What does a hundred million pound note look like?
Howard Lake | 17 April 2017 | Blogs
Here’s a treat for a Bank Holiday Monday – a £100 million note. And it is genuine.
That’s the good news. The bad news is that you’re very unlikely to see it as it is kept permanently within the vaults of the Bank of England.
Cash of the Titan
The note is a Titan. Its role is to underpin the value of standard bank notes issued by commercial banks in Scotland and Northern Ireland. These banks deposit an equivalent amount in sterling with the Bank of England for each of their own notes that they prints. As a result, were any of the banks to collapse, the value of their banknotes would be retained, guaranteed by the Bank of England.
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To maintain security Titans and their £1 million cousin Giants are printed internally, rather than being printed by an external company.
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Main image: ‘Titan’ note, held in the BoE vaults, worth £100 million by Bank of England on Flickr.com
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.