Big boost for Lewes Pound (From The Argus)

Big boost for Lewes Pound

4:50pm Wednesday 8th October 2008 in

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A town has printed 10,000 more notes of its own currency after demand outstripped supply.

From last month, shoppers in Lewes have been able to exchange sterling for the special Lewes pound notes to spend in the town.

More than 100 traders have agreed to accept the Lewes pound, including the town’s branch of Barclays.

The currency’s promoters hope it will help businesses in Lewes by encouraging people to shop locally.

But within days, collectors began selling the notes on the internet and bids for one Lewes Pound on auction site eBay reached almost £30.

Now more than 10,000 extra notes have been printed.

Oliver Dudok van Heel, from Transition Town Lewes, said: “The notes are now available at the town’s three issuing points.

“We hope there is enough to encourage people to start trading with them and to stop selling them on eBay or holding on to them.”

The currency features revolutionary author and one-time Lewes resident Thomas Paine and is available from Lewes Town Hall, Mays General Stores and Richard’s Butchers.

Lewes Mayor Michael Chartier, who launched the notes last month, urged people to spend rather than keep the currency.

He said: “Two shops in Lewes have closed in the past fortnight and that is something we don’t want to see.

“It is difficult to say whether the Lewes pound can help support the local economy in these difficult times but it certainly cannot do any harm.

“Hopefully now the initial fervour has calmed down we won’t see people selling them online. I appreciate people may want to keep a note but I urge them to get spending.”

Yesterday some Lewes Pound notes were still selling for a premium on eBay.

But 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 collector’s item it will be a scarce item.”