"Like many others, I have fond memories of the old one-pound note and I would like to see it reinstated for general use as is still current in Scotland. It was a great signal of Great Britain and it im not asking for it to replace to one-pound coin but merely as nostalgic alternative to it. It would give a lovely aspect the next time you ask your friends to ‘lend us 40 sheets till pay day’ because they could technically lend you 40 pound notes, and the best thing about the pound notes is that you always feel like you’ve got more money in your pocket than you actually have thus promoting good feeling throughout the nation! Come on guys please sign this for old times sake!"
Madness on so many levels ... Disappointingly I'm failing to find the news reports and things I know I've read, long long ago, about the total lack of durability of banknotes, though the Bank of England's need to issue around a hundred million new fivers every year - that is, nearly half of the number in circulation - in other words, I think the life-span of a five pound note appears to be ... ah! The BBC reported in 2002 that the life-span of a fiver in 2002 was only about nine months. Judging by the bank's more recent statistics that seems to have risen somewhat recently, but still - they're not long-lived things, clearly. Whereas coins, the same BBC article points out, have a life-span of decades.
So. It appears that for small denominations, notes are not economically a good idea. Hence the coins. (In my experience, while one-pound notes are still theoretically in use in Scotland they are vanishingly rare). So how exactly is this rapidly-tatty bit of paper "a great signal of Great Britain"??
I rather infer and assume that having notes instead of coins for small denominations is expensive. You pay for the nostalgia-pound-notes, then, Mr Petitioner!
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