Banknotes of Ireland

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The banknotes of Ireland cover notes issued by individual banks, issued both when the island of Ireland was one legal entity, and after parition into the Republic of Ireland and Northern Ireland, and by state agencies of the Republic of Ireland and the United Kingdom.

1 History
- 1.1 Republic of Ireland
- 1.2 Northern Ireland
2 See also
3 External links

[edit] History

Prior to 1900, there were around 100 trading banks that issued their own banknotes. In 1918, the number of note-issuing banks had been reduced. Among the trading banks, one of the most well-known and prominent was Ulster Bank.

Intitally the partition of Ireland did not have any direct impact on currency. However the Currency Act of 1927 gave the Currency Commission the sole authority to print and circulate legal tender in the Irish Free State. This resulted in two different types of banknotes on the island of Ireland.

[edit] Republic of Ireland

Main article: Banknotes of the Republic of Ireland

The Irish Free State commenced the circulation of its own banknotes in 1928, called "Series A". These banknotes became the only banknotes which were legal tender and until the 1960's could be redeemed for face value in the Bank of England, London.

Series A was replaced in time with "Series B", which itself was replaced with "Series C". Currently Euro banknotes circulate in the state as legal tender.

[edit] Northern Ireland

Main article: Banknotes of Northern Ireland

In 1929 the banks of Northern Ireland which where allowed, prior to partition, to print their own banknotes commenced the issue of the first new series which was limited to that part of Ireland only. These banks where Bank of Ireland, Belfast Banking Company, National Bank, Northern Bank and Ulster Bank.

Northern Ireland has continued to operate off a system of individual banks issuing their own Pound Sterling notes, although most British banknotes are accepted. Currently there are four note issuing banks in Northern Ireland, based at Belfast, two of which are Irish-owned, one Scottish owned and one Danish owned.