Costly mistake with defective R100

[admin 3]

Costly mistake with defective R100 notes | News24

[Vinyl Lady Decals 11]

Ouch, now that's a real waste of money. I don't understand why these things aren't checked before they are printed and not after.

[MiemsJewels 12]

And who's gonna pay for the mishap........Poor taxpayers........:mad:

[lilythepink 11]

But I thought we are supposed to be Proudly South Africa. Remember the hooha about the Chinese making rugby/soccer regalia? Why does the Reserve Bank have Sweden making our banknotes?

[Jongleur 10]

But I thought we are supposed to be Proudly South Africa. Remember the hooha about the Chinese making rugby/soccer regalia? Why does the Reserve Bank have Sweden making our banknotes?

 

Because our mint cant be trusted ?

[lilythepink 11]

Well said, Len. Well said.

[ATA STAMP CENTRE 49]

Well said, Len. Well said.

I would hazard a guess that a few of those defective notes will end up for sale on BOB sometime??

neil

[Cold Sea 1]

I would hazard a guess that a few of those defective notes will end up for sale on BOB sometime??

neil

 

Hi Neil

 

A spokesperson from the Mint assured a Cape Talk presenter today that no defective R100 notes were in circulation. He would not even discuss whether the current notes are minted in Sweden, which is understandable.

 

In a different post I mentioned a R200 note that I received recently that lacks the UV mark. I am so sure this note is not a fake, (I am not trying to flog it here), but I think the quality control dept at the banknote company is absent.

 

I agree, these notes will most likely show up on BOB.

 

Derick

Edited May 21, 2012 by Cold Sea

[RISadler 10]

So what's the problem? Printing money these days is expensive, what with all the security features. So outsourcing the job to somebody who already has the machines makes financial sense. Sure, somebody gave the printers the wrong serial numbers ... but they did pick it up. The wrong colour ink and size difference ... probably someone at the printers (in Sweden). As to the "value" ... the value stated is that of the face-value of the notes, not the printing cost. (Just another example of how the media likes to give the wrong perception for added oomph! to a mediocre story.)