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Is it stupid to have the head of state's picture on money?
Topic Started: Apr 12 2018, 11:04 AM (142 Views)
+ Pelador
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Crazy Awesome Legend

I was just thinking, what is the point of putting a head of state's face on our money? When they abdicate or die it means we have to re-mint all the money again. When Prince Charles becomes our King, he's probably only going to have a short reign before William takes over. And this is going to cost millions and directly affect the economy.


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TrunksinSwimmingTrunks
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Formerly known as daman

Because she's your boss and you better remember it.

If the Queen dies, new notes don't have to be made right away (in Scotland I don't think the money even has an image of the monarch).

Quote:
 
The Bank would introduce new banknotes featuring the new Monarch. Notes featuring Queen Elizabeth II would continue in circulation until the new notes featuring the new Monarch were introduced into circulation. This would take place over a period of time to allow the withdrawal of the old notes as they become unfit for further circulation.


Judging from above, they would keep the old notes until they are "unfit for further circulation", which probably means when they are too damaged for use.



Source (Freedom of Information request): https://www.whatdotheyknow.com/request/reissuing_tender_after_the_death_2
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+ Emmeth
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I Yoeri

It's always good to re-mint coins anyway, because the circulation is good for the population. In our country we've re-minted coins 2 or 3 times since King Harald became our monarch. The economy has never been bad because of it.
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TrunksinSwimmingTrunks
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Formerly known as daman

Why is re-minting good for the population? To counter-act counterfeiting?
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