Exeter (UK) reveals its own local currency

The full set of Exeter Pound notes have been revealed as the countdown continues to the local currency’s launch in September.

Those behind the scheme are looking forward to taking delivery of the notes, which are being printed by specialist firm Orion in Derby.

Among them is a limited edition £E15 souvenir note commemorating the city’s hosting of Rugby World Cup games, featuring Exeter Chiefs and England star Jack Nowell, which will be available for just three months.

Each of the notes – chosen after a design competition involving people who live, work or study in Exeter – can be spent in a variety of independent businesses in the city which have signed up to the scheme.

They will also be accepted by the city council as payment for bills and charges.

And there is still time for traders to get involved before the local currency is launched on Cathedral Green at 11am on Tuesday, September 1.

Shoppers will be able to swap their sterling for Exeter Pound notes at four exchange points; the Tourist Information Centres in Dix’s Field and at the Custom House on the Quay, Sancho’s Dress in Fore Street, and the Exeter Phoenix.

The notes will come with a number of security features to guard against forgery.

They are printed on tear resistant security watermark paper with a distinct diamond pattern and invisible red and blue UV fibres incorporated into the paper.

Each note value is printed with a full colour design and special fluorescent colour which glows brightly under UV light.

And each denomination of note has a unique hologram shape: a giraffe on the £E1, a football on the £E5, a phoenix on the £E10, a rugby ball on the £E15 and a tree on the £E20.

The phoenix on the £E5 is on the front of Exeter Phoenix and the horse chestnut on £E20 is on Cathedral Green, while the giraffe represents Gerald, one of the most popular exhibits at the Royal Albert Memorial Museum.

Exeter Pound project worker Ian Martin said: "We are signing up several businesses a day at the moment and we’re confident that we’ll have 100 Exeter businesses on board by launch day."

"The paper notes, which will each have eight security markers including gold foil, feature Exeter people and places, past and present, real and imaginary, and were created using the talent of local artists. They will be in circulation for three years."

"People can have a look at the notes which will be going on display at the Royal Albert Memorial Museum in Exeter from early August."

Mr Martin added: "There are several elements to the scheme. One is to keep more money within the Exeter economy. If people spend money in a local independent business, £1.73 comes back into the local economy. But for every £1 spent in a multiple shop, only 35p comes back."

"By spending Exeter Pounds, instead of profits leaving the city, more money will circulate in Exeter."