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Dentists Who Invest

The £100 Million Bank Note

So this is actually a thing…⁣

It’s a £100 million bank note issued by the Bank of England (non-circulating sadly).

They are created and stored in vaults. Banks in Scotland and Northern Ireland can issue currency against them. Think of it as the currency “budget” of these banks.⁣

Remember, once upon a time £1 = 1lb of sterling (97.5% purity) silver. Now they just write “£100 million” on a piece of paper and it becomes real – no need to go to the trouble of digging silver out of the ground.

Fun fact for the day.⁣

 

*Not Financial Advice

Disclaimer: The content on this blog is meant for informational purposes only and does not constitute financial advice. Readers should seek guidance from a professional financial advisor before making any investment decisions.

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