Sunday 17 July 2005

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.

1 comment:

David Farrer said...

Comments made on previous template:

Neil Craig
Banking is clearly more profitable than selling ancient rope.
21 July 2005, 09:51:34 GMT+01:00 – Like – Reply

David Farrer
I might be willing to part with one of them in exchange for a house in Heriot Row. :lol:
18 July 2005, 06:58:19 GMT+01:00 – Like – Reply

Bill (Scotland)
I am assuming you and your wife bought these notes as a 'nest egg' for your futures - sound investment
17 July 2005, 23:21:40 GMT+01:00