The money supply
The other day I
mentioned the Royal Bank's special Jack Nicklaus five-pound notes. My wife and I each bought ten of the notes when we were at St Andrews on Friday. The notes were on sale at par (how appropriate!) and each person was limited to a maximum of ten notes. Apparently, the Royal ran out of Nicklaus notes quite early on the Thursday and new stocks were rushed to the course.
There seems to be a large market for these notes on eBay. I noticed one bid for five notes at £102 - a profit of more than 300% for the seller. I can't remember this sort of thing being covered by Mises or Rothbard in their writings on matters monetary.
posted by David Farrer at 16:33
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