Note & Coin Liability

[ady]

Are coins issued by the treasury? and notes by the banks? If so as a SHTF scenario, would I be better holding coin after gold and silver rather than notes. India called in high value bank note some years ago which showed how holding "cash" might not be such a good idea.

[LawrenceChard]

19 minutes ago, ady said:

Are coins issued by the treasury? and notes by the banks? If so as a SHTF scenario, would I be better holding coin after gold and silver rather than notes. India called in high value bank note some years ago which showed how holding "cash" might not be such a good idea.

In the UK, coins are issued by the Royal Mint to banks and post offices on behalf of the Treasury.

Banknotes are issued by the Bank of England.

There would by little advantage holding base metal coins compared with banknotes. Coins and banknotes are both examples of cash.

 

[dicker]

19 hours ago, ady said:

Are coins issued by the treasury? and notes by the banks? If so as a SHTF scenario, would I be better holding coin after gold and silver rather than notes. India called in high value bank note some years ago which showed how holding "cash" might not be such a good idea.

India withdrew the 500 and 1000 rupee notes in 2016, re-issuing a new style 500.  This was supposed to get cash back into banks to deter money laundering etc.  I don't know how well it worked.  But you could still buy items with a 500 note but shops valued it at around 350!  I guess they had some way of disposing of them.

Best

Dicker

[GoldDiggerDave]

Not all cash is equal, it might be worth holding some dollars, if you look at what happened in Beirut, Turkey now Russia if you hold dollars you are better off.