Are Scottish & Northern Irish notes legal tender?
In short ‘No’ these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales. The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term ‘legal tender’ has very little practical application.
this FAQ applies to Banknotes, but the principle is similar.
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If you knew the number of fake £1.00 coins there were in circulation, you'd be shocked. I get at least one every couple of weeks. Being a coin collector I recognise them instantly. Yet no-one else ever seems to notice.
You can try and spend them and if the shopkeeper accepts it then that's fine. AFAIK there's some shops in London that accept euros and some that accept US Dollars.
You can try and spend them and if the shopkeeper accepts it then that's fine. AFAIK there's some shops in London that accept euros and some that accept US Dollars.
But like I said, 'legal tender' seldom applies. It's all down to what someone deems acceptable currency - if that weren't the case, we wouldn't be able to spend Scottish banknotes anywhere.
I've recieved a Gibraltar pound coin in my change today..
Can this be used in the UK as legal tender? It's a modern one with Queen Elizabeth, dated 2002, and looks like a normal pound coin but is ever so slightly thinner..
I'm not entirely sure which shop I got it from so I can't go back Just hoping I can use it..
English Bank Notes and Coins are useable in Gibraltar, and are taken along side the locally printed pound notes and minted coins, the Euro is also freely taken in payment in Gibraltar.
Gibraltar's notes and coins are not spendable in the UK but can be changed at any bank into UK notes and coins, the value of the Gibraltar pounds is fixed at the same value as the British pound, however expect the grabbing banks to charge an exchange fee anyway !
Older vending machines often take Gibraltar coins as they are close enough to ours not to be spoted, likewise palmed amoung other coins they are easy to pass on.
Legal warning you should not knowingly pass on notes and coins you know to be worthless in payment as you stealing the item purchased. ( and that would be a very bad thing to do )
English Bank Notes and Coins are useable in Gibraltar, and are taken along side the locally printed pound notes and minted coins, the Euro is also freely taken in payment in Gibraltar.
Gibraltar's notes and coins are not spendable in the UK but can be changed at any bank into UK notes and coins, the value of the Gibraltar pounds is fixed at the same value as the British pound, however expect the grabbing banks to charge an exchange fee anyway !
Older vending machines often take Gibraltar coins as they are close enough to ours not to be spoted, likewise palmed amoung other coins they are easy to pass on.
Legal warning you should not knowingly pass on notes and coins you know to be worthless in payment as you stealing the item purchased. ( and that would be a very bad thing to do )
Thank you for replying to my thread..
your about 2 years too late though I finally spent it in the end
*phew* been wondering about what happened with this story for years now...at last we have closure.:p:D
I know. The mystery of what to do with a £1 Gibraltar coin. The trials and tribulations. Did anybody lose their job because of it and was it a life changing decision to be in possession of said coin.
I know. The mystery of what to do with a £1 Gibraltar coin. The trials and tribulations. Did anybody lose their job because of it and was it a life changing decision to be in possession of said coin.
Gibraltar money isnt legal tender in the UK. But Scottish, English, and Irish bank notes are perfectly legal there. Its a funny ole world.
It's because Scotland and Northern Ireland aren't independent, whereas Gibraltar is a self-governing British territory outside of the UK.
That being said, people have turned up their noses at my Scottish banknotes when going south of the border. They especially don't like Clydesdale banknotes - I've been called a swindler by one shopkeeper, whilst another asked if I thought he was stupid. The response, after not accepting legal tender, was a resounding yes.
Gibraltar money isnt legal tender in the UK. But Scottish, English, and Irish bank notes are perfectly legal there. Its a funny ole world.
The UK money is all pounds sterling. Some non-UK pounds, including Gibraltar's, are actually a different currency. They maintain parity with sterling but it is a separate currency that could, in theory, change value relative to sterling.
Comments
Are Scottish & Northern Irish notes legal tender?
In short ‘No’ these notes are not legal tender; only Bank of England notes are legal tender but only in England and Wales.
The term legal tender does not in itself govern the acceptability of banknotes in transactions. Whether or not notes have legal tender status, their acceptability as a means of payment is essentially a matter for agreement between the parties involved. Legal tender has a very narrow technical meaning in relation to the settlement of debt. If a debtor pays in legal tender the exact amount he owes under the terms of a contract, he has good defence in law if he is subsequently sued for non-payment of the debt. In ordinary everyday transactions, the term ‘legal tender’ has very little practical application.
this FAQ applies to Banknotes, but the principle is similar.
Surely a vending machine will spit it back out if it's thinner than a usual pound coin?
So we can spend Canadian and Australian coins?
That'd be great, their money is extremeley cheap!
Hazzah, I can now buy £1 worth of vending machine guck in an Aussie for just 43p or 47p if I went with the Looney.
...and Scottish Banknotes are not legal tender in England.
Yes, they're called Banks
You can get away with the coins but not the bank notes! I have a GIB £10 and no one will except in the UK, not even a UK Bank!
Use it in a vending machine, best way to get rid of it.
Really? since when?
I was told to accept them when I was a cashier 18 years ago, it was the Irish notes we couldn't accept.
They aren't even legal tender in Scotland...
But like I said, 'legal tender' seldom applies. It's all down to what someone deems acceptable currency - if that weren't the case, we wouldn't be able to spend Scottish banknotes anywhere.
English Bank Notes and Coins are useable in Gibraltar, and are taken along side the locally printed pound notes and minted coins, the Euro is also freely taken in payment in Gibraltar.
Gibraltar's notes and coins are not spendable in the UK but can be changed at any bank into UK notes and coins, the value of the Gibraltar pounds is fixed at the same value as the British pound, however expect the grabbing banks to charge an exchange fee anyway !
Older vending machines often take Gibraltar coins as they are close enough to ours not to be spoted, likewise palmed amoung other coins they are easy to pass on.
Legal warning you should not knowingly pass on notes and coins you know to be worthless in payment as you stealing the item purchased. ( and that would be a very bad thing to do
So how do you do that, so I can be informed?
Oh, I've just seen the date of this thread!
Thank you for replying to my thread..
your about 2 years too late though
I know. The mystery of what to do with a £1 Gibraltar coin. The trials and tribulations. Did anybody lose their job because of it and was it a life changing decision to be in possession of said coin.
Nah...think he just spent it.:D
http://news.bbc.co.uk/1/hi/uk/7988001.stm
It's because Scotland and Northern Ireland aren't independent, whereas Gibraltar is a self-governing British territory outside of the UK.
That being said, people have turned up their noses at my Scottish banknotes when going south of the border. They especially don't like Clydesdale banknotes - I've been called a swindler by one shopkeeper, whilst another asked if I thought he was stupid. The response, after not accepting legal tender, was a resounding yes.
The UK money is all pounds sterling. Some non-UK pounds, including Gibraltar's, are actually a different currency. They maintain parity with sterling but it is a separate currency that could, in theory, change value relative to sterling.
http://en.wikipedia.org/wiki/Pound_sterling
The Gibraltar pound is worth exactly the same as a UK pound. I am pretty sure that you can swap it for a UK one at any bank.