Scottish Exchange Rate

[Boynielaad]

Saw this in Turkey recently.

Never, ever seen a separate rate for Scottish currency.

Being a Scot I was kinda proud until I saw that the English version appears more valuable.

 

[Canon Bob]

It's quite common to see a distinction between the two "pounds" and the non-Scottish version is always a better rate.

Bob

 

[TwentySixDays]

The Turks weren't at Culloden were they

 

[Flash In The Pan]

Scottish notes sell for a lower rate to the foreign banks, you can also find different rates for different denominations of English pounds and US dollars

 

[SpidersEye]

And using Scottish notes in England can sometimes be a very complicated business ...

 

[StuD]

But is the exchange rate going the other way in our favour? Could be worth converting Scottish notes one way, English notes the other and making a profit!

 

[a1ex2001]

And using Scottish notes in England can sometimes be a very complicated business ...

Because they are not legal tender in England and Wales so it is upto the shop keeper to decide if they want to accept them and many refuse as they don't know what one is supposed to look like so don't know if they are fake or not.

 

[2blue4u]

Because they are not legal tender in England and Wales so it is upto the shop keeper to decide if they want to accept them and many refuse as they don't know what one is supposed to look like so don't know if they are fake or not.

You're going to get grief for saying that. I know, I did when I said the same.

The real oddity is that Northern Irish banknotes ARE legal tender in England & Wales - but Scottish banknotes are not.

 

[a1ex2001]

You're going to get grief for saying that. I know, I did when I said the same.

The real oddity is that Northern Irish banknotes ARE legal tender in England & Wales - but Scottish banknotes are not.

Northern Irish banknotes are not legal tender either.

 

[fontmoss]

in what way not legal tender? given the Scottish mint was set up first if memory serves

 

[aberal]

Because they are not legal tender in England and Wales so it is upto the shop keeper to decide if they want to accept them and many refuse as they don't know what one is supposed to look like so don't know if they are fake or not.

That's true. In some obscure legal definition a Scottish banknote is not legal tender - and I think that applies even in Scotland! But they are "recognized" by the Bank of England and as such are worth the exact same amount as a Bank of England pound. Don't know why it's being bought/sold at a different rate than the GB pound though. Although you get Scottish pound notes there is no such thing as the Scottish pound. :shrug:

 

[a1ex2001]

in what way not legal tender? given the Scottish mint was set up first if memory serves

It is not Legal Tender, that is a simple statment of fact check the Bank of England website if you must the who was set up first debate seems a little school yard bully for proper intelectual debate. Whether or not it's status as legal tender is really relevant or not is an entirely different matter, most big businesses in England are happy to accept Scotish bank notes as a form of payment but I can understand smaller businesses being a little reticent as they will not very often see them so will have no idea if they are genuine or not.

 

[GavSt]

It is not Legal Tender, that is a simple statment of fact check the Bank of England website if you must the who was set up first debate seems a little school yard bully for proper intelectual debate. Whether or not it's status as legal tender is really relevant or not is an entirely different matter, most big businesses in England are happy to accept Scotish bank notes as a form of payment but I can understand smaller businesses being a little reticent as they will not very often see them so will have no idea if they are genuine or not.

Which is quite funny because the most common forged note in the UK is the English £20...