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Guernsey pound
From Wikipedia, the free encyclopedia
| Guernsey pound | |
| ISO 4217 Code | none |
|---|---|
| User(s) | Guernsey |
| Inflation | 3.4% |
| Source | The World Factbook, June 2006 |
| Pegged with | variant of pound sterling |
| Subunit | |
| 1/100 | penny |
| Symbol | £ |
| penny | p |
| Plural | |
| penny | pence |
| Coins | 1p, 2p, 5p, 10p, 20p, 50p, £1, £2 |
| Banknotes | £1, £5, £10, £20, £50 |
| Treasury | Treasury and Resources Department, States of Guernsey |
| Website | www.gov.gg |
The Guernsey pound is the currency issued by the States of Guernsey. Guernsey is in currency union with the United Kingdom, and the Guernsey pound is not a separate currency but is a local issue of banknotes and coins denominated in pound sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland (see Sterling banknotes). It can be exchanged at par with other sterling coinage and notes (see also Sterling zone).
For this reason, ISO 4217 does not include a separate currency code for the Guernsey pound, but where a distinct code is desired GGP is generally used [1].
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Until the early 19th century, Guernsey used predominantly French currency. In 1830, Guernsey began production of copper coins denominated in doubles. The double was worth 1/80 of a French franc. The name "double" derived from the French "double deniers", although the value of the coin was equal to the liard (three deniers piece) still circulating. Coins were issued in denominations of 1, 2, 4 and 8 doubles. The 8 double coin was a "Guernsey penny", with twelve to the "Guernsey shilling" (worth 1.20FF). However, this shilling was not equal to the British shilling (worth 1.26FF as the exchange rate was 25.22 FF = £1). This resulted in there being 21 Guernsey shillings to the British pound.
Banknotes were also produced by the States of Guernsey from 1827, denominated in pounds. In 1914, three new banknotes appeared. Two carried denominations in (Guernsey) shillings and francs, namely 5 shillings / 6 francs and 10 shillings / 12 francs. The third was a one pound note.
In 1921, Guernsey adopted a pound equal to the pound sterling as its currency, increasing the value of the double from 1/2016 to 1/1920 of a pound. The WWI issue of banknotes were overstamped with the word "British" to indicate this change. New banknotes and British silver coinage circulated alongside the double coins, with threepence coins minted specially for Guernsey from 1956.
In 1971, along with the rest of the British Isles, Guernsey decimalized and began issuing a full range of coin denominations from ½p to 50p (£1 and £2 coins followed later).
The Guernsey pound, and other notes denomated in pound sterling (including those issued by the Bank of England, Scottish and Northern Irish notes and the Jersey pound) may be used in Guernsey. Some shops will also accept euros and other currencies can be exchanged in bureaux de change.
The Guernsey pound is legal tender only in Guernsey, but also circulates freely in Jersey. It can also be exchanged in other places using banks and bureaux de change.
Between 1830 and 1956, Guernsey's four coin denominations, 1, 2, 4 and 8 doubles, all carried very similar designs, with the Island's arms and name (spelt Guernesey) on the obverse and the denomination and date on the reverse. In addition, the 8 double coins featured a wreath on both sides.
In 1956, new designs were introduced for the 4 and 8 doubles (the lower denominations were no longer issued). These featured the Island's arms and name (now given as S'Ballivie Insule de Gernereve) on the obverse with the English name, the date and the Guernsey lily on the reverse. Threepence coins were also issued, with the same obverse and a reverse featuring the Guernsey cow.
The first decimal issues continued with the same obverse as the last predecimal issues until 1985, when Raphael Maklouf's portrait of Queen Elizabeth II was added. Ian Rank-Broadley's portrait of the Queen has appeared since 1998. Designs on the reverses of Guernsey's decimal coins are:
| Value | 1968-1984 | 1985- |
|---|---|---|
| ½p | Numeral | |
| 1p | Gannet | Crab |
| 2p | Windmill | Guernsey cows |
| 5p | Guernsey Lily | Yachts |
| 10p | Guernsey cow | Tomatoes |
| 20p | Guernsey Milk Can | Cog and Map |
| 50p | Duke of Normandy's Cap | Guernsey Freesia |
| £1 | Guernsey Lily (1981) H.M.S. Crescent (1983) |
Abstract Design |
| £2 | Flag |
| Denomination | Dimensions | Dominant Colour | Obverse | Reverse |
|---|---|---|---|---|
| £1 | 128 x 65 mm | Green | The Market, St Peter Port | Daniel De Lisle Brock, Bailiff of Guernsey 1762-1842, The Royal Court, St Peter Port, 1840 |
| £5 | 137 x 70 mm | Pink | Queen Elizabeth II, The Town Church |
Fort Grey, Hanois Lighthouse 1862 |
| £10 | 142 x 75 mm | Blue/Orange | Queen Elizabeth II, Elizabeth College |
Saumarez Park, Les Niaux Watermill, Le Trepid Dolmen |
| £20 | 150 x 80 mm | Pink | Queen Elizabeth II, St James Concert Hall |
Vale Castle, St Sampson's Church |
| £50 | 156 x 85 mm | Brown | Queen Elizabeth II, Royal Court House |
Point de la Mare, StLa Gran'mère, Letter of Marque, St Andrew's Church |
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- Guernsey Numismatic Lists and pictures, historical and present-day coins and notes