Jersey pound
| |||||
| ISO 4217 | |||||
|---|---|---|---|---|---|
| Code | none (GBP,JEPunofficially) | ||||
| Unit | |||||
| Plural | |||||
| Symbol | £ | ||||
| Denominations | |||||
| Subunit | |||||
| 1⁄100 | penny | ||||
| Plural | |||||
| penny | pence | ||||
| Symbol | |||||
| penny | p | ||||
| Banknotes | |||||
| Freq. used | £1, £5, £10, £20, £50 | ||||
| Rarely used | £100 | ||||
| Coins | |||||
| Freq. used | 1p, 2p, 5p, 10p, 20p, 50p, £2 | ||||
| Demographics | |||||
| User(s) |  Jersey(alongsidepound sterling) | ||||
| Issuance | |||||
| Treasury | Treasury and Resources Department, States of Jersey (website) | ||||
| Valuation | |||||
| Inflation | 5.3% | ||||
| Source | The World Factbook,2004 | ||||
| Pegged with | pound sterlingat par | ||||
Thepound(French:Livre de Jersey,Jèrriais:Louis de Jersey; abbreviation:JEP;sign:£) is the currency ofJersey.Jersey is incurrency unionwith the United Kingdom, and the Jersey pound is not a separate currency[citation needed]but is an issue of banknotes and coins by theStates of Jerseydenominated in sterling, in a similar way to the banknotes issued in Scotland and Northern Ireland (seeBanknotes of the pound sterling). It can be exchanged at par with other sterling coinage and notes (see alsosterling zone).
ISO 4217does not include a separate currency code for the Jersey pound, the abbreviation "JEP" may be used if distinction from sterling is desired.[1]
Both Jersey andBank of Englandnotes arelegal tenderin Jersey and circulate together, alongside theGuernsey poundand Scottish banknotes. The Jersey notes are not legal tender in the United Kingdom[2]and unlike Scottish and Northern Irish banknotes are not authorised by the British Parliament as legal currency in the United Kingdom.[3]That said, it will often be accepted by vendors in the UK with varying degrees of difficulty.
History[edit]
Thelivrewas the currency of Jersey until 1834. It consisted of French coins which, in the early 19th century, were exchangeable forsterlingat a rate of 26 livres = 1 pound. After the livre was replaced by thefrancin France in 1795, the supply of coins in Jersey dwindled leading to difficulties in trade and payment. In 1834, anOrder in Counciladopted the pound sterling as Jersey's sole official legal tender, although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to theshilling.Because the sous remained the chief small-change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth1⁄13of a shilling, the equivalent of 2 sous. This system continued until 1877, when a penny of1⁄12of a shilling was introduced.
Along with the rest of theBritish Isles,Jersey decimalised in 1971 and began issuing a full series of circulating coins from1⁄2p to 50p. £1 and £2 denominations followed later.
As of December 2005, there was £64.7m of Jersey currency in circulation. A profit of £2.8m earned on the issue of Jersey currency was received by the Treasurer of the States in 2005.[4]
Coins[edit]
History[edit]
In 1834, an Order in Council adopted the pound sterling as Jersey's sole official legal tender to replace theJersey livre,although French copper coins continued to circulate alongside British silver coins, with 26 sous equal to theshilling.Because the sous remained the chief small-change coins, when a new copper coinage was issued for Jersey in 1841, it was based on a penny worth1⁄13of a shilling, the equivalent of 2 sous. In 1841, copper1⁄52,1⁄26and1⁄13shilling coins were introduced, followed by bronze1⁄26and1⁄13shilling in 1866.
In 1877 a penny of1⁄12of a shilling was introduced, and the system changed to 12 pence to the shilling. Bronze1⁄48,1⁄24and1⁄12shilling were introduced. This was the only issue of the1⁄48shilling denomination. Between 1949 and 1952 the end of theGerman occupation of the Channel Islandswas marked by one million commemorative Liberation pennies that were struck for Jersey.[5]
In 1957, a nickel-brass 3 pence coin was introduced carrying the denomination "one fourth of a shilling". The 1957 and 1960 issues were round, with adodecagonalversion introduced in 1964.
In 1968, 5 and 10 (new) pence coins were introduced, followed by 50 pence in 1969 and1⁄2p, 1p and 2 pence in 1971 whendecimalisationtook place. All had the same composition and size as the correspondingBritish coins.The reverse of the first issue of decimal coinage bore thecoat of arms of Jerseyas had previous coins. The1⁄2penny coin was last minted in 1981.
20 pence coins were introduced in 1982 and £2 coins in 1998.
£1 coin[edit]
A square £1 coin was issued in circulation in 1981 to mark the bicentenary of theBattle of Jersey.The square pound could not be accepted byvending machinesand was not issued after 1981.
When the rest of the British Isles started to introduce a standardised pound coin in 1983, Jersey changed to a round coin to match. £1 coins were issued with a different design each year. Initially, each new coin featured one of the coats of arms of the 12parishesof Jersey. These were followed by a series of coins featuring sailing ships built in the island.[6]Themottoround the milled edge of Jersey pound coins was:Caesarea Insula( "island of Jersey" inLatin).[6]
Jersey £1 coins ceased to be legal tender in Jersey on 15 October 2017 to coincide with the withdrawal of the circular £1 coin in the UK. The UK's new12-sided £1 coinis the only £1 coin that is legal tender in the Island.[7][8][9]
Coinage[edit]
Designs on the reverse ofJersey coins:
- 1pLe HocqTower (coastal defence)
- 2p L'Hermitage, site whereSt. Helierlived
- 5p Seymour Tower (offshore defence)
- 10p La Pouquelaye de Faldouet (dolmen)
- 20pLa CorbièreLighthouse
- 50pGrosnez Castle(ruins)
Banknotes[edit]
In 1797 Hugh Godfray and Company, a wine merchant, opened Jersey's first bank (later called theJersey Old Bank) and issued £1 notes. Due to the shortage of livre tournois coinage, individuals and companies issued a large number of low value notes until in 1813 the States laid down that notes had to have a minimum value of £1. Until 1831, a large number of bodies and individuals in Jersey issued their own banknotes. Theparishes of Jerseyissued notes, as did theVingtaine de la Ville.Legislation in 1831 attempted to regulate such issues by requiring note issuers to be backed by two guarantors, but the parishes and the Vingtaine de la Ville were exempted from the regulatory provisions. Most of the notes were 1 pound denominations, although at least one 5 pound issue was made. These locally produced notes, which were often issued to fund public works, ceased to be issued after the 1890s.
During theGerman occupationin theSecond World War,a shortage of coinage (partly caused by occupying troops taking away coins as souvenirs) led to the passing of the Currency Notes (Jersey) Law on 29 April 1941. A series of 2 shilling notes (blue lettering on orange paper) were issued. The law was amended on 29 November 1941 to provide for further issues of notes of various denominations, and a series of banknotes designed byEdmund Blampiedwas issued by the States of Jersey in denominations of 6 pence, 1, 2 and 10 shillings, and 1 pound. The six pence note was designed by Blampied in such a way that the wording of the wordsixon the reverse incorporated an outsized "X" so that when the note was folded, the result was theresistancesymbol"V" for victory.[10]
| Denomination | Colour | Reverse design |
|---|---|---|
| 6 pence | Red | wordingsix pence |
| 1 shilling | Brown | silhouette of two characters in conversation |
| 2 shillings | Blue | horse wagon |
| 10 shillings | Green | farm girl and Jersey cattle |
| 1 pound | Purple | vraicingscene |
At Liberation in May 1945, the States stopped issuing notes.
1963 issue[edit]
These notes were issued under the Currency Notes (Jersey) Law 1959. Designed by TDLR's John White, they feature Pietro Annigoni's portrait of Queen Elizabeth II. When the 10-pound note was issued in 1971, it featured the same image originally used on the back of the 10-shilling note of 1963, because the low-value note had been replaced by a coin.[11]
| Image | Denomination | Colour | Reverse design |
|---|---|---|---|
| [1] | 10 shillings | Brown | Saint Ouen's Manor |
| 1 pound | Green | Mont Orgueil | |
| [2] | 5 pounds | Red | Saint Aubin's Fort |
| 10 pounds | Purple | Saint Ouen's Manor |
1976 issue[edit]
A new series of notes came into circulation on 5 August 1976. The new portrait of Queen Elizabeth II was based on a photograph by Anthony Buckley. The reverse featured historic images of Jersey, with Jersey flora forming part of the design of the obverse. The size of the notes was reduced in line with international trends.[12]20 pound notes were introduced in 1976.
| Image | Denomination | Colour | Obverse design | Reverse design |
|---|---|---|---|---|
| £1 | Blue | Queen Elizabeth II; Jersey buttercup | The Death of Major Pierson,Battle of Jersey,1781 | |
| [3] | £5 | Brown | Queen Elizabeth II; Jersey fern | Elizabeth Castle,by George Wolfe |
| [4] | £10 | Green | Queen Elizabeth II; wild daffodils | Victoria College,byFélix Benoist |
| £20 | Red | Queen Elizabeth II; burnet rose | Mont Orgueil, byJean Le Capelain |
1989 issue[edit]
50 pound notes were introduced in 1989. The current notes depictQueen Elizabeth IIon the obverse and various landmarks of Jersey or incidents in Jersey history on the reverse. The watermark is aJersey cow.Despite the introduction of a £1 coin, the £1 note continues to circulate.
| Image | Denomination | Colour | Reverse design |
|---|---|---|---|
| 1 pound | Green | St. Helier Parish Church | |
| 5 pounds | Purple | La Corbièrelighthouse | |
| [5] | 10 pounds | Red | The Death of Major Pierson,Battle of Jersey,1781 |
| 20 pounds | Blue | St. Ouen's manor | |
| 50 pounds | Brown | Government House |
Commemorative issues[edit]
Jersey has issued two commemorative £1 banknotes. In 1995 a special issue commemorating the 50th anniversary of Liberation of Jersey was issued. The front side is slightly different from the standard design with the serial number starting "LJ" standing for "Liberation of Jersey" and a map of Jersey printed in optically variable ink. On the reverse is an entirely different design from the standard one pound note, featuring the one pound note issued during theOccupation of Jersey.
In 2004 a special edition £1 note was introduced in general circulation alongside the St. Helier Parish Church note; this commemorative note marks the 800thanniversaryof the division of theDuchy of Normandyin 1204 and the design consequently includesMont Orgueilcastle and other historicsymbols.It has serial number with prefix "J8C" which stands for "Jersey 800".
On 1 June 2012 a £100 note was issued to commemorate theDiamond Jubilee of Queen Elizabeth II.The front of the commemorative note features a portrait of The Queen based onChris Levine's and Rob Munday's portrait of Her Majesty called "Equanimity", the engraving was created by Stephen Matthews of De La Rue.[13]On the back of the note is the Royal Mace of Jersey and theFlag of Jerseyin a vertical view.[14]
2010 issue[edit]
On 29 April 2010 a new set of Jersey banknotes was issued.[15]The notes are trilingual, containing text inEnglish,FrenchandJèrriais.On 1 June 2012 a £100 note was issued to commemorate theDiamond Jubilee of Queen Elizabeth II.[16][17]
The obverse of the notes (£1-£50) includes a portrait of Queen Elizabeth II based on a photograph by Mark Lawrence, alongside a view of an important Jersey landmark, with text in English. On these notes the Queen is wearing theVladimir Tiaraas opposed to a crown in recognition of her title in Jersey;Duke of Normandy.The reverse of each note includes an image of one of Jersey's numerous historic coastal defence towers, built in the late 18th century, as well as a further image of cultural or landscape importance, images of the twelve parish crests, and with denomination worded in French and Jèrriais.The Jersey cow watermark is retained,and further security features include a see-through map of Jersey. On the £10, £20 and £50 a patchhologramshowing a varying image of thecoat of arms of Jerseyand the Island of Jersey on a background pattern of La Corbière lighthouse.[18]The new designs were publicly shown for the first time on 22 February 2010.[19][20]
| Denomination | Colour | Obverse design | Reverse design |
|---|---|---|---|
| 1 pound | Green | Queen Elizabeth II; Liberation Sculpture in Saint Helier | Le HocqTower;La Hougue Bie |
| 5 pounds | Sky blue | Queen Elizabeth II; Le Rât Cottage | Archirondel Tower;Les Augrès Manor |
| 10 pounds | Burnt Sienna | Queen Elizabeth II;Hermitageof SaintHelier | Seymour Tower;Laliquesculpture in the Glass Church |
| 20 pounds | Violet | Queen Elizabeth II;States Building | La Rocco Tower; States Chamber |
| 50 pounds | Red | Queen Elizabeth II;Mont Orgueil | Tower, Ouaisné; La Marmotière, LesÉcréhous |
| 100 pounds | Purple | Queen Elizabeth II; map of Jersey andCotentin peninsula | Royal mace of Jersey;Flag of Jersey |
| Current GBP exchange rates | |
|---|---|
| FromGoogle Finance: | AUDCADCHFCNYEURHKDJPYUSD |
| FromYahoo! Finance: | AUDCADCHFCNYEURHKDJPYUSD |
| FromXE: | AUDCADCHFCNYEURHKDJPYUSD |
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See also[edit]
References[edit]
- ^"Countries' currencies and codes".Lloyds TSB. Archived fromthe originalon 26 November 2010.Retrieved28 February2011.
- ^"Legal Tender Guidelines".The Royal Mint. 2011.Retrieved28 February2011.
- ^Banking Act 2009,Part 6
- ^Ben Quérée (30 December 2005)."Jersey Currency brings in the cash".Jersey Evening Post.ThisIsJersey. Archived from the original on 4 February 2013.Retrieved28 February2011.
{{cite news}}:CS1 maint: unfit URL (link) - ^Part 7 Twelve Pence to a Shilling King George VI
- ^ab"Jersey Pounds".jerseycoins.Retrieved2 July2010.
- ^"Withdrawal of Jersey £1 coin".gov.je.States of Jersey. 24 February 2017.
- ^"Jersey and Guernsey decline £1 coin offer".ITV News.7 January 2019.
- ^"New 12-sided pound coin officially enters circulation".ITV News.28 March 2017.
- ^Marguerite Syvret (December 1986).Edmund Blampied: A biography of the artist 1886 – 1966.London: Robin Garton Ltd. for the Societe Jersiaise.ISBN0-906030-20-X.
- ^Linzmayer, Owen (2012). "Jersey".The Banknote Book.San Francisco, CA: BanknoteNews.
- ^Jersey Weekly Post,12 August 1976
- ^"Queen Elizabeth II on World Paper Money".pjsymes.au.Retrieved6 January2020.
- ^Jersey new 100-pound commemorative note confirmed– BanknoteNews. Retrieved 2012-06-02.
- ^"New Jersey banknotes begin circulation".bbc.co.uk. 29 April 2010.Retrieved28 February2011.
- ^Jersey to issue 100-pound commemorative note in 2012BanknoteNews, Retrieved 2011-08-15.
- ^Jersey new 100-pound note unveiled, due 1 June 2012Archived27 May 2012 at theWayback MachineBanknoteNews. Retrieved 2012-04-19.
- ^"On Demand"(PDF).States of Jersey-Treasury and Resources.Retrieved28 February2011.
- ^"Jersey's banknotes have been given a new look".bbc.co.uk. 1 March 2010.Retrieved28 February2011.
- ^"Hologram Jersey £100 banknotes go on sale".BBC News.June 2012.Retrieved3 June2012.
- Krause, Chester L.; Clifford Mishler (1991).Standard Catalog of World Coins:1801–1991(18th ed.). Krause Publications.ISBN0873411501.
- Pick, Albert (1994).Standard Catalog of World Paper Money:General Issues.Colin R. Bruce II and Neil Shafer (editors) (7th ed.). Krause Publications.ISBN0-87341-207-9.
- Pick, Albert (1990).Standard Catalog of World Paper Money:Specialized Issues.Colin R. Bruce II and Neil Shafer (editors) (6th ed.). Krause Publications.ISBN0-87341-149-8.
- On Demand: New Jersey Currency
External links[edit]
- The banknotes of Jersey(in English and German)
