GB2522618A

GB2522618A - A bank note

Info

Publication number: GB2522618A
Application number: GB1401160.5A
Authority: GB
Inventors: Raymond Mcgovern
Original assignee: Individual
Current assignee: Individual
Priority date: 2014-01-23
Filing date: 2014-01-23
Publication date: 2015-08-05
Also published as: GB201401160D0

Abstract

A bank note 1 comprises a first substrate 3 and a metal layer 5 mounted on the first substrate 3. The metal layer 5 consists of a precious metal, preferably gold, silver or platinum. The amount of precious metal in the metal layer 5 will determine the value of the bank note. In this way, the bank note will act as its own gold standard. The metal layer 5 may be a continuous layer or a mesh. The metal layer 5 may be sandwiched between two layers (3, 13, Fig.2). By having such a bank note, there will be less scope for financial mismanagement by Governments and there will be the possibility of a more stable, robust economy.

Description

"A bank note"

Introduction

This invention relates to a bank note. More specifically, this invention relates to a bank note that has a substantial intrinsic value.

Up until the last century, many countries operated a gold standard as the basis of their monetary system. Generally speaking, in those monetary systems that operated a gold standard, the paper or representative currency that was in circulation was backed up, at least in part, by gold held in a reserve. However, gold standard based systems were abandoned in part due to the perception that the gold standard was too restrictive for modern economic policy requirements. In particular, it was believed that the gold standard inherently restricted growth in the economy and that economies operating according to a gold standard were unable to react quickly enough to adverse conditions in the global or local economy.

Other countries operated silver standard based systems as an alternative to gold standard systems and these silver standard based systems were deemed to suffer from the same shortcomings as the gold standard based systems. For reasons of simplicity, reference will be made solely to gold standard based systems for the remainder of the specification however it will be understood that the present invention also relates to systems with other commodities at their foundation.

As an alternative to gold standard systems, economies around the world migrated towards fiat money systems. Fiat money systems do not require the currency in circulation to be backed up by physical commodity reserves and provide far greater freedom to Governments to set fiscal policy. Effectively, in fiat money systems the Governments can print money to suit their particular agenda and requirements.

Unfortunately, as recent history in particular has shown us, reckless mismanagement of the economy by Governments operating within the flexible confines of fiat money systems has led to numerous financial crises around the World and global recession.

It is an object of the present invention to provide a bank note that overcomes at least some of the above-mentioned problems and that provides a useful alternative to the prevailing systems and methodologies.

Statements of Invention

According to the invention there is provided a bank note comprising a first substrate and a metal layer mounted on the first substrate, the metal layer consisting of a precious metal, the amount of precious metal in the metal layer determining the value of the bank note.

By having such a bank note, the bank note will effectively operate as its own gold standard. This has numerous advantages. First of all, by having such a bank note, Governments will no longer have the freedom or ability to print money if and when they choose. Instead, as a precious metal foirns an essential component of the bank note, it will be necessary for the Government to have the precious metal in order to print the bank note in the first place. This will lead to more cautious approach to fiscal policy.

Secondly, it is believed that such an approach will lead to long term price stability which will in turn result in a more stable economy. Thirdly, by having such a bank note, there will effectively be a gold standard in operation and this can lead to fixed exchange rates between countries, facilitating international trade. Fourth, by having a bank note with significant intrinsic value, the bank note will be more portable than was heretofore the case and may be used as acceptable legal tender in any country that operates using such a bank note. Fifth, the bearer of the bank note will have the peace of mind that the bank note itself has great intrinsic value that cannot be devalued in response to the whim of a Government or as a result of a global financial crises. Instead, it will retain its value. This is also of benefit to the banking institutions as they will no longer be as fearful of a run on their reserves in the event of an economic crises.

In one embodiment of the invention there is provided a bank note in which the precious metal is gold. Gold is seen as the preferred precious metal to use as even a small weight of gold has high value thereby leading to manageable currency. As an alternative to gold, the precious metal is silver. As a further alternative, the precious metal is platinum.

Indeed, it is envisaged that more than one precious metal may be used in conjunction with the bank note.

In one embodiment of the invention there is provided a bank note in which the first substrate comprises a polymer material. A polymer material is the preferred material for the first substrate as the polymer material will have better longevity and will be more robust than other materials that could be used. Furthermore, the polymer will provide a secure base for the precious metal. Alternatively, one or more of linen, cotton, abaca, textile fibres or a combination of two or more of these materials or a combination of one or more of these materials with a polymer could be used as a suitable substrate. A further advantage of the bank note according to the present invention is that there will be less return of damaged notes thereby leading to a saving in the replacement costs of damaged notes.

In one embodiment of the invention there is provided a bank note in which there is provided a second substrate and in which the metal layer is sand'Mched between the first substrate and the second substrate. By sandwiching the metal layer intermediate the first and second substrates, the metal layer will be offered greater protection from wear and tear.

In one embodiment of the invention there is provided a bank note in which the metal layer comprises a mesh.

In one embodiment of the invention there is provided a bank note in which the metal layer is a substantially continuous layer.

In one embodiment of the invention there is provided a bank note in which the metal layer covers the entire surface of one face of the first substrate.

In one embodiment of the invention there is provided a bank note in which the metal layer covers only portion of the first substrate.

In one embodiment of the invention there is provided a bank note in which the metal layer is dimensioned depending on the type of metal used to form the metal layer. In this way, the dimensions of the metal layer will be a clear indication of the kind of precious metal used in the metal layer which in turn may be used as an indicator of the value of the bank note. Different previous metals may be used for different values of the bank notes.

In one embodiment of the invention there is provided a bank note in which the metal layer is dimensioned depending on the amount of metal used to form the metal layer.

Ideally, there will be provided a plurality of different bank notes using the same precious metal but each having different values. The value of the bank note will depend at least in part on the amount of precious metal used in its formation. The dimensions of the metal layer can therefore be used to indicate the value of the bank note. For example, a rectangular shaped metal layer may indicate that 0.1 grammes of gold are in the metal layer whereas a circular-shaped metal layer may indicate that 0.2 grammes of gold are in the metal layer. Similarly, rather than using different shapes, the same shape in different sizes may be used to indicate clearly the amount of precious metal in the metal layer.

In one embodiment of the invention there is provided a bank note in which the metal layer comprises one or more strips of precious metal.

Detailed Description of the Invention

The invention will now be more clearly understood from the following description of some embodiments thereof given by way of example only with reference to the accompanying drawings, in which:-Figure 1 is an enlarged side view of a bank note according to the invention; Figure 2 is an enlarged side view of an alternative embodiment of bank note according to the invention; Figure 3 is a plan view of another alternative embodiment of bank note according to the present invention; and Figure 4 is a plan view of a further still embodiment of bank note according to the invention.

Referring to Figure 1, there is shown an enlarged side view of a bank note, indicated generally by the reference numeral 1, comprising a first substrate 3, in this instance provided by way of a polymer material, and a metal layer 5 consisting of a precious metal. The precious metal is coated in a continuous foil layer on one side of the first substrate. The view is enlarged to clearly show the components however it will be understood that the depth of the bank note will be equivalent to the bank notes currently on the market.

Referring to Figure 2, there is shown an alternative embodiment of bank note, indicated generally by the reference numeral 11, where like parts have been given the same reference numeral as before. The bank note 11 comprises, in addition to the first substrate 3 and the metal layerS, a second substrate 13 mounted on the opposite face of the metal layerS so that the metal layer 5 is sandwiched between the first and second substrates 3, 13. Again, the view of the bank note 11 is enlarged to clearly show the components of the bank note however it will be understood that the depth of the bank note will be equivalent to the bank notes currently on the market.

Referring to Figure 3, there is shown another alternative embodiment of bank note, indicated generally by the reference numeral 21, where like parts have been given the same reference numeral as before. The bank note 21 is similar to the bank note 1 shown in Figure 1 however instead of providing the precious metal in a continuous foil layer, the precious metal is provided in a mesh 23 structure mounted on one face of the first substrate 3. If desired, a second substrate (not shown) may be provided and if provided it could be positioned to encapsulate the mesh 23 between the second substrate and the first substrate 3. The mesh 23 may be contained entirely between the first and second substrates or may protrude through one or both of those substrates.

Referring to Figure 4, there is shown a fourth embodiment of bank note, indicated generally by the reference numeral 31, where like parts have been given the same reference numeral as before. The bank note 31 differs from the previous embodiments of bank notes 1, 11, 21 in that the metal layer of precious metal 33 is neither continuous not mesh-like but instead is elliptical in shape. The metal layer is mounted on one face of the first substrate 3 and another second substrate may be provided if desired as will be understood from the foregoing.

It will be understood that various modifications to the embodiments hereinbefore described may be made without departing from the spirit of the present invention. For example, the metal layer could be provided in other shapes other than continuous, elliptical or mesh shapes. For example, the metal layer could be rectangular, square, triangular or other shape deemed suitable for purpose. Indeed, different shapes or different sizes of the same or different shapes could be used to denote one or more of the amount of precious metal used in the construction of the bank note and or the type of precious metal used in the construction of the bank note. Indeed the metal layer could comprise a plurality of precious metal nanoparticles incorporated into the polymer substrate structure of the bank note or spluttered onto the surface of the polymer substrate.

Although a polymer material has been described for use in the construction of the bank note as the first and second substrates, it will be understood that different materials may be used for one or both of the substrates, as appropriate, or indeed a hybrid of polymer and another material may be used for one or both of the substrates. The substrates will preferably have indicia printed thereon and indeed it is envisaged that there will be one or more anti-counterfeit measures incorporated into the bank note including but not limited to watermarks, holograms, magnetic strips, UV markers, electromagnetic markers and the like.

In addition to the foregoing advantages, it is envisaged that the present invention may in itself provide a degree of anti-counterfeiting measure as it will be more expensive to manufacture counterfeit bank notes having a metal layer with a precious metal than the bank notes currently in circulation.

In this specification the terms "comprise, comprises, comprised and comprising" and the terms "include, includes, included and including" are all deemed totally interchangeable and should be afforded the widest possible interpretation.

The invention is in no way limited to the embodiments hereinbefore described but may be varied in both construction and detail within the scope of the appended claims.