Guess the country in which three local banks issued national currency banknotes. And so that the currency has circulation only in this country, and nowhere else. And it would be, in general, not very illegal. That's right, it's Scotland.
It's not easy here
With Scotland, everything is not easy, and with money in the form of local Scottish pounds as well. Let's get it right. Scotland is part of the UK - this time. Her official currency - British pounds - is two.
With metal coins, everything is in order - they are exactly the same. They are minted in one place - at the Bank of England. But with banknotes, it’s just trouble. Not only that, besides the generally accepted British ones, local Scottish people go here, their design is also the most diverse: from color to plots in pictures.
Judge for yourself, there are a total of 294 types of Scottish pound banknotes in the execution of three banks with different color options and denominations.
Most interestingly, all Scottish banks have the right to print Scottish pound banknotes. Just three financial institutions simply agree to do this: the Bank of Scotland, which has been doing this since 1695, the Royal Bank of Scotland and Clydesdale Bank.
Scotland's history of money
Whom did the proud Scots not seal on their money! They have long understood that this is a great way to promote monuments of architecture and history, and we can’t even talk about national heroes of various kinds. And no British royal persons, except in rare cases: for example, a portrait of Elizabeth II is placed on several banknotes with different denominations.
It's all about politics. Scotland has never been and is not going to be an ordinary administrative region of many in the Kingdom of Great Britain. And the Scottish pounds as their own currency were introduced a very long time ago - in the XVII century, despite the fact that the named region does not have the status of a state.
Before, the Scots even minted their coins. It was under King David in the XII century. At first, the test was real sterling: the weight and dimensions of the coins fully corresponded to English coins, and the face value was 20 shillings and 240 pence.
Then the sample began to decline, and with it the price of the Scottish pound began to change. By the time the country was unified in 1707, it began to cost 12 times cheaper than English. But in connection with the formation of a single state, the Scottish currency was permanently withdrawn from circulation.
Banknotes and heroes
If the maximum face value of the British pound is £ 50, then the largest Scottish bill is £ 100.
It is also notable for the fact that it printed a portrait of Walter Scott, who is well known to adventure literature lovers. But he was placed there not for fascinating adventures, but for the fact that he fought long and hard against the English government. And the main topic of his struggle was just the British financial claims to the Scots.
For information, one of the most popular banknotes is 10 Scottish pounds at face value. Her dimensions are 142 x 75 mm, the color is purple and orange with images of Elizabeth II and Charles Darwin.
The color of banknotes can only be in three versions: brown, olive, green. The colors, I must say, are not the most fun, but the overall design is mostly stylish and elegant.
The Scottish pound exchange rate is floating, it must always be specified, despite the fact that officially it is not a convertible currency and can not be used outside the UK.
About rights and laws
By law, everything would be wonderful: Scottish pounds should be accepted everywhere throughout England, just as British pounds should be freely consumed in Scotland. In fact, this is not entirely true. There are no problems with British pounds. But the Scottish pound may take, or may not take in the parent UK. You can, of course, begin to insist and invoke the law. And you can preoccupy yourself with the exchange, because they do not change anywhere else, except in the UK.
Tips experienced
The best option would simply not be to take Scottish pounds at exchange offices, but to ask for English. Usually such a request is fulfilled - there is enough English money in any Scottish bank or exchange office.
At face value, the Scottish pound is equal to the British. And its exchange rate to the Russian ruble is similar to the British pound.
As for the question of where to change the Scottish pounds, the answer to it will be unequivocal: it is best in Scotland. It is less desirable, but entirely acceptable, to do so in the UK, but in no way outside the United Kingdom.
Scottish pound in the light of national independence
Own full-fledged currency, which will have to be introduced in a new format, is one of the most controversial and difficult steps for a new independent Scotland if this suddenly happens.
This issue was seriously dealt with by the best financial experts of the world level. Most of them are inclined to believe that in the event of new conditions of independence, Scotland will be forced to revise social spending in the direction of their reduction, including one of the most unpopular steps in the form of raising the retirement age. And the numerous promises to which generous politicians are proponents of independence will also have to be revised.
It should be noted that during the referendum, as well as other events related to the withdrawal of Scotland from the United Kingdom, the Scottish pound depreciates dramatically. Financial markets prefer certainty anywhere, including in the political landscape in the UK.
It seems that the issue of independence has been postponed for some time. So, we can hope that this will bring the Scottish pound health and longevity.