The E-Sylum:  Volume 9, Number 51, December 17, 2006, Article 19

FIVE POUND BANK OF ENGLAND NOTE IN SHORT SUPPLY

According to a report published in The Daily Mail December 13, "The £5
note is becoming an endangered species. An unannounced decision by banks
over the past two years not to offer them in cash machines has resulted
in a shrinking supply.

"The Bank of England produced 63 million last year, the lowest figure
on record and down 73% in five years."

"But there is a suspicion that most of these are sitting in the vaults
of banks or retailers. The spokesman said retailers appear increasingly
to be holding on to £5 notes overnight in their till floats, rather than
depositing them with banks, probably for the practical reason of having
them available for change.

"The result is that the notes that do remain in circulation are
increasingly likely to be ripped or tatty, as damaged ones are only
weeded out when returned to the banks."

"The knock-on effect is that stores cannot offer them in change, which
means they have to ladle out vast quantities of coins instead."

To read the complete article, see: Full Story

  Wayne Homren, Editor

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