Britain's Giants and Titans

A while ago I wrote a post about the large denomination notes from the USA. They go all the way up to the infamous 100.000 dollar banknote with president Woodrow Wilson at the front. It turns out that Great Britain also has a few banknotes with very high denominations. 

This article on the BBC website describes the two denominations. One is a note of 1 million pounds known as a 'giant'. But even this expensive piece of paper pales in comparison to the one they call the 'titan': a banknote worth 100 million pound.

They are of course useless if you would want to spend them in a supermarket. They serve as backup for the Scottish and Irish banks who issue their own money. People using these banknotes would know their money is always backed by these giants and titans should the local bank fail.

More info on this fascinating story at the BBC website.

Steven Monday 28 January 2013 at 1:15 pm | | links
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