The Gibraltar pound is the official currency of Gibraltar since 1934. In 1914, the first notes were issued in denominations of 2p, 10p, £1, £5, and £50, followed by the 2p and £50 in 1927. After the decimalization in 1971, notes were introduced in denominations of £10 and £20, followed by £50 in 1986. In 2010, the government of Gibraltar introduced new notes in denominations of £10 and £50, followed by £5, £20, and £100 in 2011. Although the Bank of England backs the notes and coins, they are only a legal tender within Gibraltar. Unlike the Bank of England, whose coins and notes also circulate in Gibraltar and are universally accepted and interchangeable with Gibraltarian issues. The official currency symbol: £/p (pre-decimal).
The 50 Gibraltar pounds note front design features the main background of the portrait of Queen Elizabeth II (Queen of the United Kingdom and 15 other commonwealth realms), the National Coat of Arms and the stylized letter G alluding to the initial letter of the name of the nation (Gibraltar). The reverse of the note presents an illustration of the Grand Casemates Square, which is the largest of the two main squares in the city center of Gibraltar. This note is part of the 2010 series, and its color is red and brown on a multicolor underprint.
Text: GOVERNMENT OF GIBRALTAR, CURRENCY NOTES ISSUED UNDER THE CURRENCY NOTES ACT ARE LEGAL TENDER IN GIBRALTAR FOR THE PAYMENT OF ANY AMOUNT, FIFTY POUNDS Sterling, ISSUED BY THE GOVERNMENT OF GIBRALTAR UNDER THE CURRENCY NOTES ACT COMMISSIONER OF CURRENCY 1ST JANUARY 2010, CASEMATES SQUARE, FIFTY POUNDS STERLING, £50.