Hacker News Reader

For UK it's 4% physical banknotes/coins [1]. I would assume it's about the same for all developed countries. Which is why sometimes "ATMs ran out of money" if there is a mismatch between physical demand and supply.

[1] https://www.bankofengland.co.uk/knowledgebank/what-is-money

View on HN

Thanks! I think they didn't bother to say 4% of what. From what I can gather by comparing numbers it's 4% of M1.

I think I found some kind of source data about this.

https://www.bankofengland.co.uk/boeapps/database/fromshowcol...

If I divide sum of all but the last column by sum of all columns I get (notes&coin)/M0

That's what I was after. Apparently it's around 10%. So only 10% of the most core money has physical form. The rest is just numbers in the computer.

Reply on news.ycombinator.com