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1 Pound Sterling 1971, Gibraltar

in Krause book Number: 18b
Years of issue: 20.11.1971
Edition: --
Signatures: Financial & Development Secretary: Mr. Alistair Mackay
Serie: No Serie
Specimen of: 01.10.1927
Material: Cotton fiber
Size (mm): 143 x 93
Printer: TDLR (Thomas de la Rue & Company), London

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1 Pound Sterling 1971

Description

Watermark:

Avers:

1 Pound Sterling 1971

The Rock of Gibraltar

The Rock of Gibraltar (sometimes by its original Latin name, Calpe, or from its later Arabic name: Jabal Tariq ("Mountain of Tariq" or Spanish name: Peñón de Gibraltar) is a monolithic limestone promontory located in the British overseas territory of Gibraltar, off the southwestern tip of Europe on the Iberian Peninsula. It is 426 m (1,398 ft) high. The Rock is Crown property of the United Kingdom, and borders Spain. Most of the Rock's upper area is covered by a nature reserve, which is home to around 250 Barbary macaques. These macaques, as well as a labyrinthine network of tunnels, attract a large number of tourists each year.

The Rock of Gibraltar was one of the Pillars of Hercules and was known to the Romans as Mons Calpe, the other pillar being Mons Abyla or Jebel Musa on the African side of the Strait. In ancient times the two points marked the limit to the known world, a myth originally fostered by the Phoenicians.

Denominations in numerals in the corners, in words in center.

Revers:

1 Pound Sterling 1971

coat of Gibraltar

The coat of arms of Gibraltar was first granted by a Royal Warrant passed in Toledo on July 10, 1502, by Isabella I of Castile during Gibraltar's Spanish period. The arms consists of an escutcheon and features a three-towered red castle under which hangs a golden key.

The arms were described in the Royal Warrant as consisting of:

"...an escutcheon on which two thirds of its upper part shall have a white field; in the said field set a red Castle; underneath the said Castle, on the other third of the escutcheon, which must be a red field in which there must be a white line between the Castle and the said red field; on this a golden key which shall be on that with a chain from the said castle..."

The arms consist of a shield parted per fess:

1st Division: Two thirds Argent, a triple-towered castle of Gules, masoned and ajouré of Sable.

2nd Division: One third Gules, a key of Or hanging by a chain also of Or from the castle.

The castle has its roots in the heraldry of the Kingdom of Castile, the largest and most important medieval Spanish kingdom, of which Isabella was Queen. The preamble to the warrant granting the coat of arms to Gibraltar said:

"...and we, deeming it right, and acknowledging that the said City is very strong and by its situation it is the key between these our kingdoms in the Eastern and Western Seas and the sentinel and defense of the Strait of the said Seas through which no ships of peoples of either of these Seas can pass to the other without sighting it or calling at it."

The idea of Gibraltar being the key to Spain or the Mediterranean originated well before the Spanish conquest. The followers of Tariq ibn Ziyad, who invaded Spain via Gibraltar in 711, are said to have adopted the symbol of the key when they settled in Granada. The coat of arms was accompanied by the inscription "Seal of the noble city of Gibraltar, the Key of Spain".

Around is pattern ornament.

Comments:

In 1914 were issued the first paper money and in 1927 began the production of banknotes in Gibraltar pound.

The Currency Notes Act of 1934 confers on the Government of Gibraltar the right to print its own notes, and the obligation to back and exchange each printed note with sterling reserves at a rate of one pound to one pound sterling. Although Gibraltar notes are denominated in "pounds sterling", they are not legal tender in Britain, but they are in theory exchangeable at par for British notes at banks; in practice, at least one major British bank will not accept or exchange Sterling notes issued by the Government of Gibraltar[citation needed], and others will do so at below par, as with most currency exchange. Gibraltar's coins are the same weight, size and metal as British coins, although the designs are different, and they are occasionally found in circulation in Britain.

British coins and Bank of England notes circulate in Gibraltar and are universally accepted and interchangeable with Gibraltar issues.