What is the purpose of having Scotish, English, Guernsey, Jersey, Isle of Man pounds
What is the purpose of having a Scotish, English, Guernsey, Jersey, Isle of Man pounds instead of a unified United Kingdom of Great Britain and Northern Ireland and Crown Dependencies Pound or one set of notes that list all of the countries.
I already know most can be used in the other country but whats point of having a different set of notes printed for each country and not just single set
The answer is in the history of the banking system, and national identities.
They are all the same currency, Sterling. All notes are legal currency in each of the countries. However only Bank of England issued notes are legal TENDER in England.
Scottish notes are not legal tender in England, but they are legal currency. Legal tender is an archaic law that means noone can be forced to accept it as payment.
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