The History Of Guernsey Currency
Guernsey used primarily French currency until 1834 when it all began to change as the French livre was no longer accepted as legal tender. The French franc was, however,C_ISR_60 still accepted until 1921. 1830 saw the introduction of a copper coin called the double. Eighty of these Guernsey doubles would get you one French franc. The name "double" is deceiving being a derivation of the French word deniers, as in fact it was worth triple the amount of that French coin and equated to one Liard. Four coins were issued, 1, 2, 4 and 8 Guernsey doubles. There were 8 Guernsey doubles to the Guernsey penny and 12 Guernsey pennies to the Guernsey shilling. It is important to note that the term Guernsey shilling means just that as it was worth 1.2 francs and the British shilling was worth 1.2 francs because of the exchange rate at the time. That being 25.22 francs to 1 pound sterling.
The States [Government] of Guernsey started producing Bank notes in 1827. These were denominated in [Guernsey] pounds. Twenty one years later the British pound became legal tender valued at [Guernsey] £1/1s/3d or 2040 "doubles". However this only lasted for two years and French currency continued in use. British coins were not made legal tender until 1870 but there was still a disparity in the C_BOSUP_90exchange rate with 1 British shilling being valued at 12½ Guernsey pence. Three years later Bank of England notes became recognised as legal tender. New banknotes were printed in 1914, some carrying denominations in Guernsey shillings and francs.
In 1921, following the fall in value of the French franc after WWI, This beautiful Channel island was forced to equalise the value of its pound to the pound Stirling. This, however, was not as simple as it seems, for amounts below 1 shilling, the exchange rate of 8 doubles [1 Guernsey penny] was equal to 1 penny Stirling which meant that Guernsey coins could still be circulated. Any amount above 1 shilling was at a rate of 21 Guernsey shillings to the pound Stirling. WWI banknotes that were still in circulation were over stamped "British" to indicate the change, and saving on a costly immediate reprint of banknotes. New Guernsey banknotes began to appear and British currency was also being accepted alongside the Guernsey double. In 1956, what is now the very collectible Guernsey 3d piece was introduced.
In 1971, Guernsey, like the rest of theC_BPX_70 British Isles, embraced decimalisation, and, although Guernsey still has its own coinage and banknotes, the rest is, as they say, history.
The States [Government] of Guernsey started producing Bank notes in 1827. These were denominated in [Guernsey] pounds. Twenty one years later the British pound became legal tender valued at [Guernsey] £1/1s/3d or 2040 "doubles". However this only lasted for two years and French currency continued in use. British coins were not made legal tender until 1870 but there was still a disparity in the C_BOSUP_90exchange rate with 1 British shilling being valued at 12½ Guernsey pence. Three years later Bank of England notes became recognised as legal tender. New banknotes were printed in 1914, some carrying denominations in Guernsey shillings and francs.
In 1921, following the fall in value of the French franc after WWI, This beautiful Channel island was forced to equalise the value of its pound to the pound Stirling. This, however, was not as simple as it seems, for amounts below 1 shilling, the exchange rate of 8 doubles [1 Guernsey penny] was equal to 1 penny Stirling which meant that Guernsey coins could still be circulated. Any amount above 1 shilling was at a rate of 21 Guernsey shillings to the pound Stirling. WWI banknotes that were still in circulation were over stamped "British" to indicate the change, and saving on a costly immediate reprint of banknotes. New Guernsey banknotes began to appear and British currency was also being accepted alongside the Guernsey double. In 1956, what is now the very collectible Guernsey 3d piece was introduced.
In 1971, Guernsey, like the rest of theC_BPX_70 British Isles, embraced decimalisation, and, although Guernsey still has its own coinage and banknotes, the rest is, as they say, history.
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