Isle of Wight Council resumes sale of Ecu-style tokens despite Treasury ban

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The Independent Online
In defiance of a Treasury ban, the Isle of Wight Council has decided to resume the sale of Ecu-style tokens. The council hopes it can persuade the Treasury to drop its legal objections to the tokens, which have been said to contravene currency legislation. The council says it will resume sales from Saturday, but each token will now carry a sticker stressing they are not coinage and cannot be exchanged for goods.

The council had sold around 4,000 of the crown-sized tokens at its various outlets and allowed them to be exchanged for goods. Despite a Treasury ban from mid-July, the council said it decided on the new move following legal advice. Managing director of business services, Mike Fisher, said that they hoped to convince the Treasury that the sales were a harmless initiative aimed at promoting Island tourism and raising money for charity.