Discussion
Saw some of these today for the first time in many years......and I began to wonder - why aren't they in wider circulation.
I used to work in retail over 25 years ago - and we would happily accept £20 notes back then, but there was a reluctance by the shop to accept £50s (I guess owing to the risk of losing so much in one go if it turned out to be a fake).
The thing is however - inflation has devalued the £50 note almost to the point it's worth only marginally more (in real terms) than a £20 note was 25 years ago......so why is there still a reluctance to use them and for shops to take them?
Why hasn't the £50 note become the new £20 note? (and I guess a related question - why don't we now have a £100 note to give us a note equivalent the pre-inflation £50)
Does retail have an irrational fear of £50s?
I used to work in retail over 25 years ago - and we would happily accept £20 notes back then, but there was a reluctance by the shop to accept £50s (I guess owing to the risk of losing so much in one go if it turned out to be a fake).
The thing is however - inflation has devalued the £50 note almost to the point it's worth only marginally more (in real terms) than a £20 note was 25 years ago......so why is there still a reluctance to use them and for shops to take them?
Why hasn't the £50 note become the new £20 note? (and I guess a related question - why don't we now have a £100 note to give us a note equivalent the pre-inflation £50)
Does retail have an irrational fear of £50s?
Often wondered the same thing... I use £50s fairly often and haven't ever had too much of an issue with them.
In the USA I always use $100 and other than some gas stations (and McDs oddly) I've never had an issue with them either.
That said, with contactless becoming more and more prevalent I find myself using less cash now than ever before so not sure how relevant any notes are going to be in the longer term.
In the USA I always use $100 and other than some gas stations (and McDs oddly) I've never had an issue with them either.
That said, with contactless becoming more and more prevalent I find myself using less cash now than ever before so not sure how relevant any notes are going to be in the longer term.
K50 DEL said:
Often wondered the same thing... I use £50s fairly often and haven't ever had too much of an issue with them.
I haven't seen a £50 in years, they aren't at all common. Can't remember the last time I actually spent one whilst out and about (not sure I ever have) and short of walking into a bank and specifically asking for £50s - i'm not sure how you even encounter them in day to day life as I have never seen a cash point that dispenses them and it's be impossible to get one as 'change'.
Edited by Moonhawk on Monday 25th September 10:21
The last time I had one was buying my car, coming up to 6 years ago.
I felt very nervous walking back from the bank with £5k in cash tucked in my pocket, but in reality, who would know?
There is no reason I can currently think of when I would be dealing with more than about £100 in cash, other than buying / selling a car.
I felt very nervous walking back from the bank with £5k in cash tucked in my pocket, but in reality, who would know?
There is no reason I can currently think of when I would be dealing with more than about £100 in cash, other than buying / selling a car.
About twenty years ago, I was in Maccy D's and an elderly lady wanted to pay with a fifty pound note. (She had no other money)
The young girl summoned the manager from the back, there was a brief conversation, and the upshot was they gave her the meal free rather than accept the note.
The young girl summoned the manager from the back, there was a brief conversation, and the upshot was they gave her the meal free rather than accept the note.
I always like to give my niece's a £50 note on significant birthdays, but this year when I went to my bank, they didn't have any! Apparently, they don't routinely stock them and none of the shops in the area are happy to accept them because the hit of inadvertently accepting a duff one is too much for them.
This is the only occasion that I get to see one aswell!
This is the only occasion that I get to see one aswell!
When I was driving a black cab, if I was offered a £50 note for a fare my antenna would go into "suspicious" mode, and I'd give it more than a cursory glance before accepting it.
I never used one of those pen checker gizmos, but relied on my own street smarts, and fortunately never came unstuck.
Once, a real soapy young couple hailed me in Kennington, and said that they only had a £50, would I take it?
It looked like a Ruritanian 99 klinker note that had been through a washing machine cycle, so I politely declined.
I was once asked by 3 Scots guys if I had enough change to take a Scots £100 note for a job that would have gone about £12.
I knew Scots £100s existed, but I'd never seen one, so I said no, I'd only just started work, and had a £50 float.
They pulled up a Scots £20, and I took that.
I'd take Scots £20s, £10s and £5s, but not £50s, or the £1 ones they used to have.
I took Northern Ireland notes and Isle of Man ones, but never Channel Island ones, apparently they didn't have the word Sterling on them, and I was told that made them not kosher.
I would take Euros and U.S. dollars, but at a rate that would make your eyes water, if anyone complained that they could do better in a bank, I'd say "Sure, leave me a deposit, and I'll park outside the bank, (with the meter running), while you change them up, OR you can pay by CC, your call."
I didn't change any Euros or dollars up, I'd use them on holiday.
I never used one of those pen checker gizmos, but relied on my own street smarts, and fortunately never came unstuck.
Once, a real soapy young couple hailed me in Kennington, and said that they only had a £50, would I take it?
It looked like a Ruritanian 99 klinker note that had been through a washing machine cycle, so I politely declined.
I was once asked by 3 Scots guys if I had enough change to take a Scots £100 note for a job that would have gone about £12.
I knew Scots £100s existed, but I'd never seen one, so I said no, I'd only just started work, and had a £50 float.
They pulled up a Scots £20, and I took that.
I'd take Scots £20s, £10s and £5s, but not £50s, or the £1 ones they used to have.
I took Northern Ireland notes and Isle of Man ones, but never Channel Island ones, apparently they didn't have the word Sterling on them, and I was told that made them not kosher.
I would take Euros and U.S. dollars, but at a rate that would make your eyes water, if anyone complained that they could do better in a bank, I'd say "Sure, leave me a deposit, and I'll park outside the bank, (with the meter running), while you change them up, OR you can pay by CC, your call."
I didn't change any Euros or dollars up, I'd use them on holiday.
kapiteinlangzaam said:
Similarly here in the EU, they issue €200 and €500 notes, but no place will accept them. Come to think of it ive not seen a €100 in daily circulation either.
But if I take out €100 it will almost always be a couple of €50 notes, and I've never found a shop reluctant to take them. €50 was pretty close to £50 a couple of weeks ago. Not seen a €100 or €200 at all though. Gassing Station | Finance | Top of Page | What's New | My Stuff