Alias Posted July 22, 2005 Share Posted July 22, 2005 Why do we have manx notes? Does it annoy anyone else? My pride isn't going to be hurt by using english notes for sure... Link to comment Share on other sites More sharing options...
Lonan3 Posted July 22, 2005 Share Posted July 22, 2005 Why do we have manx notes? Does it annoy anyone else? My pride isn't going to be pride by using english notes for sure... <{POST_SNAPBACK}> Mainly for business - I believe they're a nice little earner for the Treasury. The 'pride' is just a useful by-product. Link to comment Share on other sites More sharing options...
ans Posted July 22, 2005 Share Posted July 22, 2005 I could care less. It's cool to have a national currency but a real pain in the ass that it's not accepted in the UK. Link to comment Share on other sites More sharing options...
La_Dolce_Vita Posted July 22, 2005 Share Posted July 22, 2005 Doesn't really bother me that much. The only time it becomes somewhat bothersome is when I am heading over the UK but I say somewhat because usually it isn't a lot of money to get changed and traipse my bum to a bank. I suppose really there is no reason why it should go. Few people are making daily trips to UK with pocketsful of Manx cash with the expectation of going on some sort of shopping spree. Link to comment Share on other sites More sharing options...
matty Posted July 22, 2005 Share Posted July 22, 2005 I suspect we'll all probably be using the Euro soon enough. It made my life so much easier when working in Europe, having the same currency between the different countries it used to be ridiculous the amount of small change you would end up with converting pounds to marks, then to lira, then to guilders before tyring to change what you had left back to pounds on the trip home. So if the UK adopts Euros - I suppose the IOM will have to - if so, do we have "Manx Euros" and could we spend them in the rest of Europe??? Link to comment Share on other sites More sharing options...
marcus Posted July 22, 2005 Share Posted July 22, 2005 Love the manx £1 note, although i went out and got lashed, woke mane..initially down as i was sure i had shifted ++ cash, imagine my 'delight' on checking my wallet to find it stuffed with ' cash' only to discover £11 in pound notes. Link to comment Share on other sites More sharing options...
Rhumsaa Posted July 23, 2005 Share Posted July 23, 2005 I like the manx money it's individualism Link to comment Share on other sites More sharing options...
Tugger Posted July 23, 2005 Share Posted July 23, 2005 Why would they earn money for the Treasury? Presumably they can't print any more than Westminster allows them to Link to comment Share on other sites More sharing options...
Amadeus Posted July 23, 2005 Share Posted July 23, 2005 It made my life so much easier when working in Europe, having the same currency between the different countries it used to be ridiculous the amount of small change you would end up with converting pounds to marks, then to lira, then to guilders before tyring to change what you had left back to pounds on the trip home.<{POST_SNAPBACK}> You might have had a bit of change in your pocket after the trip, but at least with the D-Mark in place, I was still the King on holiday - pound sterling in your pocket at an exchange rate of £ 1.00 = DM 3.25 was shopping heaven... With the euro now in place, that's all pretty much gone - Europe and not having become more expensive since the Euro? My ar.... And if we get that play money over here, then people won't be able to sell five 5p coins for $5 on Ebay anymore - an economic disaster.. Link to comment Share on other sites More sharing options...
The Old Git Posted July 23, 2005 Share Posted July 23, 2005 Using only English notes would be the equivelant of giving the UK treasury a free loan to the value of all the manx notes in circulation. It would be interesting, although rather chaotic, if we floated the Manx pound against the UK pound. Given the current levels of growth of both economies, etc., do you think it would be worth more? Link to comment Share on other sites More sharing options...
simon Posted July 23, 2005 Share Posted July 23, 2005 Using only English notes would be the equivelant of giving the UK treasury a free loan to the value of all the manx notes in circulation Could you possibly explain that, in easy to understand words. Please I think I can almost grasp what you're saying. I keep nearly getting it, I think. But I'm confused by the fact that Manx notes are actually legal tender in Britain. They are actually Sterling. Not just Sterling equivalent. Just like the notes from Scotland, Northern Ireland etc (which are issued by PLC banks IIRC). Would abolishing the Scottish and Northern banks notes have a similar effect in those jurisdictions? And does it mean that (equally) UK notes in circulation on the IOM represent the equivalent of a free loan from the UK Treasury? PS - who guarantees the Manx notes? The IOM Govt or the BOE? Link to comment Share on other sites More sharing options...
Brad_Naylor Posted July 23, 2005 Share Posted July 23, 2005 It’s kinda silly really how you “could” pay for something in a UK shop with Manx money, because when they take it to the bank with the rest of their takings it will be honoured, pound for pound, so what’s the problem? Link to comment Share on other sites More sharing options...
The Old Git Posted July 23, 2005 Share Posted July 23, 2005 Using only English notes would be the equivelant of giving the UK treasury a free loan to the value of all the manx notes in circulation Could you possibly explain that, in easy to understand words. Please I think I can almost grasp what you're saying. I keep nearly getting it, I think. A banker friend explained it to me several years ago. He's also explained it a few times since when I've asked him, because, like you, I almost grasp it, have a brief moment of "Aha!" and then it goes again PS - who guarantees the Manx notes? The IOM Govt or the BOE? I think the IOM Govt underwrite the notes. The notes themselves are basically worthless bits of paper with numbers on them. The governenmt don't give the note away for free though, they sell or loan them to us through the banks, which I think is part of the assertion that the government get a free loan of the value of that money issued. Link to comment Share on other sites More sharing options...
kellyiom Posted July 24, 2005 Share Posted July 24, 2005 the IoM would probably have a stronger currency than the pound, all things considered as we have higher inflation which would mean a domestic higher base rate of interest. Keep the paper pounds manx! It's right as well about it being a free loan to the english treasury, we should all spend the manxies instead of the english ones.... Link to comment Share on other sites More sharing options...
Survivor Posted July 24, 2005 Share Posted July 24, 2005 but can't we just have manx pound coins? do we really have to have the notes? i find them irritating, i always think i have more money than I do - the same goes for America - and that's even the same darn colour as the rest of the stupid things! Link to comment Share on other sites More sharing options...
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