What is a Local Banknote in numista terms?

A simple question. Or maybe not so simple.

My understanding is that a 'Local Banknote' is a note which is only payable at the bank of issue or by the organisation of issue, and which would be refused for exchange or lodgement at branches of other banks, or at businesses outside of its area of issue. 

By these constraints, a local banknote would effectively not circulate outside its area of issue.

Thought and opinions?

A local banknote can also apply to community currency notes such as Austrian & German Notgeld notes.

Aidan.

@BC.

Yes, indeed. There were lots of those.

There is also some community currency notes listed under ‘France’ that have been uploaded - denominated in neither Francs nor Euros.

Aidan.

I can't wait to see the Numista team members answer on this one. I'm kind of in between two answer on this for Canada.

The Bank of Canada was created by the Canadian government in 1935. How do I categorize the Chartered Bank Notes before and after this date ? Local or else ?

Céline F.

Yes. We have a test case underway!

Big Mac

I can't wait to see the Numista team members answer on this one. I'm kind of in between two answer on this for Canada.

 

The Bank of Canada was created by the Canadian government in 1935. How do I categorize the Chartered Bank Notes before and after this date ? Local or else ?

 

Céline F.

Some of the chartered bank notes circulated throughout Canada, Celine.

Others circulated within only 1 colony prior to 1867 or within 1 province after 1867.

Aidan.

We, in the UK, also at one time, not too long ago had “local banknotes”. As you can see in the link below, a few cities in the UK issued them, and today, they are much sought after by collectors. I actually own four of these as issued in Bristol. They were recognised by many shops within Bristol, but not all. They are no longer used as local currency

https://colnect.com/en/banknotes/list/country/364-Fantasy_Issues/series/255400-British_Local_Currency

There are issuing cities not listed on the above link, but apart from the four I have, I have seen no others from Bristol or other issuing city.

COINMAN1

We, in the UK, also at one time, not too long ago had “local banknotes”.

What is a local banknote, and what is a trade voucher?

Colnect lists them as fantasy notes, Numista as Trade vouchers, they could only be use at ‘participating’ retailers and most had expiry dates.

Are they local banknotes or vouchers?

I believe you can call them whatever you like. They might be listed separately from banknotes in Fantasy or as Trade notes, but as they could actually be spent in the city in which they were printed for, just like Notgeld from Germany and Austria amongst others, then personally, I class them as banknotes.

If other collectors want to call them something else, then that's fine by me.

I prefer these as banknotes as lately we have a massive influx of “banknotes” with a valuation of €0, which in my opinion is garbage, but, many other collectors love them.

We are all individuals, with individual ideas, and in my opinion that's what makes us human

COINMAN1

…as they could actually be spent in the city in which they were printed for, just like Notgeld from Germany and Austria amongst others, then personally, I class them as banknotes.

 

I prefer these as banknotes as lately we have a massive influx of “banknotes” with a valuation of €0, which in my opinion is garbage, but, many other collectors love them.

I agree with both of these points.

Hibernia

COINMAN1

…as they could actually be spent in the city in which they were printed for, just like Notgeld from Germany and Austria amongst others, then personally, I class them as banknotes.

 

I prefer these as banknotes as lately we have a massive influx of “banknotes” with a valuation of €0, which in my opinion is garbage, but, many other collectors love them.

I agree with both of these points.

Thank you for your comments. I have over 2,300 German Notgeld, and 140 Austrian Notgeld, and due to the colours, scenes and many other stories depicted on them, I really love them. My strangest denominations are 99, 199 & 299 Pfennig from the same issuer.

Sorry to bore everyone, but could talk about them for hours. Strange thing is, that I have only obtained 4 from the UK where I live.

Rant over.

Hibernia

A simple question. Or maybe not so simple.

 

My understanding is that a 'Local Banknote' is a note which is only payable at the bank of issue or by the organisation of issue, and which would be refused for exchange or lodgement at branches of other banks, or at businesses outside of its area of issue. 

By these constraints, a local banknote would effectively not circulate outside its area of issue.

 

Thought and opinions?

I've explained here why I think “local banknote” doesn't make sense:

https://en.numista.com/forum/topic104777.html

I believe that new types of notes were agreed by the admins at one point, as I've suggested in the thread above, and this is reflected in the guidelines:

https://en.numista.com/catalogue/contributions/instructions.php#banknote_type

But it's been a year since, so it's hard to say what they intend to do now. But clearly either the types need to be updated or the guidelines changed.

Yes, indeed it seems that there is some inconsistency between the classification of coins and banknotes. 

For example this coin:

N#69846

and this banknote:

N#303534

Both belong to the same Municipality (Olot, Catalonia, Spain) and to the same period (Notgeld, Spanish Civil War), but the coin is considered "Standard circulation coin" and the banknote "Local banknote". It seems that the logical thing would be that they had the same classification, don't you think?

oynbcn

Both belong to the same Municipality (Olot, Catalonia, Spain) and to the same period (Notgeld, Spanish Civil War), but the coin is considered "Standard circulation coin" and the banknote "Local banknote". It seems that the logical thing would be that they had the same classification, don't you think?

Yes, I totally agree! And I've been asking for this for more than a year I think

Imo, a Local currency is one that is exchangeable only within its local area of issue. Irish Limerick soviet notes are an example:

https://www.irishpapermoney.com/limerick-soviet-notes-1919.html

N#311377

These were only exchangeable in their area of issue.

Hibernia

Imo, a Local currency is one that is exchangeable only within its local area of issue. Irish Limerick soviet notes are an example:

https://www.irishpapermoney.com/limerick-soviet-notes-1919.html

N#311377

 

These were only exchangeable in their area of issue.

So were these;

https://www.saiocht.ie/ .

Aidan.