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Lewes pound makes money online (From The Argus)
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Lewes pound makes money online
12:20pm Tuesday 16th September 2008
A town's currency has shot up in value by 3,000% only days after its launch because collectors are selling it on the internet.
Yesterday bids for one Lewes Pound on auction site eBay had reached £30.
The group behind the scheme has criticised those selling the currency online.
Oliver Dudok van Heel, of the Lewes Pound Group, said the group was looking at selling the notes directly to collectors through its website at between £3 and £5.
He said: “It’s outrageous. People are abusing the system and taking advantage.
“We are going to tackle this problem by selling the notes at a premium with an official letter to try and stop them going on eBay.
“There is nothing illegal about selling them on eBay but it’s not in the spirit of things.
“If you spend them in town it increases the worth of the local economy.
“People holding on to them and wanting to send them to friends is understandable but to try and sell them on eBay is opting out of the Lewes economy.”
Collector Steve Hughes, owner of the Brighton Coin Company, said: “The supply of the note is limited, so if it does catch on as a unique collectors’ item it will be a scarce item.
“There won’t be that many available so that’s the basis of the price.
“You cannot predict what things will be popular and which won’t.
“I’ll suggest that this won’t be, after an initial blip. I can’t really see there is going to be a collectors’ fraternity for such a limited item.
“Things cannot be too rare in terms of demand because if they are then collectors cannot buy any to support the price.
“Quite often when something new comes on to the market there is a little blip but then it evens off.”
Except for 500 reserve notes, all 10,000 Lewes Pound notes were sold in two days.
They are designed to keep wealth in the town as more than 70 Lewes traders accept the note.
Mr Dudok van Heel added more will be issued in the future.
What do you think about the eBay sale of the notes? Comment below.
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Your Say YourArgus
NoWay, Brighton says...
2:49pm Tue 16 Sep 08
Pontop Pike, Redhill says...
3:13pm Tue 16 Sep 08
“We are going to tackle this problem by selling the notes at a premium with an official letter to try and stop them going on eBay.
GET BENT!
I think its great that people have make a few quid out of this toy town "poppy" it show it for what it is, a bit of a joke!
Those planks who invented it should have seen this coming and stop bleating!
Charismatic Andrew, Patcham says...
3:28pm Tue 16 Sep 08
Mind you she did charge me £100 (after being so cruelly sacked by Countdown).
She also wants to be paid in Lewes Pounds. She's a smart cookie that Vorderman. (and she's a hottie).
feline1, Brighton says...
3:41pm Tue 16 Sep 08
Wivvy Dave , Wivelsfield says...
6:04pm Tue 16 Sep 08
I also note that some of those for sale on ebay are being sold from way out of town (and county in some cases). again the local economy seems to have benefited from a tourist looking to make a bob or two. Keep it up.
esh lad, Brighton says...
7:33pm Tue 16 Sep 08
Everest, Southwick says...
10:31pm Tue 16 Sep 08
Wivvy Dave wrote:You can sell it for £0 if you like. Where will you get the £29 though?
So I go into Lewes and buy a note for a pound. Sellit for £0 and spend the £29 in the local pub celebrating. looks like the Lewes economy is doing OK out of this. I also note that some of those for sale on ebay are being sold from way out of town (and county in some cases). again the local economy seems to have benefited from a tourist looking to make a bob or two. Keep it up.
Pontop Pike, Redhill says...
9:49am Wed 17 Sep 08
esh lad wrote:Your powers of observation astound me Mr Bond!
Does Pontop Pike originate from Durham?
Your sayYour Argus
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feline1, Brighton says...
12:48pm Tue 16 Sep 08
FAIL