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The state now called the Republic of Ireland decided in the mid-1920s to design its own coins and banknotes, at this stage it was decided that the Irish currency would be pegged to the Pound Sterling. The Currency Act, 1927 was passed as a basis for the creation of banknotes and the creation of the "Saorstát pound" (later the "Irish pound") as the "standard unit of value".

See also: Coinage of the Republic of Ireland

Background

When the Irish Free State came into existance in 1922 three types of banknote were in circulation, these were issued by the Bank of England, British Treasury and the several Irish banks then in existance. Only British Treasury notes had legal tender status within the state. Banknote issue by several institutions at the time was a common feature of banking at the time in the British Isles. A banking commission was created in 1926 which had to determine what changes were neccessary in relation to banking and banknote issue in the new state. The commission was chaired by Professor Henry Parker-Willis of Columbia University who was Director of Research of the Federal Reserve Board in the United States.

The pound

Series A: 1928-1977

Main article: Series A Banknotes of the Republic of Ireland

This series of notes called "Series A" was devised by the Currency Commission created by the Currency Act, 1927. The commission created an advisory commission which determined the theme and design of the notes. Notes were in the denominations of 10/-, £1, £5, £10, £20, £50 £100. Each note has a portrait of an Irish colleen believed to be Lady Lavery wife of the artist Sir John Lavery who was commissioned to design them.

The predominate theme on the notes are the rivers of Ireland which are depicted as heads taken from the Custom House, Dublin. Whilst their was some uncertainty as to which rivers were depicted it is agreed that rivers in the Irish Free State and northern Ireland were choosen. Each note also contains a watermark of the Head of Erin.

A number of changes were made to the notes when the Irish Free State changed its name in accordance with the Constitution of Ireland, and additional changes were made when the commission was superceeded with the Central Bank of Ireland in 1943.

Series B: 1976-1993

Main article: Series B Banknotes of the Republic of Ireland

Series C: 1992-2000

Main article: Series C Banknotes of the Republic of Ireland

The euro

See also

• History of Ireland

References and further reading

"The Design of Irish Banknotes", Central Bank of Ireland, Dublin, 1997.

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