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What is "remainder" banknote?


yozhic_bg
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caledonian11891.jpg

 

Remainders are just that, they are notes that were printed but never used. Usually they were printed with the design etc, and the serials, dates, signatures etc were written in or printed on later. For whatever reason, some notes were not used by banks, or governments. In this particular instance this note was in a sheet of eight printed and held by the Caledonian Banking Company but never used by the bank. These remainders were discovered in the early 1980's, the sheet was cut, because the individual notes are worth more than the sheet. Caledonian Banking Company was bought out by Bank of Scotland in 1907, rendering previous Caledonian notes obsolete and the Bank of Scotland wouldn't have recirculated older Caledonian notes anyway.

 

In another instance where lots of remainders are present:

 

czech10001934.jpg

 

For some curious reason the Czech National Bank had huge stocks of currency printed much of which would be rendered valueless before it ever had a chance to circulate. Mostly this had to do with the dismemberment of Czechoslovakia at the hands of the Germans in 1938-9 and some of these unused notes were overprinted by the new authorities in Bohemia-Moravia and the Slovak Republic for an interim currency until they had new design notes printed in Germany. That still left large stocks of currency which were discovered by the Czech authorities in 1945, and these older notes were punch cancelled as "Specimen" and distributed to the collecting community.

 

Sometimes political reasons intervened in a currency not being released for circulation:

 

czech11946.jpg

 

This note is slightly updated from a 1938 rendering that never was circulated because of the German takeover of Czechoslovakia, this note, printed in 1946 would end up not being released due to purely political reasons. Notice the Phrygian cap on the young lady, a Phrygian cap is a symbol of freedom. A symbol that the communist authorities in Czechoslovakia took exception to, and the notes were never used. Most were punch out cancelled with "Specimen" but fortunately a good number survived without the cancellation because the note was never legalised for actual usage so it didn't matter anyway.

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  • 2 months later...
What happens to these notes when its decided that they won't be used?? Do they all get destroyed (apart from the ones that survive obviously) or are they just filed away for the future??

 

Thanks in advance for any other information you may have for me :ninja:

 

 

Many get destroyed, but some for whatever reason get saved, notice the Czech notes above, they were released into the collecting community by the Czech National Bank in the 1960's - but were most often punch cancelled with SPECIMEN. In the case of the Caledonian Banking Company, it was just a sheet of eight notes that were archived by the bank, then it's successor bank, Bank of Scotland, and released into the collecting community during the 1970's.

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