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<p>[QUOTE=&quot;scottishmoney, post: 2673815, member: 12789&quot;]The banks started getting too many and they were the ones that contacted the BRM who told them to stop taking them.</p><p><br /></p><p><br /></p><p><br /></p><p>It is the same with the BEP and the Federal Reserve.&nbsp; With coins the net result is a profit for the mint/government called seignorage.&nbsp; With paper money it is 1:1.&nbsp; I&#039;m not sure how it works with the BRM and the Bank of England.&nbsp; Bank of England was a private corporation until it was nationalised in 1946 - but it has acted as the central bank in England from it&#039;s formation in 1694.&nbsp; The Bank of England prints it&#039;s own notes, so within England it is a 1:1 thing.&nbsp; But Scots and N. Ireland banks still issue their own paper/polymer money and they have to have the amount of issue on account with the Bank of England as a guarantee.</p><p><br /></p><p>Both Canada and Britain really blew it with those higher value, low melt value coins that cannot be redeemed now.&nbsp; I still get the RCM emails about these coins so obviously they are still selling them to fools, but probably nowhere near as many as they used to.[/QUOTE]</p><p><br /></p>

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