£1 from 1821 has the current purchasing power of approximately £138 today. If a collector wanted to buy these notes from me they would have to pay £200 to £300. But who knows!!
Voltaire (1694-1778) said:“Paper money eventually returns to its intrinsic value - zero.”(Probably in my very bad French “Le papier-monnaie revient finalement sa valeur intrinsèque : zéro.” 😀😀😀)
A bit of history that I previously didn’t know:
From 1260, when Kublai Khan completed the conquest of China and took the title of emperor, the issue of paper money became a settled and permanent feature of the Mongol government's financial policy....
Marco Polo wrote in his “Book Second, Part I, Chapter XXIV: “How the Great Kaan Causeth the Bark of Trees, Made into Something Like Paper, to Pass for Money over All His Country,”
“With these pieces of paper, made as I have described, he [Kublai Khan] causes all payments on his own account to be made; and he makes them to pass current universally over all his kingdoms and provinces and territories, and whithersoever his power and sovereignty extends. And nobody, however important he may think himself, dares to refuse them on pain of death.”
@randystreat
Thanks Kathy. These notes are British.
Ten years or so before this date the then convict colony of Australia had been using the drink rum as a trading currency due to lack of coins and banknotes. Convicts, settlers and soldiers bought and sold labour and goods using rum. The biggest problem was a lot of the community drank the rum!! The original money down the drain!! 🥴🥴🥴
@clifford@rensala
Thanks Cliff and Renee
Thanks Cliff. Quite a few places in Sydney don’t take cash. Only a week or so ago one of our biggest armoured carriers announced they are closing down as the business of securely carrying cash from businesses to banks and back again had decreased so much.
I join join the chorus of praises. Wonder about the relationship of 'Minting' to the development of etching as an art and printing in general. Huzzas for the Mongol Khan etc
@busylady@365projectltaylor
Thank you both. It’s interesting that these notes though printed were countersigned and given serial numbers and dates by hand!
Thanks for the much appreciated comments. These two notes are particularly fragile. I guess I’d be fragile after 204 years!
Thanks for taking the time to comment. My “old” theme is really fun for me. I see old everywhere.
Ian
The old pound notes are interesting to see. Are they Australian or British?
Thanks Kathy. These notes are British.
Ten years or so before this date the then convict colony of Australia had been using the drink rum as a trading currency due to lack of coins and banknotes. Convicts, settlers and soldiers bought and sold labour and goods using rum. The biggest problem was a lot of the community drank the rum!! The original money down the drain!! 🥴🥴🥴
Thanks for commenting. I’ll have to put up up some other bank notes!
Thanks Cliff and Renee
Thanks Cliff. Quite a few places in Sydney don’t take cash. Only a week or so ago one of our biggest armoured carriers announced they are closing down as the business of securely carrying cash from businesses to banks and back again had decreased so much.
Thanks for commenting.
Thanks. The notes are mine I bought them 30-40 years ago in a street market.
Thank you both. It’s interesting that these notes though printed were countersigned and given serial numbers and dates by hand!
Thanks Ann.