Treasury shows Island the colours of its new money
Thursday 3rd December 2009, 2:59PM GMT.
Part of one of the new notes
A COMPLETE set of new Jersey banknotes will enter general circulation in February, the Treasury Minister has revealed.
Senator Philip Ozouf has also announced that next year will see the introduction of a £100 note. However, his department is remaining very tight-lipped about what will feature on all but two of the notes.
Senator Ozouf revealed that the new notes, which will feature new security measures, would have the value printed in both French and Jèrriais on one side. And he said that the £1 note would feature the Liberation Statue, in Liberation Square, on the front and La Hougue Bie on the back. He said that the £100 note would be in general circulation next year, but would be launched after the other redesigned notes in February.
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More notes for the States to spend…
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Top Secret. The £1 Jèrriais note is to have the ‘Spud’ as its watermark?
Seriously. Most sub 5 Euro currencies now comes as a coin. Why are we still using notes?
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For a moment there I thought it was April 1st.
Can anyone tell me why we need a £100 note or is it a sign that taxes are about to go up even more?
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One word springs to mind…….Ugly
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There will also be a £0 pound note, that features a picture of the council of ministers.
It will have no practical use and zero face value, but will cost a great deal of money.
Everyone will have to buy one if they wish to stay in Jersey.
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Is it just me or does the new fifty pound note illustrated look remarkably like a note of the Euro variety?
Just replace the £ sign with the € symbol and bob’s (or perhaps philip’s) your uncle!
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Mark ‘Why are we still using notes?’
Try carrying around a wallet full of pound coins.
Then try carrying around a wallet full of pound notes.
Then you might realise the practical benefits.
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I think when Jersey actually sees the designs in total then the island will be in a better position to judge their suitability. The £1 note is an institution so I’m glad for one it’s being kept. We complain that in many ways Jersey is becoming like everywhere else, losing its “uniqueness” and in some respects this is true. However on the subject of our own currency (a pillar of a nation’s business heritage) we imply that individualities, like the £1 note should suddenly become obsolete? Congratulations to the Treasury for protecting it.
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Mark, notes are used so the Grocks have to spend them in the Island. bring any back to UK and you have to trail round a bank to change them. The thing that wories me about £100 note, is will prices rise to fufil its function?
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Mark,
I Would still rather have 8 one pound notes then 8 one pound coins weighing me down and getting lost in all the other useless change in my pocket.
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Ugly, boring and of course we werent even asked if we even want a change in our currency by Ozouf who has just decided to impose these euro-centric notes on us … all it needs is the ‘flying banana’ in the corner and it would be complete!!
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Can you make them identical to English notes please?
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Firstly, whats the point?
Secondly, so the one pound note will have the statue on one side and La Hougue Bie on the other…. which side is the Queen on?
Thirdly, Jerrais is going to be on them? Oh dear God….
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Jersey must have made a small fortune over the years by having “collectable” coins and notes.
During the height of the tourism boom significant amounts of currency must have left the island unspent and stayed out of circulation for ever in kids’money boxes and stayed there until they became outdated enough to chuckle at in reminiscence.
Similarly, stamps which are collected unused are sold without their part of the deal(delivering letters etc.) ever being honoured.
Put a nice picture of a castle on the note and many will be bought for collecting even though they have a spending value, fifty quid for instance.
Not a bad little wheeze, eh?
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owing to the fact that in the UK there are an estimated 1.4 billion fake £1 coins in circulation I bet UK treasury wished they’d stuck with notes.
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Don’t worry Jub, Ozouf and his council of ministers will soon take all your spare change off you under the guise of extra GST.
As per £100 notes who is going to change one of these? I have enough hassle getting someone to change a £20 note. Mind you if Ozouf and co. keep letting things rise in price over here maybe a £100 note will have the same purchasing power as a £10 note in a year or so?
I would change over to the euro and be done with it. Soon the euro will be worth more than the pound anyway. Maybe Gordon has a cunning plan to change over at parity? It would be a good time to change when £1= E1 wouldn’t it? Then where will Jersey be?
I think a panoramic view of the incinerator and the west of Albert should feature as the picture on the new Jersey £100 note. I would have the following words above it……
GATEWAY TO JERSEY.
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Jersey finds itself in the middle of a recession where strikes are being threatened by public service workers and people are losing their jobs all over the island.
And against this backdrop of financial despair Philip Ozouf proudly announces the island’s first £100 note?
It would be amusing were it not so insulting.
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owing to the fact that in the UK there are an estimated 1.4 billion fake £1 coins in circulation I bet UK treasury wished they’d stuck with notes.
I have a few ringers.
Automatic tills turn them up from time to time even in Jersey.
I keep them as souvenirs, as long as I do not try and pass them off as legal currency I think they are OK.
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It,s only money..don,t care whats on it as long as it,s spendable. They need updating anyway and hopefully also in braile for the blind as in some other countries.
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Simon (5)- very good joke
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Oh dear, the ill informed don’t realise that UK £100 notes have been in general circulation for decades. We have the Scottish banks to thank for that.
Well done Jersey !
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Is there nothing our government does that you lot won’t moan about?
For those who ask why the new notes have been introduced I can see one obvious clue “…will feature new security measures”.
For those who seem to be making a big deal of the £100 note….we have lasted many years with a £50 note and no-one complained, a £100 note simply moves with the times and reflects inflation (get over it – inflation happens everywhere except Japan, and they would kill for a bit of inflation)- we are almost at parity with the Euro and I don’t see any of you having a major moan at them for having a €500 note.
As for making some money from collectors – good for us! The Royal Mint has no problem flogging collectables and the collectors don’t complain about buying them – why do you have a problem with this?
As for the designs – we have seen a picture of one side of one note – a little rich to condemn the series. Fact is that modern notes need lots of colour for security, and why should we not put our national language alongside English? If I’m right the note above shows the Ecrehous and I think that’s a cracking new design.
Great news that we are moving with the times.
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Sam,
“Can you make them identical to English notes please?”
Erm, why Sam? Do you find Jersey notes confusing or something?
Hint: They have little numbers on, just look for these when your feeling a little confused about the value of them. The number would tell you how valuable it is compared to an English note.
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21 & 22
£100 notes are notoriously difficult to spend in some places because shops don;t necessarily have enough change to “break” a £100.
Imagine you want to buy a pint of milk and all you have is a £100…..it’s bad enough trying to break a £50 or even £20!
What practical use does having these large notes have anyway…..we live in 21st century and cash is being replaced by electronic money. I for one would prefer to make large purchases using me debit card instead of cash…..and as for the EUR 500 note that is simply ridiculous. All this can do is help money launderers or counterfeiters in my opinion.
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Are people daft or what? Who is going to take the risk on changing a £100 note? Whoever gets left with a forgery will be out of pocket. Also as BSD has pointed who will have sufficent change in their tills for a few silly customers who hand in £100 notes to buy the JEP for example?
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I welcome the new notes! If a £100 note is really needed is questionable. No one is forced to use it. But it is a good idea to retain the £1 note.
I can not await it to see the new banknotes.:-)
And they are trilingual, english, french and jèrriais: that is indeed a good idea!!
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Ozouf & co are a disgrace.
Over a 1000 unemployed and more joining them soon from Jersey Water and Jersey Telecom , which are next ??
Get your prioritys right……keep people in work first .
How much did this little lot cost us in designer fees & consultations ?
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“Soon the euro will be worth more than the pound anyway. Maybe Gordon has a cunning plan to change over at parity?”
Adrian, you may well be right but rather than being Gordon’s plan I suspect that it was envisaged by smarter people than him who previously changed their pounds into euros at the rate of about two euros for a pound.
Mike R.
Did I say I had a problem with Jersey making money from collectors? I was merely commenting that it was a good wheeze for swelling the States’coffers. No more than I’d expect from smart people.
Finally, to all those who can’t see the point of £100 notes, it will be either that or buy a holdall for when you go shopping. 1930′s Germany style.
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Well I for one am really looking forward to seeing the new notes. There is no doubt that our current notes are looking a tad outdated. I also really like the tri-lingual aspect. I think most people on here will moan about anything Ozouf does since his job is a complete poisonous chalice. Damned if he does and damned if he doesn’t.
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It would be so funny if the UK went over to the Euro soon then where would this leave Jersey? Up a creek without a paddle me thinks.
I find it amazing that certain people like Ozouf can do no wrong according to our “esteemed” media. I call it bigging up myself. I suppose this is why we have the spin machine over here to make everything appear fine and dandy even when it isn’t.
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Well, we might as well have nice notes while we still have faith in paper money.
And goodness knows how long that will be for because, if you think about it, bank notes are simply pieces of paper with no intrinsic value.
Yet, strangely enough, we work and accept PAPER in payment for our services. We shop and stores accept PAPER in exchange for the goods we take home.
But what would happen if the modern world lost its trust in bank notes?
One thing is for sure, manufacturers, food producers and shopkeepers would not accept them in exchange for goods…no matter what they looked like!
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Indeed Born Warrior you have seen through the disguise that is money. Money only has value because of perception. Change peoples perceptions and their view of money will change.
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….we could use stamps as legal tender, but they may be a lot easier to lose.
Personally, i’d prefer it if they brought back the bartering system…..I think 2 chickens and a pound of spuds would be a fair price for a new DVD player
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Am not sure why Philip Ozouf feels Jersey needs £50 and £100 notes.
We hardly ever see them over in the UK.
Bankers and financiers seem to be quite adept at getting money from their clients electronicly, therefore have no need for these high denomination notes.
But beware! When the ATM’s start issuing £50′s, we know inflation has got out of control, and the Pound has reached or passed parity with the Euro.
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i certainly hope the queen will still be on this money
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If you dont want or like a 100 pound note then just dont accept one. As for reasons why you might need them, then perhaps buying a car saves you carrying double the amount of paper in your pocket. Its a note, thats all it is. Instead of whining and moaning perhaps for once see the positives. We are not losing our 1 pound note but are gaining another.
Whine whine whine, as long as it is Jersey printed then what is the problem really. And come on people are not dumb enough to go to a shop with a 100 pound note to buy some milk, grow up. Fantastic argument but daft!
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BS Deluxe 33
There is only one kind of value, namely, that measured by the necessaries of life.
This is the only value that commands the market. So, if the seller of the DVD were truly hungry, you’d probably get it for “half a chicken” and you could spend the other half on a TV!
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“… as long as it is Jersey printed then what is the problem really.”
The last time bank notes were printed in Jersey was on “The Evening Post” presses during the Nazi occupation.
Since then, all our paper money has been printed either in the UK or in some foreign country.
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Matt (#29) has pointed out that “I think most people on here will moan about anything.”
‘Mea culpa’!
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Contributors have expressed opinions both for and against the introduction of a £100 to the Jersey economy.
Israel went through a period of hyperinflation from the mid 1970s to 1986. At one point, the retail price index there rose by 352% annually.
The Israeli government printed new bank notes – including a NIS (new Israel shekel) 5,000 note.
This was never issued, because draconian changes in fiscal rule meant that interests rate dropped to acceptable figures.
Although inflation in most countries of the world is at an unprecedented low point, it will doubtless rise in the future. It is then that a £100 note will come into its own.
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The majority of bank notes are printed by Thomas De La Rue and Company in Bedford. If you look at the back left hand side of Jersey notes it has their name printed.
I believe they only print money for countries with a GDP above a certain level.
Yawn!
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JProud
Actually, a lot of manual workers get paid in higher denominations because it’s easier to ensure the correct paypackets, therefore, the situation might not be so “daft”. What I think would be daft is carrying a wad full of notes to buy a car……..electronic payments are far more sensible and safer. There is absolutely no need to pay for goods with huge amounts of cash these days….unless perhaps you’re spending the proceeds of crime
Besides, as I mentioned earlier, we live in 21st century so why are we even still using cash?
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People are always going to need cash.
To buy a copy of the JEP on the run, a few mackerel off the boat or to pay the children their pocket money.
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It really must be time to get rid of the £1 note -
When I started driving, a £1 bought you nearly 9 Litres of Petrol – now it buys you one ! So why do we insist on having a piece of paper money, which would have been like having a 15p note 30 years ago !!!
Unlike in the US, where they have vending machines that accept Dollar Bills, I often find myself stuck for change at the office vending machine.
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Pip
How about some kind of universal top up card to use for small transactions such as buying milk etc? They could be swiped in the increasingly popular self service tills which seem to be popping up in larger stores…..or handed to a cashier in a small convenience store. Either way more efficient and safer than cash without the hassle of carrying bags full of change around.
Kids could carry them and there parents could top them up with their pocket money.
Surely this would go some way to making cash an obsolete payment form?
Coins to me are nothing but a burden, especially the bronze type, and I could save so much more if i didn’t have to put so many in jars until I have enough to take to the bank…..at my earliest convenience.
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I couldn’t disagree more Warren – pound coins weigh you down far too much.
The fact is we have both in circulation and if you get given change in notes you can usually ask the shop for coins.
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#45 A family friend came back from a holiday in new Zealand recently and was surprised that even when paying for just a newspaper in NZ people would use a card. Presumably there are not the charges involved that banks apply here?
Mind you, cash can be a lot quicker than using a card and in a newsagents where most people are just buying a couple of small items it could cause stupid queues.
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Leah, you might be amazed at how fast some card transactions are becoming.
In Lidl supermarkets which I use frequently the card transaction is almost immediate and the staff don’t ecourage dithering either.
It can often take longer fooling about with change especially when someone says ” I think I’ve got the right change on me if it helps” and then proceeds to find the purse in the handbag, in the shopping bag, then tips the money into their palm – “ooops need me glasses to see them tiddlers” etc etc.
We’ve all been behind more than one of them!
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@ Leah Holmes #47
Your friend may have witnessed something akin to an Oyster card.
There are many varying schemes about, some just trials, but they look set to be the norm eventually.
Basically they are a plastic card with a chip in, you transfer money from you account to the card at an ATM; so now you have a card with £10 on. Some of the schemes now treat that as cash, and you can spend it at the corner shop for small transactions(if it has the correct terminal) just by waving at the till; no PIN number to enter or change to digout/collect.
I believe NZ has often been used to test new technologies like these.
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Will Her Majesty The Queen, be featured on these new notes?
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Marx -
Jerrias blimmmin well should feature on a JERSEY note! It’s our own language and therefore is more appropriate to feature on our notes as opposed to our imported language of English, after all the characters of numerics are the same in both languages! Just to clarify im assuming you arent a full blooded Jerseyman. If you are be proud of what makes our island the best place on earth.
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Leah
Perhaps more self service tills could be set up for small purchases….besides it can’t be any worse than people either fiddling around for the correct change or using their debit cards just to buy a loaf
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I can’t tell from the picture but I hope the word “sterling” has been incorporated on the notes. This would enable us to use Jersey notes in the UK as it would be accepted as legal tender. I understand that the more Jersey notes in circulation the more money the treasury makes? If this is the case is there a legal reason for not stating that the notes are sterling?
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Re: Student 7
1. When Jersey enters the real world we will need for coin in slot machines and as a deposit on our shopping trotlines.
2. You may be a lucky student with bulging rolls of bank notes, but most of now shop using debit cards. Better and cheaper for us all; cash transfers are an expensive. slow and risky business.
Re: B S Deluxe 45 and Leah Holmes
You appear to be alive and prospering in the 21st Century, without the Jersey’s answer to Monopoly Money. Congratulations.
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#52 I remember the fun when self-service tills were introduced
Thankfully people have caught onto how to use them now.
#49 That sounds like it could be what he mentioned. Interesting idea.
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“I believe NZ has often been used to test new technologies like these.”
I believe you may be correct, J.L.
Ihave been told the same by people in New Zealand.
What is worrying, however, is that they are currently being primed by their government, via the media, for accepting that Joe Public is to blame for global warming and must pay the gover for his carbon footprint.
If they get away with that in NZ it will pave the way for it happening here.
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#53 Cathy
Whether or not notes are legal tender in England and Wales has nothing to do with whether the word “sterling” is printed on them – legal tender is defined by law. As the law stands in England and Wales, the only notes that are legal tender are Bank of England notes. You can see Scottish notes that have “sterling” printed on them – but they are still not legal tender. Of course, English shops and businesses can, if they want, accept all sorts of things that are not legal tender in their jurisdiction: cheques, credit cards, more than £5-worth in 10p pieces, Scottish notes, Northern Ireland notes, and naturally our own Jersey notes.
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Cathy #53. Surely the more Jersey notes that are taken out of circulation (by collectors and being mislaid or hoarded) the more money the treasury makes.
Sure, every time a note changes hands a taxation opportunity arises but so does it on cashless transactions.
Geraint Jennings #57. Although Jersey notes don’t go down well anywhere north of a Condor ferry, it is very satisfying to get rid of the coins, particularly Donkey ones, in parking meters. Especially if, like me, you are too tight to give them away as curios.
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