Would You Want A Giant Or Titan?
By JENNY ARCHER
@bookbar (1609)
Sudbury, England
November 18, 2015 10:14am CST
As you see from the pic.these are Huge denomination Sterling banknotes, of £1million and £100,000000.... Giant and Titan respectively.
I doubt you will find any in granny's attic, as they are normally kept for interbank transactions, and both play a vital role in the British currency system, by backing the value of the everyday notes issued by commercial banks in Scotland and Northern Ireland.
Victoria Cleland, head of notes at the Bank of England.says," it's much more efficient than having thousands of cages of Bank of England notes stored around the country. In a turbulent financial era, this backing matters more than ever."
Very occasionally, older £1m notes have escaped from the Bank of England's vaults and archives.
So best keep your eyes open... but not for the ones sold on Ebay!
5 people like this
6 responses
@Asylum (47893)
• Manchester, England
18 Nov 15
I knew that a few had been printed for internal use, although I had no knowledge of any actually appearing outside the Bank of England.
Of course this is perfectly feasible because I do know that the 3D coin of 1937 has been found in circulation during our days of LSD, despite it only ever having been minted for die testing purposes.
1 person likes this
@Asylum (47893)
• Manchester, England
18 Nov 15
@bookbar A £1 million Bank of England note would demand a ridiculous price on the open market.
Most countries issue new format banknotes and then only accept the older ones for a specified period of time, after which they become worthless pieces of paper. The Bank of England is the only banknote issuing authority that I know of that will always honour a bank note of theirs irrespective of the age. Therefore any such banknote will always demand a higher price than the face value.
2 people like this
@Orson_Kart (8261)
• United Kingdom
18 Nov 15
@Asylum Surely a £1 million bank note is worth exactly £1 million? 
1 person likes this
@ElizabethWallace (12069)
• United States
18 Nov 15
Silly in these days of electronic transfers.
1 person likes this
@bookbar (1609)
• Sudbury, England
18 Nov 15
@ElizabethWallace @Orson_Kart Even Virtual money has to be backed by Gold or Sterling... so nothing silly about owning such a note, however old, as the Bank of England will always honour it... as it says on the note "I promise to pay the bearer"...
and face value is nothing to do with it's value to a collector,to whom it would be almost priceless, as few ever escape from the bank vaults...they definitely are,.. as rare as Hens teeth and Orson Kart, if in doubt,go check wikipedia, I'm sure you will find a reference to it, somewhere there..
1 person likes this
@ElizabethWallace (12069)
• United States
18 Nov 15
@bookbar Ok. Backed by gold or silver I understand, but backed by another piece of paper? So illogical, but then all money is based on perceived values, even gold.
1 person likes this
@Orson_Kart (8261)
• United Kingdom
18 Nov 15
I think you are making this up. 
I've not heard of anything over £50 and they aren't common either. Bank transfers are virtual these days, surely. 
I've not heard of anything over £50 and they aren't common either. Bank transfers are virtual these days, surely. 
