1948, in connection with the Marshall Aid Plan in the aftermath of World War II. It bears the signature of E. E. Bridges in the lower right hand corner and is cancelled over the signature and stamped 6 October 1948, Bank of England. Spink’s said the defunct note, entered for sale by the U.K.-based banknote collector Bill Parkinson, may fetch 35,000 pounds to 40,000 pounds at its Oct. 1 sale of world banknotes.

“This is the highest denomination of banknote we’ve ever sold,” said Barnaby Faull, director of banknotes at Spink. “There are hyperinflation Weimar-period notes for 10 billion marks, but they would only have bought a cup of coffee.”

Faull said that though technically legal tender, the million-pound note was more of an IOU than a usable banknote.

Spink sold number 000007 through a private sale for 8,000 pounds in 1977, when the note was listed by the Guinness Book of Records as being the highest denomination in private ownership.

“We would have sold it at auction, but the Bank of England asked us to sell it privately because it didn’t want the publicity,” said Faull. “It was horrified there was a million- pound note still in private hands.”

Nutmegcollector updated November 17, 2008 - Spink sold the famous Number Eight £1,000,000 note for £78,300 (US $117,727.30) to a private UK based collector.

Nutmegcollector updated July 25, 2012 - The number 000007 was sold for £69,000 at a specialist sale in London on September 30, 2011.

Friday, September 12, 2008

Lewes Pound Launches

The Argus
September 12, 2008

Shoppers can ditch sterling from today and use their own currency.

More than 70 traders in Lewes have agreed to accept the Lewes Pound as a complementary currency to pound sterling.

Up to 10,000 Lewes Pound notes have been designed and were unveiled at the launch at Lewes Town Hall last night.

Organisers say the initiative would help increase a sense of pride in the community, help cut CO2 emissions and boost economic resilience amid the global economic downturn.

Oliver Dudok van Heel, of the Lewes Pound Group, said: “There will always be a need for a national currency, but it’s a question of promoting what can be done locally.”

The move is a step back to the past for Lewes, which had its own currency between 1789 and 1895.

Complementary currencies have also been introduced in other parts of Britain and across the world.

The pilot scheme in Lewes will run until August next year, when a review will take place to determine whether it will continue into its next phase.

Lewes Mayor Michael Chartier, who will officially launch the local pound, said: “The idea behind it is to encourage as many local people as possible to shop locally.

“Lewes has a tradition of small shops and hasn’t got a large number of major chain stores like a lot of other towns have. It has traditionally been the small shops that have given Lewes its unique appeal.”

The Lewes Pound, which was drawn up by Transition Town Lewes (TTL), will be worth a pound sterling and will only be redeemed at locally participating stores.

TTL is made up of residents whose aim is to build resilience to the challenges of rising energy prices and climate change.

It says one of its key initiatives is to localise the economy and it sees the launch of the Lewes Pound as an important component in promoting trade for local traders and local goods.

The notes will be printed in Totnes, Devon, which runs a similar scheme.

Each note has its own serial number, watermark and heat-sensitive fibres to ward against forgeries.

Sarah Palin $100 Commemorative Banknote

By Nutmegcollector

This novelty banknote commemorates a very special occasion that for the first time a woman becomes the Republican Party nominee for Vice President of the United States.

Sarah Palin, Governor of Alaska, turns out to be very popular. She attracts large crowds; energies campaign rallies and often overshadows the presidential nominee, John McCain.

At 44, Palin is a rising star of the Republican Party. Regardless of the outcome of this election, she may someday be the first woman President of the United States.

Front: Republican National Convention logo at left, photo of Palin at center, and “Republican National Convention Saint Paul, Minnesota September 1-4, 2008” overprints over the Treasury seal at right, the serial numbers consisting of the two letter abbreviation for Minnesota followed by the date of the last day of the Convention, and the names of the presidential and vice presidential nominees at bottom left and right

Back: Sarah Palin making her acceptance speech in the Excel Energy Center on September 3, 2008

Sunday, September 7, 2008

A $10,000,000,000,000 Note to Pay Off Our National Debt

By Nutmegcollector

I created this 10 trillion dollar novelty note with one thing in mind - my contribution to pay off our $9.6 trillion national debt. Like Paris Hilton said, problem solved!

Tuesday, September 2, 2008

Barack Obama Commemorative Banknote

By Nutmegcollector

I created this novelty banknote to commemorate an historical event that for the first time in our nation’s history, an African-American becomes the presidential nominee for a major political party. Whether he would win the election on November 4th to become the 44th President of the Unites States has yet to be seen.

Front: Portrait of Barack Obama at center, Obama campaign logo at left, “Democratic National Convention Denver, Colorado August 25-28 2008” overprints at right over the treasury seal, the serial number consisting of the two letter initials for the State of Colorado and the date for the last day of the Convention, names of both the presidential and vice presidential nominees at bottom left and right.

Back: Barack Obama addressing the crowd at Invesco Field, also known as Mile High Stadium, during the last day of the Convention