The value of the Scottish banknotes in circulation in 2013 was £3.8 billion, underwritten by the Bank of England.
The value of euro banknotes in circulation and the market for euro-denominated securities already rival the dollar, a long-established currency backed by a single nation-state.For economists such as Robert Mundell and others, who saw huge benefits in shared currencies but had despaired of politicians giving up monetary control, the euro is an exciting experiment.
The ECB issues 8% of the total value of banknotes issued by the Eurosystem.
THE euro, despite its current travails, is the world's most abundant currency when measured by the value of its banknotes and coins in circulation, according to the Bank for International Settlements BISS).
The price and value of a Zimbabwean banknote depend on various factors: the rarity, based on factors such as the name of capital city, how long it was printed, or the type of watermark; its condition, and the national situation at time of issue, such as shortages or hyperinflation.
The euro is the second largest reserve currency as well as the second most traded currency in the world after the United States dollar., with more than €995 billion in circulation, the euro has the highest combined value of banknotes and coins in circulation in the world, having surpassed the U.S. dollar.
But even the monetary value of the giant is relatively small compared to the "titan" - a banknote that promises to pay its bearer £100m.
The weakness of the Swiss franc at the foreign exchange market and the associated loss of monetary metal and increasing costs of banknote issue led to a decline of the banknote share to 19% in 1906.
Also, since the banknotes were thin, the green on the back did not show through and muddle the pictures on the front of the banknote.
