Old Tristan Bank Notes cashed at the Bank of England
Dogged determination for dog-eared island banknotes
Report and Photo from Tristan da Cunha Government UK Representative Chris Carnegy
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People can easily forget the countless challenges that extreme remoteness will bring. Here’s one example: with no commercial bank, how does Tristan ensure that the cash notes in circulation on the island are up to date? The answer is that a variety of informal systems are used to exchange banknotes, and in November 2017 that included me. I formally presented a stock of old notes for deposit in the island’s UK bank facility. But notes worth in total £100 were rejected as being too damaged, after a lifetime in circulation on the island. I love a challenge, so I tracked down the ‘last resort’ bank counter at the Bank of England, and took the ragged notes there. I wasn’t expecting to be greeted by a friendly doorman in pink tailcoat and top hat! The helpful Bank staff rapidly swapped the dog-eared notes for crisp new currency to swell the island’s coffers. All part of the day’s work! |
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Photo shows Chris with the dog-eared notes with the friendly doorman at the Bank of England. |