What is GGP currency？
The pound is the currency of Guernsey. Since 1921, Guernsey has been in currency union with the United Kingdom and the Guernsey pound is not a separate currency but is a local issue of sterling banknotes and coins, in a similar way to the banknotes issued in Scotland, England and Northern Ireland (see Banknotes of the pound sterling). 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, when distinction from sterling is desired the abbreviation GGP may be used.
GGP Coins
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 (spelled “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 seal 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 from 1956, with the same obverse and a reverse featuring the Guernsey cow.
As in the UK, 5- and 10-new-pence coins were introduced in 1968, followed by 50-new-pence coins in 1969, before decimalisation took place in 1971 and the 1⁄2-, 1- and 2-new-pence coins were introduced. These coins were the same size and composition as the corresponding British coins. The word “new” was dropped in 1977.
A £1 coin was introduced in 1981, two years before its introduction in the UK, although the 20-pence and £2 coins were introduced at the same time as in the UK: 1982 and 1998, respectively. The 1981 coin was significantly thinner than the modern version and the diameter also measured slightly less. The £1 coin ceased to be legal tender on 15 October 2017, to coincide with the withdrawal of the circular £1 coin in the UK. The UK’s new twelve-sided £1 coin is the only £1 coin that is legal tender on the island.
The first decimal issues continued with the same obverse as the last pre-decimal 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:
GGP Banknotes
In 1827, the States of Guernsey introduced one-pound notes, with the Guernsey Banking Company and the Guernsey Commercial Banking Company also issuing one-pound notes from 1861 and 1886, respectively. The commercial banks lost their right to issue notes in 1914, although the notes circulated until 1924. Also in 1914, the States introduced five- and ten-shilling notes, also denominated as 6 and 12 francs.
In 1921, States notes were over-stamped with the word “British” to signify the island’s conversion to a pound equal to sterling. From 1924, ten-shilling notes were issued without any reference to the franc. The five-shilling note was discontinued.
In 1941, during the German occupation, notes were introduced in denominations of 6 pence, 1 shilling 3 pence, 2 shillings 6 pence and 5 shillings. The first to be issued were the 5-shilling and 2s 6d notes. They were printed on States of Guernsey watermarked paper; the height of the notes was 2+3⁄8 inches; the length of the 2s 6d note was 3+5⁄8 inches and that of the 5s note was 2+3⁄4 inches. The 5s note was printed in black and red with the Seal of the Bailiwick in red on the reverse. The 2s 6d note was printed in light blue with the denomination in orange and the Seal of the Bailiwick in royal blue on the reverse. From 1942, the 1s 3d notes were overprinted to produce 1-shilling notes. In 1945, following liberation, £5 notes were introduced and production of all denominations below 10 shillings ended.
The 10 shilling note was replaced by the 50-new-pence coin in the run up to decimalisation. £10 notes were introduced in 1975, followed by £20 in 1980 and £50 in 1994. Although £1 and £2 coins have been introduced, the £1 note still circulates.
A commemorative £20 note was issued in 2012 to commemorate the Diamond Jubilee of Queen Elizabeth II. It is similar to the regular issue, but with the QE60 letter prefix, the commemorative laurel wreath on the lower left corner of the note, and additional wording. A total of 150,000 notes were issued.
A commemorative £1 note was issued on 4 July 2013 to mark 200 years since the first commercial operation of Thomas De La Rue. The commemorative note is in circulation alongside the standard £1 note, differing in the portrait of De La Rue on the reverse and a TDLR letter prefix.
On November 8, 2018, a commemorative banknote of £20 was issued to mark the 100th anniversary of the end of World War I. It is like the preceding 2012 commemorative issue, but with the seal of the Bailiwick of Guernsey surrounded by poppy flowers and containing the serial letter prefix “TG/W” (for “The Great War”).