Go to first unread
Back
to top
When the Queen dies, what will happen to money?
Watch this thread
Announcements
This discussion is closed.
Funtry
Badges:
15
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#1
Sorry for the slightly confusing title, and slightly morbid too, but I've been thinking; when the Queen dies, what will happen to the money we use? Will it be replaced automatically by banks, phased out gradually (over say, 5 years), will it remain the same (no change, keep the Queen's face), or (I know this one is very unlikely) will they "restart the currency" again?
1
dbmag9
Badges:
15
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#2
Report
#2
New things will be issued with the new design, so the faces in distribution will change very gradually.
0
Origami Bullets
Badges:
19
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#3
Report
#3
I would imagine that they would just stop printing notes and making coins with the Queen's head on, and just let the old ones drop out of circulation naturally.
1
rj1990
Badges:
14
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#4
Report
#4
But, I'm gonna sound really dumb here, but where will it circulate to?......surely it will still always be around? Or do that many 10£ notes fall through drainholes in the streets? haha I mean all that money if it goes back to the banks, is just gonna be in the banks unused?
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
0
monk_keys
Badges:
16
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#5
Report
#5
(Original post by rj1990)
But, I'm gonna sound really dumb here, but where will it circulate to?......surely it will still always be around? Or do that many 10£ notes fall through drainholes in the streets? haha I mean all that money if it goes back to the banks, is just gonna be in the banks unused?
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
But, I'm gonna sound really dumb here, but where will it circulate to?......surely it will still always be around? Or do that many 10£ notes fall through drainholes in the streets? haha I mean all that money if it goes back to the banks, is just gonna be in the banks unused?
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
0
thegodofgod
Badges:
19
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#6
Report
#6
IIRC, if you exchange them at the Post Office, they then send them off to be destroyed as 'Unusable Tender', and they're replaced by the new notes/coins.
0
SillyEddy
Badges:
18
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#7
Report
#7
From a quick look at the minting history, the coins of the new Monarch would go into immediate production for the next year. It seems there isn't really a time where they honour the current Monarch by keeping their face on the coins, but considering how long it must take to get those coins out of circulation, she will probably be around for many years afterwards. The new Monarch would also face left on the coins, as their direction reverses after each new monarchy.
As far as I can tell, banks do sometimes have to send coins back, and the mint will probably destroy or recycle those coins and just produce new ones. Banks and shops are usually given newly minted money first and so they'll just give out the new money and when they collect money and bank it, it will find its way back to the mint.
As far as I can tell, banks do sometimes have to send coins back, and the mint will probably destroy or recycle those coins and just produce new ones. Banks and shops are usually given newly minted money first and so they'll just give out the new money and when they collect money and bank it, it will find its way back to the mint.
1
scrotgrot
Badges:
16
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#8
Report
#8
When you pay money into the bank it turns into magic numbers on a computer screen, when you get it back out it's crisp new notes, that's how the old notes drop out of circulation
0
455409
Badges:
17
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#9
Report
#9
Shops paying the cash from their tills into the bank will be the primary source of removal of the current currency, when it does change. In fact i'd say it'd change pretty fast, even small shops will take a few grand a day in cash which is paid in to the bank, and then presumably destroyed.
0
Klix88
Badges:
17
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#10
Report
#10
(Original post by SillyEddy)
It seems there isn't really a time where they honour the current Monarch by keeping their face on the coins, but considering how long it must take to get those coins out of circulation, she will probably be around for many years afterwards.
It seems there isn't really a time where they honour the current Monarch by keeping their face on the coins, but considering how long it must take to get those coins out of circulation, she will probably be around for many years afterwards.
I don't think Elizabeth II's image would be going away for a while.
1
SillyEddy
Badges:
18
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#11
Report
#11
(Original post by Klix88)
When I was a kid pre-decimalisation, my pocket money often used to include coins from the early reign of Queen Victoria. Some of those were well over 100 years old. They only stopped circulating in 1971 when the currency was replaced at decimalisation.
I don't think Elizabeth II's image would be going away for a while.
When I was a kid pre-decimalisation, my pocket money often used to include coins from the early reign of Queen Victoria. Some of those were well over 100 years old. They only stopped circulating in 1971 when the currency was replaced at decimalisation.
I don't think Elizabeth II's image would be going away for a while.
0
Snagprophet
Badges:
17
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#12
Report
#12
The same thing that happens whenever the Royal Mint prints new money: The Royal Mint will print new money and old money will be taken out of circulation, hence why we don't see pre-decimalisation tuppence any more.
0
Dirac Delta Function
Badges:
14
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#13
Report
#13
(Original post by Funtry)
Sorry for the slightly confusing title, and slightly morbid too, but I've been thinking; when the Queen dies, what will happen to the money we use? Will it be replaced automatically by banks, phased out gradually (over say, 5 years), will it remain the same (no change, keep the Queen's face), or (I know this one is very unlikely) will they "restart the currency" again?
Sorry for the slightly confusing title, and slightly morbid too, but I've been thinking; when the Queen dies, what will happen to the money we use? Will it be replaced automatically by banks, phased out gradually (over say, 5 years), will it remain the same (no change, keep the Queen's face), or (I know this one is very unlikely) will they "restart the currency" again?
6
little_wizard123
Badges:
19
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#14
Report
#14
(Original post by rj1990)
But, I'm gonna sound really dumb here, but where will it circulate to?......surely it will still always be around? Or do that many 10£ notes fall through drainholes in the streets? haha I mean all that money if it goes back to the banks, is just gonna be in the banks unused?
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
But, I'm gonna sound really dumb here, but where will it circulate to?......surely it will still always be around? Or do that many 10£ notes fall through drainholes in the streets? haha I mean all that money if it goes back to the banks, is just gonna be in the banks unused?
They should hand it down to poor people like your older brother or sister hands down her Umbro jumpers when your in primary school.
If so, why couldn't they give the new notes to poor people
1
TenOfThem
Badges:
18
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#15
Report
#15
(Original post by Klix88)
When I was a kid pre-decimalisation, my pocket money often used to include coins from the early reign of Queen Victoria. Some of those were well over 100 years old. They only stopped circulating in 1971 when the currency was replaced at decimalisation.
I don't think Elizabeth II's image would be going away for a while.
When I was a kid pre-decimalisation, my pocket money often used to include coins from the early reign of Queen Victoria. Some of those were well over 100 years old. They only stopped circulating in 1971 when the currency was replaced at decimalisation.
I don't think Elizabeth II's image would be going away for a while.
Just what I was going to say
0
TheGuy117
Badges:
14
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#16
Report
#16
To save money and cut the deficit, the government will probably send "Do it yourself money conversion kits" to everyone...basically glorified stickers with a picture of the new king that everyone must stick onto the money they have, covering the queen. Felt tips and stencils will be included to create a silhouette of the new king on coins.
0
Budskii
Badges:
9
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#17
Report
#17
0
CRIKEY12
Badges:
2
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#18
Report
#18
They will divide up her wealth among the population and we will be able to live in her palaces------in your dreams
0
Shock-horror
Badges:
10
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#19
Report
#19
As a note of intrest, it's said it would take around 3 years for all notes and coins to be changed to a new monarch. (perhaps-not-so-much)FACT
0
nulli tertius
Badges:
21
Rep:
?
You'll earn badges for being active around the site. Rep gems come when your posts are rated by other community members.
#20
Report
#20
(Original post by Snagprophet)
The same thing that happens whenever the Royal Mint prints new money: The Royal Mint will print new money and old money will be taken out of circulation, hence why we don't see pre-decimalisation tuppence any more.
The same thing that happens whenever the Royal Mint prints new money: The Royal Mint will print new money and old money will be taken out of circulation, hence why we don't see pre-decimalisation tuppence any more.
Here is a picture
0
X
new posts
